I have heard a 70. Is that true? Are we graded in comparison to our peers? Please help!
I’m pretty sure nobody really knows exactly how they grade, but I believe the following are true: 1) if you get 70% you will pass (you can pass with less than 70% supposedly) 2) “ethics adjustment”- long story short if one person gets 68% and another gets 69%, it is possible for the person who got 68% to pass while 69% fails if 68% did better on ethics. to me it sounds like the ethics adjustment is a way for the institute to pick who passes and who fails regardless of their actual scores (obviously that example takes it a bit out of proportion but you get the idea). probably want to verify these. show up, get >70%, do good on ethics, pass.
It depends on how everyone else does. There is no set pass grade though.
If you don’t get ANYTHING above a 95% on test day- expect to fail.
Is that all? I thought this test was supposed to be hard.
Yeah- I’m aiming for 100%, I don’t want to push my luck with a 95
what, they’d let you pass with a 95? Unbelievable…
Pass can be anything, as other posters have mentioned. I believe (but dont know for fact) that the 70% number that is famously mentioned is probably from here: " The minimum passing score for the exam is determined by many factors, and is not a predetermined or specific percentage of the points either for individual topic areas or for the entire exam. ***Specifically, candidates should not necessarily interpret scores between 50 and 70 percent as passing***" (found at http://www.cfainstitute.org/utility/faq/Pages/index.aspx ) Since anything less than 70 should not be interpreted as passing, chances are that more than 70% consistently (across the sections) should lead to passing.
http://financialrounds.blogspot.com/2008/06/how-do-they-determine-passing-score-on.html So basically, the final answer is, no one knows, but over 70% should keep you pretty safe unless the exam is unbelievably easy.
Nope. It’s 95
As for the Ethics adjustment, I recently went to a candidate event set up by my local society where the head of CFA examinations was the guest speaker, and he said that the adjustment is VERY small.
Useful info Alex. Did he comment on what a typical passing score is and whether it is close to 70%?
if ur getting a 65% in the mock exam…wat does tht imply…is the mock more difficult than the actual exam…or at the same level?
No he did not. He just said it changes based on the difficulty of the actual exam. Someone asked about what range the passing score usually lies in and he said “if I told you than I would have to shoot you.”