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DISASTER FOR CFA LEVEL-III
extrablessed
#1 Posted : Friday, August 20, 2010 11:27:32 AM
Rank: Member


Joined: 7/28/2007
Posts: 290
Location: Nairobi
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???
MaichBlack
#2 Posted : Friday, August 20, 2010 12:16:14 PM
Rank: Elder


Joined: 7/22/2009
Posts: 7,340
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.
kadonye
#3 Posted : Friday, August 20, 2010 12:33:46 PM
Rank: Elder


Joined: 5/30/2009
Posts: 1,390
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
Intelligentsia
#4 Posted : Friday, August 20, 2010 12:44:08 PM
Rank: Elder


Joined: 10/1/2009
Posts: 2,434
@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
drake
#5 Posted : Friday, August 20, 2010 12:44:52 PM
Rank: Member


Joined: 8/8/2009
Posts: 170
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

MaichBlack
#6 Posted : Friday, August 20, 2010 12:50:20 PM
Rank: Elder


Joined: 7/22/2009
Posts: 7,340
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.
Wa_ithaka
#7 Posted : Friday, August 20, 2010 12:56:01 PM
Rank: Veteran


Joined: 1/7/2010
Posts: 1,279
Location: nbi
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
kadonye
#8 Posted : Friday, August 20, 2010 1:00:36 PM
Rank: Elder


Joined: 5/30/2009
Posts: 1,390
drake wrote:
[b]

CFA > MBA



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
kadonye
#9 Posted : Friday, August 20, 2010 1:04:33 PM
Rank: Elder


Joined: 5/30/2009
Posts: 1,390
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
extrablessed
#10 Posted : Friday, August 20, 2010 1:19:21 PM
Rank: Member


Joined: 7/28/2007
Posts: 290
Location: Nairobi
@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.....
drake
#11 Posted : Friday, August 20, 2010 1:32:57 PM
Rank: Member


Joined: 8/8/2009
Posts: 170
@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.
extrablessed
#12 Posted : Friday, August 20, 2010 1:41:11 PM
Rank: Member


Joined: 7/28/2007
Posts: 290
Location: Nairobi
@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!!!
Mkimwa
#13 Posted : Friday, August 20, 2010 2:04:30 PM
Rank: Member


Joined: 10/26/2008
Posts: 379
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.. :)

extrablessed
#14 Posted : Friday, August 20, 2010 2:53:34 PM
Rank: Member


Joined: 7/28/2007
Posts: 290
Location: Nairobi
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!!!
MaichBlack
#15 Posted : Friday, August 20, 2010 3:30:47 PM
Rank: Elder


Joined: 7/22/2009
Posts: 7,340
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 Analyst
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
tony stark
#16 Posted : Saturday, August 21, 2010 9:58:11 PM
Rank: Veteran


Joined: 7/8/2008
Posts: 888
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?
samwank
#17 Posted : Monday, August 23, 2010 4:50:44 PM
Rank: New-farer


Joined: 3/21/2010
Posts: 24
Location: nairobi
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
jano
#18 Posted : Tuesday, September 06, 2011 2:27:12 PM
Rank: New-farer


Joined: 7/12/2011
Posts: 57
Location: nairobi
i hear cfa is hard to crack..the one person who passed was paid 40k bonus!
rryz
#19 Posted : Wednesday, September 14, 2011 7:41:42 AM
Rank: New-farer


Joined: 3/31/2011
Posts: 49
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.
erifloss
#20 Posted : Wednesday, September 14, 2011 7:57:07 AM
Rank: Member


Joined: 6/21/2010
Posts: 514
Location: Nairobi
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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