I was above MPS but due to an absolutely terrible AM I failed: I mean, I’m not complaining per se, it’s understandable if you bomb half the exam, you fail…just seeing if I had any takers. 62.7% Overall 49.4% AM 76% PM Level 3: 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. Essay Q# Topic Max Pts <=50% 51%-70% >70% 1 Portfolio Management - Individual 36 - - * 2 Portfolio Management - Individual 9 * - - 3 Portfolio Management - Institutional 36 * - - 4 Portfolio Management - Asset Allocation 17 * - - 5 Fixed Income Investments 13 - * - 6 Alternative Investments 11 * - - 7 Portfolio Management - Risk Management 17 * - - 8 Portfolio Management - Execution 14 * - - 9 Portfolio Management - Monitor&Rebalance 9 * - - 10 Portfolio Management – Performance Eval. 9 * - - 11 Portfolio Management 9 * - - Item Set Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Investments 18 - - * - Derivatives 18 - - * - Economics 18 - - * - Equity Investments 36 - - * - Ethical & Professional Standards 36 - * - - Fixed Income Investments 36 - - * - Portfolio Management 18 - - * 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. Performance band of your overall score among all candidates who failed the exam: 10
anyone??
The thing is, you had 9 sections out of 11 in the AM under 50%. It’s generous to assume a 40% on all those sections. Obviously, you came close if you had a band of 10, but I wouldnt be surprised if your overall AM was between 40% and 45%.
If you are above the MPS, you will pass. The 40/60/80 thing is only approximate and for people right around the MPS, it doesn’t really tell you much. CFAI also says if you are right on the edge and you fail Ethics, you may fail. You failed Ethics and based on your band, you were probably right on the edge or at least pretty close, so Ethics could be what did you in. I was in your boat 2 years ago. I did very well overall but my Ethics was below 50%. They didn’t have failure bands but I bet I would have been a 10. I failed, did the retab thing, still failed. It sucks and I sympathize with you because I’ve been there. You will have an advantage next year because you will a) carry this year’s knowledge with you, and b) know what to expect.
No way I retab waste of time. I know I failed, and like you guys say, 9/11 under 50% in AM is downright awful. I did do good in one big question, the individual IPS, but other than crap. I wonder if its my writing??? Thanks for insights guys! Much appreciated!
This year, i really focused on “how” to answer the IPS questions. I wrote a decent amount in my answers because I felt bullet points weren’t enough. Use the past exams available on the CFAI website as a template. I think it made a big difference for me this year. I got >70 on all the IPS questions. They are such huge portions of the exam that by nailing them, you have a much better chance of passing.
Thanks heza! Is it fair to say that the new 10 band is CFA’s equivalent to 4th place in the Olympics, so close, yet so far away???
Yeah, getting a 10 would really be annoying. I think a 4 or 5 would be worse because that would mean you were really far off base. At least you know you have the afternoon material locked down. Just try to improve your IPS stuff and you should be good to go.
Yeah, I think so too…I talked to a fellow here who passed this yr and said he had the same idea last yr. Just needed the AM experience sort of…
I dont know, Hali, I do think in your mark, you should have passed. last year, several cases were, failed almost the AM session, score everyhing above 70, that is basicly your case, I really dont undertand, in the 40/60/80 post, I did see a few with much worse mark but passed. If you seriously wanna rehab, I suggest you take their result, and argue with CFAI, see what is therie answer.
Hali, The 40/60/80 method is not accurate. It has the most estimation bias for the band “<=50”. In your case, you have 9 essay qustions scored “<=50”. Your averaged score on these 9 questions may be well below 40. So if you used 40 for these quetions, your overall score might be overestimated.
No I get it, I suck at AM. I never bought into 40/60/80, my exam result is a great reason why its crap. 40/60/80 is really only good for 51-70, and decent for 71+…otherwise it sucks for the fail parts.
I have 7 below 50, 1 above 70, 1 in middle. I think the insit IPS screwed me, and I dont know why, but I did think the quesion was a bit weird, perhpas thats why I got bummed. waiting for the exam to see the answer aft session is just OK, 4 above 70, 6 in btw, compared to Hali’s mine is a sure fail well I used to think, to pass, you have to score almost perfeclty in PM, and suck in AM; or balance at each now, it seems to me, we have to score as perfect as possible, is this DOABLE? or every one is like mo34, study 2 hours from 4:40AM-6:40 AM every day from Sept
you know, you are in top 20 percent of 7000 failed pool, if addiing up another 10% on the passing rate of 50%, with a 60%, you will pass. for me, 65% would have made me pass, in 2006 with such a high passing rate well, it is meaningless to talk about now, just target to score everything as perfect as possible next try
Lets just kill this next yr!!!
Hali, Am I right when I state that you were a lot less active on the board this year than you were for L2? I remember for L2, you were a frequent poster. I felt like spending time on this board helped me a lot.
ummm…yeah, I sort of like to do my own thing and use this place as more of a encouragement/networking place where I vent. It keeps me in line, from an intellectual standpoint its rare that I contribue or look for something…maybe I should do some more of that. Its been proven people retain more of what they teach…
", I sort of like to do my own thing and use this place as more of a encouragement/networking place where I vent. " Amen
CFA_Halifax Wrote: ------------------------------------------------------- > ummm…yeah, I sort of like to do my own thing and > use this place as more of a > encouragement/networking place where I vent. It > keeps me in line, from an intellectual standpoint > its rare that I contribue or look for > something…maybe I should do some more of that. > Its been proven people retain more of what they > teach… yeah, that is why i tried to contribute as much as i can - very good review. The only way to understand if you truly learned something is to see if you can explain it to somebody else
Yah, guess I should do that. And maybe switch to bullet pts on essays???