CIPM Exam Results

October 2012 Exam Pass Rates

• Principles: 54%
• Expert: 48%

Results are made available online, usually within 60 days of the close of the exam window.

You will be notified by e-mail when your confidential results are available online. Please ensure that your primary e-mail address is updated and active at all times.

You may not sign up for another exam until your results have been released.

CIPM Minimum Passing Score

The CIPM exams are compensatory; there is a minimum passing score (MPS) for the exams as a whole, but not for the individual topic areas reflected on each exam. After the completion of each exam window, candidates’ scores will be returned to the CIPM Association to undergo thorough statistical analysis.

The CIPM Association sets the minimum passing score for each exam. Pass rates are a result of, not a determinant of, the minimum passing score. Exam results are reported as either “pass” or “fail.” Exact numeric scores are not released to candidates.

Standard Setting for the CIPM Exams
Standard setting is a rigorous, systematic process that is widely employed in professional credentialing programs. CFA Institute uses standard setting as an input into the minimum passing score (MPS) decision-making process for the CFA Program exams. The CIPM program employs the Angoff standard-setting process, considered by test and measurement experts to be a reliable evaluation method for selected response exams.

The process involves assembling a panel of practitioners who are familiar with the knowledge, skills, and abilities required of competent practitioners in the field of investment performance valuation and presentation. Working under the direction of professional test and measurement specialists, the panelists go through an organized process to assess candidate performance. The MPS is determined after the completed questions have been subjected to thorough psychometric analysis and the standard setters have concluded their evaluation.