The performance on the ethics section became a factor in the pass/fail decision for candidates whose total scores bordered the minimum pass score.
I think that is the consensus so far…
The CFAI Website does make mention of an Ethics Adjustment I believe (probably in the FAQ section).
FACT: Ethics is plural for Ethic. FACT: Ethics answer to no one. FACT: You can pass scoring below 50% in every other topic, as long as you score >70% in Ethics.
cjones65 Wrote: ------------------------------------------------------- > FACT: Ethics is plural for Ethic. > > FACT: Ethics answer to no one. > > FACT: You can pass scoring below 50% in every > other topic, as long as you score >70% in Ethics. ============================ The last is not a fact. See below the scores of a Band 10 fail. Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Investments 8 - - * - Corporate Finance 20 - * - - Derivatives 12 - * - - Economics 24 - * - - Equity Investments 24 - * - - Ethical & Professional Standards 36 - - * - Financial Reporting & Analysis 48 - - * - Fixed Income Investments 28 * - - - Portfolio Management 12 - * - - Quantitative Methods 28 - * -
Isn’t the above Level 1?
crish_r2008 Wrote: ------------------------------------------------------- > cjones65 Wrote: > -------------------------------------------------- > ----- > > FACT: Ethics is plural for Ethic. > > > > FACT: Ethics answer to no one. > > > > FACT: You can pass scoring below 50% in every > > other topic, as long as you score >70% in > Ethics. > > ============================ > > The last is not a fact. See below the scores of a > Band 10 fail. > > Q# Topic Max Pts <=50% 51%-70% >70% > - Alternative Investments 8 - - * > - Corporate Finance 20 - * - > - Derivatives 12 - * - > - Economics 24 - * - > - Equity Investments 24 - * - > - Ethical & Professional Standards 36 - - * > - Financial Reporting & Analysis 48 - - * > - Fixed Income Investments 28 * - - > - Portfolio Management 12 - * - > - Quantitative Methods 28 - * - the third point is so not a fact. High Ethics scores are purely used as a means of ranking borderline candidates between lucky pass and band 10 fail. https://www.cfainstitute.org/cfaprog/faq/faqs_candidates.html##103 What is the “ethics adjustment”? The Board of Governors instituted a policy many years ago to place particular emphasis on ethics. Starting with the 1996 exams, the performance on the ethics section became a factor in the pass/fail decision for candidates whose total scores bordered the minimum pass score. CFA Institute has a policy of not releasing either the minimum passing score or individual candidate scores. Consequently, CFA Institute does not release specific information about the ethics adjustment or the candidates who were affected. The adjustment has had a net positive effect on candidate scores (and thus pass rates) in most exam sessions. The published pass rates therefore always take into account the ethics adjustment for borderline candidates.
WOW how did this person fail? Must have really bombed Fixed Income.
i think that was my scored the first time i failed L1
bos_IT_guy Wrote: ------------------------------------------------------- > WOW how did this person fail? Must have really > bombed Fixed Income. or may be he scored at the bottom end of the range for big sections like CF and Equities, also the >70% he/she may only have scored a 71
there are so many 50-70%, those must be in 50-60 range
i failed last year in band 10 on Level 2. I scored above 70% in Ethics.
Maybe ethics moved you into band 10 from band 9…
chedges Wrote: ------------------------------------------------------- > Maybe ethics moved you into band 10 from band > 9… LOL
How do you know what band you are and how does the banding work?
> The adjustment has had a net positive effect on > candidate scores (and thus pass rates) in most > exam sessions. “Most” being the key word in that sentence. Does this mean it has a net negative effect in some sessions?
"> FACT: You can pass scoring below 50% in every > other topic, as long as you score >70% in Ethics. " What a ridiculous statement.
thats true Chris V… says it on the institute website
cjones65 Wrote: ------------------------------------------------------- > FACT: Ethics is plural for Ethic. > > FACT: Ethics answer to no one. > > FACT: You can pass scoring below 50% in every > other topic, as long as you score >70% in Ethics. These are facts, believe it or not! FACT: EL Thics is Spanish for Ethics
If that’s true then why bother studying anything other than Ethics? If you get 2 right in every item set and bang out 11/12 or 12/12 on Ethics you’ll pass? Doesn’t sound reasonable.