You must pass each & every element of the final selection day.
Passing isn't designed to be overly hard though. That might sound like an odd thing to say- but minimum pass criteria are just that, minimums. You can potentially get the minimum score in one test yet do incredibly well in other elements and that can swing it in your favour.
I think this is what the previous post about pinning hopes was implying.
You are of course right that you need to pass each element. However it is sometimes possible to score below 50% in a test and still "pass".