VCAA uses the actual results for each of the sacs for every student to calculate the 34% that is attributed to school based assessment in the study score.
Actually nah, it's just rankings. That's the reason why MHS has stupidly difficult SACs because it helps to get a better and more accurate distribution of rankings. There's no benefit in getting everyone high SAC scores and bunching them up at the upper 90% zone, because then essentially the students who will actually do well on the exam may not get a brilliant SAC score to pair with it, leading to worse scores for the school as a whole. It's not possible to use the actual SAC results because it's impossible to standardise across schools. What is possible to standardise though is the exam, so they use the exam scores paired together with the rankings to work out what the raw SAC scores should be, with some slight adjustments made after this (not 100% sure what this entails).
k say i got 96/100 for the year and there were a few people who got 97-100%, say 5
does this mean im ranked 5 outright or do they recognise that it's stupidly close
is 49-50 still possible considering i got 100% on exam 1 and i get the same result today?
A ranking's a ranking - they won't just 'meh, close enough'. However, you don't need top rank to get a 50 or anything like that - it's all relative to what exam scores your cohort gets. For example, MHS has got like 13 50's in business management in previous years. It's pretty much because all those 13 got near full marks on the exam, so consequently, they get the same for their SACs. As long as those other people above you did decently in the exam as well, you should be fine.