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The Chartered Financial Institute is now adding transparency to candidates' score reports, which will help them get a clear picture of the results. These scale scores are a numerical representation of how the candidate did on the CFA exam. Using this, aspirants will be able to compare how well they performed against the Minimum Passing Score (MPS).
Various metrics, such as the minimum passing score, confidence interval, and topic-wise performance, provide valuable insights into how students have performed and where one can improve. Read the entire article to get a detailed understanding of CFA scoring metrics.
What is the CFA Minimum Passing Score?
The Minimum Passing Score (MPS) refers to the score required to pass the exam. Candidates who score below the MPS will not pass, while those who achieve MPS or above will pass. The purpose of setting the MPS is to ensure fairness to all candidates, as the difficulty level of the exam is also taken into consideration when setting the MPS. The table below outlines the MPS for each level of the CFA program:
If a candidate's score lies above the MPS line, they passed
If a candidate's score lies below the MPS line, they have failed
The minimum score on the exam needed to pass is that the aspirant's score matches or is equal to or greater than the prescribed number to “pass.” Candidates whose scores are lower than the MPS are considered to have failed. The MPS for each level are given in the table below:
Score and Confidence Interval Above MPS
A candidate who scores very well could have high confidence that they would have passed under nearly any circumstance.
Score and Confidence Interval Below MPS
A candidate who scores very poorly can have high confidence that they would not have passed under nearly any circumstance and would need to study much more to pass in the future
Score Below the MPS but Confidence Interval Overlaps the MPS
A candidate who scored close to the MPS might have passed under some sets of circumstances but, in most cases, would not have passed. With a little more studying, this candidate can push the odds in their favour.
CFA Level-Wise Minimum Passing Score
Programme Level | MPS |
CFA Level 1 | 1600 |
CFA Level 2 | 2600 |
CFA Level 3 | 3600 |
CFA Confidence Interval
The CFA exam confidence interval shows how a candidate's score could be impacted by various factors, like a good or bad test day. The light blue shading around the candidate’s score represents a 90% confidence interval. The top end reflects the score the candidate might achieve if the exam goes well, while the bottom end indicates what you could score if your weakest areas were tested or you had a tough day.
CFA Topic-Wise Performance
While there is no separate minimum passing score for each topic area. A strong performance in one topic can balance out a weaker performance in another. Aspirants' score on each topic indicates how well they did in each of these areas. Candidates planning to take another (or the same) level of the CFA exam in the future must know how their scores are measured for various topics. A good understanding of the topic-wise CFA score can guide students’ exam preparation for the future.
Candidates are advised to aim for advanced proficiency in most topics and score 70% or more on practice exams. The topic-level information reveals the relative strengths and weaknesses of the students for each topic area.
Budget analysis, in a nutshell, entails thoroughly analyzing the details of a financial budget. The budget analysis aims to better understand and manage revenue. Budget analysts assist in the achievement of financial targets, the preservation of profitability, and the pursuit of long-term growth for a business. Budget analysts generally have a bachelor's degree in accounting, finance, economics, or a closely related field. Knowledge of Financial Management is of prime importance in this career.
The invention of the database has given fresh breath to the people involved in the data analytics career path. Analysis refers to splitting up a whole into its individual components for individual analysis. Data analysis is a method through which raw data are processed and transformed into information that would be beneficial for user strategic thinking.
Data are collected and examined to respond to questions, evaluate hypotheses or contradict theories. It is a tool for analyzing, transforming, modeling, and arranging data with useful knowledge, to assist in decision-making and methods, encompassing various strategies, and is used in different fields of business, research, and social science.
An underwriter evaluates insurance, loan, or investment applications to assess risk and decide on approval terms. They analyse data, set premiums or terms, and ensure policies align with regulations. Key skills include analytical thinking, attention to detail, and communication. Underwriters help financial institutions manage risk and maintain profitability by making informed decisions on which risks to accept.
