首先，FRM考試的通過與否取決于考試當(dāng)年全球考生整體答題正確率有多高。GARP協(xié)會(huì)會(huì)取全球*6分的一部分考生（比如5%）的平均成績，再乘以一定比率（比如75%）得出一個(gè)通過分?jǐn)?shù)線，以此來衡量其他考生是否通過考試。

 

　　GARP says they take the top 5th quantile (i.e., whatever score cutoffs the top 5th “percentile”), then they take a ratio (e.g., 0.75) of that top score. I personally suspect the ratio (0.X of top 5%) is calibrated after the results are tabulated to approximate a ~50% pass result; or, best case, they use .75 of top 5% (e.g., if 0.75* top 5% only passes a small % due to high difficulty, I doubt they would keep it).

 

　　But, either way, it’s really based on an (ex post) “grading on a curve” (no segmentation by section/topic, all questions weigh equally)...therefore: I do not think you can divine anything useful from the method. Unfortunately, it’s a waiting game.

 

　　FRM成績單的形式是對考生每個(gè)科目的答題情況進(jìn)行評分，將每個(gè)科目的全體考生分?jǐn)?shù)劃分為5檔(Quartile)。

 

　　往年FRM考試成績單樣本如下所示：

 

　　Following is the analysis of your performance in each of the exam categories:

 

　　1．Credit Risk Measurement and Management

 

　　You scored in the 1st Quartile in this category. Candidates scoring in this quartile demonstrated a strong understanding of the subject area. These candidates scored in the top 25%.

 

　　2．Market Risk Measurement and Management

 

　　You scored in the 1st Quartile in this category. Candidates scoring in this quartile demonstrated a strong understanding of the subject area. These candidates scored in the top 25%.

 

　　3．Operational and Integrated Risk Management

 

　　You scored in the 1st Quartile in this category. Candidates scoring in this quartile demonstrated a strong understanding of the subject area. These candidates scored in the top 25%.

 

　　4．Quantitative Analysis

 

　　You scored in the 1st Quartile in this category. Candidates scoring in this quartile demonstrated a strong understanding of the subject area. These candidates scored in the top 25%.

 

　　5．Risk Management and Investment Management

 

　　You scored in the 1st Quartile in this category. Candidates scoring in this quartile demonstrated a strong understanding of the subject area. These candidates scored in the top 25%.