So I’ve been doing the morning session of the first Schweser practice exam just for s’s and g’s and I just got to the last item set. I was surprised to see that the practice exam is 60 questions per session (120 total). Is this consistent with how the actual CFA exam will be on test day? I was under the impression that it’s 120 questions per session (240 total) as it was at Level 1. Does anyone know what the general score is that you could reasonably expect to pass with? For Level 1, the consensus was that if you score a 70 on the exam as a whole (minus completely failing ethics) that you could assume you’ll pass. Does this hold true to Level 2 also or should we be aiming for a higher/lower score?
I think you get 3mins per qn, so 120 qns in total would sound right. Also BTW I got over 70 in everything apart from ethics (fail) and alternative investments (50-70%)
So you’re saying you passed Level 1 with your score matrix showing Ethics < 50% and alternatives investments 50% - 70%? Or that was your score matrix and you failed the exam?
LII exam is 10 item sets of 6 questions each per session = 2 * 60 = 120 questions total. 120 * 3 = 360 mins = 6 hours…
Mmmmh…thanks to this topic I know the structure of the exam now ^^
Yes I passed with that score matrix. So you dont need to pass ethics to pass the exam. I guess I am not very ethical… oh well. Think I had better pay it a little more attention this time around anyway…
hey CP, wow, i didn’t know it was 10 item sets per session. It sounds so…small. 10 questions per section would mean that each question is pretty dense as it covers one topic? So with ~10 major topics on the curriculum it would mean ~1 item set for each topic…thats sick. 1 item set covering ALL of FSA?
kyle1984 Wrote: ------------------------------------------------------- > Does anyone know what the general score is that > you could reasonably expect to pass with? For > Level 1, the consensus was that if you score a 70 > on the exam as a whole (minus completely failing > ethics) that you could assume you’ll pass. Does > this hold true to Level 2 also or should we be > aiming for a higher/lower score? For all levels this year, the passing score is unknown as there are 3 choices. Maybe it will be 72% for L1 and L2 - - - who knows. What if the 3 questions is easier than they thought, I would not be suprised to see them bringing it up to 75% on L1 and 72% on L2 or something so that they can have L2 40% / L1 35% pass rates.
Sorry, should have researched this more myself i guess… These items sets you speak of, i am not so familair with. The cfai books seem to have everything grouped, like use this reading for questions 24-29. Is that pretty much how the exam works? And is each question in the item set contingent upon you getting the question before it correct?
again go to the cfai site for information. there is no linkage between answers on 1 question in an item set with another one in the same item set. The questions are not linked in the sense that you need answer from question 3 in Item Set 1 to answer questions 4,5,6 in item Set 1. questions are independent (but dependent on the item set itself for information)…
yeah that would be cruel and unusual punishment. I can imagine messing up a simple ROE calculation in Q1 and getting Q2-6 wrong because of it. ugh. I’m actually kinda suprised CFAI isn’t that cruel.
thank… yeah i would expect cfainstitute to make them all dependent to be cruel as well… that seems fair tho… Wonder why they decided to give us a chance…
Thanks for the clarification here. I agree, it does seem “small”. I was very relieved when I got “halfway” through the practice exam morning session to realize that I was actually done. And regarding the expected score to pass, I know it’s a moving average and depends on a lot of things, especially this year given the changes. All I was looking for I guess was what the old benchmark used to be. For instance, in the Schweser videos at Level 1, the lecturers openly say that they feel if you can score 70% or better on the Level 1 exam, it’s a pretty good indicator that you’ll pass. For now I guess I’ll assume it’s roughly 70% for Level 2, also.
It can’t be 72%. The passing score is determined by taking 70% of the average of top 1% score. So out of 10,000 candidate, top 100 (1%) get 100% in exam then passing score would be 70. I still think the passing score would be around 66-68.5%. Yes there will be 120Qs total. Time wise L2 is manageable than L1 but you spend more time in reading comprehension.
Interesting cfaboston. I’ve never heard that before. Is that fact? Where did you get that from?
This method of scoring was cited by CFA in the past, however they do not disclose their grading policy anymore. So it could be 70, could be 60, could be 80… just try to answer every question correctly when we get in there so we dont have to worry.
Yes ive heard that too re: passing score.