LE Paper 1 in Jun 2006
The pass rate of LE Paper 1 held
on 24 June 2006 was 71%. 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 - Jun 2006 Figure 2. Topical
correctness for LE Paper 1 - Jun 2006
Table 1 below
shows a comparison of the topical correctness rates of
each topic of LE Paper 1 from January to June 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 |
|
Jun-06 |
0.86 |
0.73 |
0.74 |
0.75 |
0.76 |
0.88 |
0.60 |
0.65 |
0.69 |
|
Average |
0.71 |
0.75 |
0.71 |
0.72 |
0.72 |
0.76 |
0.58 |
0.66 |
0.73 |
|
Table 1. Topical correctness rates for LE Paper 1:
Jan - Jun 2006 |
The overall performance of candidates in the June
2006 LE Paper 1 examination remains strong, particularly
in Topic 1 (Regulatory Overview of the Hong Kong
Financial Industry) and Topic 6 (Business Operations and
Practices). The only exception was Topic 9 (Market
Misconduct, Improper Trading Practices and Compliance)
in which the correctness rate declined considerably.
Despite the
continued strong performance of candidates in the June
2006 examination, as shown in Table 2 below, our
analysis indicates that one subject area in each of
Topics 3, 5 and 7 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 |
Disclosure of interests under the SFO |
3 |
15 |
|
2 |
The applications of CFA Code and SR Code |
5 |
4 and 5 |
|
3 |
Operational rules applicable to the HKFE |
7 |
4 |
|
Table 2. Unsatisfactory subject areas for LE Paper 1
- Jun 2006 |
LE Paper 2 in Jun 2006
The pass rate of LE Paper 2
held on 24 June 2006 was 43%. 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 - Jun 2006 Figure 4. Topical
correctness for LE Paper 2 - Jun 2006
Table 3
below shows a comparison of the topical correctness
rates of each topic of LE Paper 2 from January to June
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 |
|
Jun-06 |
0.63 |
0.68 |
0.77 |
0.73 |
0.57 |
0.65 |
0.52 |
|
Average |
0.58 |
0.66 |
0.76 |
0.70 |
0.58 |
0.68 |
0.61 |
|
Table 3. Topical correctness rates for LE Paper 2:
Jan - Jun 2006 |
Candidates' performance in the seven topics of LE
Paper 2 remains consistent when compared with the
previous month. Nevertheless, our analysis shows that
there are three subject areas in Topics 5 and 7 in which
candidates performed unsatisfactorily. Table 4 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 |
Requirements relating to stock borrowing and lending |
5 |
4 |
|
2 |
Automated trading services |
5 |
7 |
|
3 |
False trading |
7 |
2 |
|
Table 4. Unsatisfactory subject areas for LE Paper 2
- Jun 2006 |
Candidates are particularly advised to revise carefully
subject area 1, "Requirements relating to stock
borrowing and lending", in which candidates also
performed unsatisfactorily in the previous month's
examination.
LE Paper 6 in Jun 2006
The pass rate of LE Paper 6
held on 17 June 2006 was 37%. 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 -
Jun 2006
Figure 6. Topical correctness for LE Paper 6 - Jun 2006
Table 5
below shows a comparison of the topical correctness
rates of each topic of LE Paper 6 from January to June
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 |
