Band 6 in 2016, passed in 2017, what did I do differently

CFA Level III
#1

I know how frustrated it was when I failed in 2016 and not sure what else I can/should do to improve myself.

Luckily, there is a digital help (Analyst Forum) as well as Analog help (friends who passed and did not pass), so I started collecting information and integrated them into my own plan for my 2017 exam.

First of all, I would recommend you to register for 2018 exam. This is where the committment starts.

Here is what I did to improve myself and was lucky enough to passed in 2017:

  • materials
    • based mainly on CFAI curriculum
    • using FinQuiz as a summary note << it is basically a summary version of CFAI curriculum
    • made own notes on difficult and informative topics << can skip FinQuiz, if you can make notes for all topics, I just don’t have the time
    • used Schweser as a support on the more difficult topics
  • exercise
    • did BB x2
    • did EOC x2
    • did AM mocks back to 2009 by year
    • did AM mocks back to 2009 by topic << super important !!
    • practiced writing 3 hours with time pressure
    • did a couple PM mocks << just to be familiar with the format
  • memory is king
    • memorize all behavioral bias (description, symptoms, consequences, how to correct)
    • many topics have lots of advantages and disadvantages, memorize all
    • long calculations e.g., effective interest rate, immunization, derivatives, …
    • review your notes at least 3 - 4 times, this will help stamping it into your brain
  • on exam day
    • DO NOT skim through the AM papers, it will make your brain explode, start one by one
    • start AM by skipping question 1
    • for AM topics like individual and institute, circle (e.g. CF, investable asset, RR, LLTTU) while reading the story
    • start PM by skipping Ethics << though I got > 70%, as a non-English speaking, I find it time consuming

These are the things that somehow got me through level 3. Hope this helps.

Good luck 2018 candidates !!

#2

Thanks for sharing zekeseven.

Why skip AM q1?

#3

I personally found it’s either a super long one or a relatively tricky.

So to avoid falling into the trap, I skipped the 1st question. It does not hurt, why the risk.

#4

Nice strategy.

#5

It’s something that i had noticed and pondered upon too during the prep. At one point i was going to go in reverse order as that was more suitable in terms of me getting points. However, i did AM sequentially in the exam and ended up with <50 on q1 AM (it was a real special one this year). And i again got my most points from q6-10. It’s definitely a TELL and for candidates to ponder upon

#6

I would recommend skipping to questions you are more familiar with first. It gives you some momentum for the remainder of the exam. But take this advice with a grain of salt, as I was <50% on 4 sections.

#7

Band 4 2016 and passed 2017. Glad its over. Zekeseven perfectly agree with you. There is no substitute for CFAI material. Do lots of mock and past exam in strict time guides. If you don’t do well in AM. Forget. No partial credit in PM so chances are you will drop all the 3 points.

#8

congrats mate, we learned the hard way

#9

it worked for me, hope this helps