why still low pass rates on Level 3

[itera]

The Righteous Hacksaw wrote:

andyxu wrote:What’s the point of a third level if the pass rate is too high?

Agree, now that I’ve passed, I believe that they should make all the exams twice as hard.

heck, they should just make the pass rate for all 3 levels limited to the top 25% only.

 

[fight4life]

I think it is lack of motivation

 

[vicky_cool400]

50% is less ?

 

[andytrader]

Not that I have passed I’m also glad to see pass rates going down. If morning essays are not presented in a concise, cogent response then person should fail. We need analysts with ability to communicate their ideas. Not more number jockeys

 

[geo]

gringo_bob wrote:The simple answer is that the CFAI wants to limit the absolute number of new charter holders per year. The number of candidates is going up so in order to control the number of new charter holders the pass rates have gone down.

CFA is pretty clear on how they approach setting the MPS and that is certainly NOT how it’s done.
I’d say declining L3 pass rates (and in general) are likely due to higher numbers of non-native English speakers every year, which may have more difficulty in a time pressure exam than the traditional exam taking. This is especially evident at Level 3, which has seen the highest drop off.
I can’t imagine writing Level 3 in one of my second languages. There is no way I’d be able to pass with the same preparation. So as the program expands globally, I’d suspect the pass rate would decline, particularly in language heavy level 3.

 

[NANA Hachiko]

pierrewoodman_fan wrote:why still low pass rates on L3?
I thought all the weak candidates were already weeded out with the hard ass level 2 exam
With a 50% pass rate, how come there are people still failing this level? is the material harder? Is it because there are non-native English speakers? What if they did an analysis on which countries the level 3 candidates who passed came from, would the majority come from English speaking countries? I hope that troll itera doesnt derail this thread

I think it’s a little bit of everyting.
And i say the BIGGEST REASON for the low pass rate is the misconception that “Level 2 is the tough one, Level 3 is just a walk in the park”…
I don’t know who and when was this idea started but it’s such a lie! A lot of people were fooled to believe it’s easier and the rest get killed in the AM.
NANA

 

[igor555]

NANA Hachiko]

wrote:
“Level 2 is the tough one, Level 3 is just a walk in the park”…

never heard that, did you start that rumor?

 

[NANA Hachiko]

igor555]

wrote:

pierrewoodman_fan wrote:
“Level 2 is the tough one, Level 3 is just a walk in the park”…

never heard that, did you start that rumor?

Perhaps not in your area? i don’t know, but i used to hear so many people say that until i was in level 3 and other candidates are like “no, level 3 is just as tough!”
Especially people who are not in the CFA program, they always say “now that you passed level 2, you are over the hump and you will be done in no time!”

 

[gringo_bob]

I’m not saying that each year the CFAI decides the number of new charterholders and then sets the mps for level 3 accordingly, i’m just saying that it’s in their interest to keep the designation prestigious whilst simultaneously maximising their exam fees hence they’ve made level 3 harder and the pass rate has gone down from the 68% or whatever it used to be.

 

[Hank Moody]

You’re citing unsupportable ideas. If fees were a motivating factor, they would pass more candidates in order to collect dues, which effectively go on for life.

gringo_bob wrote:I’m not saying that each year the CFAI decides the number of new charterholders and then sets the mps for level 3 accordingly, i’m just saying that it’s in their interest to keep the designation prestigious whilst simultaneously maximising their exam fees hence they’ve made level 3 harder and the pass rate has gone down from the 68% or whatever it used to be.

 

[Hank Moody]

This sounds intuitively correct, but I recall reading somewhere that the pass rates are no lower in foreign, non-English speaking counties. But then I cannot recall if that was for all exams or just Level III.

geo wrote:
I’d say declining L3 pass rates (and in general) are likely due to higher numbers of non-native English speakers every year, which may have more difficulty in a time pressure exam than the traditional exam taking. This is especially evident at Level 3, which has seen the highest drop off.
I can’t imagine writing Level 3 in one of my second languages. There is no way I’d be able to pass with the same preparation. So as the program expands globally, I’d suspect the pass rate would decline, particularly in language heavy level 3.