CAIA L2 Minimum Passing Score

Obviously, no one will know the answer, but what do you guys think will be the minimum passing score for March’s Level 2 test? I thought I did well on the multiple choice, but the essays really threw me off. I’m hoping a 65 gets it done.

I believe a 65 is a good estimate, perhaps even a little lower than that. This is the first exam with the updated curriculum and after reading many of the comments on here, it doesn’t seem that anyone felt 100% after. I feel somewhat good on the essay part but you never know how they will grade them. Some of my answers I know were “correct” but looking back now I think they might have been a little “short” and I could have provided a more thorough answer.

How many hours did you guys spend studying for it? Will 200 still be enough in your opinion?

200 hours should be enough even for zero industry experience in alternative investments

Just a few more days which no need to think about 65% to 70% for passing. You pass then you pass and get the chartership.

Fail then retake since you passed one, no one will give up anyway

I am a CFA charterholder and remember that while the CFA Institute has a reputation for being opaque with its CFA exam grading procedures (similar to CAIA, the CFA Institute does not release the Minimum Passing Score, or MPS, on any of its exams), one thing I did like was that they produced a scoring breakdown of sections: (a) <=50% (b) 51%-70%, © >70%. By doing so, candidates could get a rough idea, usually within 5%, of what the MPS was. This isn’t the case with CAIA, where we are only told how are individual result compared with the bottom quartile of candidates who passed.

In theory, CAIA is supposed to calibrate the MPS so that every go around for the exam represents the same level of competency as any other go around. This is hard to do, of course, when a new curriculum comes to town.

I’m not sure whether this new curriculum makes the scoring committee more or less “charitable” in setting the MPS. This is especially a factor for the Constructed Response section, which can differ significantly from one testing cycle to another.

Well, enough pontificating for today. Maximium of 12 days (including today) to go…