I really don’t understand why anyone refers to the exams at any level as “harder” than another. None require anything beyond a basic understanding of algebra in terms of the calculation required. It’s simply a matter of learning how to understand financial relationships and unfortunately an awful lot of rote memorization. Of course this whole thing is grueling to be sure; but there is nothing on any of these exams that is truly difficult to understand (versus difficult to recall).
Wow, lots of hating in this thread. I am trying to motivate. I know several people who considered themselves intelligent having aced L1 and L2 thinking they would wait until next year to start L3 studying. Guess what? They are biting nails and sweating ass for their results again having had to retake. L2 is a bitch and very easy to feel like it is all downhill now that the “tough quant” **** is over and the rest is common sense PM.
The top of the mountain is still ahead but closer. in two years would you rather be in a library with a friggin Schweser book on Memorial Day or sipping tequila on a beach like I did this year?
Am going to revisit this thread and see which of the above haters post that Band 10 fail comment in a year. Boy will that suck…
andytrader, CFA
Who hurt you?
Bro you need to spend more time with your family and friends (if you have one) cause you need some love. Talk to them about your insecurities. Good thing you have the charter to compensate what is lacking in your life. So what if we fail? There’s always next year. The CFA charter is not the be all and end all of life. There are a lot of haters here because you’re post is hateable. Just stfu if you don’t have any meaningful words to say.
No, it isn’t.
Truth is that (about) 50% of the people who take the Level III exam fail, including those who do not show up, and those who are ill-prepared. Only if the people who post here are a representative sample from that population (and I strongly doubt that they are) can you conclude that the population statistic applies to the sample.
Once people told me that CFAL1 was a joke…now they are telling CFAL2 is a joke…in 2015 they will say CFA was a joke…
Really?? I though that non showers were excluded from the passing rate…
That’s so negative. Why wouldn’t you say half of us will pass L3 next year? I see cup half full…
I think it is cruel to post something like this. Yes, we enjoy our pass, we worked very hard for it and we deserved it. I do not think that any candidate who has come that far thinks that any level is a joke.
Maybe the author of the thread could clarify what exactly is so terrible about level 3?
and really help?
Instead of insulting?
To myself, level 3 material is a new planet. Yet, I do not think it is necessarily a bad thing: back in my Masters, people who outperformed were those coming from non-finance related disciplines, so fresh look is better sometimes.
I am honestly trying to understand what makes level 3 so complicated and would be grateful for constructive advice.
The only person who told me that CFA was a joke was the the one who passed CAIA and claimed it being superior to CFA.
Weren’t you the guy who claimed that CFA charterholders are really just “glorified accountants”?
"Not to rain on your parade but this is truth. Having passed all three on my first attempt, you might say I was lucky. But I would argue that I just busted ass. Get those L3 books and start reading.
Level 2 was a joke compared to level 3."
^ Dumbass, you’re only saying this cause you think you’re superior
First of all I am a girl))).
Second - I said “financial analysts” as defined in Germany, which is indeed a person doing cost reviews and modelling. Not Chartered Financial Analysts.
So you got all wrong, do your research)))
Interesting, what kind of research would that be?
Other than that, I guess the term Finanzanalyst took a turn for the worse in Germany after those AWD scandals. Still I think if you work in München, Frankfurt or Stuttgart people will not see you as a glorified accountant.
Proof positive that there needs to be a test section to weed out douchebags from getting the charter.
^ I’d back an interview or personality test as part of the charter process… for L1 candidates of course 
or a confidential lie detector test, ask question such as are you an ethical person? Are you a psycho? Are you a sociopath?
Do you think with your ass? Just asking
How do you know more than 60% WILL fail??
Past perfomance is not a predictor of future perfomance.