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DISASTER FOR CFA LEVEL-III
Rank: Member Joined: 7/28/2007 Posts: 290 Location: Nairobi
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Not a single Level-3 candidate around made it this time round!!! So sad!
At least level2 had four(4) and level-1 seven(7) candidates who passed!!! Thats means that out of the 600+ candidates that filled all the KICC auditariums on 5th June, only eleven candidates made it....This is less than 2% pass rate, whereas the global pass rate was about 42%.
Whats cooking??? Anyone???
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Rank: Elder Joined: 7/22/2009 Posts: 7,455
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What was the average age of the candidates? Might they be recent university graduates? 90% of recent graduates [around 2004 - 2010 give or take] are absolutely bure kabisa!!! They are what I'd call the "mwakenya society". Students who rely entirely on copying - short notes, discussing, passing answers around, googling etc. - to pass exams. They use the 90 - 10 approach. 90% copying, 10% cramming. If you put such individuals in a situation where there is zero tolerance to copying and questions are primary application questions - as opposed to state, define, list etc. - then they are done. A lady I know from UON once confessed she can't walk into an exam room without a "mwakenya" - even if she's not planning to use it! Same lady told me that some "big shots" in her class rarely sit for CATs or do assignments - they pay other students for the "service". Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 5/30/2009 Posts: 1,390
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MaichBlack wrote: 90% of recent graduates [around 2004 - 2010 give or take] are absolutely bure kabisa!!! They are what I'd call the "mwakenya society". Students who rely entirely on copying - short notes, discussing, passing answers around, googling etc. - to pass exams. They use the 90 - 10 approach. 90% copying, 10% cramming. If you put such individuals in a situation where there is zero tolerance to copying and questions are primary application questions - as opposed to state, define, list etc. - then they are done.
Wacha matusi, a good number of us abhor cheating What a wicked man I am!The things I want to do,I don't do.The things I don't want to do I find myself doing
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Rank: Elder Joined: 10/1/2009 Posts: 2,436
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@Kadonye, careful careful you are painting with a very very broad brush there.
@extrabaraka - are you sure of the cfa 3 results. Juu I know a mamacita who passed level 3
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Rank: Member Joined: 8/8/2009 Posts: 170
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June 2010 CFA Exam Pass Rates
* Level I: 42%
* Level II: 39%
* Level III: 46%@extrablessed....However, I cannot find country break-down anywhere on the Institute website. Can you please quote the source or upload the document on this or other file-sharing website and provide a link? ....I know someone who would like to put this on their resume. Thanks! Also, this WSJ article might give a clue as to general sentiment... http://online.wsj.com/ar...575433910053889780.html
It's being described as "Grade Deflation" and you can find historical pass rates below... https://www.cfainstitute...didate_exam_results.pdf
But most importantly....Never give up!"....A strong majority (73 percent) of candidates who responded to the survey said they would re-take the CFA exam the next time it is offered if they do not pass." https://www.cfainstitute...ges/08162010_45395.aspx
CFA > MBA
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Rank: Elder Joined: 7/22/2009 Posts: 7,455
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kadonye wrote:Wacha matusi, a good number of us abhor cheating And what are you doing about it? Cheating has reached epidemic levels in most universities! If you are sincere, you should raise hell. Talk to management - citing specific cases & lecturers, seek media attention - letters to editors, watchman, jicho pevu, k24 etc. People hate negative publicity. They would act in a heart beat. You can't just abhor cheating in silence unless at the back of your mind you are hoping one day it might come in handy. Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Veteran Joined: 1/7/2010 Posts: 1,279 Location: nbi
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The quality of candidates coming of our education system now is just abysmal. You can't hire fresh graduates for any office jobs other than one where they make tea for the first few weeks... The Governor of Nyeri - 2017
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Rank: Elder Joined: 5/30/2009 Posts: 1,390
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Really? What a wicked man I am!The things I want to do,I don't do.The things I don't want to do I find myself doing
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Rank: Elder Joined: 5/30/2009 Posts: 1,390
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Maich, They hate my tribe They speak ill of where I come from They stereotype people of my race And call me names coz of my wealth I choose not to be bitter And fight wazua wars within wazua What a wicked man I am!The things I want to do,I don't do.The things I don't want to do I find myself doing
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Rank: Member Joined: 7/28/2007 Posts: 290 Location: Nairobi
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@Drake, I happen to know a good number of the CFA candidates around,and my data is based on that sample...For level 1&2, refer to a thread posted some time in July.
