Higher Percentages to Pass instead, because, everyone, will, only

jlg1982

I'm sure I'm not the only one who's considered this, but based on the fact that there are now only 3 answers instead of 4, wouldn't that mean the percent needed to pass would be higher because everyone will do a bit better on this exam?

So we should be talking 80% or better?

Maddin

The odds of guessing correctly has improved; however, I doubt serious candidates are guessing throughout the entire exam. The rationale for the move from 4 to 3, as I understand it, was based on the fact that 1 of the 4 answer choices was generally way out in left field and any reasonably prepared candidate could eliminate that answer choice.

I've heard the min passing score could inch up a point or two or maybe three, but I seriously doubt 80.

Schweser and Stalla are still standing by the old saying "take solace in the fact that no candidate has ever failed w/ an overall score >70%"... of course we can't hold them to that, but I think they would have hedged by now if they truly thought the min passing score was going to 75 or 80.

Bulla564

The passing rate is based on the 70% of the average score among the top 1% candidate. IF the average among these brilliant minds is 94%, the MPS is 0.7*94 = 66%.

Well, ask yourself how tough to get a 94% in a 6 hour 240 Qs exam.

That is how the passing rate is set I presume.

FVPV

well that means , whatever be the highest score if you got more then 70% you are through ?

bluejazzy

If the minimum passing score is 70% of the top 1% scores ,then for sure it is 70% maximum .

johnnyBuz

i don't see the passing mark changing. it doesn't serve a purpose relative to other years, if they then go and drop it in 2 years time.
so long as the standards are met, that is all CFA institute is about. they are after all not for profit (i think)

waldziuchna

We really need a sticky about the MPS and how it is calculated.

Daniel1985

That means that almost always the rate MPS is 70 or less. 70 in the case that all top 1% score 100 which based on the CFAi email, I think has never happened. maybe they make it 73% or higher to make it harder.

kamara5

I agree

plus I beleive that maximum mps will be 70 pct

btw, I calculated probability of passing (say mps 70 %) with 3 and 4 possible answers if you just guess.

it is a nice exercise, and the difference is very low, close to probability of passing.

you can calc it too (use your quant knowledge base :-))

draz

It has no impact on the passing rate since only the top 20-30% scorers will pass

everyone has the equal chance for guessing the correct answer