Maybe the Level II MPS is low

This year’s Level I exam was easier than most of us expected. The board consensus from everyone’s results is that the MPS was at or very close to 70%. Given the comments about how this year’s Level II exam was a killer, I’m thinking that the MPS will be below 70%. Perhaps the top group that set the curve only scored 90% instead of near 100% as was the case with Level I. If this is the case, the Level II MPS would only be 63%. I think that many of you will find that you did better than expected. On the Level I exam, I got 67% on the CFAI Mock Exam two weeks before the exam and 71% on the Boston Society Mock Exam one week before the exam. I found the actual exam to be somewhat easier than I expected, and I was glad I really delved into all those topics I had trouble with in the Mock exams. All along, I was concerned about the Ethics section. I consistently had trouble in Quantitative and was lucky to clear 50% on the sample and mock exams. I barely cleared 50% on the Boston Society mock exam just a week before the exam and still didn’t have a good understanding of leases. I only got 2/12 in Derivatives on the CFAI Mock exam 2 weeks before the exam. But I really dug into all those weak areas during those final 2 weeks. On Exam Day, I found the exam somewhat easier than the Boston Society Mock Exam. After the exam, I guessed that I got around 70%-75%, though reading the post-mortems on the board gave me doubts. As it turned out, I got over 70% on EVERY section, which was far better than I anticipated. I must have done quite a bit better than 70% overall (probably at least 80%) given that I cleared 70% on my weakest section. Thus, I did better than I expected by at least 5 percentage points. My prediction is that many of you with doubts will be pleasantly surprised and find that you passed by a substantial margin. In fact, I bet that most of the regulars here passed. I also think that the CFAI likes to manage candidates’ expectations by keeping them modest. The CFAI wants to have more candidates who don’t think they passed end up passing than candidates who think they passed and end up failing. The CFAI wants everyone to fixate on the 70% figure to encourage more thorough studying and results that exceed rather than fall short of expectations.

i pray you are right

“Given the comments about how this year’s Level II exam was a killer, I’m thinking that the MPS will be below 70%. Perhaps the top group that set the curve only scored 90% instead of near 100% as was the case with Level I. If this is the case, the Level II MPS would only be 63%.” That’s not how the MPS is set. I believe they use the Angoff Method (google it).

I am somewhat surprised you haven’t been flamed to death yet for this post (I am sure you intentions are good). The L2 candidates have been through L1 and know what to expect.