LE Paper 1 in Mar 2006
The pass rate of LE Paper 1 held
on 25 Mar 2006 was 45%. Figures 1 and 2 show the
distribution by scores of the exam results and the
overall topical correctness¹ achieved in the
examination.
Figure 1. Exam results distribution for LE Paper
1 - Mar 2006 Figure 2. Topical
correctness for LE Paper 1 - Mar 2006
Table 1 below
shows a comparison of the topical correctness rates of
each topic of LE Paper 1 in the first three months of
2006.
|
|
Topic |
|
Month |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
|
Jan-06 |
0.65 |
0.82 |
0.72 |
0.62 |
0.68 |
0.64 |
0.49 |
0.61 |
0.77 |
|
Feb-06 |
0.67 |
0.72 |
0.62 |
0.74 |
0.72 |
0.69 |
0.54 |
0.72 |
0.76 |
|
Mar-06 |
0.58 |
0.73 |
0.64 |
0.76 |
0.67 |
0.80 |
0.50 |
0.69 |
0.69 |
|
Average |
0.63 |
0.76 |
0.66 |
0.71 |
0.69 |
0.71 |
0.51 |
0.67 |
0.74 |
|
Table 1. Topical correctness rates for LE Paper 1:
Jan - Mar 2006 |
Candidates' performance across most of the 9 topics
of LE Paper 1 remains consistent when compared with the
previous month, although the correctness rate of Topic 6
(Business Operations and Practices) shows a noticeable
improvement. Candidates¡¦ performance in Topic 7
(Securities, Options and Futures) remains the weakest
among the 9 topics of LE Paper 1 in the 2006
examinations.
Our analysis
shows that candidates' performance in one subject area
each of Topics 1, 3 and 7, as listed in Table 2 below,
was particularly weak and indicates the topics/sections
in the Study Manual which candidates should read when
revising for these subject areas.
Unsatisfactory subject areas
|
Recommended topics/sections |
Topic
|
Section |
|
1 |
Roles of the committees and operational divisions of
the SFC |
1 |
3 |
|
2 |
The licensing regime and certain exemptions |
3 |
6 |
|
3 |
Participants of the exchanges and clearing houses |
7 |
2 and 4 |
|
Table 2. Unsatisfactory subject areas for LE Paper 1
- Mar 2006 |
LE Paper 2 in Mar 2006
The pass rate of LE Paper 2
held on 25 Mar 2006 was 36%. Figures 3 and 4 show the
distribution by scores of the exam results and the
overall topical correctness achieved in the examination.
Figure 3. Exam
results distribution for LE Paper 2 - Mar 2006 Figure 4. Topical
correctness for LE Paper 2 - Mar 2006
Table 3
below shows a comparison of the topical correctness
rates of each topic of LE Paper 2 in the first three
months of 2006.
|
|
Topic |
|
Month |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
|
Jan-06 |
0.60 |
0.63 |
0.80 |
0.64 |
0.63 |
0.70 |
0.48 |
|
Feb-06 |
0.45 |
0.62 |
0.75 |
0.72 |
0.53 |
0.74 |
0.65 |
|
Mar-06 |
0.54 |
0.67 |
0.65 |
0.72 |
0.66 |
0.59 |
0.74 |
|
Average |
0.53 |
0.64 |
0.73 |
0.69 |
0.61 |
0.67 |
0.62 |
|
Table 3. Topical correctness rates for LE Paper 2:
Jan - Mar 2006 |
When compared with the correctness rates of the
previous month, candidates' performance in Topic 5
(Other Securities Activities) shows a considerable
improvement while candidates' performance in Topic 6
(Options and OTC Derivatives) shows a marked decline. In
addition, although candidates' performance in Topic 1
(Regulatory Framework) has improved this month, it
remains the weakest topic among the 7 topics of LE Paper
2.
Our analysis shows that candidates' performance in
three subject areas of Topics 1 and 3 listed in Table 4
below was particularly weak and indicates the
topics/sections in the Study Manual which candidates
should read when revising for these subject areas.
Unsatisfactory subject areas
|
Recommended topics/sections |
Topic
|
Section |
|
1 |
Functions and powers of the SFC and its committees,
tribunals and panels |
1 |
4 |
|
2 |
Licensing Regime |
1 |
6 and 7 |
|
3 |
Professional investors |
3 |
2 |
|
Table 4. Unsatisfactory subject areas for LE Paper 2
- Mar 2006 |
Candidates are particularly advised to revise carefully
subject area 1, "Functions and powers of the SFC and its
committees, tribunals and panels", in which candidates
also performed unsatisfactorily in the previous month's
examination.
LE Paper 6 in Mar 2006
The pass rate of LE Paper 6
held on 18 Mar 2006 was 30%. Figures 5 and 6 show the
distribution by scores of the exam results and the
overall topical correctness achieved in the examination.
Figure 5. Exam results distribution for LE Paper 6 -
Mar 2006
Figure 6. Topical correctness for LE Paper 6 - Mar 2006
Table 5
below shows a comparison of the topical correctness
rates of each topic of LE Paper 6 in the first three
months of 2006.
|
|
Topic |
|
Month |
1 |
2 |
3 |
4 |
5 |
6 |
|
Jan-06 |
0.65 |
0.68 |
0.52 |
0.55 |
0.48 |
0.75 |
|
Feb-06 |
0.56 |
0.72 |
0.60 |
0.60 |
0.66 |
0.66 |
|
Mar-06 |
0.65 |
0.66 |
0.55 |
0.63 |
0.68 |
0.65 |
|
Average |
0.62 |
0.69 |
0.56 |
0.59 |
0.60 |
0.68 |
|
Table 5. Topical correctness rates for LE Paper 6:
Jan - Mar 2006 |
Candidates' performance in the 6 topics of LE Paper 6
remains consistent when compared with the previous
month. Nevertheless, our analysis shows that there are
three subject areas in Topics 3 and 4 in which
candidates performed unsatisfactorily. Table 6 lists
these subject areas and indicates the topics/sections in
the Study Manual which candidates should read when
revising for them.
Unsatisfactory subject areas
|
Recommended topics/sections |
Topic
|
Section |
|
1 |
The Guidelines on Competence |
3 |
2 |
|
2 |
Compliance issues under the Code of Conduct |
4 |
3 |
|
3 |
Code of practice applicable to MPF intermediaries |
4 |
5 |
|
Table 6. Unsatisfactory subject areas for LE Paper 6
- Mar 2006 |
¹
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.
