How the heck was the pass rate ever in the mid 70s?
Are you implying you felt it was hard? Because I can see it either way, at least looking only at the AM section. Is that what you are referring to?
Oh no. Didn’t mean to imply that as I haven’t taken the test yet. I forgot we could even take it! I just meant the material in general. Isn’t it hard to believe that in 2006 3 out of every 4 people passed the exam?
The AM was pretty easy. I scored an 82% on it about a month ago. I think they f_ed up and made it too easy, which takes the power of controlling the pass rate out of CFAI’s hands (which the don’t like). The result was two abnormally difficult exams (especially 2008) in the past two years. As long as the median score is below ~68%, CFAI has all the power and can control the pass rate.
Huh, ok, got it. Yeah, I didn’t do as well as McLeod, but I didn’t think it was particularly difficult even though I blew Rodolfo’s stupid case (man, I hate that guy). Certain concepts are obviously not tested in our LOS, but yeah, I’d like this year to be about the same on the difficulty scale.
I would expect this years exam to be a bit lighter on the time squeeze compared to last year, but at a comparable level of difficulty.