40/60/80 understates what is needed to pass

CFA Level III
#1

The 40/60/80 seems to really understate the actual MPS. If this gives 63%, I would argue the real minimum passing score is much closer to 70%. First of all, if there are only 6 questions, then if >70%, you either got 83.3% or 100%, both above 80%. And the only way to be between 51% and 70%, is to have missed 2 and scored at 66.7%. So both of these suggest to me, that you would have to add at least 5%, if not more, to the MPS calculated using 40/60/80 to get a sense of the real % needed to pass. I am thinking you have to score close to 70% to pass, not 63% or something in that range. Does anyone else agree?

#2

anyone trying to figure this out and/or crunching numbers to see how they did and if that’s enough to pass, trust me, save your energy and go relax for the summer.

i failed band 9 last yr. my 40/60/80 based on my ACTUAL scores was a 60.2%

i thought i did much better than a 60% average, but was obviously wrong. did i do better than that this yr? who the hell knows?! i think so. is it good enough to pass? who the hell knows?! the only thing i know is that everyone will be surprised by his or her score, regardless of whether you pass or fail. so, please, go relax.

if you feel you passed, go relax. if you feel you failed, go relax, you’ll need the downtime. if you feel you’re on the bubble, there’s nothing you can do about it. any calculating you do will be incorrect - not worth worrying about it, seriously.

#3

Strongly disagree.

Your theory is only really applicable for the afternoon, not the morning.

Also, not applicable for any afternoon sections with more than 6 questions.

#4

When submitting your results to 300 hours, they don’t strictly apply a 40/60/80 score to your results. They take into consideration the reality that if you got 5070%, they factor in 83.33%.

When i submitted my results for analysis to them last year for L2, I brought up the very same point you did and they responded with a much lengthier/detailed version of what i wrote above.

#5

what is the 40/60/80 rule…?

#6

what is the 40/60/80 rule…?

#7

Thanks. For 40/60/80:

http://resourcetepee.com/free-personal-finance-calculators/cfa-level-3-mps/

Then why are no scores showing to be above 80%? I am sure there are some people that scored above 70% in all of the sections so why wouldn’t they be above 80% then?

#8

your official CFA score only tells you where you landed in 3 buckets (per topic)

0-50

50-70

70-100

The rule assumes you get 40/60/80

#9

I think there is negative skewness in Am exam for below 50% category as many people might have got 0% by not attempting the q

40% is way to high. My bro passed l3 last year, with a expected MPS of 61%

#10

#whenyousayBROdoyoumeanyourACTUALbrother?

#orthewayHOLMIESusetheword?

#the2NDismoremeaningful

#11

L3 is definitely an outlier. Plenty of sections where you can get all/most of the points, or a donut (a zero)

#12

I just calculate my level 3 ast year by 40/60/80 rules: i found 55%…I got band 6…

just for curiosity, I calculate level 2 by 40/60/80 rules i found 69% , which I passed

#13

I just calculate my level 3 ast year by 40/60/80 rules: i found 55%…I got band 6…

just for curiosity, I calculate level 2 by 40/60/80 rules i found 69% , which I passed

#14

I just calculate my level 3 ast year by 40/60/80 rules: i found 55%…I got band 6…

just for curiosity, I calculate level 2 by 40/60/80 rules i found 69% , which I passed

#15

#40/60/80isntappropriateforL3

#duh

#16

A word from a stats geek: the rule will always show a dominant tendency to converge to 60 simply by the way the intervals are treated and such rules ignore the tail push inherent in censored distributions.