Essays, minutes and partial credit
Yes, you can always say “get it all right and you will not have to worry about partial credit”. Reality is, however, that our average score on essays will be considerably lower than on MC questions. So every point will matter.
Having that said, I was wondering how are CFAI graders going to award us partial credit on the essay portion of exam. We know essay part is worth 180 points (equal to minutes) distributed among different topics.
Consider this example: you are to list three items (i.e. reasons for high risk tolerance) and the whole and correct answer is worth 6 points. What do you get if you answer 2/3 questions correct? Is it 4 points? Or worse if you score 1/3 do you get 2 points?
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