Hey All,

How is everyone feeling about Level1 this past Saturday? I felt “good” coming out of the exam… however, word on the street is that securing a 70% is a guaranteed pass. That is, one can get 72 questions wrong and still pass.

Any thoughts about getting possibly 80 wrong and still passing? AKA scoring 66.7%?

^ Seems to be normal range, but we’ll see.

do anybody knows MPS for previous years ? at least approximately ?

I would feel super confident if the MPS was 65%. There were SO many questions that I narrowed down to 2 possible anwsers. Luckily i read the entire CFAI material 2x over. I dont know how Kaplan or Elan users got the questions that were soooo clearly hidden in the CFAI material…you really had to read with a fine tooth comb.

I feel like I either passed by a slim margin or failed by a slim margin. I definitely didn’t knock it out of the park but I didn’t bomb it… so I guess we’ll see. It would really be unpleasant to have to take it in December.

I’m in the same boat - either barely passed or barely failed.

I ran short on time and had to guess for a majority of the econ/derivs&alts sections.

Assuming I averaged 70% in all categories and got 1/3 on econ/derivs&alts, historically would this be a passing score?

When is the earliest that we can expect the results?

And how do we get them, by mail or email?

We’ll get an e-mail from CFA about the result date in a few days. Usually it’s in the 3rd-4th week of July. And we’ll get our result through e-mail.

Anyone think the MPS could be 64%? I’ve read a ton of speculation.

Hard to think MPS for L1 would go that low. You guys have waaaaaay too much breathing room… you can get upto 70 questions (“holy shit” when I think in terms of what us L2 guys are going through) wrong and still pass. That is a lot of wrongs. If anything, MPS may get down to 68%. Hard to imagine CFAI would curve any lower than that, given the number of people showing up at L1.

If you’re on the cusp (mid-high 60%), it’s your score in ethics that will determine if you pass or not. They use some kind of weighting to either put you over, or put you down.

on the contrary, a higher MPS in a test with increased no of candidates would push the minimum percenatge of candidates passing to a significant low…i dont think it shud be below 30%…even if its 30%, this would mean around 45,000 clearing the test…so MPS is bound to be lower this time

That’s not quite accurate. The ethics adjustment can help bump you up to a pass if you’ve just barely failed, but the ethics adjustment cannot move you from a pass to a fail. i.e., the adjustment cannot hurt you.

EDIT: I may be incorrect. I swear I read that it cannot hurt you, but someone just posted a quote from CFAI that it can. Hmm…I’ve got to do some more research…

Regarding the ethics adjustment, another site studied the June 2012 Level I exam. Of all people that responded to the survey, nobody got less than 50% in Ethics (or FRA) and passed Level I. That only includes a group of people that shared their results, and not the entire population of Level I test takers.

Approximately half of those that passed got 70% or less in Quant, Economics, Derivatives and Alternatives.

We’re not going to know the MPS, but I think all reasonable estimates have it between 64 and 68.

Let me tell you that I really doubt that the MPS will be 64.

Unless I am really wrong, that would make more than 30%-40% of people pass the exam IMO.

Upon what do you conculde that?