AuthorTopic: Rank to pass
mm04
@2010-05-14 11:03:49
I have done a few mock tests here, but my rank is really low. I wonder how high you need to go in order to pass in the real exam?
cpamba
@2010-05-14 12:34:54
I think it is a lesson in statistics, the people working here are probably going to be more successful on the exam than the general population. So while there is a curve grading impact, established only by the high end score apparently, and an indication of how we are doing against others, I think the ranking is not really a good indicator of how we will do. I think the absolute score is still more relevant, i.e. near and above 70%. The main thing I am interested in is the relationship between the mock tests we take and the actual exam, i.e are we preparing for the right thing?

My rankings have been middle of the pack, doesn't look impressive, but I am not worried due to my belief that the people here are studying harder than the population (otherwise they wouldn't have ferreted this place out). I would just like an idea that the way we are being prepared translates to the real exam. I am not really into overkill studying.

Good luck
mm04
@2010-05-14 13:00:25
Thanks, cpamba. I think you are right. I am not sure how others took their mock exams, but it seems that people here are much better than the population. Do you think getting 70% correct is about the passing line? I have used Schweser notes and I compared with the notes here. I think each has its pros and cons, but the questions here are definitely much better than Schewser's. I am not sure where the exam type question are from, but I think they are at least as tough as real questions. Good luck too.
cpamba
@2010-05-14 23:31:35
Based on the information I have read posted by others, the indication is that the "curve" is established by the top 1% score and that 70% of that is the needed points. Which is perhaps 65% plus or minus of the questions.

This is relatively similar to the CFP exam process as I recall.

So yes if you can get 70% of the points I think you would easily pass. Now if we only know whether we are properly prepared??
cpamba
@2010-05-14 23:34:37
Of course, you not knowing this and the question asked by someone how the questions are grouped on the exam may mean that the people here are not as far along as I gave us credit for being.

Because I thought I was behind, and I even know these. Of course I have been spending way to much time figuring out what to study than actually studying.

Again, good luck.
mm04
@2010-05-15 20:17:46
I actually went to the Schweser seminar. What I got was about what to be tested. That was the only good thing about the seminar. The instructor emphasized the quants, financial statement analysis (especially what the different acctg. principles may impact the different ratios). He also emphasized the ethics, which is critical to passing the exam. Also he emphasized the new contect, the alternative investments. So put more time on these. Hope this helps. Thanks.
cpamba
@2010-05-15 23:06:19
Oddly, I stumbled accross a letter from CFAI to the SEC, included in the letter was a description of the scoring process. It was as I described earlier.
It also mentioned the modified Angoff Method, which is used in the CFP exam. It is a process where they use a number of questions on each exam, based on the results of each test population to these same questions they can determine whether we are brighter or not compared to the other year's takers. They then can use this information to determine whether a year's test is more difficult than another. That helps them to decide how much to curve down in addition to the 70%tile of the top 1%. (I guess if they figure the test was much easier they could overrule using the top 1%.) I learned this from an article written about how the CFP exam was scored.
randym4177
@2010-05-17 21:33:24
Has anyone done the mock exam in the CFAI study guide? I took that exam and then did a weighted score based on the percentages of tested areas and got a 64%. Does anyone have any idea how this scores/relates?

Thanks,
Randy
brujita94
@2010-05-18 16:54:19
With the mock exams i am in a ranking around 40% which it means a score of %60 to 68% average accordign to the weight for topic? Is this enough to pass the exam?
I don't know if the ranking is so low because people are very good answering, or they do with notes? I don't use the notes or formulas in the mock exams. I believe to be ranks in 60% we have to do more than 80% of the exam. correct here?
Thanks
mm04
@2010-05-29 10:02:56
I think at this time, it really does not matter how the ranks comes out. Focus on the weak parts that you found out from the exams.
Alphaza
@2010-05-29 16:40:50
Let's face it, there is no point on trying to figure out what the minimum we need is. We just need to prep the best we can and hopefully all pass.

I do think most of the people on this forum are well prepped and put that effort into pass.

I was confused about one thing, do only the top 1% pass or set the curve?

CFA Discussion Topic: Rank to pass

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You have a wonderful website and definitely should take some credit for your members' outstanding grades.
Colin Sampaleanu

Colin Sampaleanu