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Quantitative Methods Q158

158From the past records of AB Financial Training, the passing rates for Level I exam and CTP exam have been 70% and 60% respectively. Analysis indicates that among the people who have passed CTP, 50% have also passed CFA Level I. What is the passing rate of CTP among people who have also passed CFA Level I before?
  • Option : B
  • Explanation : Data given in the question: P(CFA) = 70%, P(CTP) = 60% P(CTP | CFA) = P(CTP CFA) / P(CFA) We have to find the passing rate of CTP giving members who have passed the CFA exams as well. P(CFA and CTP) = P (CTP CFA) = P (CFA | CTP) * P(CTP) = 0.5 * 0.6 = 0.3 P(CTP | CFA) = P(CTP and CFA) / P(CFA) = 0.3 / 0.7 = 0.428 or 42.8%
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