i don't understand how I failed.

CFA Level III
#1

This is the 2nd time I failed level 3. This time worse than the last. But this time I read every section of book, did every eoc question multiple times. I made my own notes, posted formulas all over my car and even made MP3 recordings of what I thought were the most challenging sections and listened to them while I worked out. I didn’t watch any TV, didn’t go out, I lived and breathed CFA material for 6 months. I still can’t believe it. I finished every question in the AM and finished PM with time to spare. I had never been more confident of anything in my life.

but the results say I got a band 4. Band 4? are you kidding me? It wasn’t even close. How could I not of been close? What a waste of time I can never get back. I feel for anyone else who is processing failure, but for me I don’t know what I could of done differently to pass.

Thats the hardest part.

#2

sorry to hear this man. you caught a tough break. Take some time off and reassess.

Did you do a lot sample exams? I firmly believe thats the key.

#3
#4

Lets put it this way i dont know how i got < 50 percent for 4 questions in my am. The best tip i have for u is to kill the pm. Ie 70 percent for all.

#5

maybe next year all I do is practice tests under time constraints, I don’t know. Maybe I take mock exams while I have to take a piss.

#6

I don’t even know what to say or comment, but I will tell you my experience:

I failed last year and passed on my second attempt. My strategy for the second time: DO NOT READ ANYTHING! I found out that reading a lot just overloads my brain and I can’t memorize most of them. Therefore, I used only Schweser video lectures in order to go through the materials. I knew the topics anyway, so, video lectures were enough for me.

I intensily used the Schweser Qbank, practice exams and CFA mock exams. Solving a lot of questions helped me: Reading material made me understand the topic and solving questions helped me memorize the concepts. I can’t memorize concepts just by reading, it doesn’t work for me. After finishing each reading of Schweser videos, I solved all Qbank questions relevant with that reading.

During the last two month, only the practice exams. I had schweser exams+previous cfa exams posted on their website+cfa mock exam+schweser mock exam+cfa practice exam (2 exams 40$ each).

#7

I am sorry to hear that! it looks like you have done more than what you should to pass the exam. in your case and since you are very confident about passing i would recommend that you submit a regrading request it will cost you about $100 but i think its definitely worth it in your case

Good luck

#8

I agree with lord of war… reading is a waste of time

#9

biggchinnn , I did it 3 times and passed this time . You are close

#10

Is a band 4 close? Is 1 the highest band or 10?

#11

You are trying too much to memorize. You need to focus on learning the material in depth, and conceptually. That can only come from reading and rereading. Btw, focusing on formulas is not going to help you. I didn’t try to memorize a single formula…

#12
#13

Good to hear your Janakisri…I am very glad you passed.

Failed band 10 and I would be kidding if I say I didnt expect this when the result % was 49!

#14

I was band 10 in 2011 and band 7 in 2012 . trendwise I should have been band 3 or 4. Never give up. You can crush it next time.

And in the AM don’t think , just write the first ( and only ) thing that comes to mind, and be quick about it . and above all move on .

#15

Just cause you are Band 4 doesn’t mean you were that far off.

Remember, in Level 3 the bands are much tighter because the competition is much better. So you might have been a couple questions from Band 6 or 7.

#16

I sincerely feel for you! >_<

often times we can’t process our failures because we cannot accept an obstacle so large that even with all our efforts we cannot overcome.

But that’s life.

for you, L3 is the obstacle, for others, it could be the L2 exam, the GMAT, the LSAT, the bar exam, getting into med school, breaking into finance…

Life plays some cruel tricks sometimes, but like i said in other threads, it’s not the end of the world! when i feel down and defeated, i ask myself “would i rather fail this or diagnosed with cancer?”

I assume you don’t have cancer, and you are probably better off than some.

Try to stay positive!

best of luck in every other endeavours~

NANA

#17

For some, it’s tying shoelaces.

Lots of people don’t have cancer, but, for various reasons, cannot even tie their own shoelaces. There is a lot for which to be thankful, not merely avoiding a (near-term) death sentence.

#18

you had time to spare for each AM / PM question and only got a band 4???

most candidates find it hard to complete the AM section…

and there weren’t that many trick questions in the exam…

there must be some problems with you answering/solving the questions…

you should do more past exams and practice exams to find out where the problem is…

good luck

#19

If this is your second time failing, then after your first time failing, you should have been able to see the AM section answers posted. CFAI posts the actual prior year’s AM and answer key.

Did you look it over and see where you were different? or did you forget all your answers by the time they were posted.

#20

I dont even feel nearly close to qualified to be giving advice but i failed band 4 last year and had an ugly pass this year. Only thing i did different is that since i had read and reread and done most of the questions i could get my hands on last year, i didnt have to start from scratch this year. I honestly skimmed thru the material and spent the last 2 ~ 2.5 months doing straight questions. You’re in the same boat. Get your hands on past exams (they’re out there if you look), do all schweser mocks, and towards the end focus on those damned blue boxes and EOC answers i.e. why they are right. This way you build some serious mental stamina, so that even if you dont know the answer your practice will force you to reason out an answer, and most times you will be surprised that your reasoning is right - why ? because you’ve seen this all before. Good luck