52% pass rate for 2012 Level III

52%? i could not find even a single person here who passed level 3 this time.
I am not sure what will give me that courage to studey that hard again.
 
Surprisingly, it made me feel bad before I got my email (I saw the number on the CFAI website), because I felt like I was going to fail, and would hate to fail in a year where the majority passed. After getting a passing score, I felt bad because so many others passed as well. I know that’s a lame reason, but it is just what I felt.
I am done with all of that, and just happy now. I respect those who got a failing result but will take that as motivation to work even harder to pass next year. Overcoming adversity deserves everyone’s respect.
 
makes me absolutely feel glad - ´cause i don´t know if i had passed with a score of 51%… but that doesn´t matter
congrats to the others… otherwise head up!
 
It makes me feel just fine.
Folks, remember that the 52% is of a set of test takers who passed both Level I and II.
Of a hypothetical 100 people that start the CFA program and given current rates, 38% will pass I, 42% will pass II, and 52% will pass III, which means that out of the initial 100 about 38% x 42% x 52% = 8%, or on average 8 / 100 will complete all 3 levels and get the charter.
So 8% is the overall pass rate for the program!
 
After a few beers and a bottle of wine, I couldn’t care less. A pass is a pass. If I posted my results, you would think, how did he pass? But it’s finally over. Congrats to those who are done. And those who have one more year, you have a major edge. Get to work before Christmas and start doing problems after that. You will make it. Sorry of this post makes zero sense. I am almost hammered.
 
Sounds about right to me. I hated the pass rates when I was at level 1. Conspiricay theories about CFAI etc. Even though I struggled, I have come to respect the program even more. And I said this before I passed L3. In fact it was the reason I kept reloading. It was because ultimately it made me better as an analyst and a PM. And judging by my attempts, I must either be really good or really bad. L1: 2x. L2: 4x. L3:3x. Wall of Fame or Shame? No matter to me now.
 
Good for you……a pass is a pass, congratulations!!
 
ImmunizeThis wrote:
It makes me feel just fine.
Folks, remember that the 52% is of a set of test takers who passed both Level I and II.
Of a hypothetical 100 people that start the CFA program and given current rates, 38% will pass I, 42% will pass II, and 52% will pass III, which means that out of the initial 100 about 38% x 42% x 52% = 8%, or on average 8 / 100 will complete all 3 levels and get the charter.
So 8% is the overall pass rate for the program!
Click to expand...
You can’t calculate it like that.
CFAI officially released stats saying 1 in 5 will ultimately make it
 
Level 3 rates have hovered around 50% in recent years and before the CFA became trendy it used to be even higher. Bottom line, if you made it this far, you know what it takes to pass so passing L3 shouldn’t be harder.
 
ImmunizeThis wrote:
It makes me feel just fine.
Folks, remember that the 52% is of a set of test takers who passed both Level I and II.
Of a hypothetical 100 people that start the CFA program and given current rates, 38% will pass I, 42% will pass II, and 52% will pass III, which means that out of the initial 100 about 38% x 42% x 52% = 8%, or on average 8 / 100 will complete all 3 levels and get the charter.
So 8% is the overall pass rate for the program!
Click to expand...
That’s some pretty dodgy math, particularly for someone in the CFA program…
 
KilgoreTrout wrote:
ImmunizeThis wrote:
It makes me feel just fine.
Folks, remember that the 52% is of a set of test takers who passed both Level I and II.
Of a hypothetical 100 people that start the CFA program and given current rates, 38% will pass I, 42% will pass II, and 52% will pass III, which means that out of the initial 100 about 38% x 42% x 52% = 8%, or on average 8 / 100 will complete all 3 levels and get the charter.
So 8% is the overall pass rate for the program!
Click to expand...
That’s some pretty dodgy math, particularly for someone in the CFA program…
Click to expand...
My point is just that the number of people who actually finish the program are a lot less than 52%…and if my math is so dodgy then please do educate me on a better way to manually approximate the overall completion rate
 
ImmunizeThis wrote:
Of a hypothetical 100 people that start the CFA program and given current rates, 38% will pass I, 42% will pass II, and 52% will pass III, which means that out of the initial 100 about 38% x 42% x 52% = 8%, or on average 8 / 100 will complete all 3 levels and get the charter.
So 8% is the overall pass rate for the program!
Click to expand...
You calculated the odds of someone passing all 3 levels on the first try.
 
ImmunizeThis wrote:
KilgoreTrout wrote:
ImmunizeThis wrote:
It makes me feel just fine.
Folks, remember that the 52% is of a set of test takers who passed both Level I and II.
Of a hypothetical 100 people that start the CFA program and given current rates, 38% will pass I, 42% will pass II, and 52% will pass III, which means that out of the initial 100 about 38% x 42% x 52% = 8%, or on average 8 / 100 will complete all 3 levels and get the charter.
So 8% is the overall pass rate for the program!
Click to expand...
That’s some pretty dodgy math, particularly for someone in the CFA program…
Click to expand...
My point is just that the number of people who actually finish the program are a lot less than 52%…and if my math is so dodgy then please do educate me on a better way to manually approximate the overall completion rate
Click to expand...
This is a reasonable approximation of % of CFA takers to pass all 3 levels on the first attempt. Obviously it doesn’t account for dependance or the fact that candidates will re-take exams. But the idea is clear- a majority of people that set out on the CFA path never make it to the end.
Celebrate!
 
diggles15 wrote:
ImmunizeThis wrote:
Of a hypothetical 100 people that start the CFA program and given current rates, 38% will pass I, 42% will pass II, and 52% will pass III, which means that out of the initial 100 about 38% x 42% x 52% = 8%, or on average 8 / 100 will complete all 3 levels and get the charter.
So 8% is the overall pass rate for the program!
Click to expand...
You calculated the odds of someone passing all 3 levels on the first try.
Click to expand...
Agreed. Ok so let’s say we want to improve our ballpark estimate by taking retakers into account, and make the assumption that no one fails a given level more than once (not true, but let’s go with it).
Here’s what’s known:
Pass (1,2,3): 38%, 42%, 52%
Fail (1,2,3): 62%, 58%, 48%
So that leaves the following scenarios (for those who ultimately complete program) and probabilities:

Fail None : PPP : 8.3%
Fail 1 : FPPP : 5.1%
Fail 2 : PFPP : 4.8%
Fail 3 : PPFP : 4.0%
Fail 1, 2, 3 : FPFPFP : 1.4%
Fail 1 and 2 : FPFPP : 3.0%
Fail 2 and 3 : PFPFP : 2.3%
Fail 1 and 3 : FPPFP : 2.5%
This adds up to a total of 31%, which is slightly closer to the 1 in 5 that iteracom cited. What do y’all think?
 
First, sorry - rereading my response I think I came across a little harsh.
Second - I just wouldn’t bother trying to calculate it since CFAI withholds such a critical piece of the calculation (number of new takers vs retakers at each level). The calculation would be fairly sensitive to that data and it is really impossible to estimate. I think everyone who’s ever taken even one CFA exam knows how grueling the program is, so I think those of us who have managed to get through should be thrilled and not worry to much about the statistics.
 
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