SOLUTION: The chartered financial analyst (CFA) is a designation earned after taking three annual exams (CFA I,II, and III). The exams are taken in early June. Candidates who pass an exam ar

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Question 1168487: The chartered financial analyst (CFA) is a designation earned after taking three annual exams (CFA I,II, and III). The exams are taken in early June. Candidates who pass an exam are eligible to take the exam for the next level in the following year. The pass rates for levels I, II, and III are 0.53, 0.78, and 0.85, respectively. Suppose that 3,000 candidates take the level I exam, 2,500 take the level II exam and 2,000 take the level III exam. A randomly selected candidate who took a CFA exam tells you that he has passed the exam. What is the probability that he took the CFA I exam?
Answer by ikleyn(52781)   (Show Source): You can put this solution on YOUR website!
.

                This post contains many words,  but still is  UNCLEAR.


Lets consider this passage 

    "A randomly selected candidate who took a CFA exam tells you that he has passed the exam."

To which of the numerous exams/stages does this statement relate ?


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My experience tells me that when the problem formulation contains so many words,
its true goal is not to teach - it is to confuse.



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