The pass rate for Paper 1 held on 26 Sep 2004 was
61%, which is the highest to date. Figure 1 shows the
distribution by scores of the exam results.
Figure 1. Exam results distribution for Paper 1 - Sep
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 - Sep 2004
The performance of candidates this month shows
improvement in the majority of topics, most noticeably
Topic 6 (Business Operations and Practices).
2. Well Performed and Poorly Performed Subjects
Our analysis indicates that candidates performed very
well in a number of subject areas:
• General
principles described in the Code of Conduct;
• Key areas highlighted in the
Internal Control Guidelines; and
• Money laundering.
Candidates have shown improvement in answering
questions relating to Market Misconduct under the SFO
and Investor Compensation Arrangements. However,
there are still a few subject areas in which candidates
are performing less satisfactorily, particularly areas
relating to the different types of exchange participants
and the corresponding activities carried out by those
participants on the exchanges in Hong Kong.
Candidates wishing to revise for these subject areas
should focus on Topic 7 in the Study Manual for Paper 1.
Examination Centres
The HKSI is aware that a number of candidates have
recently attended the wrong examination centres on the
date of their examinations. Candidates should note
that the Paper 1 examination is often held
simultaneously in several different examination centres
on any given examination date. The address of the
relevant examination centre is contained in the
Admission Form, which is sent to all candidates at least
5 days prior to their examinations. Candidates are
advised to check the information contained in their
Admission Forms carefully before attending their
examinations. Candidates who are re-taking their
examinations should not necessarily assume that they
should attend the same examination centre as previously.
If candidates have not received their Admission Forms
3 days prior to their examinations, they are advised to
contact the HKSI directly and, if appropriate, may
collect their Admission Forms at the HKSI office at
least one day before the examination.
Updates to Paper 1
The HKSI posted the latest updates of the Study
Manual for Paper 1 on its website in October 2004.
Candidates are advised to visit the HKSI website
regularly to ensure that they have the latest updates
prior to taking their examinations.
