I know plenty of us failed, just trying to test interest…
Nice work! but im sure this aint gonna work
its a good idea having level II twice… hope they agree with it
Don’t do it. Once/if you become a CFA charter holder, you won’t want the designation to be any easier to achieve.
make it twice per year but harder versus leaving it once oer year at current difficulty? which would you prefer?
Yes, it’s a great idea. I would also petition to change the dates to first weekend in May and November.
To go a step further, I would petition all 3 parts to be given at an independent testing center in an 18-month window like the CPA is now administered (and drop the archaic paper-and-pencil format, which the CPA dropped 11 years ago!).
Actually, are there any professional certifications other than CFA that are still paper-and-pencil? I can only think of one, the Professional Engineers (PE) exam. It’s time for CFAI to wake up and move into the 21st century.
When they made the level one test twice a year in 2002, and down to 3 multiple choice options from 4 in 2009, the pass rate went DOWN both times. The Level II stuff is still pretty fresh in my head. However, come December, i fear I won’t remember much and will have to pretty much start from scratch.
I think L2 should be offered twice a year, with the rule that you cannot take two back-to-back tests. On one hand, more tests make the timing more flexible. On the other hand, we want to avoid people “spam” testing - that is, taking the test many times until you hit a high outlier score and pass through pure luck.
People can “spam test” for Level I why not for Level II? I flunked this band 9, but I fear that I will forget everything if I have to wait until June to test again. At least in December it gives me a better shot.
“People can spam test for L1” is not a good reason to allow spam testing for other levels…
And obviously L1 was designed so many people can get into the program. Revenue maximizing
While we are at it, lets petition for a CFA charter lottery. A bit like the Green Card lottery
I’m waiting for L3 results but I totally support this. I’d like to make 3 points.
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CFAI moved to biannual L1 exams when there were fewer L1 candidates than there are now L2 candidates.
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CFAI suggests that 300hrs of prep is ‘average’. If you are committed, you can do 300 hours in 3 months. Leaving 9 months to do what exactly?
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CFAI says ‘its too expensive for use to hold more than one exam per year’. If candidates are willing to pay so that CFAI can recover the associated costs then this argument put forward by CFAI is totally bogus. Where is this question (i.e. would you be willing to pay for the chance to take L2 / L3 in December?) on the post exam survey?
Send me the link!
I think its a great idea, Im waiting for my grades but im pretty sure im not gonna make it this time round. Would defineitley prefer taking the exam again in December with the core concepts still fresh in my head.
Well I honestly have no expertise in starting a petition, but if anyone does feel free to chime in.
An understandable reaction to the feeling that you may have to wait another 12 months.
However, setting these tests is not a trivial feat, and it likely is harder to do for level 2.
From the institute’s perspective, I don’t see how it benefits the charter process.
More revenue and lower pass rates, and the fact that the Bar, Med Boards, MCAT, CPA, actuarial exams are offered at least twice a year. Hell the Bar even let’s you condition, i.e. pass half, and then take just the half you didn’t pass 6 months later, and the CPA you only have to pass one of the 4 at a time.
I SUPPORT LEVEL 2, TWICE IN A YEAR. THIS IS GREAT A IDEA.
I think one of the issues here is the added cost of creating new item sets twice a year, as opposed to once a year. With L1, you can create a new question in 2 minutes. Also, all the questions in L1 are independent whereas in L2 they all refer back to the fact pattern.
The med boards, the bar, actuary exams, MCAT, all refer to fact patterns and are offered multiple times a year. That’s not a valid reason.