Variation in examiner stringency is an ongoing problem in many performance settings such as in OSCEs, and usually is conceptualised and measured based on scores/grades examiners award. Under borderline regression, the standard within a station is set using checklist/domain scores and global grades acting in combination. This complexity requires a more nuanced view of what stringency might mean when considering sources of variation of cut-scores in stations. This study uses data from 349 administrations of an 18-station, 36 candidate single circuit OSCE for international medical graduates wanting to practice in the UK (PLAB2). The station-level data was gathered over a 34-month period up to July 2019. Linear mixed models are used to estimate and then separate out examiner (n = 547), station (n = 330) and examination (n = 349) effects on borderline regression cut-scores. Examiners are the largest source of variation in cut-scores accounting for 56% of variance in cut-scores, compared to 6% for stations, < 1% for exam and 37% residual. Aggregating to the exam level tends to ameliorate this effect. For 96% of examinations, a 'fair' cut-score, equalising out variation in examiner stringency that candidates experience, is within one standard error of measurement (SEM) of the actual cut-score. The addition of the SEM to produce the final pass mark generally ensures the public is protected from almost all false positives in the examination caused by examiner cut-score stringency acting in candidates' favour.