How to Grade Morning Exams

How are you guys grading the morning exams. For example, I am grading a test where I messed up and didnt adjust the expenses for inflation… so expenses were off by 5k which messed up my return calc on the IPS. Everything else was right and I showed all work. How many points would I get out of 12?

… anyone? how many points? One of the expenses did not include inflation was the only error that led to a wrong return calc. Everything else was shown. Just trying to get an idea if there is consistency in how we are grading our own AMs.

no one knows bro

alright thanks… this will be interesting.

figure if you show infows and outflows correctly that would be worth something - how much, who knows

Exact points and scores on the AM are probably going to be extremely subjective and will go through multiple graders. I have a feeling they are looking for a conclusive judgement as to whether or not you understand the material and are worthy of the Charter. There may even be a sliding scale here. I’m guessing the top 20% and bottom 20% are passed and failed pretty much immediately. Middle 60% are really scrubbed and read thoroughly throughout the months. Overall, do your answers show enough of an understanding of the material? Is it clear you have put the time in to study? I think the AM portion gives the graders at L3 a chance to really decide whether or not someone knows their stuff. A few points here or there probably won’t mean much. Moral of the story, don’t stress over your practice AM scores, because we’re all in the same boat. Simply try to learn from your mistakes and improve. From my experience on Levels 1 and 2, with enough practice, the actual exam always seems a little easier. Just my opinion anyway.

I’d guess you would probably lose 2 pts. Since they were asking for the return and you did everything else correct you would probably lose 2 pts of the 12. However, if they also asked for expenses as part of another question and you gave the wrong answer for that as well, you’d likely lose another 2 pts.

It’s hard to say for sure since it’s rather subjective and they don’t reveal how they grade though.

Graders have no say in who passes or fails. They work in teams and each tream is assigned to one specific question. Graders themselves are also evaluated every day to eliminate outliers and assure that every candidate gets a fair shake. Candidates who score in the middle of the bell curve are rescored by another grader.

Graders pledge not the share the methodology of awarding points, hence any information from Schweser or other sources is most likely pure speculation.

^ exactly. Graders will grade the same question OVER and OVER again. Makes sense, because you keep grading consistent.

It’s pandora’s box on how the points are finally awarded.