Hey guys, As seen in the below subscores, I scored below 50% FRA. However, I do remember the FRA sections/questions on the test and find it very unlikely that I did less than 13 questions correct in the exam. Besides, it seems really weird (beter than expected) that I did at least 5 out of 6 correct in some small sections and 9 out of 12 correct in derivatives. From that perspective, I started to think that the subscores represent our curved scores wrt to other candidates rather than the absolute scores. Does anyone else feel that way? Best… Level II: Fail The table below illustrates your subject matter strengths and weaknesses. The three columns on the right are marked with asterisks to indicate your performance on each question or topic area. Item SetQ#TopicMax Pts<=50%51%-70%>70% -Alternative Investments18*-- -Corporate Finance36–* -Derivatives36–* -Economics18-*- -Equity Investments72-*- -Ethical & Professional Standards36-*- -Financial Reporting & Analysis72*-- -Fixed Income Investments36–* -Portfolio Management18–* -Quantitative Methods18–* We have divided the full group of failed candidates into ten approximately equal score bands. Your score band below shows how your overall score on the exam compares with all other failed candidates. For example, if your reported score band is 1, you scored in approximately the bottom 10% of failed candidates. If your reported score band is 2, your score was within the next band width ranging from approximately the bottom 11% to 20% of failed candidates. If your score band is reported as 10, you scored in the top 10% of all failed candidates. Your score band: 9
You might want to have a look at the following document by the CFAI https://www.cfainstitute.org/cfaprogram//Documents/the_cfa_program_our_fifth_decade.pdf There the grading is clearly described, as well that the indication (“subscores”) given is referring to points scored (i.e. absolute) rather than relative (see page 11).