Sorry, last post sent before it was finished ...........
continuing..
say students A,B,C,D,E get the top 5 SAC scores of 80,84,88,92,96 respectively.-
In the external exam they score as follows A 83, B 91, C 85, D 80, E85
The moderation process will set the top SAC score equal to the top exam score ie E has the top SAC before moderation of 96 - this will be adjusted to the top exam score of 93.
After that it is a little less clear. The 1st quartile SAC score is set equal to the 1st quartile exam score, the median (mean?) SAC is set equal to the median (mean?) exam score, the 3rd quartile SAC is set equal to the 3rd quartile exam, and the spread of all SAC scores in between these benchmarks is made similar to the external spread.
However, the order remains the same ie E gets the highest moderated SAC score, D gets the 2nd highest, C gets the 3rd higest etc
The external exam scores are not changed at all. Only the SACs are moderated.
The significance of this for estimating study scores is that your ranking (not your absolute SAC score) will determine what your moderated SAC score becomes.
If your are ranked #1 for SACs at your school, you will get a SAC score equal to the highest exam score achieved by anyone at your school, irrespective of whether it is achieved by you or someone else.
Your moderated SAC score becomes dependant on what your school's cohort achieved in the exam.
It is a very strange and flawed system, and there are anomalies all over the place. But it is the best that VCAA can do to protect against schools exaggerating their internal scores to the advantage of their students.
I hope this helps, rather than confuses you further. As I say, look it up on the VCAA website for more details.