Psych boards have historically had a notoriously low pass rate (sort of in the less than 60% range. This is by hearsay, because I think that they keep it very "close to the vest", sort of like a "secret" that nobody wants to talk about or is even supposed to talk about!). I know, one could argue maybe that the overall quality of the total applicant pool may be in question; others also say the orals are really weirdly subjective. OTOH, I know several great and very competent attendings who are not boarded. No one talks about it in Psych. It's almost like an embarassing "family secret".
Personally, since I've always been a big fan of transparency, I've always wondered why, in general, the boards seem to have been historically hesitant to disclose their pass/fail rates. What are they afraid might happen? I'm not sure if this pertains to all the specialty boards or just to some of them.
Whenever one talks with docs from many specialties, not just Psych., who are currently preparing for the boards or have just recently taken them...you get these disquieting sighs and a lot of comments comparing the board exams to some sort of hazing! (Especially the ones with an Oral component.)
I think it's sort of an almost obsolete/quaint traditionalism which seems a bit out of synch with this era in which real-life physicians in practice are otherwise regulated to death. Nowadays, realistically, to get into any type of post-residency credentialling, either on a hospital staff, or on insurance panels, most require one to be board certified anyway, or at least to be certified within a specific time-frame, like 2 or 3 years after completing your residency training. So I guess, also in real-life, most docs do get to take and pass their boards sooner or later. It's still an obviously anxiety provoking "rite of passage".