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I am in deep deep trouble and i think i would fail level 1

This is my situation as of now:

I haven’t completed corporate finance and derivatives section yet.
Currently i am revising the whole topics and FRA would be completed tomorrow along with EOCs of FRA. I haven’t attempted a single Mock exam yet and also not attempted a single question from Schweser Qbank.

I know you would be thinking what was I doing this whole time as i haven’t completed anything, I started studying in the beginning of September but 5-10 days wasted due to passport registration and other issues.

Right now i am crying from inside and outside as i have paid the late fee for December 2015 attempt (which equals 1660 USD), plus huge expectaions of my family and friends.
My whole family thinks i would pass seeing me doing hardwork but deep inside i know i would fail as i haven’t prepared well.
I don‘t want to fail this attempt there is too much pressure and expectations on me, i am willing to do anything for the next 20 days until exam, be it studying 20 hours.
Seeing other guys having completed Mocks and a lot of practice under their belt i feel even more dejected.
 

 

You’re ready to take on the CFA Program, so stop guessing where you should begin. You give us your study dates, we’ll give you the study plan. Our adaptive activity feed breaks down your 300 hours into bite-sized weekly tasks that fit into your life.

“The only thing that we fear is  fear itself”. 

This is fact that your preparation is not up to the mark, as per the study plan discussed by you, but still i recommend not to loose hopes. Needless to mention CFA exam is 3rd thoughest exams around the world, as per financial times survey 2015, you need to put your all out efforts in order to compete more than 100 thousands candidates  will appear in the exam. I still believe you can get bang for the buck, if you plan accurately so far.

I think you should utilize your maximum time whic is still remaining try to Just glimpse over the remaining topics or readings because you have’nt enough time to read them in detail. Subsequently, try to opt mock exam of CFA institute and Scheweser Qbank. These are the only weapons left with you.

Be confident, and Go ahead…….   All the best….

I DEFINITLY  know how you feel.  With 3 weeks to go when I took the June exam, I knew my chances were slim when I started actually testing my knowledge with the mocks.  It was the worst feeling….. probably one of the hardest things I ever had to deal with. (LOTS of tears!)  I had worked incredibly hard ……so to see I would most likely not get the reward of passing was so devastating! 
I am not trying to discourage you.  It was a diffucult situation for  me becasue I had not ever taken accounting, economics, or ANYTHING.  I was learning it all from scratch and trying to make it stick.  I bet you have an advantage right there.  Also, I wanted to say…. I made a ton of progress in those last 3 weeks.  You will too.  I ended up getting “band 8” (when you don’t pass, they rank you agaist all the others that didn’t…. yea, they know we are that anal!).  So really, considering my situation, I probably did even better than I should have. (with 3 weeks to the test, I still didn’t know how to do cash flows on my calculator!)   …. every day, study as hard as you can!   Anyway, you too will make a lot of progress in the next 3 weeks.  You too will do better than you think.   My problem was the fact that all of that infromation was stuff I had learned for the first time in the last 6 months.  I bet for you, some of it is review of sorts.  Pieces will start to fall together. 

really hit the ethics and accounting hard because those sections are so big.  you can probably get a couple <50% on the smaller sections and still pass.

"But I don't think of you"..... Howard Roark

I scored a 40% on the CFAI mock the weekend before the actual exam and I passed. I panicked after I saw my score and spent the week just drilling questions from the Schweser Mocks. I would do all the Econ questions from an exam, review, do Econ questions from another exam, review, so on and so forth, then do the Quant, FSA, Equity etc etc. Just flat out drill those questions till you can’t do it anymore. What I found was that Schweser exam Q’s were harder than the real thinig.

Now that i think about it, I’ve never actually passed a mock exam. 

tahir saeed wrote:

Needless to mention CFA exam is 3rd thoughest exams around the world, as per financial times survey 2015

you wouldn’t happen to have a link to this Financial Times survey would you? Tried searching google but can’t find anything from the FT…

Many thanks

S666 wrote:

tahir saeed wrote:

Needless to mention CFA exam is 3rd thoughest exams around the world, as per financial times survey 2015

you wouldn’t happen to have a link to this Financial Times survey would you? Tried searching google but can’t find anything from the FT…

Many thanks

I red it at the face book, as the page is added in my facebook account…

https://www.facebook.com/financialtimes/posts/10152472066315750

Why would you ever think such a silly thing.  You can still do this.  You have 3 weeks.  I don’t know your work situation but lets assume you get home from work around 6.  You can get 4-5 hours of studying a night and 10+ on Saturday and Sunday.  So thats 40-45 a week for 120-135 hours now until test.   

