inferno Wrote: ------------------------------------------------------- > Anyone thinking about mean reversion theory > > Pass rate 2001-2010 ------- 2011 > Level 1 39% ----------- 39% > Level 2 44% ----------- 43% > Level 3 59% ----------- ? > > > > Source: > http://www.cfainstitute.org/cfaprogram/Documents/1 > 963_current_candidate_exam_results.pdf The only problem with using mean reversion is that the data is not covariant stationary. This is clearly the result of gambler’s fallacy!
wahlin Wrote: ------------------------------------------------------- > The only problem with a high L3 pass rate is that > when one of us does fail we feel extra miserable:( +1 always said a high pass rate means nothing
I expect it to be much lower and probably in line with L1 and L2 pass rates (and if not this year, then certainly over time). It makes too much sense for the institute to do this. First, it brings the pass rates down so that L3 is not perceived as being easier. It increases the prestige of the charter by making it more exclusive and finally, it increases fees from repeat test takers because realistically, who isn’t going to try again once they have passed L2? That’s my cynical take on it in any case.
I think CFA Level I pass rate is too high given too many candidates out there, but it might be a good approach to add revenue to CFAI; Level II and III pass rate should be kept at lower 30% given growing number of candidates and downward economic condition. FRMer,CFA
FRMer Wrote: ------------------------------------------------------- > I think CFA Level I pass rate is too high given > too many candidates out there, but it might be a > good approach to add revenue to CFAI; > Level II and III pass rate should be kept at lower > 30% given growing number of candidates and > downward economic condition. > > FRMer,CFA lol 30% pass rate, u’re funny
I don’t know about the growing number of candidates. In Chicago, I was suprised to see they used the venue usually set up for december L1 exam, now for all 3 levels.
tried a qucik search cant find any historical candidates number, i do recall the cfai saying that the majority of their revenue come from exam fees so it would be interesting to see this
pimpineasy Wrote: ------------------------------------------------------- > tried a qucik search cant find any historical > candidates number, i do recall the cfai saying > that the majority of their revenue come from exam > fees so it would be interesting to see this it is in the annual report
thanks mate, appreciate it, http://annualreport.cfainstitute.org/content/downloads/CFA_FY2010_Full_Financials.pdf 30% lol 30% u should go on tour with an act that good…u would kill everytime! 
pimpineasy Wrote: ------------------------------------------------------- > thanks mate, appreciate it, > http://annualreport.cfainstitute.org/content/downl > oads/CFA_FY2010_Full_Financials.pdf > > 30% lol 30% u should go on tour with an act that > good…u would kill everytime! > > Cheers!