# Minimum Passing Score - 12 / 38 / 62 / 87 approach

12 / 38 / 62 / 87 all @ 10% except fin prod and markt & valuvation @ 15% ( so take the weighted average accordingly) weight qurartile 12 / 38 / 62 / 87 2nd • Foundations of Risk Management 10 2 6.2 4th • Quantitative Analysis 10 4 1.2 1st • Financial Markets and Products 15 1 13.05 2nd • Valuation and Risk Models 15 2 9.3 2nd • Market Risk Measurement and Management 10 2 6.2 2nd • Credit Risk Measurement and Management 10 2 6.2 1st • Operational and Integrated Risk Management 10 1 8.7 3rd • Risk Management and Investment Management 10 3 3.8 3rd • Current Issues in Financial Markets 10 3 3.8 So I totalled and it shows “58.45” I am assuming the cutt off to be somewhere the ball park, Could you guys do the same and lets see what is the Minimum passing score

You are assuming the top score in the 1st quartile is 100. That’s likely not the case. If several sections were exceptionally difficult, and the top scores were only 70% or so, your analysis will not be accurate.

I can see where your fourth quartile in Quantitative Analysis comes from. This doesn’t make any sense.

stop giving him a hard time … this is just a rough estimate… he’s obviously trying this trick on what we normally do for the CFA exams… the 40/60/80 approach… he’s assuming top quartile = 75+100 (assuming the perfect score) divided by 2 = ~88% yah, but if you want to be more accurate, you should also consider weighting each of the 9 sections (some 10% some are worth 5%)

and that explains finishing 4th quartile in Quantitative Analysis

monki Wrote: ------------------------------------------------------- > and that explains finishing 4th quartile in > Quantitative Analysis so mean

Monki, bottom line is I passed and I dont care … all I am trying to do is just throwing something here to brainstorm… and this is a good starting … And anyone who would like to criticize, please do so but show your model to calc the minimum passing score… monki Wrote: ------------------------------------------------------- > and that explains finishing 4th quartile in > Quantitative Analysis

dont take it too seriously i am sure the guys are just joking around, smile

to clarify what booper9t4 is talking about, CFA breaks things down into % scored, e.g. <50%, 50%= 70%, thats why the 40-60-80 calculator is a reasonable estimator of the passing score. On the other hand, GARP is giving us the quartile against other candidiates. So for example, I can finish 1st quartile in Credit Risk while only scoring 45% (9/20 correct!) as long as the top 25% of the candidiates in this category is around this failing range. To summarize, there is no valid model to calculate min passing score based on the info given from GARP, yet.

Monki is about right! I can’t wait for GARP to publish the pass rate… That’s all that is missing that will leave me satisfied.

Agreed! monki Wrote: ------------------------------------------------------- > to clarify what booper9t4 is talking about, CFA > breaks things down into % scored, e.g. <50%, 50%= > 70%, thats why the 40-60-80 calculator is a > reasonable estimator of the passing score. > > On the other hand, GARP is giving us the quartile > against other candidiates. So for example, I can > finish 1st quartile in Credit Risk while only > scoring 45% (9/20 correct!) as long as the top 25% > of the candidiates in this category is around this > failing range. > > To summarize, there is no valid model to calculate > min passing score based on the info given from > GARP, yet.

Agree with monki that we can’t estimate the passing score based on what we have, but what the distribution can give us though is an estimate of the Pass Rate! The only thing we are missing so far. With v.raghavan’s logic, I calculate the following (I use a more precise medians 12.5/37.5/62.5/87.5): v.raghavan - 58.75 percentile (band 46.25-71.25) myself - 73.75 percentile (band 61.25-86.25, my quartiles are 1/1/1/2/2/3/1/2/1) Looking at other people’s distributions, we get: monki - 56.25 percentile (band 43.75-68.75) egal - 55 percentile (band 42.5-67.5) So far my estimate is that the pass rate was somewhere around 45%. If we get more people that scored in lower quartiles do the calculation, we can get a better estimate!

The official pass rate is 44.1%, so I was close :). egal must have just barely passed, congratulations!