I read somewhere that the actual passing score is 70% of the top 1% of scores. Is that true?
No. CFAI uses the Angoff Method.
How does that work?
You mean Angoff method? it’s a little complicated. common steps are: 1. build a committee with a number of professionals who are responsible of “setting criteria” and “passing bottomlines” 2. to confirm a min passing rule for a successful new candidate. this must be agreed by all committee members 3. each committee member have to take the exam and judge the passing rate for each question, based on the min passing rule set in #2 4. calc the average value of difficulty for each question from the estimation of all members and return to a min value for a successful candidate
So, on that basis all 12 questions are not equal??..I knew there was a supposed bias or favourable swing towards Ethics on grading, but never appreciated the remaining marks were in effect weighted?
T2 Wrote: ------------------------------------------------------- > I read somewhere that the actual passing score is > 70% of the top 1% of scores. Is that true? This USED to be the case, but nowadays CFAI uses the Angoff method (google it for more information).