It’s one of the most searched queries right now on the web and I don’t think we need to analyze very much to know that anyone looking for info about passing the CFA exam by luck is in a bad situation.
Yes it’s possible. Of course, any exam that is based on multiple choices is bound to have some element of luck and the CFA is no exception. Due to that fact, yes, I agree that passing based on luck alone is very much possible.
Is It Likely?
The odds of course are very slim that someone with very little preparation could pull it off. Think about it…The more questions there are in the exam, the more difficult it becomes to pass an exam based only on luck. If you had 10 or 20 questions, luck would probably be a large part of your success odds. With over 200 questions, the odds that someone would guess right on enough questions to make a difference are slim to none.
Luck Does Matter Of Course
It’s to easy to discuss luck however and it’s probably not warranted either. Since very few candidates “ace” the exam, it’s safe to say that a large portion of candidates that pass barely do. For all of the candidates that are borderline failures, there are a few different things that probably matter:
-Number of failed sections
So yes, luck does matter but only if you have studied enough to give yourself a very good shot of passing. I can’t imagine that candidates who are not well prepared would pass the exam based on luck alone. Can you?