Again, is this the Level 1 forum or the Level 3 forum? I thought we were past this kind of stuff by the time we got to Level 3.
I kinda expect Level 1-er’s to be party-boy, frat-guys who have never taken an exam (outside of their finals). I expect a lot of Level 2-er’s to be people who didn’t understand how much time and devotion was necessary to pass the Level 2 exam. But by the time you get to Level 3, you should know what’s expected of you, how to prepare, and how much time to dedicate to it. And if you can’t commit to it, then don’t register.
But anyway, let me get this straight–you aren’t married, I presume you have no kids, don’t have the headaches of owning a home, only work 40 hours a week, have five months to prepare, and can’t find 2 hours a day to study?
It might be different if a person had covered all the material, and was just venting about the volume of material. But if you haven’t even cracked the books, and you’re already pouting, then maybe you just need to hang it up and realize that Level 2 was your limit.
Level 2 is harder than Level 3 in terms of content so I disagree with the statement that Level 2 may be your limit. Anxiety is not controversial but there is still enough time left i think…having a job,being married soon are positive news in my opinion…so try to derive some motivation from these things somehow…
I disagree with your disagreement. I do believe that the material in Level 2 is harder, but I believe that the test at Level 3 is harder, due mainly to the essay format. (Having to actively recall the material is more difficult than picking one of three answers.)
Nonetheless, I’m MORE motivated for Level 3. Don’t misunderstand me–being in the third year of the exam really blows, but this is the last hurrah for me. I’m getting promoted, so my job is getting harder, and I’ll be here more hours. Plus my wife is pregnant with our second child. I can’t go through this again. So I’ve already put in about 200 hours, and plan on putting in another 200-300. If I can’t pass the exam with 400-500 hours of preparation, then there’s no reason to believe I can do it next year or the year after that.
I’m either going to do it this year, or I won’t do it at all. That’s what prompted me to start in September and wake up at 4:30 on Saturday and Sunday, and study from 5:00 until 11:00. That’s why I study three nights a week from 5:30 until 9:30. I refuse to take any more exams again. And if I do fail, it certainly won’t be from a lack of studying.
I guess I just don’t understand people who don’t have the same “get 'er dun” attitude. But whatever. That’s why half of us will fail Level 3 this year.
I know some of the guys in here are just bashing you saying that this is level 3 and we shouldn’t be doing that.
I feel your pain. I work over 8 hrs a day, have a new born and have millions of other commitments that I need to look out for also.
Starting is half the work. If you started at all just keep going. I’m sure you realized during the past two levels it always feels like the material is too much, or impossible to fully digest but you passed throught the first two.
I feel the same way as you, but I know that I just need to f*king power through it and see. WORST CASE you take it again in 2014 and by then you can do half the studying this year and still be ahead of many first timers.
I think the worst thing to do is be so stressed out that you don’t know what to focus on. Take it one at a time, and if things get tough another option is taking classes to help you along. That’s what I’m planning on doing because I KNOW I can’t study all by myself at home with a baby crying every few hours.
CFA exams are really easy. The hard part is balancing CFA with your real life. Of course, everyone who takes the exam goes through the crap mentioned above. So I guess… just suck it up.
After reading this thread I registered for L3 (retaker). Time to man up and get focused. Actually feels good (in a masochistic sort of way) to officially climb back onboard the CFA train for another ride. I hope I can finally get off at the last stop this time around.
grow a set of balls wont you. I worked 100 hours a week ( Corporate Finance in an Investment Bank) and still pass the exams. The greatest tip that I can give you? Sleep less. I slept on average 4.5 hours during the last 3 months of the exam. Yes it was a fucking torture and I will not go through all over it again but please, stop being a cry baby and man up.
People whom say level II is harder are normally people whom involves in portfolio investments.
That I would NOT recommend. Sleep is one of key factors (very often underestimated…) that can decide whether you pass of fail the exam. Extreme lack of sleep (and 4 h a day can with no doubt be called ‘extreme’) for several months can not only be harmful to your health, but most of all will make you much much less effective in absorbing and retaining knowledge. In other words, the time you ‘save’ on cutting your sleep is to be wasted while you will read the same material e.g. twice (or thrice) instead of once trying to comprehend and remember. Another story is your physical condition which is to get worse for sure (so for almost half a year you will not only have less exercise and healthy, regular meals, more stress and exertion, but also you will kick your own balls by damaging regeneration potential of your organism). In consequence you will become less immune and ‘catch’ infections - now imagine you are to memorize e.g. formulas for derivatives while being sick and dying from sore throat or fever.
Having said that, advising someone to sleep 4 or 4.5 h / day is very unwise (and even more unwise is to listen to such advices). Not to mention everyone has a different need for sleep, for one person 6 hours is enough, while for another 8 is optimal.
I agree with cirkon. I was diagnosed with sleep apnea a few years ago, and I was put on a machine to help me sleep better. You have no idea how important sleep is until you go without it, then get plenty of it.
However, to add to cirkon’s point–it’s not just the quantity of sleep. Quality of sleep is just as important as quantity. In my opinion, it’s more important. Now that I sleep on a Tempur-pedic mattress and have a CPAP machine, I can get away with only 5-6 hours per night.
