Audacious’ comments on Ethics since we took the exam have been, well… audacious, to say the least… But I love it and I’m with you on this one… Standing up for the common candidate; props to you sir –
I heard its same vague material with grey areas and no matter how much you study you simple do not attain the comfortable feeling about it and yes the ethics adjustment is as a mystery as in previous levels.
quoted fro CFA website FAQ “The Board of Governors instituted a policy to place particular emphasis on ethics. Starting with the 1996 exams, the performance on the ethics section became a factor in the pass/fail decision for candidates whose total scores bordered the minimum passing score. The ethics adjustment can have a positive or negative impact on these candidates’ final results.”
The golden question remains. What is “negative impact” ? Does it mean,
a) that a candidate can fail overall, if his score is more than MPS (little bit) but failed in ethics?
b) a candidate who has scored less than MPS (little bit again) but failed in ethics will fail overall ?
answer is a)
i mean, how can you fail someone who has already failed according to MPS? in other words, you cant make a fail failer…
Similar logic could be made for the guy who acheived MPS but was given a fail because of lower ethics score. No? What is point of MPS if some ine who acheives it can still fail?
From FAQ section: as confusing it could get…
Do I have to pass each of the individual topic areas in order to pass an exam level?
No. As long as you achieve a total score above the minimum passing score (MPS) set by the CFA Institute Board of Governors, you would pass the exam regardless of your performance on any individual topic. However, we advise against any “test wise” strategy that recommends ignoring a topic in your study. Offsetting a zero score in a topic could be difficult. Also review the ethics adjustment FAQ for additional information.Most important, an objective of the CFA Program is to develop candidate knowledge and skills to a generalist level in all covered topics. Employers have found this is one of the competitive advantages of charterholders.
can you give me the link to this?
thanks
L3 Ethics this year was the biggest batch of bulls**t I’ve ever seen. Complete, utter, nonsense.
- e^∞
Given that and how hard it is to know how your morning effort will be graded, I am amazed that there are people on this forum that are so confident that they passed. Impressive.