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Exam Feedback January 2021 Part 1 Exam Feedback (postponed 2020 exam)

pbhalava

New Member
Well after reading all your thoughts on this, it looks highly likely that Garp got that question (its options) wrong..Seriously unacceptable. Aint it?
Well, will they ever find that out and actually exclude this question while calculating the marks? Has this ever happened? Any precedents?
 

pbhalava

New Member
There has been a precedent I think. I have read a letter sent by @David Harper CFA FRM to Garp concerning the major issues that the exam has been having over the years where I think he mentions an issue like that. I haven't reread the letter however. So perhaps I'm mistaken.
I think the best way would be to send a mail to garp on that matter.

https://www.bionicturtle.com/forum/...-committee-and-garps-board-of-trustees.22758/
Yeah, agree, need to send a mail to them. Maybe, @David Harper CFA FRM & @Nicole Seaman can help us out here.
 

Nicole Seaman

Director of FRM Operations
Staff member
Subscriber
Yeah, agree, need to send a mail to them. Maybe, @David Harper CFA FRM & @Nicole Seaman can help us out here.
@pbhalava I'm not sure that there is anything that we can do about an incorrect exam question. I only say this because it seems that it would be better if numerous candidates who actually took the exam contacted GARP about this specific question. If someone posts the entire question and answer here, maybe David can confirm the error, but I'm just not sure what we could actually do as a third-party prep provider. We don't have any "pull" with GARP with anything really. David didn't even receive a response about the memo that you posted above. @David Harper CFA FRM may have more input on this though.
 

pbhalava

New Member
@pbhalava I'm not sure that there is anything that we can do about an incorrect exam question. I only say this because it seems that it would be better if numerous candidates who actually took the exam contacted GARP about this specific question. If someone posts the entire question and answer here, maybe David can confirm the error, but I'm just not sure what we could actually do as a third-party prep provider. We don't have any "pull" with GARP with anything really. David didn't even receive a response about the memo that you posted above. @David Harper CFA FRM may have more input on this though.
Ok, thank you for the response. Personally, I will be sending the mail to GARP. I would suggest all the other candidates do it, who felt the question was wrong.
 

ktrathen

Member
Ok, thank you for the response. Personally, I will be sending the mail to GARP. I would suggest all the other candidates do it, who felt the question was wrong.

I have written an email to GARP about this. I do think it's a good idea. You never know, getting this issue corrected might be the difference between passing and failing.
 

Paras Chhabra

New Member
Subscriber
I wrote an email to them a week back and frankly, am not expecting a reply. But i feel really strongly abt it. I mean, wasting time on a question which is probably incorrect, is criminal. It does hamper the performance on other questions as well
 

ktrathen

Member
I wrote an email to them a week back and frankly, am not expecting a reply. But i feel really strongly abt it. I mean, wasting time on a question which is probably incorrect, is criminal. It does hamper the performance on other questions as well

It's certainly not optimal. I left the question until last after realising it made no sense.
 
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Mocha12

New Member
I wrote an email to them a week back and frankly, am not expecting a reply. But i feel really strongly abt it. I mean, wasting time on a question which is probably incorrect, is criminal. It does hamper the performance on other questions as well
I spent so much time on that question because on the face of it , it was such a easy one! I felt so stupid thinking that I was fudging up a simple Bayes'.
 

David Harper CFA FRM

David Harper CFA FRM
Staff member
Subscriber
About this Bayes Question, more than one person has contacted me privately. I'm told the question is something like the following (I'm not sure about the exact text, but let's focus only on the numeric assumptions):
The bank knows 75.0% of its customers pay their credit card bill on time while 8.5% default on their mortgage loan. The probability of a customer paying [their credit card bill] on time given he has defaulted [on his mortgage loan] is 10.2%. What is the probability that a new client defaults [or has defaulted on his mortgage loan] given he pays [his credit card] bills on time?
If that's the question, setting aside some potential awkwardness in the language, it is no wonder people are telling me their answer was 1.x% (but there was no 1.x% choice) because the solution is straightforward:

P(Default | PaysOnTime) = P(Default ∩ PaysOnTime) / P(PaysOnTime) = P(Default) * P(PaysOnTime | Default) / P(PaysOnTime)
= 8.5% * 10.2% / 75.0% = 1.156%.
 
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ktrathen

Member
About this Bayes Question, more than one person has contacted me privately. I'm told the question is something like the following (I'm not sure about the exact text, but let's focus only on the numeric assumptions):

If that's the question, setting aside some potential awkwardness in the language, it is no wonder people are telling me their answer was 1.x% (but there was no 1.x% choice) because the solution is straightforward:

P(Default | PaysOnTime) = P(Default ∩ PaysOnTime) / P(PaysOnTime) = P(Default) * P(PaysOnTime | Default) / P(PaysOnTime)
= 8.5% * 10.2% / 75.0% = 1.156%.

Agreed. That's what I got. The only answer less than 8.5% was 3%, so I went with that and moved on.
 

CA Sagar

New Member
Any idea when will results come? I am checking since morning but it still shows "1st March". Last time it was out at 10.30am IST.
 

CA Sagar

New Member
Just because of time zones. As of now, it will be around 4am in the morning at New York and in India its 2pm afternoon. Guess we would get our results by night 9pm.
 

Miles77

New Member
Just because of time zones. As of now, it will be around 4am in the morning at New York and in India its 2pm afternoon. Guess we would get our results by night 9pm.
Not sure if it's related with time zone. Last time (Nov exam) the result was eleased at 0am new york time.
 
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