Candidate Exam Report
Business Finance Exam
CANDIDATE:
John Smith
YOUR GRADE:
pass
CANDIDATE ID:
123456
YOUR SCALED SCORE:
573
SITE ID:
8675309
PASSING SCALED SCORE:
570
14-May-2013
SCALED SCORE RANGE:
500 – 625
Lowest
possible EXAM DATE:
score for
this exam
500
YOUR SCALED SCORE
Passing Scaled Score
625
Scaled Scores:
•
•
•
•
•
•
•
Highest
It is important to note that your scaled score is not based on an arithmetic or percentage average.
possible
Scales scores do not directly illustrate the number of questions answered correctly in an exam, but score for
represent your level of competence on the scale.
this exam
The above diagram represents your score on a scale of competence.
The passing score reflects the minimum level of competence required to pass the exam.
The minimum level of competence is determined by a committee of subject matter experts and
reflects the standard of knowledge necessary to meet the minimum level of competence required to
become an Associate member of CPA Australia and commence the professional level of the CPA
Program.
Each candidate is measured against the required standard of competence, not against the
performance of other candidates.
To ensure we are testing for a consistent level of competence from year to year we set the passing
scaled score at the same level of difficulty each time the exam is delivered.
Our assessment methodology:
o Each exam has a list of learning objectives, each learning objective is assigned a specific
weighting.
o Learning objectives with a higher weighting will have more questions in the exam and learning
objectives with a lower weighting will have fewer questions in the exam.
o Each exam question is given an equal value. The sum of each question answered correctly is
then converted into your final scaled score.
o Your scaled score is a statistical conversion of item-response theory.
Please note that it is CPA Australia’s policy not to re-mark exams or to provide access to the exams after
exams have been administered. Due to the secure nature of CPA Australia’s exams, the performance
feedback contained within this report is the only feedback that is available to candidates. For more
information about setting the passing mark and scaled scores, please refer to
www.cpaaustralia.com.au/foundationresults
PERFORMANCE FEEDBACK
WEAKER
STRONGER
Investment and project appraisal
c
Capital markets
The Capital Asset Pricing Model
Cost of funds
Efficient market hypothesis
This candidate
performed weaker
against this learning
objective
Long term financing, investment, appraisal and dividend policy
Portfolio management
Short term financial management
Valuation of corporate securities
Risk management and risk assessment
This candidate
performed very
strongly against this
learning objective