LE Paper 1 in Jul 2006
The pass rate of LE Paper 1 held
on 29 July 2006 was 47%, a sharp decline when compared
to the exam results of the previous 3 months. 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 - Jul 2006 Figure 2. Topical
correctness for LE Paper 1 - Jul 2006
Table 1 below
shows a comparison of the topical correctness rates of
each topic of LE Paper 1 from January to July 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 |
|
Jul-06 |
0.73 |
0.73 |
0.66 |
0.59 |
0.75 |
0.78 |
0.60 |
0.58 |
0.70 |
|
Average |
0.71 |
0.75 |
0.70 |
0.70 |
0.72 |
0.76 |
0.58 |
0.65 |
0.73 |
|
Table 1. Topical correctness rates for LE Paper 1:
Jan - Jul 2006 |
When compared to the previous month, candidates'
performance has been generally less consistent with
noticeable declines in the correctness rates of 5 out of
the 9 topics of LE Paper 1, particularly Topic 1
(Regulatory Overview of the Hong Kong Financial
Industry), Topic 4 (Licensing and Subsidiary
Legislation) and Topic 6 (Business Operations and
Practices).
In addition,
our analysis shows that candidates' performance in one
subject area of each of Topics 1, 4, 7 and 8 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 |
Functions of the SFC¡¦s operational divisions |
1 |
3 |
|
2 |
Exclusions from regulated activities |
4 |
1 |
|
3 |
Clearing and settlement services on the SEHK |
7 |
2 |
|
4 |
Disciplinary procedures under the Listing Rules |
8 |
2 |
|
Table 2. Unsatisfactory subject areas for LE Paper 1
- Jul 2006 |
LE Paper 2 in Jul 2006
The pass rate of LE Paper 2
held on 29 July 2006 was 55%. 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 - Jul 2006 Figure 4. Topical
correctness for LE Paper 2 - Jul 2006
Table 3
below shows a comparison of the topical correctness
rates of each topic of LE Paper 2 from January to July
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 |
|
Jul-06 |
0.54 |
0.73 |
0.83 |
0.68 |
0.68 |
0.62 |
0.82 |
|
Average |
0.58 |
0.67 |
0.77 |
0.70 |
0.59 |
0.67 |
0.64 |
|
Table 3. Topical correctness rates for LE Paper 2:
Jan - Jul 2006 |
The overall performance of candidates in the July LE
Paper 2 examination remains generally consistent when
compared with the previous month. Most notably, the
correctness rates of Topic 5 (Other Securities
Activities) and particularly of Topic 7 (Market
Misconduct and Offences) show strong improvement.
As shown in Table 4 below, our analysis shows that
one subject area in each of Topics 1, 5 and 6 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 |
Licensing regime |
1 |
6 and 7 |
|
2 |
Requirements relating to stock borrowing and lending |
5 |
4 |
|
3 |
Risk reduction techniques on OTC business |
6 |
7 |
|
Table 4. Unsatisfactory subject areas for LE Paper 2
- Jul 2006 |
Candidates are particularly advised to revise carefully
subject area 2, "Requirements relating to stock
borrowing and lending", in which candidates also
performed unsatisfactorily in the previous two months¡¦
examinations.
LE Paper 6 in Jul 2006
The pass rate of LE Paper 6
held on 22 July 2006 was 25%. 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 -
Jul 2006
Figure 6. Topical correctness for LE Paper 6 - Jul 2006
Table 5
below shows a comparison of the topical correctness
rates of each topic of LE Paper 6 from January to July
2006.
