Is the CFA exam "curved"?

CFA Level I
#1

Hi Guys,

I was wondering if the CFA exam is curved? Meaning the mythetical 70% mark applies to the top 1% and then 70% right?

Meaning if the highest 1% score is a 230/240, then the 70% is applied to the 230 right?

#2

nah bruh, da cfai uses the angoff method to derive they minimum passin score. i saw on 300hours in 2012 dey speculated it was between 64-68%. i’m thinkin i got between a 62-68% w/ a high stddev. so let us pray, lol. good luck bruh

#3

CFAI doesn’t say exactly how they grade the exams. One way that has been discussed as a likely possibility is the angoff method. Also, it’s been said that candidate’s results are typically bi-modal, and there’s a fairly natural breakpoint for the passing score.

#4

CFA Institute is, in fact, quite explicit about this:

Since 1996, CFA Institute has used the modified Angoff Standard Setting Method to assist the Board of Governors in establishing the minimum passing score (MPS) on each CFA examination.

cfa_program_theory_meets_practice.pdf, http://www.cfainstitute.org/programs/cfaprogram/exams/Pages/cfa_exam_results.aspx.

#5

I stand corected. I hadn’t read that document before - thanks.

#6

You’re welcome.