There is no way that half the idiots who sit for level 1 should pass. This is an insult for the charterholders who passed level 1 when the pass rate was 35%. A pass rate over 35% is a complete joke and will water down the designation. The pass rate for level 2 should drop by 11% to offset the 11% increase in the pass rate of level 1.
“half the idiots”? What’s with the holier than thou attitude? Are you compensating for something?
https://www.cfainstitute.org/cfaprog/pdf/candidate_results.pdf I guess all chartholders who sat for L1 prior to 2004 should be stripped of their charter then. Take this shit somewhere else, jackass.
What did expect now that test takers have a 33.3% chance of getting each question right?
Somebody missed a few hugs or was not breastfed in his/her infanthood
I don’t care if it was bloody true/false. There is no logic behing increasing the pass rate 11% in one year.
don’t be surprised of 46% as long as the marginal passing probability of passing l3 remains the same, the value of charterholder is the same. l2 and l3 have conditional probability; these are like survival rate; CFAI probably cares only the overall survival rate at l3. so even one passes l1, the road ahead may be tougher than in the past.
kevin.venanzi Wrote: ------------------------------------------------------- > https://www.cfainstitute.org/cfaprog/pdf/candidate > _results.pdf > > I guess all chartholders who sat for L1 prior to > 2004 should be stripped of their charter then. > Take this shit somewhere else, jackass. That was before more than 20,000 people a year were passing level one. As with everything, it comes down to supply and demand. You simply cannot flood the market with the designation.
on august 18 when the L2 pass rate is 24% and L3 is 26%, this DB might feel differently…maybe CFAI is trying to encourage people to stay in the program (and therefore make more $$) by increasing the level 1 pass rate. they have moved a bunch of the harder topics (such as regression) from level 1 to level 2, so this could certainly be a consideration.
willispierre Wrote: ------------------------------------------------------- > on august 18 when the L2 pass rate is 24% and L3 > is 26%, this DB might feel differently…maybe > CFAI is trying to encourage people to stay in the > program (and therefore make more $$) by increasing > the level 1 pass rate. they have moved a bunch of > the harder topics (such as regression) from level > 1 to level 2, so this could certainly be a > consideration. We should all want level 1 to mean something. I don’t think I am going out on a limb by stating that with a close to 50% pass rate it seems easier than it did when it was 35%. We all realize that the level 1 pass rate could be 100% and level 2 and 3 could drop resulting in the same percentage of people receiving the charter. That’s not the freaking point.
So what if the Level I pass rate is 46%? Candidates still need to clear two more incredibly difficult exams. Level II will provide a hefty dose of reality to Level I candidates.
Mr. Murders&Executions, Please relax. I have passed and I’m not an idiot. Neither is the person who has failed. He is not an idiot either. You should think twice before posting such remarks on this forum. Thanks,
I passed when the pass rate was 35% and i am not insulted. They decided to change the multiple choices from 4 options to 3 so the candidates took advantage of it. Nothing wrong with that. We all start as level 1 candidates and labelling half of them as idiots seem rather harsh. I agree with your point that the designation will be watered down since the increasing supply of CFA candidates/holders will just decrease the value of a CFA. I am based in Asia and the increasing number of Indians and CHinese taking and passing the CFA exams (at all levels) are increasing in a dramatic rate. I have seen a teller going for CFA level 3 in Hong Kong. I am sure the girl has a good knowledge of reading and writing english but she couldn’t really string a complete sentence together and when she did, she had to pause 3 times in between. At the end of the day, it all boils down to supply and demand. I remember when bachelor degrees were worth something or had some value.
I am a veteran (in the program at least) and believe in the youth…i feel the young uns are far smarter and far more hard working. Hence, the 46% is a culmination of younger and more hard working candidates making their presence felt. Way to go. Hope I pass my L3 this year because competition is getting tougher by the day 
murders&executions Wrote: ------------------------------------------------------- > There is no way that half the idiots who sit for > level 1 should pass. This is an insult for the > charterholders who passed level 1 when the pass > rate was 35%. A pass rate over 35% is a complete > joke and will water down the designation. The > pass rate for level 2 should drop by 11% to offset > the 11% increase in the pass rate of level 1. Murders&Exs, Ask this quesion to CFAI… If it is a joke, it’s being played out by them. Ask them why. Why do u raise ur ugly head in this forum? competition scares u, son? for ur L2/L3?? WHo says 35 is a holy number anyway?? why not 10?? Somehow, think u passed ur L1 in dec08…
Dude…stuff like this happens… Did you see this so called economic recession/deflation/contraction go that wrong? If you can predict it so well…probably worth using your talent on spotting a good stock to buy! As usual, PAST PERFORMANCE IN NO WAY GUARANTEE FUTURE RETURNS! can me MORE and can be LESS! 50/50 right?
The important point here is that the MPS is still calculated the exact same way; thus, if the exam has been deemed to be easier now, as some have suggested, then the MPS will also increase! The method used to calcuate the MPS makes the difficulty/ease of the exam relative. And having 3 answer choices does not necessarily make it easier; all it means is, that if you have no idea what a question is asking, your chances of purely guessing it right are increased. However, it is not usually the case that someone who has prepared properly has no idea what a question is asking, and thus whether it is 3 or 4 answer choices it doesnt matter, as studies have shown that when there were 4 answer choices there was one choice that was never chosen by any of the candidates, and thus it was changed to 3. As it has been stated before, many of the candidates who have enrolled in the program have lost their jobs and are skilled practitioners who have now chosen to skill up; thus raising the passing rate. There is also a lot moe riding on passing the exam for these candidates and thus their preparation will be strong and thorough. I think it is very unfair for people to say that this yrs exam has been easier and that CFA is becoming a joke - who is to say that I didn’t work harded than people who passed 2 yrs ago. Please keep these negative comments to yourselves.
I am surprised at the latest pass rate, having failed level 1 in Dec with a band 9, it didn’t help that the pass rate was 35%, if the pass rate had been 46% would I have scraped through? All hindsight and of little consequence. What I can tell you is that having not made it at the first attempt, I studied like I have never studied before for the June exam and feel I comfortably cleared the hurdle, personally i was so much better prepared this time and feel that the additional knowledge gained this time round will pay dividends going forward. I would not be surprised if there are quite a few who just scraped in on their first attempt are going to be in for a shock at the commitment required for next level…Looking back not passing the first time was a real wake up call!
46% have passed cuz people have worked harder this time. Passing CFA means you have sufficient knowledge to enter in investment business. and those who are feels this 46% is joke , well CFA gives to platform to enter into finance ;rest is upon you and it’s not joke because only serious people give this exam; would it have been a 50$ or 100 exam you would've seen pass rate as 5 % or 10% . So do you want to feel victorious competing with garbage ? CFA is not a competitive exam and if it is then it is quality competition the 1000 tag removes all non-serious guys at start. I have cleared exams where I scored in top 500 out of 200000 , it was two phase , and i didn’t felt any competition at all in first phase , it was cakewalk to come in 10000 who compete in phase 2 and 3000 gets selected . so you see total pass rate is 0.1% and you see what is pass rate in “serious” candidates it’s 30%. Those who think 46% is joke then i would summerise it in one line as they are " strong people who like to compete and beat a weak person to take pleasure of winning"
I personally know a person who had prepared well but did not pass. So, I am convinced, standards have been maintained and 46% does not reflect anything otherwise. I am sure most of other 54%, who could not make it this time will second this.