Based on the results posted here http://www.analystforum.com/phorums/read.php?12,816086 and here http://www.analystforum.com/phorums/read.php?12,816086 (see third post – he passed) and using the manuhack calculator, I believe we can narrow the range for the MPS this year to between 64.2% and 70.8%. This is obviously exclusive of any subjective adjustments for Ethics. Anyone else want to verify this?
Plyon, It wouldn’t be 70.8% as 70% is a passing score.
Podunk Wrote: ------------------------------------------------------- > Plyon, > > It wouldn’t be 70.8% as 70% is a passing score. Says who, where?
I think me means that it is never higher than 70%. Though I am not sure that this has ever been verified.
it has been verified only in that one thread months ago when someone found the minutes form an MPS meeting at CFAI, where they calculated MPS as 70% of highest 1% of scores…therefore, MPS can’t be higher than 70%
That was a very old and grading procedures have been changed in recent years, but I would guess they probably don’t set the min above 70% either.
plyon, that seems pretty reasonable i think. i did a worst/middle/best score after recreating about 95% of the questions and giving myself a pretty fair score and my worst possible that i imagined was a 62-63, middle like a 66-67, and high end was a 74. i did a bit worse than i though on econ, was right there in quant/FI/ethics, and exceeded expectations by maybe a q or 2 to hit over 70% in alts and a big surprise over 70% PM. i don’t think i’m kidding myself when i say i prob scored a 65-67% or so and missed by 1-2 questions. it’s short enough of a test that if you have a decent memory and aren’t lying to yourself, you can get pretty close especially right after the test at recreating it. my 40/60/80 was a 62% but that calcs a 60% in both FSA and Eq where I honestly can tell you I was w/in 1 or 2 q’s on each of the 70% line, unfortunately under this time around. so your #'s anyways seem to match my feeling of how i did. no way it was higher than maybe a 68% tops though. i think 65-67% prob was the MPS this year, which kind of would jive with a higher pass rate of 46% since a lot of candidates probably did score over 70% total on the exam and congrats to you all that did!
Plyon, It is my understanding that the passing score on the exam is 70% so if you answer 70% or more of the questions correctly, you will pass. I suppose it is conceivable that the CFAI could throw out a few questions after the exams are graded that would have an impact on passing score (i.e. drop 2 questions from inclusion but still keep 84 correct answers as the passing score which would increase the non-MPS adjusted passing score to 71.18%), but I don’t see how the CFAI would employ this tactic. I am too indifferent to pull any quotes from the CFAI web site, but I would be shocked if it doesn’t say somewhere on the web site that 70% of your answers correct equals a pass.
You won’t find anything on the CFAI’s site that would even come close to telling you what the MPS is. They certainly wouldn’t throw out a hard number like 70%.