I still cannot get over the fact this will be the 6th time I am taking a CFA exam. I have failed each of the CFA Levels one time. Before all this I used to think I was pretty smart, I graduated with Highest Honors from my University (top 3% of the class), majoring in Finance. Now I just feel like I am the office idiot. Oh well, here is to #6
The good news is that assuming the trend continues, this will be it!
What it tells me is that CFA is not for smart people…
AFJ, here’s something you already know: Not passing a CFA exam certainly does not imply you’re not smart. While its true that to pass one has to be hard-working and reasonably smart. All those who don’t pass are not necessarily idiots. The fact that you passed the first two exams implies that you have the smarts and are ready to put in the effort. Just have to get the optimum combination right one more time. Good luck! Magix, CFA
AFJ, No worries, my friend. This also my 6th CFA exam. cheers to this being our last!!!
Wow, I wish you both luck, it most be frustrating but at the same time the satisfaction of receiving the charter will be that much greater right?!! I squeaked by LI and LII even more first time through, and I’m committed to put in 50+ more quality hrs this year to hopefully finish this thing along with you guys. I’m curious though, what is the longest time period (most fails) that you guys have heard of of someone receiving their charter?
I know a guy who is on his 8th session, maybe 9th. I think what you will find regarding the number of time ppl take exams is sqewed because a lot of people just quit after 1 or 2 fails. I know SO many people who just stop pursuing the charter if they fail the same exam twice. So there is a bit of survivorship bias in all of this. You gotta be in it to win it right??? I guess i should consider myself lucky I only fail each level once.
AFJunkie Wrote: ------------------------------------------------------- > I know a guy who is on his 8th session, maybe 9th. > I think what you will find regarding the number of > time ppl take exams is sqewed because a lot of > people just quit after 1 or 2 fails. I know SO > many people who just stop pursuing the charter if > they fail the same exam twice. So there is a bit > of survivorship bias in all of this. You gotta be > in it to win it right??? > > I guess i should consider myself lucky I only fail > each level once. hey dont worry, I failed last year and doing the second time. Nothing to do with smartness. You have to read all the materials and remember it. Morning session, we need more practice. So donot think you are not smart.
what do you attribute to failing each level? coming out of college in top 3%, you have to be a rather intelligent guy. did you earn your grades through effort or by raw intelligence and minimal effort? i would bet that you’re one of those smart people who are smart due to dedication and effort, yet didn’t have the time to study the cfa material adequately upon first attempt and come the second attempt, you are well versed in the content… am i right? if so, you are bizarro-MLA and the cfa course is not suited to your style of learning, unless you’re jobless and have all the time in the world to prepare. your kryptonite is time, whereas my kryptonite is lack of motivation/ambition.
I usual overcome academic obstacles with brute force. I don’t think I am naturally very intelligent, but extremely tenacious in my approach. CRAZIEST thing was that I knew the material backwards and forwards, I put in a ton of effort. I took all 6 Schweser exams, all the CFAI practice and previous CFAI essay exams and the Boston CFA exam. I passed all multiple choice sections in the 70-80% range and thought i did well in the essays…then I failed the real thing, band 9. I actually did much better on the essays than the multiple choice on the actual exam. Every time I fail its by a hair. I think I am cursed.
This will be number 7 for me. It took me 4 effing times to pass level 2. Plus it took me several times to pass the CPA exam. You would think that I would stop doing things (like taking professional designation exams) that I am obviously horrible at. Oh well, one and out at level 3. That is my goal.
I actually think you guys are a lot better off than those that pass 3/3. The reason is that to me (and I’m a L3 re-taker) if I were to look at somebody who took more than 3 attempts to pass this series of exams, it shows a tremendous amount of dedication and perseverance. I know several people who called it a day after failing L1 or L2 - not to knock these folks, but it says a lot I think to a prospective employer that you have someone who sets a goal and tries many times over to achieve it as opposed to just giving up. My 0.02
6th time for me as well!
so you are saying re-takers shows more dedication and perseverance, and hence a better candidiate for top-tier jobs than guys who went 3/3 ? dpak Wrote: ------------------------------------------------------- > I actually think you guys are a lot better off > than those that pass 3/3. > > The reason is that to me (and I’m a L3 re-taker) > if I were to look at somebody who took more than 3 > attempts to pass this series of exams, it shows a > tremendous amount of dedication and perseverance.
To quote Kipling: If you can dream - and not make dreams your master; If you can think - and not make thoughts your aim; If you can meet with Triumph and Disaster And treat those two impostors just the same; … You’ll be a man my son! It’s a pretty important test, but it’s just a test. Don’t let either failure or passing get to your head so much. Good luck to all of us!
^ well said.
^ indeed =)
goes to eleven Wrote: ------------------------------------------------------- > This will be number 7 for me. It took me 4 effing > times to pass level 2. Plus it took me several > times to pass the CPA exam. You would think that > I would stop doing things (like taking > professional designation exams) that I am > obviously horrible at. > > Oh well, one and out at level 3. That is my goal. Ditto! Wedding and births around exam time did not mix well.
AFJunkie Wrote: ------------------------------------------------------- > I usual overcome academic obstacles with brute > force. I don’t think I am naturally very > intelligent, but extremely tenacious in my > approach. CRAZIEST thing was that I knew the > material backwards and forwards, I put in a ton of > effort. I took all 6 Schweser exams, all the CFAI > practice and previous CFAI essay exams and the > Boston CFA exam. I passed all multiple choice > sections in the 70-80% range and thought i did > well in the essays…then I failed the real > thing, band 9. I actually did much better on the > essays than the multiple choice on the actual > exam. Every time I fail its by a hair. I think I > am cursed. How are you going to study differently this time around? I was thinking about simply over-preparing too and then spend a few weeks working on essays.
Me too. Although I have 2 passes and three no shows.