|Author||Topic: FAQ by Newbies, Straight from CFAI website.|
|In quantitative methods we often refer to the z-table, t-table, and F-table. Will these tables be provided during the exam?
No. CFA Institute will not provide distribution tables with the exam. If a question requires information from a specific distribution table, that information will be provided with the question, but the tables themselves will not be provided. Similarly, time value of money tables (present value, future value, etc.) are neither needed nor provided. The two approved calculators are capable of performing any required present value and future value calculations.
What type of pencil can I use during the examination?
CFA Institute will permit candidates to use regular or mechanical pencils provided that they use Number 2 or HB lead. In the event that you are unable to locate a Number 2 or HB pencil, any pencil with soft lead/graphite will suffice.
Do the pass/fail numbers published by CFA Institute include all the enrolled candidates or just the ones who took the exam?
The pass rates include only those candidates who actually took the exams. The numbers do not include no-show candidates or those who withdrew.
Does CFA Institute recognize the highest scores annually or create an honors list?
No.CFA Institute posts scores as pass or fail and does not consider one candidate as more (or less) accomplished than another merely because of their relative ranking in a particular year.
Why doesn’t CFA Institute let candidates know what score is required to pass the exams, or let candidates know what score they achieved on the exam?
The minimum passing score (MPS) for each level of the exam is determined by the CFA Institute Board of Governors each year after the administration of the examinations. Neither the MPS nor individual candidate scores have ever been released. To set the MPS before the administration of the exams would require that an absolute standard be applied without regard to the difficulty of the exams; this could potentially be very unfair to candidates, especially across time. To release the MPS and individual scores would also be unfair to candidates; CFA Institute does not consider one passing candidate to be more (or less) accomplished than another passing candidate merely because of their ranking relative to either the MPS or other candidate scores. To release scores would inevitably lead to such ranking, which would be especially unfair for candidates taking the same level exam in different years. Find out more about the history of the exam.
I received at least 50 percent on almost all topics on my results score matrix, but I still did not pass. How can that happen?
Candidates should not attempt to interpret an overall passing or failing score from the results matrix information. 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.
Do I have to pass each of the individual topic areas to pass the Level I exam?
No. The total score on your exam is simply the number of correct answers you gave. However, be careful about any “test wise” strategy that recommends ignoring a topic in your study. Recovering from a zero score in a topic is very difficult.
CFA Discussion Topic: FAQ by Newbies, Straight from CFAI website.
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