Start hitting those mocks now.  You will learn 5x as much as reading and 2x as much as EOCs.  After you take one, look at your mistakes.  Fix.  And repeat.

Focus all your time on heavy weighted sections and any weak areas you think you can clean up rather quickly.

Keep your chin up.  You still control your destinity up until your pencil goes down on test day.

There are those that say they can and those that say they can't and they are both usually right

This is great motivation. I knew I wasnt the only person scoring that low. Im currently around 30-38%. But I “put in the work”, literally do/ doing 7 hours a day, 6 days a week.

CFready wrote:

This is great motivation. I knew I wasnt the only person scoring that low. Im currently around 30-38%. But I “put in the work”, literally do/ doing 7 hours a day, 6 days a week.

Do practice questions from mocks like I described above.

A week ago a friend of mine was in a similar situation as you. He skimmed through the remaining topics (Eco and Hypothesis for him) and gave 2 mocks to find out where he stands. He got approx 45%. But instead of being disheartened he got pumped up and decided he is going to give his best shot in passing this exam. He gave up all distractions: Cell phone, TV and laptop. He studies for 12-14 hours daily. His strategy involves doing tons of questions along with spending couple of hours going over topics/concepts in which he thinks he is weak. He plans to do 4 more mocks before the exam. I find this strategy to be simple and hopefully effective. Stop discouraging yourself, you can never ‘know’ if you will pass or fail, hence thinking stuff like this is just a waste of time. Given the time frame I would suggest you should put in as many hours as you can and give it your best. Hope this helps.

Yes, Im on it.

By hitting ethics n fra hard how much in % do u mean in the mock exams while getting< 50% in a few sections?

I didn’t take a single mock exam for Level I or II. I finished studying the week of the exam and had a baby the week of the exam. Stop crying and posting here and read your material. Don’t let your family think you’re a loser and pass the test.

great news, just took the FRA topic exam again and score a 73% (first time 33 or 38%), didnt even feel that confident either.

Think I can hit around 80-85% after I retake a couple more times. 

you’re not going to pass with that attitude

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

I have been in your exact frame of mind. Do not lose hope. Many fail CFA  because they get too worried and freeze in the days approaching the test. You need to stop questioning yourself and just keep hitting the books.

Rely only on Scheweser, keep reading the summaries and do the scheweser end of chapter questions. You can pass level 1 with this.

Spend 60% of the time on new topics and the rest to revise the rest.

You have almost 19 days. 19X20 is 380 hours!! The recommended is only 300 hrs.

You have a great chance to pass. Don’t bog yourself down.

you can listen to video lectures at 3X speed , thereby increasing ur chance to pass with ease.  do mock tests n examples from curricullum, they are as important as kaplan .  ALL DA BEST smiley

CFA ROCKS!!!

You are a lot better off than some of hte people I have seen posting on here & reddit dude. There is a LOT of overlap on corp that you will have seen in quant/FI/Equity its just some modified concepts. 

If you buckle down I dont think you are screwed at all, not in the best shape but certainly passable!

Screw the Qbank, I would do a mock right now and see how you do, get a gauge of where you are and what work you need to do. You have to take inventory and then make a game plan.

'A flute with no holes, is not a flute. And a donut with no hole, is a danish'

brother, i think you can do CF and derivates in 2 days .

if u have a finance backgroud … derivates might be bit difficult ( ignore if u find trouble, as no time left)

my advice is just focus on cfa topic based mocks, mocks exams, n cfa mock.
dont get hung up if you dont know many of question , try to understand once you finish all.

what you have done till yet ..
do that perfectly like FRA and others.

hope u do well in exam :) wish u the luck (Y)

stuartbale1 wrote:

 i have paid the late fee for December 2015 attempt (which equals 1660 USD), 

CFA L1 is that expensive now wtf?

