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Understanding your CFA exam results

Posted on October 25, 2018 10:38 am;

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Understanding your CFA exam results

While the CFA examination itself provides a challenge on the day, interpreting those all-important results can also be rather puzzling too. In the following article, we offer some brief tips on the main facets of the standard results format to assist in understanding your CFA exam results.

Pass or fail

The email notification that is sent to all candidates will be headed either by a “pleased to inform you that you have passed” or a regretfully informed failure. The advice will also inform you of the percentage of candidates that passed on the day.

Report explanation

The indication of either pass or did not pass accompanies a table that shows the relative performance by each topic.

The <=50%, 51-70% and >70% score bands indicate performance relative to those who failed the exam. Unfortunately, the CFAI doesn’t explain how that is calculated.

Score bands

The score bands are used to highlight the candidate’s strengths and weaknesses across the different topics and shouldn’t be compared because they vary from one exam to another.

Minimum scores for passing

A minimum score is calculated based on the overall performance of those who take part in the exam and it is never disclosed although it is rumored to be somewhere close to 70%.

Ethics adjustments

Borderline fails may be upgraded to a pass at the discretion of the examining authority if they deem there has been a strong performance in the ethics section. Unfortunately, it is a double-edged sword as it can swing the other way resulting in a pass being downgraded to a fail.

Retabulation procedures

In instances where you suspect that there has been an error in compiling your results, there is the facility to request a re-tabulation which is carried out in the form of a technical check against the grading of the paper. It is by no means an appeal and if you have failed, your best plan of action is to learn from any mistakes, dust off, and try again.

Our market-leading prep courses, instructional videos, and much more are designed to assist you in achieving your desired results. So, visit our website today and discover how we can help you to gain your CFA charter.

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