The pass rate for Paper 1 held on 29 May 2004 was
34.8%. Figure 1 shows the distribution of the exam
results.
Figure 1. Exam results distribution for Paper 1 ¡V May
2004
Highlights of the Month
1. Topical Correctness
Figure 2 shows the overall topical correctness
achieved in the examination, i.e. how well candidates
have performed in each topic.
The score system of topical correctness provides a
performance score for each topic,
ranging from 0 to 1. When all questions relating to the same
topic are answered correctly
by all candidates, the topical correctness score will be 1.
Conversely, if all questions
relating to the same topic are answered incorrectly by all
candidates, the topical
correctness score will be 0.
Figure 2. Topical correctness for Paper 1 - May 2004
The May 2004 exam results show some improvement in
Topic 9 while the performance of candidates in most
other topics remains fairly consistent. However, Topic 7
(Securities, Options and Futures) shows a decline in its
correctness rate from the previous 2 months and
continues to be the weakest topic among the nine topics
in the Study Manual for Paper 1. Candidates are advised
to spend more time revising subjects relating to Topic 7
(see 3 below).
2. Correctness Rates of Individual Questions
The correctness rate of an individual question means
the percentage of candidates answering that particular
question correctly. Figure 3 shows the correctness rates
of the questions in the May exam: only 1 question out of
60 recorded a correctness rate of below 30% while 13
questions in the May exam recorded correctness rates of
over 80%.
Figure 3. Correctness rates of
individual questions
3. Well Performed and Poorly Performed Subjects
Our analysis indicates that candidates performed well
in a number of subject areas:
• General
licensing matters;
• Fundamental concepts of the Internal Control
Guidelines; and
• General principles of the Personal
Data (Privacy) Ordinance.
However, it also shows that candidates are still
performing unsatisfactorily in the subject areas
relating to:
• Internal audit;
• Knowledge of exclusions from
regulated activities;
• Fund Manager Code of Conduct;
• Securities and Futures (Keeping of
Records) Rules; and
• Requirements of participants in the
Hong Kong exchanges.
Candidates may refer to the following
paragraphs/sections in the Study Manual for Paper 1
regarding the above-mentioned subject areas:
• Paragraph 1.8 of
Topic 4;
• Sections 3 and 5 of Topic 5;
• Paragraphs 2.16 and 2.17 of Topic
6;and
• Sections 2 and 4 of Topic 7
4. Enrolment Forms
Candidates are advised to complete their Enrolment
Forms carefully. Failure to provide complete
information, for example as to company name and/or
correspondence address, may result in important
documents which are sent to candidates by post, such as
Admission Forms or Notifications of Results, arriving
late or not at all. Admission Forms, in particular, are
required to gain access to the examinations.
Proof of identity is equally important to gain access
to the examinations. Candidates should be aware that
they will be required to present exactly the same
identification as they have listed in their Enrolment
Forms. Other forms of identification, although valid,
will not be accepted for this purpose.
Revision Tools for LE
Since December 2003, the HKSI has been developing a
series of revision tools designed to assist candidates
preparing to take the LE, including:
1.
Guidelines for Examination Preparation
2.
Online Workshop: How to prepare for the LE
3.
Online Workshop: LE Paper 1
4.
Sample questions booklets (Paper 1 and Paper 7)
5.
Examination Results Statistics
These revision tools can be found under "Revision
Tools for LE" on our website at
http://www.hksi.org/eng/exam/le_prep.html.