All-in-all, there seem to be no explanation why out of the over 600 candidates who sat for their June exam at the Nbi centre, only a tiny fraction made it.....
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Rank: Member Joined: 8/8/2009 Posts: 170
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@extrablessed; Let me see if I got this right. You "know a good number of the CFA candidates around" who you proceeded to "sample" and this led you to stating (rather authoritatively) that.... "Not a single Level-3 candidate around made it this time round" ? I'll have to edit my earlier post! @Kadonye; Yeah. Really.
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Rank: Member Joined: 7/28/2007 Posts: 290 Location: Nairobi
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@Drake: Unless I had a seriously biased sample, I dont know what to call this...I would be expecting atleast 1/3 of all CFA candidates I know to report a pass!!!
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Rank: Member Joined: 10/26/2008 Posts: 380
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extrablessed wrote:@Drake: Unless I had a seriously biased sample, I dont know what to call this...I would be expecting atleast 1/3 of all CFA candidates I know to report a pass!!! In that case you know failures.. :)
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Rank: Member Joined: 7/28/2007 Posts: 290 Location: Nairobi
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Mkimwa wrote:extrablessed wrote:@Drake: Unless I had a seriously biased sample, I dont know what to call this...I would be expecting atleast 1/3 of all CFA candidates I know to report a pass!!! In that case you know failures.. :) Dude!!! I hope you ain't implying am a failure!!!
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Rank: Elder Joined: 7/22/2009 Posts: 7,455
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I have read a bit about this CFA exams and the grading seems very mafia-like. Apparently since 1989, the pass mark has never been been published. The pass mark is set by the "board of governors" after a review of the exam and recommendation by "subject matter experts". And all this is done after candidate have already sat for the exam. Some psychometricians are also thrown into the mix. And they have a name for this approach - The modified Angoff method!! I don't like this approach one bit! Mimi ni mpaka tusikizane pass mark na grading system kabla ya...Visit link below: CFA - Chartered Financial AnalystNever count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Veteran Joined: 7/8/2008 Posts: 947
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extrablessed wrote:Mkimwa wrote:extrablessed wrote:@Drake: Unless I had a seriously biased sample, I dont know what to call this...I would be expecting atleast 1/3 of all CFA candidates I know to report a pass!!! In that case you know failures.. :) Dude!!! I hope you ain't implying am a failure!!! Hadn't you said somewhere else you failed your CFA? Does that make you a failure?
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Rank: New-farer Joined: 3/21/2010 Posts: 24 Location: nairobi
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extrablessed wrote:Not a single Level-3 candidate around made it this time round!!! So sad!
At least level2 had four(4) and level-1 seven(7) candidates who passed!!! Thats means that out of the 600+ candidates that filled all the KICC auditariums on 5th June, only eleven candidates made it....This is less than 2% pass rate, whereas the global pass rate was about 42%.
Whats cooking??? Anyone??? I guess that is why they pay the big bucks for the CFA's . I am no CFA but i expect that just like PRINCE2 (Practitioner) ,PMP or other prof certifications , it is not just about the professional competence of the person that gets tested but also his understanding of those principles of the particular cert. Passing PMP Cert does not make u a good project manager , just proves that u understand the PBOK
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Rank: New-farer Joined: 7/12/2011 Posts: 57 Location: nairobi
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i hear cfa is hard to crack..the one person who passed was paid 40k bonus!
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Rank: New-farer Joined: 3/31/2011 Posts: 49
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I have a friend who passed all the three levels in 3 consequtive sittings, June, Dec June. With the pass rates i'm seeing here then this guy must be a genius.Lakini alifanyia mtihani ng'ambo, I wonder whether this has an effect on the marking.
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Rank: Member Joined: 6/21/2010 Posts: 514 Location: Nairobi
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When guys are still being taught using 19th century material, what would one expect. Just put a CPA & a Bcom grad in an interview room & judge for yourself. 'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
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