An Operations Manager ensures smooth business operations by overseeing departments like HR, finance, and supply chain. They implement processes, manage teams, maintain quality, ensure compliance, and plan strategically. Strong leadership, communication, and business knowledge are essential. Typically, they hold a degree in business or an MBA, playing a vital role in improving organisational efficiency and performance.
A Finance Executive manages a company’s financial operations, including monitoring income, expenses, and preparing financial reports. They develop strategies to improve profits and reduce costs, ensuring financial stability. The role demands strong accounting and analytical skills, attention to detail, and the ability to meet deadlines, making it ideal for proactive individuals with a solid finance background.
A Product Manager drives a product’s success by planning strategy, analysing markets, and collaborating across teams. They focus on user needs, guide development, and monitor performance. With tech advancements like generative AI, PMs now enhance innovation and decision-making. Adaptability and continuous learning are key in this evolving, high-impact career.
An Account Manager plays a key role in bridging the gap between a company and its clients, ensuring smooth communication and fostering long-term partnerships. They are responsible for managing and nurturing client relationships, understanding their needs, and crafting tailored strategies to achieve mutual goals. Account Managers also gather and analyse client feedback to drive service improvements, while promptly addressing and resolving any issues that arise.
A Bank Probationary Officer (PO) is an entry-level managerial role in the banking sector, involving responsibilities like handling customer queries, managing loans, overseeing cash flow, and supervising clerical staff. The role requires formal attire and offers opportunities for promotion to higher positions. After probation, the officer may specialise in areas like credit or risk management.
Welding Engineer Job Description: A Welding Engineer work involves managing welding projects and supervising welding teams. He or she is responsible for reviewing welding procedures, processes and documentation. A career as Welding Engineer involves conducting failure analyses and causes on welding issues.
A Quality Assurance (QA) Manager, synonymous with a Quality Assurance Manager, holds a pivotal role in ensuring products meet predefined standards. Responsible for planning, directing, and formulating control policies, the QA Manager safeguards company efficiency and profitability. By scrutinizing products for flaws and ensuring compliance with internal and external requirements, they uphold quality, validating the effectiveness of quality assurance teams in maintaining high standards before product release.
A Quality Controller monitors and tests products to ensure they meet quality standards in industries like manufacturing and pharmaceuticals. They inspect materials, conduct tests, document defects, and suggest improvements. Key skills include technical knowledge, attention to detail, and analytical ability. Typically requiring an engineering degree, they can advance from junior to senior roles overseeing quality processes and teams.
A Production Manager oversees manufacturing processes, ensuring timely and budgeted delivery of products. Responsible for safe, cost-effective production meeting quality standards, their role adapts to the production system. Also known as an Operations Manager, they manage human and material resources, contributing to efficient production and service delivery.
A Product Manager drives a product’s success by planning strategy, analysing markets, and collaborating across teams. They focus on user needs, guide development, and monitor performance. With tech advancements like generative AI, PMs now enhance innovation and decision-making. Adaptability and continuous learning are key in this evolving, high-impact career.
Individuals who opt for a career as product designers are responsible for designing the components and overall product concerning its shape, size, and material used in manufacturing. They are responsible for the aesthetic appearance of the product. A product designer uses his or her creative skills to give a product its final outlook and ensures the functionality of the design.
Students can opt for various product design degrees such as B.Des and M.Des to become product designers. Industrial product designer prepares 3D models of designs for approval and discusses them with clients and other colleagues. Individuals who opt for a career as a product designer estimate the total cost involved in designing.
An individual in textile engineering jobs is creative and innovative that involves the application of scientific laws and principles in everyday work responsibilities. Textile engineering jobs include designing fiber processing systems and related machinery involved in the manufacturing of fiber, cloth, apparel and other related products.
From design to manufacture, garment technologists oversee every stage of clothing production. Individuals are actively engaged in determining the perfect fabric and ensuring that production remains inside the budget. Garment Technologists operate very closely with the designing team, pattern cutters and consumers.
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