Hurricane: Highest Scores for each section: - Derivatives 8 - Economics 4 - Equity Analysis 16 - Ethical & Professional Stands. 8 - Financial Statement Analysis 25 - Fixed Income Analysis 8 - General Portfolio Management 3 - Quantitative Analysis 8 Total: 80/120 = 66.67% Lowest scores (being conservative) might have been: -Derivatives 7 (it can only be 7 or 8) - Economics 4 (it can only be 4) - Equity Analysis 15 (it can be 13, 14, 15, or 16 only) - Ethical & Professional Stands. 7 (it can only be 7 or 8) - Financial Statement Analysis 24 (it can be 19, 20, 21, 22, 23, 24, or 25) - Fixed Income Analysis 7 (it can only be 7 or 8) - General Portfolio Management 3 (it can be 0, 1, 2, or 3 only) - Quantitative Analysis 7 (it can only be 7 or 8) Total: 74/120 = 61.67%. So, MPS should have been, I think, between 61.67% - 66.67%. Based on this person’s results, MPS couldn’t have been more than 66.67%
Lowest could be 6, 3, 12, 6, 18, 6 0, 6 total 57 or 47.5% (exactly 50% puts you in middle not lower band).
Item Set Q# Topic Max Pts <=50% 51%-70% >70% ^^ exactly 50% puts you in the lower band.
in the context of 2008, i would bet that top 1% is down a min 4 to 116, based on the complete retardness of several questions. even the perfect nerd might be driven crazy by the fuzzy wording. that should bring mps to 0.7*96.67% = 67.67%.
Nonsense. Nobody ever scored 100% and if 1% (which is 100 people) score 116 out of 120 ON AVERAGE then there would have been a 100% score a long time ago. The top 1% is lower than that. The methodology of 70% of the top 1%, however, was used up to 2004 but these documents that showed up clearly said that the method of establishing the MPS was about to be changed. So whatever your idea of the top 1% - it doesn’t matter.
i pray you’re right bleeck, and there are not so many perfect nerds out there… however, the 70% mps rule still seems better for me than to consider someone’s results from 2006…
True. I honestly think CFAI does some reviews of the exam and establish its difficulty. Then they set an MPS they feel comfortable with. Probably 65/67% based on last year’s results.
exactly. additionally however, the big unknown for all levels is whether CFAI will consider last year’s pass rates or just hit us again with a 40%. i guess we’ll never know and the only thing that will approximate the mps is if we find another “jg1996business” in 2008 and maximize his score.
Well from the moment I get to see ‘pass’ or ‘fail’ I can’t care less about passing rates or mps. Especially when I’d pass I’d move to the L3 forum and never look back!
yeap! the pass/fail is the only thing that matters… but since i don’t feel well at all about what i did, there is a funny need to discuss all the crap mps things. and from the threads in last weeks, seems i’m not alone.
Bleeck Wrote: ------------------------------------------------------- > Well from the moment I get to see ‘pass’ or ‘fail’ > I can’t care less about passing rates or mps. > Especially when I’d pass I’d move to the L3 forum > and never look back! Not me I’ll probably stick around for a while until I pick up the L3 curriculum. That still leaves several months to talk about passing rates, mps, etc 
lol
Anyone knows until when the essays where still a part of the LII?
a little birdie (who knows cfa really, really well) told me it’s 70% automatic pass and then subjective (ethics, equity etc.) beyond that… but the basic pass rate is 70%. made that extremely clear.
They certainly imply 70% - just look at the samples / mocks and that the maximum band is >70%. That said some people clearly do pass with less including this person.
Hurricane Wrote: ------------------------------------------------------- > They certainly imply 70% - just look at the > samples / mocks and that the maximum band is >70%. > That said some people clearly do pass with less > including this person. thanks… this guy was really adamant about the 70% “automatic pass” and then some subjective stuff for people who got less (he wasn’t really sure about this part though). the whole 70% of top 1% (say 90% for argument’s sake) sounds way too easy. i doubt there’s a huge amount of people who will get below 63%. there’d be some.
westbruin Wrote: ------------------------------------------------------- > a little birdie (who knows cfa really, really > well) told me it’s 70% automatic pass and then > subjective (ethics, equity etc.) beyond > that… but the basic pass rate is 70%. > made that extremely clear. from seeing that document online - i agree that ethics may count as an extra point, however, i don’t believe that they would consider passing someone just because he/she may have scored a 66% in equity and a 63% in FSA versus a person who scored the opposite in both sections. Clearly they go through each quesion and argue if the minimum candidate should pass - if the tally of ‘should pass marks’ is less than 70% then the MPS is this. If it’s greater than 70% - i.e an easy test - they probably leave it at 70% anyway - After all, 70% in a fairly hard test is not that easy to achieve - all the accountancy qualifications only require a 50% pass mark so for CFA to say you need anything greater than 70% is just stupid
well, here are two postings from last year. you can see they got at least 80 out of 120 correct, but still failed. I think the top 1% is close to 99% at least for 2007. -------------------------------------------------------------------------------------------- Re: 40/60/80 Results Posted by: jumbalika (IP Logged) [hide posts from this user] Date: August 16, 2007 11:16PM 71% Failed - Derivatives 36 - - * - Economics 18 - - * - Equity Analysis 72 - - * - Ethical & Professional Stnds. 36 - * - - Financial Statement Analysis 108 - - * - Fixed Income Analysis 36 - * - - General Portfolio Management 36 * - - - Quantitative Analysis 18 - * - ----------------------------------------------------------------------------------------------- Re: 40/60/80 Results Posted by: jumbalika (IP Logged) [hide posts from this user] Date: August 16, 2007 11:16PM 71% Failed - Derivatives 36 - - * - Economics 18 - - * - Equity Analysis 72 - - * - Ethical & Professional Stnds. 36 - * - - Financial Statement Analysis 108 - - * - Fixed Income Analysis 36 - * - - General Portfolio Management 36 * - - - Quantitative Analysis 18 - * -
i guess the min for this score could have been 75 or something, not 80. but it creeps me out, anyways
Oh i repeated one in last posting. Here are the two highest failing score I found from 2007. Well when I calculate their lowest possible # of corrects, I gave 2 for those sections they got < 50% as it’s unlikely they got a 0% for that section. The result is very discouraging. -------------------------------------------------------------------------------------------- Re: 40/60/80 Results Posted by: jumbalika (IP Logged) [hide posts from this user] Date: August 16, 2007 11:16PM 71% Failed - Derivatives 36 - - * - Economics 18 - - * - Equity Analysis 72 - - * - Ethical & Professional Stnds. 36 - * - - Financial Statement Analysis 108 - - * - Fixed Income Analysis 36 - * - - General Portfolio Management 36 * - - - Quantitative Analysis 18 - * - ------------------------------------------------------------------------------------------- Re: 40/60/80 Results Posted by: dein_gesicht (IP Logged) [hide posts from this user] Date: August 16, 2007 07:37PM Oh I know now 71% fail!!! Q# Topic Max Pts <=50% 51%-70% >70% - Derivatives 36 - * - - Economics 18 - * - - Equity Analysis 72 - - * - Ethical & Professional Stnds. 36 - - * - Financial Statement Analysis 108 - - * - Fixed Income Analysis 36 - - * - General Portfolio Management 36 * - - - Quantitative Analysis 18 * - -