The pass rate for Paper 1 held on 28 Aug 2004 was
48%, maintaining the improving trend of recent months.
Figure 1 shows the distribution by scores of the exam
results.
Figure 1. Exam results distribution for Paper 1 - Aug
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 - Aug 2004
With the exception of Topic 4 (Licensing and
Subsidiary Legislation) and Topic 6 (Business Operations
and Practices), which show a decline in their
correctness rates from the previous month, the
performance of candidates in all other topics remains
consistent.
2. Well Performed and Poorly Performed Subjects
Our analysis indicates that candidates performed well
in a number of subject areas:
• Functions of
financial regulators;
• Soft Dollars provisions in the Code
of Conduct; and
• Responsibilities of Senior
Management.
Candidates have also shown improvement in answering
questions relating to the Fund Manager Code of Conduct
and Market Misconduct under the SFO. However, candidates
are performing less well in the subject areas relating
to the Securities and Futures (Client Money) Rules and
Business Operations and Practices (see 1 above).
Candidates wishing to revise for these subject areas
should refer to section 4 of Topic 4 and to Topic 6 in
the Study Manual for Paper 1.
Release of exam scores and performance analyses
online
To improve the transparency of the LE and to provide
candidates with more information about their individual
performance in each of their examinations, LE candidates
can now access both their actual examination scores and
individual performance analyses online, beginning with
the LE examinations held in September 2004. Both
examination scores and performance analyses (which
provide a breakdown of a candidate's performance in each
topic of the examination) will be available on the HKSI
website approximately 9 full working days after the date
of each examination.
Due to the frequency of the LE, this information will
only be displayed for a limited period. New examination
scores and performance analyses will be uploaded
following each examination and the previous results will
be deleted. However, candidates will also receive their
examination score(s) in their Notification(s) of
Results, which are sent out by post within 14 full
working days after the date of each examination. An
official hard copy of the performance analysis, for LE
examinations held in or after September 2004, will be
available to LE candidates upon request, subject to a
handling fee charged by the HKSI for each analysis per
examination paper.
Candidates are reminded that if they wish to utilise
this new online function to check their examination
results, they will need to provide their date of birth
when completing their enrolment forms. "Date of Birth"
is one of the three security entries required to gain
access to the online examination results system. In
addition, candidates are advised to safeguard their
Admission Form(s) which contain their candidate number(s)
since these are also required to login to the online
results system.
The HKSI believes that this new initiative will
assist LE candidates, particularly those intending to
re-enrol for their examination(s), to analyse and
evaluate their performance in a timely manner and to
design effective methods of revision for future
examinations.
