May 2012 Exam with Solutions

[ObjectivelyBiased]

Went through the rubric and report in some detail. This is exactly the kind of report we have been needing in exams. Particularly relevant to me was the examiner's discussion of typical candidate responses, and why these were not given credit. My assumption is that this detailed response should alleviate much of the demand for appeals going forward.

The handling of the problem questions (Panning, Kreps) seemed to me exactly how it should have been done. As stated above, it was more of a surprise that this happened in the first place. Particularly Panning - how did that question, essentially verbatim from 2009, end up on the test? And then, as stated above, how was this originally a 3 hour exam? All said, graders have added transparency and did well. The exam writing itself looks to still need work.

[drytellar]

Originally Posted by ObjectivelyBiased

Went through the rubric and report in some detail. This is exactly the kind of report we have been needing in exams. Particularly relevant to me was the examiner's discussion of typical candidate responses, and why these were not given credit. My assumption is that this detailed response should alleviate much of the demand for appeals going forward.

The handling of the problem questions (Panning, Kreps) seemed to me exactly how it should have been done. As stated above, it was more of a surprise that this happened in the first place. Particularly Panning - how did that question, essentially verbatim from 2009, end up on the test? And then, as stated above, how was this originally a 3 hour exam? All said, graders have added transparency and did well. The exam writing itself looks to still need work.

[BigBen]

I definitely like the new 'examiner's report' comments. They really seem to be making an effort to help candidates understand the grading rubric, something that hasn't really been done in the past (except for when Arlie Proctor released those sample rubrics for old exams 6 & 9, that was another big step in the right direction)

Still - 3 faulty questions out of 18 total?

[WhoCares]

Originally Posted by ObjectivelyBiased

Went through the rubric and report in some detail. This is exactly the kind of report we have been needing in exams. Particularly relevant to me was the examiner's discussion of typical candidate responses, and why these were not given credit. My assumption is that this detailed response should alleviate much of the demand for appeals going forward.

The handling of the problem questions (Panning, Kreps) seemed to me exactly how it should have been done. As stated above, it was more of a surprise that this happened in the first place. Particularly Panning - how did that question, essentially verbatim from 2009, end up on the test? And then, as stated above, how was this originally a 3 hour exam? All said, graders have added transparency and did well. The exam writing itself looks to still need work.

When you say Panning, do you mean Ferrari?

[ObjectivelyBiased]

Oh right, yes. The Paper from the 1910s.