Practice Exams and Passing Scores

CFA Level II
#1

I tried searching for this, but doesn’t seem like it’s been addressed extensively: What are the “passing scores” for Level 2? For Level 1 the rule of thumb seemed to be 70%, whether justified or not is debatable. Is there something similar for level 2? Book 6? Book 7? CFAI Practice Exams? What is everyone targeting?

#2

I can’t find the source now, but I’m pretty sure I read CFAI materials saying that the L1 pass rate is around 35-40% (excluding no-shows) and L2 rates a bit higher (maybe 40-50%). Can anyone confirm?

#3

Those numbers are about right. Keep in mind that, although the pass rate is higher for level II, there is a survivor bias built into them. In other words, only the brightest (or most diligent, etc) made it to level II and only 40-50% of them pass. The pass rate in June of 2007 for both level I and II was 40%. All of the info you are looking for is on the CFAI website…but you do have to look pretty hard as it is no very intuitive.

#4

http://www.cfainstitute.org/cfaprog/pdf/candidate_results.pdf

#5

Haha thanks guys, but those are the passing rates, not scores :slight_smile: I guess what I was trying to clarify was “what should I be aiming to get on my practice tests in order to pass on the actual exam?” There seems to have been a rule of thumb of 70% for Level I practice tests. Is getting 70% on the practice test going to be “sufficient” for Level 2? Or is it more like 80%? I know there is no certain answer, but is there a rough guideline from anyone’s experience?

#6

You guys (gals), I think that you’re misinterpreting the original poster’s question - it seems as if s/he is looking for a benchmark score to be comfortable with on practice exams, similar to the 70% threshold that was generally considered a “safe pass” for Level I. Dimitrous, although I have no reference to back this up, I’d imagine that 70%+ on the practice exams would give you a very good shot at passing.* *purely speculation on my part [edit: crossed posts with dimitrous]

#7

In addition to the CFAI practice exams, what about a “safe” score for Schweser LII? I know for LI, a lot of folks were in 60-70% range with Schweser and passed the actual exam. Has anybody had the same experience with LII?