Band 2 - Shocking!!!

Some of you are speculating about answering at the wrong place, but no, not me. I read this issue on this forum last year, and talked to multiple people at work place. So, first thing I made sure to myself during the AM session was putting the answers at the right place.
And yeah, I missed few questions for sure, but there was no way that I completely bombed the am session. I also managed time to finish all am questions.
I am little lost… I am just looking at my score and laughing. No disappointment, no depressing, no sadness, just “no way” feeling.
 
Hank Moody wrote:
Your matrix is not that far below passing. I think the score distribution at Level III is pretty narrow.
Yes. I can speak from experience that it is really the case. One year I was band 10 and in another year I was in band 4. Think of the normal distrubition graph with a very large hump in the middle. Probably only 1 or 2 multiple choice questions separte each band, I think.
 
I’m completely heartbroken at my result, I ‘d done even worse last year, but then hadn’t studied at all. But this year, I had definitely put in the time.
The one common factor between both the years is my dismal AM performance. I especially need some guidance on Individual & institutional PM, and I know I just didn’t go and scribble some crap there. Is there some special technique to attempt these questions? I’ve seen the Schweser sample answers and the CFAI ones and I think I definitely attempted my answers on those lines. But I’m foxed at my individual & institutional scores. I just can;t figure out, what am I doing wrong?
Essay
Q#
Topic
Max Pts
<=50%
51%-70%
>70%
1
Portfolio Management - Individual
27
*
-
-
2
Portfolio Management - Individual
9
*
-
-
3
Portfolio Management - Execution
21
-
*
-
4
Portfolio Management - Individual
17
*
-
-
5
Economics
24
-
-
*
6
Portfolio Management - Institutional
34
*
-
-
7
Fixed Income Investments
23
*
-
-
8
Derivatives
13
*
-
-
9
Derivatives
12
*
-
-
Item Set
Q#
Topic
Max Pts
<=50%
51%-70%
>70%
-
Alternative Investments
18
-
*
-
-
Equity Investments
18
*
-
-
-
Ethical & Professional Standards
36
-
*
-
-
Fixed Income Investments
18
*
-
-
-
Portfolio Management
18
*
-
-
-
Portfolio Management - Asset Allocation
18
-
-
*
-
Portfolio Management - Individual
18
-
-
*
-
Portfolio Management - Performance Eval.
18
-
-
*
-
Portfolio Management - Risk Management
18
*
-
-
We have divided the group of candidates who did not pass into 10 approximately equal score bands. Your score band below shows how your overall score on the exam compares with the overall scores of candidates who did not pass this exam.
Your score band: 4
 
Yeah I got very similar results to GPM… completely bombed the AM. For the questions which tell you to write on the lined paper, you can write your answer on ANY of the lined pages correct as long as it’s labeled? For example I sometimes skipped a question and went back to it, so I think I wrote some answers on the lined paper that came after other questions so they weren’t in order, like I would write the answer to 2a) on the lined paper that came after the template for question 2b). I’m pretty sure I labeled everything correctly however.
And is there any way to see how CFA grades the essay portion? CFA only provides practice exams for the multiple-choice portion which I (and pretty much everybody else who failed) had issues with.
 
^^ they provide previous AM session with answers too.
 
You’re right. For some reason I could have sworn they didn’t. That almost makes me feel worse.
 
Hi cfano1,
I was in the same boat as you last year…got trashed in the AM (almost all <50) and got band 4. I was also shocked…I was pretty well prepared, so how could i not get 50% of the problems right in ANY section! I decided i must have had a bad day and studied again. I retook the 2011 test towards the end of my 2012 studying. I was hoping for a EUREAKA moment where i realized what i did wrong…I was extremely rough on my grading and still got about an 85%. There were huge sections of the test that I know for a FACT i had knew how to do in 2011 but still got low scores by their grading.
Fast forward to this test. I walked out of the test feeling i did a little better with another year of studying…no gotcha questions…i knew how to do everything. Of course there were a couple questions that could have gone either way (so i assumed i went the wrong way), but I still felt confident. The only thing that bothered me was since i didn’t know what i did “wrong” in 2011 did i do the same thing “wrong” in 2012?
Well this time…band 8. A little better in the morning..but still 5 sections <50. Whatever i did wrong in 2011, i did must have done “wrong” again in 2012. I’m starting to think this can’t be a knowledge thing….I’m not stupid…i promise :) Maybe it’s something in the formatting that I personally don’t think is a big deal…but the graders obviously do. 50% of the people are passing…so it would have to be something that everyone else is doing automatically.
Example: if $1,213.45 is the answer did i answer one of the following and get it COMPLETELY WRONG
1,234.56 (no currency sign)
$1234.56 (no comma)
$1234.452 (diff precision)
Surely not right? But I’m pretty sure some of those sections that were <50 I knew how to do (just like in 2011)
When grading my own mock tests…I’m sure i would have counted each of those as correct. This would be easy to fix if i knew the grading was that picky…but telling me i got <50 doesn’t help me prepare much for the next year. It also hurts the ego just a bit :) You might feel a little different if you knew your band 2 was actually a 80% (just a few points off for a dumb mistake instead of the entire problem) but the passing required an 86%.
I’m not sure what I’m going to do here…but since this test didn’t seem overly difficult to me and I felt really well prepared…I don’t see how another year will help. If i do it again…i may focus on the afternoon and make sure i get >70% in all sections. If the bands are tight…maybe that’s the place to make up ground.
 
Skyro wrote:
And is there any way to see how CFA grades the essay portion? CFA only provides practice exams for the multiple-choice portion which I (and pretty much everybody else who failed) had issues with.
CFAI has past essays with guideline answers on its website. You can’t really see what’s a minimum acceptabe answer or how past scores are given (if any), but it can give you a good idea on what they were looking for.
edit: this was answered already. my bad
 
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