CFAilure:
Get a time machine and go back to 2006: 80% pass rate! Even the magician can’t claim that the 2006 class was that much smarter and more dedicated than the later classes, which then dropped more reasonably into the 50% pass rate. No one has yet explained how the 2006 class managed this miracle.
I can claim anything I bloody well please.
Doesn’t mean it’s true, mind you.
Four sigma events occur; they don’t need any special explanation.
It is so simple: no time frame to finish the exam + pumping up the amount of pages = more returning candidates. More returning candidates = more fees fo cfai. It is all about making everyone in the market to know that long time charterholder took it for almost no effort. I remember back in 2007 when I had a chat with a charterholder who came to my employer to promote a fund he was working for. That funny guy on some point started to preach me on the persistance and effort and value of the charter… But it comes out that in 2002 he studied one hour a day and passed. I showed him the 2007 curriculum and he was in total shock… By the way, cfa still call STUDY SESSIONS. Sessions, Carl !! Is session is supposed to include everyday study for 3 weeks? Or it just reflects the fact that lonce that was really study session… a portion of material for a weekend?
Perhaps you can offer some good explanation for that 80% pass rate?
Itera and magnician - i cannot pass level 3 on 2015 curriculum. Can you pass level 1 on 2016 curriculum, what do you think?
With appropriate study, yes.
I suspect that my study would be a lot less than average, as I teach this material every 6 months.
Of course I can’t.
Random stuff happens; there doesn’t have to be a good explanation for it.
Accepted. But one obhection: a typical 1997 passer does not teach the curriculum. Why he is supposed to have ‘achievement’ and one who failed level 1 (which is today tougher then all 1997 levels altogether in my opinion) - achieved nothing? The answer ‘that’s the way it is’ is not good here. Believe me, the question ‘when did you got the charter’ to evaluate if it is a disignition or ‘right boys club’ is not so uncommon in the market…
That reminds me one of Mr Madoff remarks before his ponzi was revealed - he also liked to talk about luck and sigmas and probability… as long as those ‘probabilities’ plaied on his side. I claim you originalky got charter for a fraction of efforts that needed for it today. You could disagree.
Ok… let’s wait before ‘sarcastic’ itera will come and other guys who passed this year and attribute it to their ability… let’s wait for them to come and make here a branch of h***…
You don’t have the right to object to my answer: you asked me if I could pass the exam.
If you had want to know if a typical candidate who passed the Level I exam in 1997 could pass today, you should have asked that.
Apart from that, the rest of your commentary is, frankly, sour grapes.
If you’d earned a Master’s degree in Mathematics in, say, 1960, is it no longer valid simply because you didn’t have to have classes in algebraic topoligy and numerical analysis which would be considered standard for someone earning a Master’s degree in, say, 2000?
Such a suggestion would be ridiculed for its stupidity; rightly so.
You sent your missive to CFA Institute, and it was answered. You need to quit whining about this and move on.
If you’re likening me to Bernie Madoff, you’re way out of bounds here; I deserve an apology for that repugnant analogy.
I honestly couldn’t care less about what you claim. You have no idea about the efforts that successful candidates put into their studying in 1997 – 1999.
Will reply in an hour, sorry
Sir,
I never linkeded you to Mr Madoff or suggested you are involved in any wrongdoing.If you think so, I am to appoligise most sencerely.
I just paid attention that you are using the same sophistical logic: “if something happened and that was too good to be true I am not going to explain it”.
Anyway.
I am not going to procede these swordplay further. Personally I deeply disrepct you basing on your mockery remark on page 1o, but this perhaps is not of your interest.
In any way, I would like to promote some truth about the CFA Program and as it seems to me the more information will be available, the less candidates CFAI would have and as result of it - you’ll have less students to teach. If you are going to call that “whining” - go on.
Nothing I wrote on p. 10 involved mockery.
So how could you please describe your remark?
Anyway.
I am not going to go into that with you.
Say what you say.
I’m not sure what you want here.
You ask me a question, then, essentially, tell me not to answer it.
Weird.
In any case, I simply asked you to summarize your position, distilling it into a few bullet points.
Oh man…this is getting tiresome.
CFAliure; you failed. You’re in the minority. Sorry. Move on with your life. Paul Smith was pretty nice in replying to your email but IMO there is no point in continuing to email him and expecting him to change the way the CFA is tested, communicated or how transparent they are post exams. If you need to pass this exam, then I would suggest you keep some friends on this forum and get some tips on how to answer the AM questions better…
Earlier i think MCQ had 4 options instead of 3 ? It made life tough
Ouch, I am not alone :)))
http://www.huffingtonpost.com/lewis-krell/the-cfa-is-a-scam_b_7490348.html