# CFA practice exams

I’ve taken 3 exams so far: Version 1: 76% Version 2: 68% Version 3: 70% In the versions I passed ( > 70%) I ‘failed’ in several individual sections ( scoring in the 50%-60% rage ). On the actual exam, is there any criteria on how badly you are allowed to do in the some indivudual sections while making up in other sections ? Any ideas people ? -S

As far as I understand, the pass/fail decision is based on the total score

I think if you score less than 50 in more than 2 topic areas then you are an outright fail regardless of the total score. This is what I’ve heard and noticed from friends who have taken the CFA exam before.

CFA_Max Wrote: ------------------------------------------------------- > I think if you score less than 50 in more than 2 > topic areas then you are an outright fail > regardless of the total score. > > This is what I’ve heard and noticed from friends > who have taken the CFA exam before. I don’t think that’s true. Go to: http://spreadsheets.google.com/ccc?key=pS7yAPVj8shWv_ODkm4Z_Ow&hl=en_US&pli=1 this is a spreadsheet someone (ymichael?) put together with the results from the June 2007 L1 exam that were posted on AF. Look at entry #11 for example (aza).

The CFAI gives you your grade in one of three categories: For the Spreadsheet they are: 3 = >70% 2 = 50-70% 1 = < 50% Colums B-J are showing what each candidate got for each section on the exam using the convention above. The remaining sections are using some form of guess as to where you fell in those ranges to calculate a score. The first example would be that you got a zero if you fell in cat 1 above, a 50 for cat 2, and a 70 for cat 3. They then go on to calc a 40% for cat 1, a 60% for cat 2 and a 80% for cat 3. So on, so on

I am shivering…

Very Nice. Interestingly – # of people with < 50% Economics - 39 Derivatives - 24 Portfolio Mgmt - 22 Quant - 8 Alternative Inv - 5 Equity Analysis - 3 Fixed Income - 3 Ethics - 1 FSA - 1

Can this be correct: Sample 1 64.33% 77.00% FAIL Sample 2 61.00% 73.50% PASS

Yes ^. You won’t know exactly what your score is when you receive it. The above are just estimates. One is wrong or both are wrong…we will never know.

goel_ar Wrote: ------------------------------------------------------- > Very Nice. > > Interestingly – > > # of people with < 50% > > Economics - 39 > Derivatives - 24 > Portfolio Mgmt - 22 > Quant - 8 > Alternative Inv - 5 > Equity Analysis - 3 > Fixed Income - 3 > Ethics - 1 > FSA - 1 Econ was really hard.

I can understand that…there are hundreds of concepts in Econ that can be twisted and turned to formulate a question, whereas in FSA…a CFO is, what a CFO is. Also, with completely revamped econ curriculum in '07, I am not expecting any respite in Dec either…fingers are crossed.

What portion of ECON , micro/macro/intl. , is tested most?

Here is a thread of Book 6 scores for June takers. You can cross reference it will the spreadsheet to see where people actually came out on test day. Maybe that will set some of your minds at ease a bit. http://www.analystforum.com/phorums/read.php?11,520091,page=6

goel_ar Wrote: ------------------------------------------------------- > What portion of ECON , micro/macro/intl. , is > tested most? I can’t recall exactly, but I do remember more macro and intl. Fisher curves, arbitrage, parity stuff, etc.

I just read this by mr plyon, and have decided not to sit for the exam this Dec 07. Was he a superman, mwvt9? Did they grant him the charter right away??? ************************************************************************ Choked up the determination to take another 1/2 exam today and leave one full Book 6 exam for one of my days off this week… Book 6 Exam 1 AM 90.83% Book 6 Exam 1 PM 87.50% (taken today) Book 6 Exam 2 AM 86.67% Book 6 Exam 2 PM 84.17% Made some silly mistakes of course. I tried short cuts on a number of questions that I would have typically calculated all of the way out. They mostly worked (but sometimes didn’t). Score was probably also negatively impacted by my choice of test-taking location (on my back lawn, overlooking the harbor here in CT watching the boats), and the fact that I had a Sierra Nevada and pack of Camels with me. Time was a slight issue too, but again, I was sort of taking it easy. ***********************************************************************

Dinesh, plyon is a fixed income wizard and you don’t need to score nearly as high and still pass. I’m so not benchmarking my scores off of his. mwt, thanks for posting the link, but reading this has set me off to a panic mode. I’m doing high 60’s, low 70’s these days (book 6 and CFAI online exams) and apparently a lot of people with similar results two weeks before the exam last time didn’t make it. I’d be super curious to know how mcpass, planner and mtolic spent the final 2 wks before the exam though.

I think my scores on the CFAI test we 71,83,70 for test 1,2,3 respectively and I did fine on the real thing.

dinesh.sundrani Wrote: ------------------------------------------------------- > I just read this by mr plyon, and have decided not > to sit for the exam this Dec 07. Was he a > superman, mwvt9? Did they grant him the charter > right away??? > > > ************************************************** > ********************** > Choked up the determination to take another 1/2 > exam today and leave one full Book 6 exam for one > of my days off this week… > > Book 6 Exam 1 AM 90.83% > Book 6 Exam 1 PM 87.50% (taken today) > Book 6 Exam 2 AM 86.67% > Book 6 Exam 2 PM 84.17% > > Made some silly mistakes of course. I tried short > cuts on a number of questions that I would have > typically calculated all of the way out. They > mostly worked (but sometimes didn’t). Score was > probably also negatively impacted by my choice of > test-taking location (on my back lawn, overlooking > the harbor here in CT watching the boats), and the > fact that I had a Sierra Nevada and pack of Camels > with me. > > Time was a slight issue too, but again, I was sort > of taking it easy. > ************************************************** > ********************* Plyon is bright no doubt. He has about 15 years of experience as a fixed income portfolio manager too. He has already started for level II I think.

mwvt9 Wrote: ------------------------------------------------------- > I think my scores on the CFAI test we 71,83,70 for > test 1,2,3 respectively and I did fine on the real > thing. That’s encouraging. I got 86% on test 1 (CFAI online) last week, but that was too easy. Just did BSAS 2006 today, and took quite the beating. 68% both AM and PM. Still in shock. Don’t know where to start reviewing.