I have heard from IFT that the MPS could empirically be as low as 60%, but then there are other comment section hardos who swear than anything below a 66% is a fail. Where do you guys stand?
I failed band 9 last year, and never cracked 60% on a mock. I did mostly mid to high 50s. this year, I took every topic test (aggregate score of 304/450) and took 3.5 schweser mocks, with scores on the 3 full exams being: 83/120, 91/120 and then a 78/120 which I am hoping was the outlier.
the additional half-mock that I took on friday afternoon went spectacularly, at 47/60. this, needless to say, filled me with confidence for the real thing. I honestly still could have failed tho.
What do you guys think the MPS is? Lol and please…dont regurgitate the same “300 hours” article written in 2013 that discusses this, because between this thread and CFA/Reddit i have seen that article referenced a dozen times. the guy says the MPS could be as low as 57% which i think is…inaccurate to say the least.
Just relax. There’s nothing much you can do about it, so it’s better to have some rest and get some sleep. In the end of July we’ll find out the truth one way or another.
GUN. TO. MY. HEAD…I think I passed (knock on wood, please knock on wood for me) but at the same time, i have no idea.
see thats the thing about level 2: the questions are so hard, and there are so many tricks, that you have no idea how youre doing. Like I swear to God my low 60s would fundamentally feel the same as my high 70s. I would have no idea how i was doing until I was grading the darn thing.
I will say this, i did better than last year. thats for sure. and when you do better than a band 9, that means there are only 1 of 2 outcomes. Either you passed, or you failed band 10.
If a 70% is a sure thing, I don’t know why they would give someone 10% leeway. 5% down to 65% seems fair to me with the ethics adjustment. The pass rates are low for a reason, not because they’re passing people who can barely break 50%. A 65% would imply they gave you a break on a full vignette worth of questions if you crushed ethics. If you were giving this test and wanted to uphold a standard for the designation would you pass someone with lower than a 65%? I wouldn’t, if I were administering the test I wouldn’t pass anyone with lower than a 66.67 implying that they were able to get 4 out of every 6, 80/120 would be my hard cut off.
This is all besides the point though because no one should put themselves in a position where they’re contemplating if they can pass with less than a 70% given that is the hurdle rate CFAI gives upfront.
I think the MPS is set to whatever achieves a 46% pass rate… seems like the number CFAI is stuck on recently for L2. I feel like this year’s MPS will be slightly lower because of the FI, Alt, and Deriv sections seemed harder this year.
If you’re band 9-10 potential, it literally comes down to a bit of luck-- the topic weights and the actual questions asked versus your strengths/weaknesses, and the simple matter of luck in educated and blind guesses.
I am a third time retaker. From seeing the different pass/fail matrix over the past 2 years, I think It is upwards of 68%. You just got to take some of the band 9 and 10’s over the previous years and get the weightings for those years. There are plenty of those in the results thread from past years. Then you can work out possible worst case and best case scenario scores. Here is my band 9 from 2016:
Band 9 in 2016.
Less than 50- AI. Corp F.
Between 51-70- Deri, Equity, Ethics, FI, PM
Over 71- Econ, FRA, QM.
On a worst case scenario (assuming 0 for AI and CF), and then the lowest possible scores for those that I got above 71, I get a score of 63%. After that exam though, I was confident that I nailed every single FRA Q and Quants Q. and I highly doubt I got 0 for both AI and CF.