how CFAI is going to design the pass line..
Ok, if most of us scored 40%-50% in the AM, does that make a lot of fail, or is that going to adjust relative to that?
I think last year’s results (and low pass rate) would indicate that it means that a lot of us fail. When asked about the decline in pass rate, CFAI specifically said something to the effect of “There were far fewer candidates who met the passing standard” or some such. This says to me that they don’t care how many pass as long as they feel the MPS if fair.