Expected MPS for L3 2015.

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manuag

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As we are done with the exam now, there is common feedback that some folks couldn’t manage time and left at least 15 minutes worth exam part in AM and found PM easy leaving the ethics part. I believe I too represent the majority.
What is your view on MPS for the exam. I know retakers can provide more insight on relative ranking.
 
I would say 65% overall. I saw a lot of posts on official results for past years and everyone who passed or failed thought they nail the AM down but the results show different and I saw terrible results with a pass title. So let’s just hope the conference on the candidates here subject to survivorship.
 
Always a fun topic but I think it substantially lower than most people think. I would be surprised if it were much higher than 61%-62% most years. I would also love to know the percentage of candidates who hit the 70% threshhold most shoot for.
 
I am hoping that MPS is as low as possible, AM went pretty bad, i missed out on 22 minutes and thats hell lot than others i think (7 points right?) and other Qs also did not go too well. so I think i will only score 28 points of so.
My only hope is the PM where if i can score 48 or so and MPS is as low as ~62% then i stand some chance, else bye bye CFA (This was my 2nd and last try)
 
Glue85, do you have link for the last year results?
 
vgmalu wrote:
I am hoping that MPS is as low as possible, AM went pretty bad, i missed out on 22 minutes and thats hell lot than others i think (7 points right?) and other Qs also did not go too well. so I think i will only score 28 points of so.
My only hope is the PM where if i can score 48 or so and MPS is as low as ~62% then i stand some chance, else bye bye CFA (This was my 2nd and last try)
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By 48, I assume you mean 80%, if that’s the case then I would be very surprised if you did not pass no matter how atrocious your AM was. I think the majority of people who finish the exam were rushing through questions and could be missing easy things that they else wouldn’t. I think I missed 25+points and I actually feel pretty good, which probably means I’ll fail lol. Seriously, I think for the vast majority of exam takers there is a very real trade off speed versus quality. I cruised through LI and LII within 6 months with a very small amount of studying and thought I could do the same for L3. This was my third time taking the exam! The first time I ran through all the AM questions with time to spare and thought I crushed it. I got band 3!! I didn’t even take a mock, so I had absolutely no clue about how to go about the AM session but I foolishly thought my answers, which humorously were scattered with historical examples (e.g. This event occurred to XYZ company in 1983, etc.), were sufficient enough for me to pass. Anyways, last year I made a good effort to know all the material and even went overboard (e.g. deconstructing black-litterman). Unfortunately, I was incredibly slow and only answered 7/11 questions. I estimated based on the points on the questions that I skipped that I left approximately 50 points or so blank. I did farily well on PM but nothing special (I feel pretty confident it was 66%-68%) and got a band 10. A lot of people I know who have passed, have done so while skipping a full question or two. I think a lot of times we are just focusing on our own problems with the exam in isolation without considering all the issues other exam takers. So, I wouldn’t stress out on the need for your PM score to breach 80% just to have a chance of passing because you left a few sections blank on the AM session .
 
Found AM tough and PM Ok! I think it should be early 60’s, nothing above 64!
 
Found AM tough and PM Ok! I think it should be early 60’s, nothing above 64!
 
Figuring out an MPS might be relevant, sure, but I personally don’t have any idea how the morning portion is graded. To say the MPS is 65% is sort of meaningless if I don’t know how half the test is graded.
 
Figuring out an MPS might be relevant, sure, but I personally don’t have any idea how the morning portion is graded. To say the MPS is 65% is sort of meaningless if I don’t know how half the test is graded.
 
AM wasn’t easy but in my opinion one of the easier ones of the last years.
PM was ok as well. Got nothing to compare to it since I don’t know what was asked last year. Overall, the MPS should be rather high this year, probably around 65.
 
Question: is the yearly pass rate fixed from year to year? or it is adjustable depending on the overall performance?
 
what does MPS actually mean? and in regards to our score, if we get 4 out of 6 correct for a topic (i.e. 67%), does it mean we will be put into 51-70% bracket? or does the bracketing depend on the score of other candidates as well?
 
tyler4040 wrote:
vgmalu wrote:
I am hoping that MPS is as low as possible, AM went pretty bad, i missed out on 22 minutes and thats hell lot than others i think (7 points right?) and other Qs also did not go too well. so I think i will only score 28 points of so.
My only hope is the PM where if i can score 48 or so and MPS is as low as ~62% then i stand some chance, else bye bye CFA (This was my 2nd and last try)
Click to expand...
By 48, I assume you mean 80%, if that’s the case then I would be very surprised if you did not pass no matter how atrocious your AM was.
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48 is my higher end assumption, It should be close to 42-48 range, though i have no clue about AM, so keeping my fingers crossed for a low MPS :-)
 
I have a theory on that.
IMO the overall format changed, with a drift from breadth to depth, which is pretty obvious if you compare saturday’s exam to past years.
What does that mean ? Honestly I think they are looking to fail alot of people this year.
 
tyler4040 wrote:
vgmalu wrote:
I am hoping that MPS is as low as possible, AM went pretty bad, i missed out on 22 minutes and thats hell lot than others i think (7 points right?) and other Qs also did not go too well. so I think i will only score 28 points of so.
My only hope is the PM where if i can score 48 or so and MPS is as low as ~62% then i stand some chance, else bye bye CFA (This was my 2nd and last try)
Click to expand...
By 48, I assume you mean 80%, if that’s the case then I would be very surprised if you did not pass no matter how atrocious your AM was. I think the majority of people who finish the exam were rushing through questions and could be missing easy things that they else wouldn’t. I think I missed 25+points and I actually feel pretty good, which probably means I’ll fail lol. Seriously, I think for the vast majority of exam takers there is a very real trade off speed versus quality. I cruised through LI and LII within 6 months with a very small amount of studying and thought I could do the same for L3. This was my third time taking the exam! The first time I ran through all the AM questions with time to spare and thought I crushed it. I got band 3!! I didn’t even take a mock, so I had absolutely no clue about how to go about the AM session but I foolishly thought my answers, which humorously were scattered with historical examples (e.g. This event occurred to XYZ company in 1983, etc.), were sufficient enough for me to pass. Anyways, last year I made a good effort to know all the material and even went overboard (e.g. deconstructing black-litterman). Unfortunately, I was incredibly slow and only answered 7/11 questions. I estimated based on the points on the questions that I skipped that I left approximately 50 points or so blank. I did farily well on PM but nothing special (I feel pretty confident it was 66%-68%) and got a band 10. A lot of people I know who have passed, have done so while skipping a full question or two. I think a lot of times we are just focusing on our own problems with the exam in isolation without considering all the issues other exam takers. So, I wouldn’t stress out on the need for your PM score to breach 80% just to have a chance of passing because you left a few sections blank on the AM session .
Click to expand...
I am in agreement with what you said. I don’t have real time previous exam experience, but I did attempt old question papers in perfect exam time situation. In one exam (2013) I ran out of the time and left around 25 minutes un-attempted. In another exam (2014), I quickly completed all the questions and thought I cracked it. But my self-assesment in both the exams was almost same. Therefore, as you said, it may depend on how well ( or close to CFAI) your responses were in AM than the completness of the AM exam.
 
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