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Advice for those who did NOT pass today...

Image result for tk 421 why aren't you at your post

"There are three levels of pain: pain, excruciating pain, and pursing the CFA charter."

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Great read. Sometimes I feel like, “what have I gotten myself into?” Here I am thinking I can work full time, spend January till June studying for each level, and during the summer and fall take classes towards a master’s degree for the next 3-4 years. I’m single and have no family yet at the age of 27, but this definitely puts everything into perspective. While i’m excited to learn and become a better analyst, the commitment and sacrifice this requires, what some of the people went through on this thread to join that elite club of financial professionals…just goes to show it’s a big decision to make. 

Dream it, do it.  Winning moments.

A No.1 wrote:

Dream it, do it.  Winning moments.

I love it.  Truly inspriational.  

82 > 87
Simple math.

It’s very true that the CFA takes great sacrifice.  It takes long hours and dedication.  There’s just so much content on the exams.

However, I actually believe that most candidates can pass all three levels.  The questions on Level I, for example, aren’t hard–they just cover many different topics.  The CFA exams are tough not because they test high-level concepts but because they cover many topics.  On top of that, most candidates work full-time.  Time is a major issue: both when studying for these exams, and when taking the exams.

I’d suggest everyone first decide whether the commitment is worth it.  Anyone who decides to go down the path should then find a good provider to study efficiently.  It’s important to manage time so that you leave plenty of time to practice questions.

————

Keith Lo
Product Manager at AdaptPrep

https://www.adaptprep.com/cfa

I agree.

Oh no, you don't want to mess with a guy thats riding on a buffalo.

I’m gonna go ahead and bump this so you guys have a little extra motivation for the next two weeks.  

Love to hear your thoughts and comments.  

82 > 87
Simple math.

Great i will consider marry a lady pursuing CFA as well so life balance done deal, i hope i will pass L1 Ameen

I like your words and we ll talk it in a positive way rather than a discouraging post to discontinue the CFA journey it’s what it’s no pain no gain.

The fact that the OP was lazy and useless and that it took several attempts to pass each level doesn’t necessarily mean that the whole world is useless. Do not listen this bull**** opinion. I didn’t and have a quite different experiences.

play it again, Sam

So after all of this - most of you are “seasoned candidates” or charter-holders, or somewhere in the middle. You’re the guys with the experience, you know the drill and any advice you give is relevant, and unlike fellow L1 Candidates, who haven’t seen it all, your advice has some substance and relevant source. 

Could you give us new-bees some advice? How should we be spending these last few days? Where should we be up to?

What did you guys feel when you were at this point, how did you keep yourself going - those of you who felt like you’d wasted a million hours and 14 days before know nothing (Hi, this is me)?

If its taken me 6 hours to get through my first mock and another hundred to review the answers, pretty much having to relearn the syllabus, do I have a chance? I feel like I’m stuck in a rut. 

Praying that I do pass - my next question is, can you pass L2 with 4 months to study? 

Thank you all, and congrats on all your amazing achievements (and perseverance, those who are still on their way up). Its really nice to read a thread like this. 

1. That’s normal and given this is your first experience with CFA exams (assuming this is your fist attempt), you are probably very nervous and excited so felling like “not knowing anything” might not be objective.

2. same as 1, if you’ve decided to take a review after 1st Mock, this is a sign that you’re probably on right path. Take another one and outcome should be better, you’ll need less time for the better result.

3. You can pass L2 with 4 months of study but If you pass L1 now, you would have more than enough time to nail L2.

play it again, Sam

Flashback wrote:

1. That’s normal and given this is your first experience with CFA exams (assuming this is your fist attempt), you are probably very nervous and excited so felling like “not knowing anything” might not be objective.

Yes, there was such thing. It took a while before I could start, I was really quite nervous about exam.

Flashback wrote:

The fact that the OP was lazy and useless and that it took several attempts to pass each level doesn’t necessarily mean that the whole world is useless. Do not listen this bull**** opinion. I didn’t and have a quite different experiences.

Question–how many times did you fail L1?

82 > 87
Simple math.

Dear All,

I suggest you do your tests every day than re read text understand mistakes and repeat. CFA charter is worth it!. and gives hell of satisfaction to join 140 000 member community who passed the most difficult finance exam set on earth ( a few say most difficult exam on earth of all)
Take your notes, pencils, erasers, books and get study. I did my! DO YOUR JOB! sorry Pats…;)

Time for the biennial bump.  Guess I forgot to do it in January.  

Nonethless, good luck to all.  I hope this thread doesn’t apply to you.  

82 > 87
Simple math.

Greenman72 wrote:

Time for the biennial bump.  Guess I forgot to do it in January.  

Nonethless, good luck to all.  I hope this thread doesn’t apply to you.  

Greenman - where is the level 3 make me feel like complete sh!t if I fail thread??

¯\_(ツ)_/¯ It be like that sometimes.

Bump back to the top

Greenman72 wrote:

If you didn’t pass today, I’m sorry.  I’ve gotten two of those “We regret to inform you” e-mails, and I know that they suck.

My intent with this thread is not to be a “hater” or a “Negative Nelly”, but I really want to save some of you from even more heartache in the future.  I’m not trying to discourage anybody.  But I think most people (including myself) underestimate how long and lonely a road is the CFA exam.  This ain’t the SAT or the Series 7.

If you have a Bachelor’s degree in Finance or Accounting, then you should be able to pass Level 1 with only a couple months of study.  (Of course, if your Bachelor’s is in Art Appreciation, it will take longer, because you’re having to learn all the stuff that we learned in undergad.  I’m assuming 90% of the people taking the test have an undergrad in finance/accounting.)

If you legitimately study for 6 months or more and still don’t pass, then I seriously doubt that you will ever pass Levels 2 or 3.  Level 1 is cake.  Level 1 is the application for admission.  The real “meat and potatoes” start at Level 2.  The time commitment and the difficulty levels shoot through the roof at the higher levels.

And if you didn’t really put in the time and effort to pass Level 1–what do you plan to change in June?  Do you think you can do it all over again (plus another 100 or so hours) for Level 2?  Do you think you can do it a third time for Level 3?  Maybe you can, but you really need to take a hard look at yourself and how committed you are to the exam.

Before you jump right in and re-register for Level 1, read some of the posts from those who are studying for Level 3 and see how much it has consumed their life.  You start fighting with your spouses all the time, because you spend so much time studying.  You don’t get to see your kids.  You get stressed out easily.  You stop working out and start eating a bunch of unhealthy crap.  You can’t enjoy any time off–if you’re lucky enough to get any time off.  You start drinking waaay too much to try and relax.  You can’t focus on anything but the test, and you start wondering if you’re getting enough study time in. You focus too much on the test and not enough on your job, so your job performance suffers.  You take vacation days off–then spend the whole time studying.

All in all–there are worse things in the world than failing the CFA Level 1.  What could be worse?  Well, passing Level 1, then taking Level 2 three times and failing three times is worse.  Or passing on the third time, then failing Level 3 three times.   Or passing the exam at the expense of your job and your family.

Anyhow, if you do decide to keep pursuing the CFA Charter, good luck to you.  And if you think it’s just not for you, that’s okay too.  Giving up 1000 hours of your free time is not a decision to take lightly.

I would say if someone has failed, they should work on their weaknesses and come strong next time.