If travelling was as difficult as he mentioned, then how did the organisers of the exam travel? I am sure they wouldnt travel in an ambulance to just conduct an exam. Give me a break!
http://www.analystforum.com/forums/cfa-forums/cfa-level-iii-forum/91273724 (kh.asif & nazmul.razu comments) http://www.analystforum.com/forums/cfa-forums/cfa-level-iii-forum/91273812
Headspinning!! Taking my words back… OMG, All respect!
It would be nice to hear more about why it took so long? If he wasn’t a candidate for 15 years, that would change my view. If he truly sat for the exam over 10 times, that is remarkable persistence.
That is so embarrassing.
CFA should limit each level to 1 attempt every 5 years, max 3 attempts.
So, are you saying that if I fail Level 2, I shouldn’t get to take it again for five years?
That sounds a little harsh. Five years is a long time.
I do, however, support a “three strikes” policy. You shouldn’t be allowed to take the same level more than three times. Let’s face it–if you can’t pass it on the third try, you probably can’t pass it on the fourth or fifth or sixth, either.
Perhaps it is. But considering how many designations exist on the planet…
Another option would be to make the conditions for what constitutes a pass more rigorous. Put the exam on a curve and only pass the top 10% of test takers. Or perhaps if you fail a level you have to pass the previous level again before you get another shot.
Something different at least.
I’d vote for some combination of the two.
The CPA exam has an 18-month policy. Once you pass a part, you have 18 months to pass the other three. Maybe CFA should do the same. Once you pass Level 1, you have 5 years to pass Levels 2 and 3. That gives you five years to pass two exams. And once the five years is up, you have to wait 3-5 years, then start over from scratch.
I don’t know if I agree with passing the top X% of test-takers, though.
Just cap how long you have until your results expire.
3 or 4 years seem long enough.