Does anyone know what the pass rate is for people taking Level II for the second time?
The CFAI does not release those statistics, anyone who answers would just be guessing.
35% oh, and I agree 100% with wanderingcfa
On the 2nd time 35% of the people pass every time.
So of course I’m just guessing but… Whenever these questions come up there are two good arguments: a) Retesters have had more study time and experience with the material so their pass rate should be higher than the overall rate. b) Retesters have proven that they are not in the group that is skilled enough at test taking that they are going to sail through 3-3 (this is a pretty significant group of charterholders) so their pass rate should be lower. It seems that in my life whenever I come across a situation in which there are two good arguments on either side of an issue that the real result cuts the difference in half. I would bet at even money that the second time pass rate overall is within 5% of the first time pass rate and that if you had all the data it would be difficult to prove that the rates were different.
Could be relevant??? The CFP Board posts 1st times pass rates vs. retaker pass rates. There may be some similarities between in pass rates for retakers vs. 1st timers for the CFA and CFP. CFP Stats- Since 1995, 1st time pass rates are 62%. Those that retake the test are at 42%. From qualitative studies I read that CFP retakers didn’t change their study habits effectively and failed more often than 1st timers on the retake, even with additional time on the material. They found that they tended to use same study strategy as their failed attempt(s). That and possibly the sheer test taking ability/smarts as Joey mentioned isn’t the same, thus the lower rate. I would guess that 1st timers have a 7% advantage on the retakers.
I dont think you have be told what the pass rates are…you already know if you are passable material…can you do it??? or you cant do it??? and finally are you willing to put in the effort??? you know the answer to these question, dont you ??? I personally would not have put myself as passable material a couple of years ago…but i put in the hours…so the finally it boils down to “are you willing to put in the effort???” so you should not care about he pass rate…you should just care about if you have done enough