Had a coworker tell me today that I’ll be fine next week because he heard that level 3 is the easiest. I said, half the people that were smart enough and worked hard enough to pass level 2, fail level 3. Most of them surely put in the same hours as I have for level 3 (300+).
I’m tired of hearing people who haven’t passed any level tell me they heard level 3 was the easiest. I’ve thrown a lot of hours at it, and there is plenty I do not know.
I’m sure others on here are tired of hearing that same thing…
yup… i heard that 3 times the past week. it needs all my power to restrain me from yelling at the persons saying that. i actually feel more hopeless this time that in level 2. i feel the level of understanding of the material is higher in L3.
Yup, heard that a couple of times this week too. Grinding my teeth every time. Tired of repeating the same old “only 50%” explanation that doesn’t really help anyone get it anyway and that certainly doesn’t help make me feel any better.
I even had someone (who has never taken it) ask me “But isn’t the material more FUN at Level III?” I don’t know if that one ups the Series 7 line, but it sure upped my blood pressure.
If you “get” the essay section (ie: are pulling high 60’s/low 70’s in mocks), I think 2 > 3 > 1 in terms of difficulty. If you don’t “get” the essay section, 3 > 2 > 1. That said, you should still put more time into 3 than you did into 2. The folks taking 3 are motivated as shit.
Last year, one of my coworker (who passed level 1) told me that it’s useless to go to level 2 exam because it’s impossible to pass this level and I will waste my time. One of her friend, sat on level 2, and she told me he was smart and serious, worked for more than 400 and didn’t passed few years ago… So she dropped CFA Program and went to CAIA Program.
When she learnt I passed level 2, she told me that I will get level 3 easily because level 3 is too easy…
One of her friend, sat on level 2, and she told me he was smart and serious, worked for more than 400 and didn’t passed few years ago… So she dropped CFA Program and went to CAIA Program. < - - a mix of representativeness bias and hindsight with a sprinkle of confirmation on top (cognitive belief pers.)
look guys and girls, i know the exam is of utmost importance to u now, have been thru this last year. but do not neglect the other aspects of ur life, doing it once and passing is gd but do not over-emphasize its importance and significance.
the best tip i can give u for optimum performance on june 7 is this
pack all ur stuff early, put all in a bag. on exam day just take the bag and go. passport? admission ticket? pencil, pen, eraser, etc? calculator? maybe lunch as well and some sweets
learn to calm ur mind. i took the exam in SG and its a big exam hall. u r bound to see people relaxing and panicking side by side. do not be distracted, know what u can do and cannot do well, focus on urself. the battle is not amongst the candidates, its between YOU and the paper. there is no point cramming info now, all the cramming should be done before this day
AM paper - think fast, no bullshit or fluff _ answer to the point _, write faster. use common shortforms consistently. if you think u have more info than necessary to answer, choose the best points and write it down. elaborate if needed. DO NOT write 5 points for a 3 minute question, this is an exam where the examiners can see bullshit from a mile away. they ain’t going to play “5 choose correct 3” and award u the full points
during the break, do not to dwell over the misses in the AM paper. there is always the PM part to save your ass. revise if u must but rest well as there is another 3 hour exam ahead.
if u must stretch, close ur eyes and stretch. the main point is do not give an impression of looking around for answers. after my L3 last year, many a CFA investigation was carried out for cheating allegations, there is no point coming here to bitch after the exam, do what is expected of u there and then
no writing after the dude or girl in front calls time…u want to risk getting an extra point in for failing ur whole exam and getting banned?
just do things as it is before…being overly or underly excited will lead to unexpected errors…proceed as per norm…u guys have already done enough to get to this day.
The number of times that people have told me that level 3 is a walk in the park this year is incredible. This is in the face of evidence or numerous people in the company failing level 3 in the last 5-6 years, way more than have failed level 2. (Bilel, not updating probabilities when presented new information?)
a senior guy in a client role said to me a few months back that he doesn’t know what all the fuss is about as he has it (he has AIMR from decades ago) and it was very easy, he only cracked a book a month before the exam.
I work with a bunch of engineers who constantly compare what I’m studying for the them studying for the PE exam. They study for a month for that test and all of them have passed on their first try. They can’t believe how long I’ve been studying for one test. Drives me nuts.
I think level 3 will be easier than level 2. I went back and looked at my study notes for level 2 and there was a LOT of shit on there. I studied 500 hrs + for the time I failed level 2 and then again the same amount for the time I passed. I passed with flying colors after 1000 hours but it took 1000 hours to get through. I get the material for level 3 but I think it’s learning how to write in clear concise statements that’s the killer. If you can master that you will be okay for the exam (in my opinion).
Actually, now that I’ve passed, I always fuck with L2 and L3 candidates heads now. But only the ones I dont’ like.
Relax guys, they’re just trying to make small talk. You should really do a self assessment if you’re getting that worked up. Have some confidence in yourself.
