Hi guys. I just wanted to know if there’s any thing such as partial marks in the essay section of the Level 3 exam. For example if the question is worth 1 mark and you need to name an appropriate method and explain it and you can only name but not explain. Would you get like half a mark in such a situation or would you get 0?
Marks are allocated based on the completeness (and accuracy, of course) of the answers given. Remember that it’s all about answering the question, so if they ask you for 1 example of something that there are 3 or 4 answers to, providing any one of these possible solutions should get you full marks (subject to accuracy/completeness).
That’s my understanding of it anyway. Further discussion of the processes employed by the CFAI can be found on their website and in their white papers.
Personally I think there is probably more chance of getting full marks for unambiguous questions, such as those requiring a specific calculation or asking for something to be “identified”. Looking over past years’ exams, some of the other types of questions seem to have a level of ambiguity that can be challenging…. Good luck
@RoyD If you haven’t already, please check out this video posted by @PaulAdaptPrep, which addresses the topic of partial marks as part of an essential presentation on how to approach the Level 3 AM session.