“Your beliefs become your thoughts,
Your thoughts become your words,
Your words become your actions,
Your actions become your habits,
Your habits become your values,
Your values become your destiny.” - Gandhi

I have completed 1 and a half schweser mocks and here are my scores

Am 62%, Pm 60%

Yesterday I gave another mock after practicing weak areas and got a score of 66%.

However these are not good results as many of guys in this forum are getting scores of above 75%. What should I do to improve my score I am in panic mode right now as there is not much time left.

@gigaloo

So nice to hear from you, I have read your several posts how are you getting such high scores of above 75% on mocks. My highest score is 66% recently. 

What should I do to improve my score to above 70% on schweser

First of all, don’t look at others’ scores! Comparing yourself to others is just going to make you panic, which you really don’t need on top of all your stress already. The only thing you should be comparing your scores to is the number 70. Ideally you should aim for 70% or above, but I’ve been told that realistically you’ll pass if you get around 65% (but i would still aim for 70% to be on the safe side).

What’s working for me right now is rereading the concepts i’m not doing well on and then using the Qbank right after i’m done reading. I feel that I actually am able to retain more info this way. If you haven’t gotten 70%+ in  Ethics, FRA, and Quant, then I’d focus more on those since they’re weighted the most. Also remember to give your brain 15-30min breaks every so often. Good luck!

I completely agree with d-bid’s comment. I started preparing in July, you started in september: see the difference? Stop comparing with others. It will only discourage you. Utilize the time you have in the best way possible and keep 70% as your ideal target, not someone else’s score. If you are confident with the concepts then do loads of questions/mocks for practice. If you are not confident spend some time on concepts and then do loads of questions/mocks.

How are you guys calculating mock exam scores? The number of questions you got right divided by the total number of questions, or the percentage of questions got right in each section multiplied by the weights attached to that section? ( eg. Got 70% questions in FRA right x 20% weightage = 14% in FRA)

I calculate weight of each topic just to follow-up how well I am doing in certain topic.

Anyway, those result are weighted already in overall result and this mean that if you reach over 70 % you have not underperformed in certain topic ( less than 60 %). Do not forget consider both sessions, AM & PM as one common exam.

play it again, Sam

I just completed a Schweser mock and got a score of 75%.

I got 42% in fixed income which is a significant drop from before. there are many concepts in fixed income which are confusing. How should I improve on this topic.

What is your evaluation on my score is it enough considering the time left for the exam?

Advice is needed for the next few days.

Make sure that you cover all the areas. CFA Level 1 tests a little about everything. 

Concentrate on the CFAI mock not Schweser

get your score, and spend 80% of your time on the weak areas. 

Do Schweser Qbank concentrating on those areas, or EOC in CFAI text. 

One nice thing about the Level 1 exam is that the questions are by topic sections.  - You can jump straight to the topics you feel you’re stronger on instead of working through the questions sequentially.  You want to spend the most time on the sections you feel you have a chance of doing well on rather than wasting time trying to figure out questions on your weaker subjects that you have a lower chance of getting right.   That said, answer every question even if you’re just guessing because there isn’t a penalty for incorrect answers, as there is on some standardized tests.

I mean this in the nicest way but one positive about being behind on your studies is that you’ll probably feel sick throughout the exam so you won’t be psychologically thrown off when you hit a run of questions that you really don’t know the answers to.  Even if the morning exam is awful, come back for the afternoon session.  Sometimes candidates find one session easier than the other.

You’ve got another week to study.  A lot can come together in a week.  Trust me on this.  

Good luck.

I have this strange experience about questions you completely don’t understand, pick the option you’d think it is the least correct. And chances are it ends up being the correct answer. This idea is very silly, and it probably doesn’t work, but you sure won’t leave blank answers in this exam.  

tau281290 wrote:

I have this strange experience about questions you completely don’t understand, pick the option you’d think it is the least correct. And chances are it ends up being the correct answer. This idea is very silly, and it probably doesn’t work, but you sure won’t leave blank answers in this exam.  

Ditto here, especially in case of Ethics.
I’m like according to logic, this may not be answer so let’s tick this and it turns out to be right.