The pass rate for Paper 1 held on 23 Oct 2004 was
51%. Figure 1 shows the distribution by scores of the
exam results.
Figure 1. Exam results distribution for Paper 1 - Oct
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 - Oct 2004
With the exception of Topics 1 and 2, the correctness
scores this month show a slight decline in the
performance of candidates in all other topics. However,
in general, the performance of candidates across all
topics remains consistent.
2. Well Performed and Poorly Performed Subjects
Our analysis indicates that candidates performed very
well in a number of subject areas:
• Understanding of
good operational controls and practices;
• Functions of financial regulators;
and
• Money laundering.
Candidates have also shown some improvement in
answering individual questions relating to Topic 7,
historically the weakest among the 9 topics in Paper 1
in terms of candidates' performance.
On the other hand, candidates have not performed so
well in the subject areas relating to definitions of
regulated activities, the Fund Manager Code of Conduct
and trading and settlement processes of the Hong Kong
Futures Exchange. Candidates are advised to carefully
read section 1.8 of Topic 4, sections 3.1 to 3.3 of
Topic 5 and sections 4.14 to 4.24 of Topic 7 in the
Study Manual for Paper 1 when revising for these subject
areas.
