So what do you think about the change to 3 choices?

[f2d]

CFAI is changing the exam format to be 3 choices per question instead of 4, what do you think? (Starting 2009)

 

[billbelemy22]

higher passing rates becauase now you have a 33% of getting an answer correct without knowing anything instead of a 25% chance...much better odds.

that will be the saving grace if I fail Level I this time around. If i can eliminate at least 1 wrong answer of the 3, then my odds become 50/50 for scoring points for a question i was likely to get wrong.

 

[wake2000]

why are they doing this again?

 

[jmuc85]

I doubt the pass rate will change much. The MPS would like increase by a small amount, thus still leaving approximately the same number of people passing. Like their reasoning states, it is usually very easy to cross out at least one of the possible answers, thus leaving you with a 33% chance anyways.

 

[SkipE99]

billbelemy22 Wrote:
-------------------------------------------------------
> higher passing rates becauase now you have a 33%
> of getting an answer correct without knowing
> anything instead of a 25% chance...much better
> odds.
>
> that will be the saving grace if I fail Level I
> this time around. If i can eliminate at least 1
> wrong answer of the 3, then my odds become 50/50
> for scoring points for a question i was likely to
> get wrong.


yeah, but you also have to remember that everyone else has a better chance of passing too. I dont expect the pass rate to jump up a lot because of the change to the format

 

[rn118]

Passing rates won't change at all. I think it's pretty easy to eliminate 2 choices. It's choosing between the last 2 answers that I find to be difficult. You can only be a lucky guesser for so long. Not too many can get away with guessing on many questions and expect to pass. They could change to only 2 choices and test would be just as difficult.

 

[the show NY]

sometimes youve never seen a question, or youre low on time and just guess completely.

for questions like this, having one answer gone can really make a difference.


also, does anyone think theyll make the questions more difficult? or longer?

 

[jlive1975]

Will be meaningless, as I've told everyone who told me they're waiting for the 2009 test which "should be easier" due to the lower # of answers.

They'll either make the questions tougher or remove the obviously wrong answer. I'm at the point where I can consistently eliminate 2 answers, it's choosing between the final 2 that makes or breaks you.

Anyone who's low on time and needs to guess completely probably is not in a position to pass to begin with.

Check out my blog

http://myCFAadventure.blogspot.com

 

[bchadwick]

I don't think it will change the pass rates that much. Two reasons:

1) With 240 questions at L1, 120 questions at L2, and 60 questions at L3, you have to be AWFULLY lucky to get 60%+ by simple guessing. Marginal candidates will have a slight advantage, perhaps, but most of us are by definition NOT marginal candidates.

2) The Angoff method of setting the minimum passing score will probably take into account the smaller number of answers. This will essentially push up the minimum passing score, because the method will probably assume that a large number of "minimally qualified candidates" will get the answer right. As a result, the overall pass rates will not change all that much.

There will definitely be an initial perception that the exam is easier because of having only three choices. However, if we see similar failure rates on a test that has 3-choice answers, maybe it will seem even more dramatically difficult to the public.

I just wonder how the 3-answer format is going to work with the two-fer questions like:

Is knowing the answer a violation, and is writing down the answer a violation.

Violation, Violation
No Violation, Violation
Violation, No Violation
No Violation, No Violation


How are they going to put those into a three-answer form?



Edited 1 time(s). Last edit at Monday, December 1, 2008 at 05:16PM by bchadwick.

 

[f2d]

Yeah, for MOST questions, a 4th choice is indeed redundant since a high quality multiple choice exam only needs to have 2 very good, plausible choices.

But for the Yes yes, no no style questions.. reducing that to 3 choices is silly.

 

[jut111]

i hope i never know how it looks for level 1.

but I'm looking forward to it at level II : )