LE Paper 1 in Oct 2006
The pass rate of LE
Paper 1 held on 28 Oct 2006 was 64%. 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 - Oct 2006
Figure 2. Topical correctness for LE Paper 1 - Oct 2006
Table 1 below
shows a comparison of the topical correctness rates of
each topic of LE Paper 1 from January to October 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 |
|
Aug-06 |
0.64 |
0.67 |
0.66 |
0.68 |
0.68 |
0.67 |
0.58 |
0.80 |
0.63 |
|
Sept-06 |
0.67 |
0.72 |
0.73 |
0.75 |
0.68 |
0.85 |
0.58 |
0.63 |
0.72 |
|
Oct-06 |
0.78 |
0.71 |
0.77 |
0.78 |
0.78 |
0.75 |
0.56 |
0.74 |
0.59 |
|
Average |
0.71 |
0.73 |
0.71 |
0.71 |
0.72 |
0.76 |
0.58 |
0.67 |
0.70 |
|
Table 1.
Topical correctness rates for LE Paper 1: Jan - Oct
2006 |
Candidates of the October examination performed well
in most of the nine topics of LE Paper 1. When compared
to the previous month, there were marked improvements in
the correctness rates of Topic 1 (Regulatory Overview of
the Hong Kong Financial Industry), Topic 5 (Business
Conduct and Client Relations) and Topic 8 (Other SFC
Regulated Activities). However, the correctness rates of
Topic 6 (Business Operations and Practices) and Topic 9
(Market Misconduct, Improper Trading Practices and
Compliance) dropped sharply, with the correctness rate
of Topic 9, in particular, declining to a record low of
59 per cent. Candidates' performance in Topic 7
(Securities, Options and Futures) continues to be the
weakest amongst the nine topics of LE Paper 1.
Our analysis
shows that three subject areas in Topics 7 and 9 listed
in Table 2 below were 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 |
Definition of securities |
7 |
2 |
|
2 |
Participants of the exchanges and clearing houses |
|
3 |
Market
Misconduct Tribunal |
9 |
1 |
|
Table 2. Unsatisfactory subject areas for LE Paper 1
- Oct 2006 |
LE Paper 2 in Oct 2006
The pass rate of
LE Paper 2 held on 28 Oct 2006 was 48%. 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 - Oct
2006
Figure 4. Topical correctness for LE Paper 2 - Oct 2006
Table 3
below shows a comparison of the topical correctness
rates of each topic of LE Paper 2 from January to
October 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 |
|
Aug-06 |
0.44 |
0.61 |
0.71 |
0.70 |
0.61 |
0.61 |
0.36 |
|
Sept-06 |
0.56 |
0.63 |
0.77 |
0.79 |
0.70 |
0.65 |
0.53 |
|
Oct-06 |
0.64 |
0.67 |
0.80 |
0.65 |
0.55 |
0.70 |
0.77 |
|
Average |
0.57 |
0.66 |
0.77 |
0.70 |
0.60 |
0.66 |
0.61 |
|
Table 3.
Topical correctness rates for LE Paper 2: Jan - Oct
2006 |
Although candidates' performance in Topic 7 (Market
