What do you folks think the institute will use as a pass mark for this exam? I don’t believe it will be 70… I am hoping it will be round 55-60%. I know that many people found the afternoon ‘easy’- but I think that people often underestimate the ambiguity of CFAI’s questions…
How can you say 55-60??? Has it ever been below 65??? I know they don’t publish the number, but I have never seen so low estimated scores!!
i believe it should be somewhere around 65%. but i agree with chovies, looking at the last days here. there are more debates than at last year’s LII. although it seemed simple, look at the topics being discussed. apart from some consensus on several points, there are still a lot of open issues: IPS individuals/instit, ethics, or behavioral. these make up a large portion of the exam.
do we know if they use 70% of the top 1% rule? they used to have stuff on their website but i think it has been removed - I was looking for it yesterday. I am good with 65% pass not 70%
I think even 65% is too high. I have friends who have written 3 and never believed they got above 70… most believed they just made 50 and they passed.
can we convince ourselves that below 65% will be a pass - it will help me relax for the next 2 months lol
Another way of looking at it- the pass rate was above 50% (2008) and above 70% in 2006… do we really believe that this percentage of people scored above 70 in those respective years?? If dedicated people (like those on this forum) are scaping 70’s- then what about the average Jo?
Forget about average Joe. There may be a big difference between AF and non-AF on level1, but on level3 almost everybody is devoted to studying hard. I don’t believe in scores below 60. Just check past 3 years scores. You can probably find someone who failed, who had minimum score of more than 60
I am still convinced the pass mark is in the 55 region. Just because statistically it is not probably that in the last 2 years over 50% scored above 70%. That is a highly positive skewed leptokutic distribution. Unless we really believe the level 3 population is non-normal?
Minimum passing score for L III is usually 58-60% primarily becauce AM scores are lower then PM. With more score breakdowns given for L III (every AM question has its own score grid) it is easier to find someone with a best possible score in high 50’s. So figure on average PM scores are 10 points higher then AM.
does anyone know if they take the top 1% from the am and pm exams separately? actually would this make a difference? just thinking out loud. but if am score is lower then is there a benefit to this?
I would say that the pass mark is going to be higher than in the past for all three levels because the multiple choice questions now only have three choices.
that is a good point but i think the impact will be minimal since multiple choice is only 1/2 of the exam and CFA has stated that the 4th question was barely being used in the past anyways. having said that - i guessed on the spread duration question and got it right so I pushed up the bell cruve a bit
i bet the passing level would be 65%. with 60% in the am and 70% in the pm, you would take it. but lower than that…
BrownBear Wrote: ------------------------------------------------------- > Minimum passing score for L III is usually 58-60% > primarily becauce AM scores are lower then PM. > With more score breakdowns given for L III (every > AM question has its own score grid) it is easier > to find someone with a best possible score in high > 50’s. So figure on average PM scores are 10 > points higher then AM. ^ what he said. PM pass mark likely to be similar to LII pass mark which is usually in the 62-65% range - there were those leaked CFA MPS setting meetings that said as much. Might be a bit higher with 3 options instead of 4 this year. I think that year the LIII pass mark was about 54 overall - so that means the 70% of top 1% must be in the region of the mid 40’s for the morning session. There is about 0 chance of the MPS being higher than the low 60’s.
How can be 54 overall? if it is so, 80% people will pass.
Possibly. Look at previous pass rates: 2008 53% 2007 50% 2006 76% 2005 55% 2004 64% 2003 68% 2002 58% 2001 82% 2000 65% Maybe we are that year that pass rates go up again?
Looks like it’s bottomed out and the trend is our friend
if 80% people will pass, I dont think we need to worry too much then.