On a lighter note, was anyone else surprised to see candidates with cell phones in the exam room? It was part of the proctors’ script so I assume there was an official rule change but I was shocked after following the old rules over the past 2 levels.
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No i was not surprised because we were told that due to Covid 19 our bags won’t be in a separate room… so yea I had a cell phone on me too, but I double checked it was switched off when the proctor said everyone makes sure that it is switched off.
What really surprised me is that some candidates were playing with their phone, and others had their study notes on the exam table while other candidates were still being admitted and registered during the one hour/45 mins before the exam before the proctor made the usual announcement !
I mean yea true i had my study notes and mobile inside the room, but i had assumed that i will not be allowed to take them out at all once i am in! So i kept them in my bag, while waited for the exam to start! Others had them out until the last minute before the announcement! That was weird
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I personally don’t think this is true. If you look at some old mock exams and previous AM exams there were definitely advanced English vocabulary words. Does that mean the MPS will drop heavily? Maybe, maybe not, but language is 100% a barrier given that there is a written portion.
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This is unofficial but if it is to be believed, it provides some insight into the grading process:
“The 10th percentile score and 90th percentile score for the morning essay based exam are around 30% and 65% approximately. The 10th percentile score and 90th percentile score for the evening item set based exam are about 55% and 80% respectively.
The minimum passing score is approximately 60%.”
This may be a matter of semantics but if the MPS hovers around 60%, to me that’s grading on a curve (i.e. you can have a raw score below 70% and still pass).
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I personally do not find language as a barrier and have not come across any “big words” before that I needed to look up. I am a non native English speaker btw… But maybe my language level is advanced. I really don’t think the MPS will drop because of language, but hey, I hope so!
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I haven’t logged on to this site in a while. Why would one even consider the significance or relevance of being a native English speaker?
I would assume the candidates have a professional level of English competence and in addition, being, at the very least, this is the third exam they take in the CFA Program, i would take it that they are familiar with the CFAI jargon.
Of course, there is an advantage in reading the material and writing down your thoughts on paper faster. However, if your approach was to give a long immaterial response, that doesn’t work in your favor. The responses you should write in, are not supposed to be long. In fact, your response should be clear in that, you are answering the question CORRECTLY and what the meaning of it is.
Personally, I think that is by far, more important.
Lastly, do not worry much if you feel like you have treaded 50% in the AM/essayette/free response portion of the exam. If you can get like 5/6 ~83-85% in the afternoon, that pans out to high 60% on the exam so that should be good enough. 70% is a definite pass so essentially if your performance is in-line with so, chances are you have passed this exam.
Enjoy your winter/new year holiday. Think about what other aspirations you have going forward.
Good luck!
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Quick note to all of you debating the topic of English being a language barrier and other countries potentially weighing down the MPS.
As I’ve mentioned earlier, as much as I could really use a lower MPS, I’m sorry to burst your bubble but this notion of the “language barrier” is nothing but a myth. It may help you sleep better at night for now but there is little truth to this.
First off, English is a UNIVERSAL language. Candidates in other countries who are smart enough to accumulate 4 years of investment experience and make it to L3, definitely know how to comprehend and articulate themselves in English. They are most likely doing business GLOBALLY, in English.
As an example, I myself was born and raised in Bangladesh, moved to Ny when I was 16 and pursued a career in buy side fixed income after graduating. Spent 4 years in Buy side fixed income research writing pages and pages of research in English before moving on to portfolio management. I am no exception. I have friends back home who can actually write better than me. So yea I have little reason to believe that candidates in non-English speaking countries will weigh down the MPS due to lack of “reading and writing” abilities.
I personally found it much easier to learn English than do complex currency and derivatives calculations lol.
Either way, I hope we all get good news in Jan or Feb or whenever the hell they release these results. But this notion of the “language barrier” being on obstacle for the rest of the world isn’t going to make or break us.
Cheers,
MK
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nice, does anyone know if we will have to wait til November to sit again if we do not pass December?
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There is May and now August (newly added) if you fail.
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August for L3?? Really? Wow so nice!!
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From 2021, you will get 02 chances to register for L3, one is May and another is Nov.
So that, with a good preparation, candidates could be able to accomplish the whole 3 levels in 1.5-2 years only.
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Fair enough, as someone who is not fluent in a second language I’ll defer to those with more expertise. To quote one of my favorite movies, “I was just speculatin’ about a hypothesis”.
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I should’ve known this! My ex is one.
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Yes, win win for All more ‘at bats’ to hasten process to charter and Toll booth effect not too shabby for ‘mothership’
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They should be out early next week, don’t you think?
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I wish!
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lol you must be dreaming, aren’t you? Are you a L3 candidate?
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Looks like results will be released the same as normal according to the email they sent 
No specific dates yet of course, but it is the usual timeline…
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very useful, thx
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Hi everyone… Is the results actually going to be released later than normal this time? Or is this the normal time? Because i thought it was something around 9th of Feb, not end of Feb per the email they sent yesterday! 
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