meaning of MPS

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zerobeta

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seriously what does MPS mean actually?
I find the links from CFAI website arent that helpful..
1) if say MPS is 65%, does it mean as long as my total score is >65%, I will pass? Regardless of my score for each topic?
2) how does the bracketing system work? If I get 4 questions out of 6 correct for a topic (67%), will my score for that topic = (51-70%)? Or does it depend on how well I did for that topic compared against other candidates?
3) does every question carry the same weight? i.e. 3 points for each multiple choice question?
4) what’s the worst score you have known to have passed Level III exam?
thanks!
 
Hi S2000magician, but do you know the answers to my questions? thanks
 
zerobeta wrote:seriously what does MPS mean actually?
I find the links from CFAI website arent that helpful..
Click to expand...
I believe that the answers are:
zerobeta wrote:1) if say MPS is 65%, does it mean as long as my total score is >65%, I will pass? Regardless of my score for each topic?
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Yes, but if you’re on the border (65% ± ε), your Ethics score (above or below 70%) will determine whether you pass or not.
zerobeta wrote:2) how does the bracketing system work? If I get 4 questions out of 6 correct for a topic (67%), will my score for that topic = (51-70%)? Or does it depend on how well I did for that topic compared against other candidates?
Click to expand...
I’d say 50% – 70%.
zerobeta wrote:3) does every question carry the same weight? i.e. 3 points for each multiple choice question?
Click to expand...
Yes.
zerobeta wrote:4) what’s the worst score you have known to have passed Level III exam?
Click to expand...
Got me.
zerobeta wrote:thanks!
Click to expand...
My pleasure.
 
zerobeta wrote:
seriously what does MPS mean actually?
I find the links from CFAI website arent that helpful..
1) if say MPS is 65%, does it mean as long as my total score is >65%, I will pass? Regardless of my score for each topic?
2) how does the bracketing system work? If I get 4 questions out of 6 correct for a topic (67%), will my score for that topic = (51-70%)? Or does it depend on how well I did for that topic compared against other candidates?
3) does every question carry the same weight? i.e. 3 points for each multiple choice question?
4) what’s the worst score you have known to have passed Level III exam?
thanks!
Click to expand...
You can’t honestly be serious with these questions.
 
Thanks!
apology if my questions sound very stupid
 
Never worry about the things that havent happened or things you cannot change.
 
First of all, you reached L3 and doesnt know what MPS means? Then nobody knows exactly what is the MPS every year nd CFAI does not disclose it..There might be estimation especially for Band 10 failures then you can indiacate range of what’s an MPS.
Second, again you are a L3 candidate and if you scored 4/6.. what range you should be 50-70 or above 70%.. (Math Calculation)Even if everyone scores ZERO and you scored 4/6 you would get between 50-70%. Nothing changes
Third, What do you mean every questions carry the same weight? if you are talking about PM session each Vignitte (item set is 18 points with 6 questions/ each 3 points, Easy to calculate?) - Nothing is variable except there is topics which can have more item sets, thus more questions, more weights? I wonder how you didnt notice that? - for AM its the same thing = Minutes allocated to Q= Points = Points/180 = % of Morning.
Last, but not least, unless if you want to run- linear-regression analysis or time-series analysis for 10 years you can find the worst score for 1,000 random people. Whats the point to know? MPS varies every year, pass rates changes every year, and does scores varies..
 
In my opinion, some of questions asked are very valid.
Example :
“
zerobeta wrote:1) if say MPS is 65%, does it mean as long as my total score is >65%, I will pass? Regardless of my score for each topic?
Yes, but if you’re on the border (65% ± ε), your Ethics score (above or below 70%) will determine whether you pass or not.
“
So basically if MPS is 65% and some one got 64.99% but lets say 100% in ethics, she would pass but if some one got 65.01% but is low on ethics score, might fail. Right ? So basically 65% does not necessarily mean, it is “Minimum Passing score”, No ? Hence, the question that, what exactly is definition of MPS is quite valid to be honest.
 
No I think if MPS is 65% and u got 65.01% but with <50% score in Ethics, u will still pass.
Am i right guys? Most of the time Ethics adjustmnent is to enable candidates to pass, not to fail them.
 
vgmalu wrote:
No I think if MPS is 65% and u got 65.01% but with <50% score in Ethics, u will still pass.
Am i right guys? Most of the time Ethics adjustmnent is to enable candidates to pass, not to fail them.
Click to expand...
I’m pretty sure the Institute’s website says that an Ethics adjustment can turn a borderline pass into a fail and a borderline fail into a pass. It just depends on which side you are on and how well you did in Ethics. I’ve seen a few people on here post reference to the CFAI website regarding the adjustment, but I haven’t searched for it.
 
The rule is that if one meets the MPS he or she passes otherwise this does not make sense.
if one is bordering the MPS meaning close to MPS than ethics adjustment takes place.
 
Mikewinner wrote:The rule is that if one meets the MPS he or she passes otherwise this does not make sense.
Click to expand...
Are you sure that that’s the rule?
You say that the MPS is 65%, but you can pass with 63% and Ethics > 70%.
I say that MPS is 63%, but you can fail with 63% or 64% and Ethics < 70%.
The results are identical.
Why is your way “the rule” and my way not?
 
The rule is:
“The Board of Governors instituted a policy to place particular emphasis on ethics. Starting with the 1996 exams, the performance on the ethics section became a factor in the pass/fail decision for candidates whose total scores BORDERED the minimum passing score. The ethics adjustment can have a POSITIVE OR NEGATIVE impact on these candidates’ final results.
CFA Institute has a policy of not releasing either the minimum passing score or individual candidate scores. Consequently, CFA Institute does not release specific information about the ethics adjustment or the candidates who were affected. The adjustment has had a net positive effect on candidate scores (and thus pass rates) in most exam sessions. The published pass rates always take into account the ethics adjustment for borderline candidates.”
Source: CFA Institute
Very simple and straightfoward.
 
You are wrong again! Just read carefully pal… If one makes the MPS he passes no ethics adjustment ! If one borders the MPS in your case if MPS is 63% and you got 62% then ethics comes into play if you got 63% than one passes . It is that simple..
Lastly, yes results are identical but they are not similar, the exact scores are not known with certainty due to the ranges… Hence simple assumption is that the second guy got higher scores ! And on top of that with ethics lower than 50% range which again proves the hypothesis so called “my rule” that if you nail the MPS you nail the exam!
http://www.analystforum.com/forums/cfa-forums/cfa-level-iii-forum/91344049
S2000magician wrote:
Mikewinner wrote:The rule is that if one meets the MPS he or she passes otherwise this does not make sense.
Click to expand...
Are you sure that that’s the rule?
You say that the MPS is 65%, but you can pass with 63% and Ethics > 70%.
I say that MPS is 63%, but you can fail with 63% or 64% and Ethics < 70%.
The results are identical.
Why is your way “the rule” and my way not?
Click to expand...
 
I think you are wrong…
A “border” surrounds something. So, a 64 borders 63.
A “negative” impact on a candidate’s final results means that a candidate goes from a passing score based on MPS, to a failing score because of ethics adjustment.
If the above were not true, than there would be no such “negative impact”, because a failing score based on MPS, is a failing score.
 
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