So I had never known this but heard from multiple people on test day that you only really need to get low 60% range to pass— IS THIS TRUE?
I had always operated on the assumption that you needed a 70 to pass, and the curve was not worth much. Someone was saying that you could even potentially be in the 50s and pass. Anybody have color?
I 100% believe they curve and toss out way more questions (even entire sections) than people think.
theory is that a “raw” score of something like 58% could pass because some questions are removed for scoring purposes (everyone gets full credit)… so if your score marix on results day will look like a >70% for a section but in reality you only got like 4/6 “correct”…
realistically. lets say they remove or give you credit for 3 PM questions and a 6 minute AM question you “got wrong”… that just raised your total score 5%… so its not that the passing score is “59%” but that your score was adjusted higher towards the MPS of 65- or whatever… this
http://www.analystforum.com/forums/cfa-forums/cfa-level-iii-forum/91352309
there is an entire field of statistics related to analyzing testing data to determine curves and “fairness” of an exam… “all this falls under the MPS setting…”
I’ve always thought they grade on a curve. I believe their meticulous calculations focus more on what they want the pass rate to be…rather than on the MPS.