[Avodah] Q. If one read through a Masechta, but did not really understand it, can he make a siyum?

[Cantor Wolberg]

That’s a question which I have always wondered about.
The way I see it is the same as taking a test and either passing
or failing.
If you and I take a test and you get 100 and I get a 60 (assuming
that is the passing grade), then I have at least passed.
Therefore, I see the same as learning. We both can have learned
B’rochos and you know it by heart with all of the m’forshim, and I
have learned it enough to get a passing grade so therefore I feel I
would have the right to make a siyyum. However, I would look upon
your siyyum as more noteworthy (however you wish to interpret that).