It’s hard enough to not get screwed by tricky wording when english is your first language. Based on the # of people there who don’t have english as their first language… it’s not surprising the pass rate is so low. English is my first language, and I caught at least 4 or 5 misreads in each session when going over my answers Also keep in mind the pass rate is on a GLOBAL basis. I looked on the CFAI website, only 34% of candidates live in the US, so TONS of test takers live in a country where english is not the primary language. I bet if you looked at the US Pass rate it’d be substantially higher then on a global basis.
You’re right. I think the pass rate in the US is closer to 50%…
I noticed a substantial amount of people speaking Korean in DC. I can’t speak for how well they understood the English language though. It was just an observation on my part.
I think that is not the reason. Yes, for non-native speakers like me it is more difficult, but CFAI specifically targets a pass rate at a certain level, let’s say 35% +/- 1-2%
English not being the first language is not the main reason why candidates fail, not being prepared well enough it is for sure the main reason. Plenty of those taking the exam in the US are foreigners, I don’t think the reciprocal is true. June 2008 Exam Results by Country/Region By country/region, the pass rates for the Level I, Level II, and Level III exams combined are: * United States: 43 percent of the 28,306 total exam candidates * Canada: 41 percent of the 7,768 total exam candidates * Europe: 46 percent of the 15,656 total exam candidates * Asia and Pacific Asia: 40 percent of the 33,936 total exam candidates * Central and South America: 37 percent of the 1,543 total exam candidates * Africa/Middle East: 28 percent of the 4,872 total exam candidates Source: http://www.cfainstitute.org/aboutus/press/release/08releases/20080819_02.html
those stats make me feel better. thanks map!
Thanks Map! I do think that understanding the language well is important. I have foreign friends who have trouble with tricky worded questions. But with enough practice and preparation, should be ok.
No, it’s really important and a bit discriminatory (thanks to CFAI they use much less jargon than Stalla), although not the main reason. Reading the question and the options and trying to understand what they really ask you about takes your precious time. Personally, I used to completely re-word a couple questions. Their double negatives drive me mad - What is least likely the most unimportant thing bla-bla-bla is: a) not to prevent misdemeanor b) be in compliance c) do not misbehave… @#$%^&
Better than the triple negatives in all those Stalla Passmaster questions 
That drove me insane!
It’s not just the language issue, I think. Just look at how many of the questions referenced US GAAP. Sure, there’s a bit on GAAP in any review program, but for someone in a different country, they have no shot at being as prepared for those questions as someone who has lived here, worked here, and gone to school here. Anyone who comes through an AACSB-accredited business program will have more than enough familiarity with GAAP to get through Level I - but for someone who had never seen GAAP before they started studying, they’re at an inherent disadvantage.
Plenty of engineers and software developers here too. Passing has nothing to do with knowing GAAP. Sure helps, but not as much as you think.
I wish they would break down those results by demographic. I’m sure the low pass rates are due to too many undergrads and foreigners and people without finance backgrounds taking it.
jlive1975 Wrote: ------------------------------------------------------- > I wish they would break down those results by > demographic. I’m sure the low pass rates are due > to too many undergrads and foreigners and people > without finance backgrounds taking it. Perhaps you are right, but I’m not so sure. I think the pass rates might be lower because the exams are tougher. Let’s face it, we had a very easy exam for Dec. I think the minimum pass grade is going to be substantially higher this time around…
guys, if you go to wikipedia and search for cfa it tells you that European has the highest passing %, North America has second highest, and the Asian book smarts are actually having the lowest passing rate… definitely because of language barriers… shouldn’t’ we be glad lol!
i would certainly reiterate the fact about the language barrier. Do not forget about the quality of english in places like SIngapore and Hong Kong where the the CFA Program is extremely popular. You will be surprised with the command of english of people from those regions… I certainly think they can spell better than some of us can… Just my 2c.
if you look at the pass rate you’ll see that its not what you believe it is. i think you’re just making a subjective assumption. instead of a priori one.
f2d Wrote: ------------------------------------------------------- > It’s hard enough to not get screwed by tricky > wording when english is your first language. > > Based on the # of people there who don’t have > english as their first language… it’s not > surprising the pass rate is so low. > > English is my first language, and I caught at > least 4 or 5 misreads in each session when going > over my answers > > Also keep in mind the pass rate is on a GLOBAL > basis. I looked on the CFAI website, only 34% of > candidates live in the US, so TONS of test takers > live in a country where english is not the primary > language. I bet if you looked at the US Pass rate > it’d be substantially higher then on a global > basis. DUDE, were you at Millennium Broadway Hotel, NYC?
I was @ the hotel at 53rd and 7th, I think it was the millenium ballroom, not sure though, I don’t have the admission ticket anymore
f2d Wrote: ------------------------------------------------------- > I was @ the hotel at 53rd and 7th, I think it was > the millenium ballroom, not sure though, I don’t > have the admission ticket anymore are you sure it was not 44th and 7th? Cause these words (topic) are the exact same i heard from someone else in my hotel when i was coming out.
Yep, I took it at 53 and 7 @ the sheraton. I didn’t talk to anyone about that at the exam, but when I left I was thinking how much it would suck if english isn’t your first language after seeing how tricky the wording was.