LE Paper 1 in May 2006
The pass rate of LE Paper 1 held
on 27 May 2006 was 71%, the highest pass rate to date.
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 - May 2006 Figure 2. Topical
correctness for LE Paper 1 - May 2006
Table 1 below
shows a comparison of the topical correctness rates of
each topic of LE Paper 1 from January to May 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 |
|
Apr-06 |
0.71 |
0.76 |
0.80 |
0.71 |
0.69 |
0.68 |
0.70 |
0.71 |
0.66 |
|
May-06 |
0.80 |
0.73 |
0.71 |
0.72 |
0.82 |
0.83 |
0.65 |
0.58 |
0.81 |
|
Average |
0.68 |
0.75 |
0.70 |
0.71 |
0.71 |
0.73 |
0.58 |
0.66 |
0.74 |
|
Table 1. Topical correctness rates for LE Paper 1:
Jan - May 2006 |
The overall performance of candidates in the May 2006
LE Paper 1 examination shows considerable improvement
when compared with the previous month, particularly in
Topic 5 (Business Conduct and Client Relations), Topic 6
(Business Operations and Practices) and Topic 9 (Market
Misconduct, Improper Trading Practices and Compliance).
Only the correctness rate of Topic 8 (Other SFC
Regulated Activities) shows a marked decline.
Despite this
strong performance in the May 2006 examination, as shown
in Table 2 below, our analysis indicates that one
subject area in each of Topics 4 and 8 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 |
Special requirements by the SFC under the FRR |
4 |
2 |
|
2 |
Leveraged foreign exchange trading |
8 |
5 |
|
Table 2. Unsatisfactory subject areas for LE Paper
1-¡V May 2006 |
LE Paper 2 in May 2006
The pass rate of LE Paper 2
held on 27 May 2006 was 34%. 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 - May 2006 Figure 4. Topical
correctness for LE Paper 2 - May 2006
Table 3
below shows a comparison of the topical correctness
rates of each topic of LE Paper 2 from January to May
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 |
|
Apr-06 |
0.68 |
0.71 |
0.85 |
0.64 |
0.57 |
0.68 |
0.75 |
|
May-06 |
0.62 |
0.64 |
0.75 |
0.73 |
0.51 |
0.71 |
0.51 |
|
Average |
0.57 |
0.65 |
0.76 |
0.69 |
0.58 |
0.68 |
0.63 |
|
Table 3. Topical correctness rates for LE Paper 2:
Jan ¡V May 2006 |
With the exception of Topic 3 (Management and
Supervision of Securities Businesses) and Topic 7
(Market Misconduct and Offences) in which the
correctness rates dropped sharply, candidates'
performance in the 7 topics of LE Paper 2 remains fairly
consistent when compared with the previous month.
However, our analysis also shows that candidates'
performance in the two subject areas of Topic 5 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 |
Requirements for securities margin financing
activities |
5 |
2 |
|
2 |
Requirements relating to stock borrowing and lending |
5 |
4 |
|
Table 4. Unsatisfactory subject areas for LE Paper 2
- May 2006 |
Candidates are particularly advised to revise carefully
subject area 1, "Requirements for securities margin
financing activities", in which candidates also
performed unsatisfactorily in the previous month's
examination.
LE Paper 6 in May 2006
The pass rate of LE Paper 6
held on 20 May 2006 was 40%. 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 -
May 2006
Figure 6. Topical correctness for LE Paper 6 - May 2006
Table 5
below shows a comparison of the topical correctness
rates of each topic of LE Paper 6 from January to May
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 |
|
Apr-06 |
0.69 |
0.70 |
0.55 |
0.57 |
0.58 |
0.61 |
|
May-06 |
0.56 |
0.72 |
0.57 |
0.65 |
0.64 |
0.79 |
|
Average |
0.62 |
0.70 |
0.56 |
0.60 |
|
