Derivatives is only 5% and Alternative Investments is only 3% of the exam weight – meaning that’s about how many questions you should get from each section since each question is “worth” the same. That’s only 8%, so you still have 92% of the exam covered by everything else.
No. Especially if you screw up in a topic like Derivatives and Alternative Investments then it’s not a big problem but if you mess up in FRA, Ethics or Quants then you could have a problem. Anyways bottom line is if you get 70%+ on the exam you’re pretty much safe.