I found level 3 the hardest and I wrote the exam 3 times before I passed. This exam was the hardest but the most rewarding.
What’s everyone’s attempt?
First attempt, and God willing, last attempt…
So on that note…back to the grind…
I wouldnt say one exam was harder or easier than the others. They were all challenging. L2’s financial statement analysis was harder than L1 as was derivatives…but I wouldnt say I studied less for L1 or felt I could have. L3 essays (IPS) was tough…as was currency derivatives and sh*t like that.
3/3…studied for each as if it was the toughest exam I’d take without regard to whether people said it was harder or easier than the last one.
First attempt here…and hopefully last. Job has been more intense lately so less time to study. Still plan on being done with my ‘first pass’ of all CFAI materials by March 1. We’ll see.
I would say Level 3 is the hardest to study for. Not the hardest in materials. The exam (written part) deviates quite a bit from year to year since the AM questions are so random.
Level-I seemed hard when I first cracked the book, level-II seemed hard as well when I cracked the book.
What’s common about the trend above? CFA.
I’m making the first attempt for L3. Let’s try our best to make it the last!
The breadth of knowledge you’re expected to tackle/understand/master for Level II is the “hardest”.
But at the end of the day, despite the somewhat “interesting” nature in reading material of the final level, I think Level III was – without question – the hardest of 'em all.
2
Failed Band 10 in 2014. On my second attempt (2015).
So very true. I especially find it seems hard on the first pass when you’re still trying to piece everything together (which is where I’m at right now). By the end, at least on L1 and L2, all the material seemed to gel and I went in feeling confident for both. Hopefully a similar experience and result for L3.
^Harder than you first thought at L1, huh?
You starting to realize that failing L1 twice doesn’t bode well for those who survive to L2 or 3?
Interesting how everyone tells you level 2 is the hardest when you start the CFA…its like a no brainer…then you pass it and you’re basically asked to believe level 3 is actually the hardest…
#psychologicalbias
Failed L3 band 10 in 2013 and passed in 2014. Didnt fail L1 and L2, though I couldnt write the L2 exam once because of personal issues.
L3 was the only level I passed first try. Have hope. That said, it was the hardest.
Geo makes a good point, pass or fail is not just about the difficulty of the exam.
I’d have to guess how many times I sat L1 but it was more than 4, although twice I just didn’t bother to turn up. I failed Level 2 once and passed Level 3 first time a month after some very difficult personal issues.
How likely you are to pass first time is a function of the difficulty of the exam, L1 is the easiest, your personal circumstances, how many hours you work, and finally your own determination to do what has to be done.
The last one is the only one you have any cahnce of controlling right now, so I hope you all manage to cross the line in June.
Good luck
Not really. The point was that all the levels seem hard at first until you really dive into it and study your ass off. I’ve said this before, and I know not many others agree, but I felt better leaving the test room after L2 than after L1. I personally didn’t fail either one but just because someone does fail L1 or L2, it doesn’t mean they can’t rally and still get their charter.
That said, I do think there are some that don’t have the intelligence to obtain the charter. There is a cliche saying that ‘anyone can get it if you work hard enough’ and I don’t agree with that. Anyway, my point was simply that L3 seems hard at this point in my studies, but so did L1 and L2 at this early point.
Wait till you write the exam and make a comment. General comment is that materials for all 3 levels are hard or similar but it’s the formt that kills you in level 3.
That seems to be the consensus. I’ve read from many posters that scoring >70 is so difficult on the morning session that you just have to try to cut your losses there and make up for it by killing it in the afternoon session. Definitely will be challenging.
I have to say Level 3 was the hardest, due to the formatting. And definitely more stressful due to said formatting as well…