25% Pass Rate

https://www.bloomberg.com/news/articles/2021-07-27/cfa-pass-rate-plummets-to-record-low-of-25-for-level-1-exam

get out the :hacksaw:

Brutality

This news delights me.

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Way to go Gen Z!

I still can’t quite wrap my mind around these recent L1 MPS estimates above 70%… I always came at these tests with the view that 70 was a lock and the actual MPS would even be in the mid 60s range. No more of that, apparently!

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L2 results should give a pretty good indication about what is going to happen with L3 results. Of course, this pass rate is not helping my already dwindling confidence about my chances.

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For sure agree with you there. If they construct the questions with as much validity we they claim then MPS should be <= 70%. Something isn’t adding up on this.

If I were just starting out now and saw a 25% pass rate for L1 I’d have to think long and hard if it’s worth it to take on.

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Do you think it’s transitory?

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Let’s see! Regardless it will have everyone taking notice for the next couple of years.

MPS over 70 changes the game a bit. It means you can feel good leaving the exam but then second guess whether everyone rocked it and you still might miss the cutoff with a good score.

Everything’s going to be better known in the future, I guess! From looking at some published results from folks, there wasn’t a huge difference between the top 10% of takers and the MPS this time around. Interesting.

It seems like they are having a little bit of a challenge with striking the right balance in the CBT format. A required MPS above 70 for the first 2 Level 1 CBT exams is a relatively new thing (unless folks have other examples). I think it’s a bit of a stretch to say that the May Level 1 candidates had more disruption than the February or December candidates, who took their tests during pre-vaccine covid times. Actually, January to May were better times to study for much of the world as things got back to normal, aside from some countries where it got worse. But in those countries I doubt that their candidates altered the pool results so drastically.

Something to do with the difficulty of the questions versus the MPS seems to have gotten lost in the shuffle with the new CBT format. It’s like things might be in beta mode still and an unexpected outlier surprised everyone on all sides. A reason needs to be given to the public, and this was their most plausible reason. But something else almost surely contributed to this unprecedented pass rate.

That’s some baby back bull in my opinion. They need to pass another 10% of takers at the very least.

Level 2 is at 40%.
image

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Thankfully a more traditional result level.

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https://www.bloomberg.com/news/articles/2021-08-10/cfa-pass-rate-slumps-to-record-low-as-pandemic-disrupts-studying

42% was far lower than expected. Just happy I made it :+1:

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