- CFA Exams
- CFA Exam: Level I 2021
- Study Session 2. Quantitative Methods (1)
- Reading 7. Statistical Concepts and Market Returns
- Subject 5. Quartiles, Quintiles, Deciles, and Percentiles

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**CFA Practice Question**

True or False? If false, correct the percentage.

The 70th percentile of the distribution of a random variable, X, is an x-value which is exceeded by 70% of the population of X.

Correct Answer: False

The 70th percentile value is exceeded by 30% of the population.

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**User Contributed Comments**
2

User |
Comment |
---|---|

surob |
100%-70%=30%. So, 30% of the populations exceeds the rest of it. |

StanleyMo |
Exceed by is the key word |