In my first post on this forum I want to share with you my feedback about taking CFA exams:
I don’t want to scare you but I want remember you that CFA level 1 exam is very difficult and only for serious people.
Last year I failed CFA level 1 with 7 subjects over 70%, and only derivatives, Alternatives Investments and Portfolio management under 50%. I was not even Band 10, I was Band 9.
This examination is only for people that are able to devote time, smart and methodical. If you have issues with one of the characteristics cited, taking the CFA exam is a waste of time.
Third party providers are bullshit and only the curriculum can lead you to success.
Idk how it happened but I actually had 19 bubbles to fill in for Ethics whenever I had all other subjects <50. I literally came up with my own question, answered it correctly, which gave me 100% also but with a little extra weighting to pass. Just a really good feeling.
Mostly agree. After all, why would a condensed, usually poorly explained, version of the actual curriculum give you better insight to what the exam makers want than, say, the actual curriculum?
I wouldn’t say only, but I’ve noticed fewer people fail given that they used the curriculum compared with a third party. I have no hard data to back that up, unfortunately.
How did that happen? I don’t understand. Unless you scored really badly in those 3 < 50%, and one of them was Ethics. I have seen people passing L1 with 2 failed topics, a couple > 70% and the remainings 50-70.
Third party providers are not bullsh!t. However it is also down to each individual. From my experience, schwesers is more than enough for passing level 1. I only touched the curriculum when schwesers is not so clear, which was also very rare. The most important part is question practice. Instead of spending too much time on reading the curriculum, you can use third party providers, and do loads of questions practice.
You don’t need to be a smart person to pass L1. But you need to study. L1 is not difficult, but it is so broad. L2 has a very sharp focus.