This is for all those who say, “I will pass the test or I will die trying”, kinda like the Lenny who finally passed after 21 years of taking the CFA exam.
Greenman’s Jedi Wisdom - if you fail a level once, then maybe you just didn’t show the test the respect that it deserves. Maybe life got in the way, like it did for me at Level 1. Maybe you could have passed it, but you ran out of time, which is what happened to me at Level 2. There are a lot of reasons that a person fails a test once.
But if you fail a test twice, you really need to rethink your decision to pursue the holy grail that is the CFA Charter. If you couldn’t carve out enough study time the first two times you took it, what makes you think you’ll find the time the third time? If you studied the “requisite” 300 hours the first time and another 300 hours the second time, what makes you think that you’ll actually pass the third time?
And keep this in mind (especially those who fail Level 1 twice)–the test only gets harder at Level 2. Then it gets harder still at Level 3. If you have a lot of trouble at Level 1, it will be extremely difficult for you to finish the race.
For the record, I failed Level 1 once, because I was still in grad school, and wasn’t able to put in the time and effort that I needed to pass Level 1.
I also failed Level 2 once. I took L1 in December, and got my results on January 25. That only left four months to study. During those four months, Ibought a house and moved to a new city, got a new job in a new career field, and found out my wife was pregnant. Even so, I got a score band 10.
After failing Levels 1 and 2, I re-took both of them and aced them. I am now awaiting Level 3 results.