Hi, Does anyone know what the CA1 pass mark range is? I'm doing some papers under exam conditons, just want to know whether to panic.
It varies between exam periods. The Institiute get some qualified people to actually sit the exam and set a standardised pass rate based on their performance, but it just so happens that around 40% of students who sit it pass every year anyway which is an extraordinary coincidental consistency year on year, so I'm a little sceptical about how the pass rate is set in reality. I think the border line pass rate is around 50 to 55 percent, but I wouldn't read too much into the pass rates, just keep practicing! In reality, your exam will be marked by somebody half asleep watching TV while their doing it, so there is likely to be a big variation between the two markers (and the third marker if you're borderline). It would be helpful if the Institute actually published the pass grade for each paper and published the three grades given by the markers with your results to give students not only an opportunity to prepare properly for the exam but also an opportunity to see how their papers were marked afterwards. At the moment if you want to appeal your grade you have to decide even before the examiners reports are published so the decision to appeal must be completely blind and on little or no foundation. Also the appeal is not independent, so to uphold an appeal there is a conflict that the Institute would have to admit to themselves that they made a mistake. I suspect that they know of a large variation between the markers grades and it would be opening a can of worms to disclose this information and provide students with ample opportunity to view how their paper was marked before appealing.
How many more posts will there be on this topic across all subjects!!! Basically, its a race. All anyone should be focussing on is doing their very best with any paper. Actuaries tend to be perfectionists - life's not like that. So figure out what type of qns YOU don't like, practise lots of them so you get a reasonable grasp across the piste - never so Oh that'll never come up.... Numbers in practise don't matter - You are learning so get teh focus away from marks and onto weak areas. Its a harsh message but I think its best advice. There may be odd times when even say 60% and you won't pass so.......
