No, you must have been mistaken.
you know whatās really hilarious?
the writer of this article you posted complained about people getting so many tries to take teh CFA exam after failing many times. by his logic, someone who failed a level multiple times shouldnāt get an opportunity to take it anymore.
So by extension CFAilure, you should have been banned already, since you failed L2 seven times. Yes, Iāll agree with this point, maybe iāll wriet to paul smith and recommend the fail 5x permanent ban for CFA candidates.
OK, guys, itās time to reveal: I had a tough decision if I really need to post my letter here. The Analyst Forum is a really tough platform: it has been heavily moderated and self-moderated by the users; there are some sorts of content (like mine) that it is really hard to promote here.
My other options were LinkedIn or Facebook where, of cause, I go by my own name.
But I decided to follow the money: just to go where most of test providers are advertising heavily; so here I am.
I understand that my case is not easy to convey. We all guys would never send a letter to CFAI President if you passed; even if you were sure that something was wrong with the exam. You are selfish. I am just stating the present state of affairs, not blaming you.
You also play together like aā¦ swarm, letās say. You all like to bull the weak; that is the reason people like to post only the good news here. You see, most people are here when they are standing on good path. I mean ā when they they study and passed. Those who passed immediately feel themselves superior to the people who do not; the one who failed in most cases just disappears from the forum, you are supposed to pass or to claim you will return ā any other idea is supposed to be utterly inappropriate and treated accordingly.
I knew I am going to have a real hell in the comments (was to some extend happened to be true).
But on the other hand I knew that my letter will be read by much more people than those who will say in the thread.
Most of you did not really bother to read what I said.
I revealed I am here from 2005 and I was ridiculed for the number of fails.
I did not post my result matrix and people just decided I did not study enough.
I told about the problem of the Program and you guys decided that I am a sore loser who came to whine about his bad fate.
Even the last comments of most advanced AF people show that you think that I am complaining about my fail this year.
So: a moron, rude whiner who dares to send his ramblings to CFAI President. Not a good company to join. Yeah.
So before we get apart let me tell you my story. Let us decide that I am telling it once and do not return here. Just logging off and cleaning the browser cookies that remember my password.
I came to the Program just while chasing some sort of stupid dream. That dream turned to be totally unrealistic and of cause it is not the fault of CFAI and surely not yours. I hit the books (back to 2005 it was not a curriculum of today but merely books where you were supposed to read one or two chapters ā S2000magician put it right). I sit for the exam ā and failed. That was of cause totally my fault, let me tell it on the record. I reopened the books and passed, putting in some more time.
I registered for Level 2 and for the first year I studied exactly like I studied for Level 1. Studied and failed, my total fault, only mine, let me say it once again on the record.
After the failure number 2 on Level 2 I started to read continuously the AF. I did not post (just really afraid of being treated like I was treated today and called for female masturbation, as Would You Look suggested for me). I really was afraid and ashamed to post here, but you knowā¦ I started to read. Back that days I was a junior BS FI Analyst, and I worked as a mull. 12 hours a day, 14 hours a day ā you name it. I read on AF people who apparently worked more hours than me and still passed without any problem. Year after year after year I did what I did in the previous year and was expecting for better result. I instantly switched between CFAI books and prep providers and nothing helped.
By that time I already was not an Analyst (but still a banker on RM side) but I studied and studied and studiedā¦
To some point I started to use Toggl.com (sorry for the promotion, they do not pay me for that). I started registering every single minute of study. I approached candidates from different countries. I made some reading sessions on video link. The result? It is really impossible to read the curriculum and do the EOC in 200 hours (that was the time disclosure on CFAI website that days). I was looking for some sorts of review (did not read the books and did EOC and BB questions only) but that all was for nothing.
Just a momentā¦ Did you read up to here any blaming of CFA, bad fate or the ghosts? Didnāt you? So let me just continue.
I was in a kind of trap and again the fault is mine and only mine. By 2010 I really did not need to pass for my career. But I just could not quit. After all I did ā to quit??? No way! I was determited to get the Charter and to show it to my kids.
As time flied I understood that there are 2 kinds of people in the world: the guys who are my former trade partners and customers who need a 3 minutes to read a page and some immortals who can nail the material without opening the books. At all. The immortals were reported to be on AF. Just kidding.
But to that point of time I just understood that there is some reallyā¦how would you put itā¦ It is like everyone knows something but do not dare to discuss it. By that time (and I know that will make you lough out loud) some people (not thousand and not hundreds) approached me with questions like āhow can we put 600 hours and pass without quitting the job, family split and moving to an idle island?
That was the first time I wrote to CFAI. That was really whining letter and I really ashamed for it. Mr Smith, if you read on my file that letter from 2013 ā please forgive me. That was an utterly stupidity to send to CFA āhow can I fail after that all doneā letter. I feel sorry. They did not respond me and that was a right thing to do. But perhaps not. If they would send me a kind of letter Mr. Smith sent this year perhaps all the story would not plaid out.
In 2014 I went for real. I actually put in front of CFAI all the arguments I put here, Paul Smith wrote that that was not the first time I express the disagreement ā the first time was the last year. They sent me a kind of copy and paste reply with no new information, like I was supposed to swallow everything they will give to me. I replied, on every phrase I put my own comments in colors and with external links. That did not impress them.
My case was and still is simple: make exam tough, but disclose as much relevant information as it possible.
Like gonna make exam for 800 hours of preparation ā great, but disclose it.
Wanna make curriculum tougher and tougher each year ā just disclose it, like if a college in Siberia (sorry) puts on its website curriculum for several years ā why CFAI would not?
Would you have Charterholders from different levels of difficulty ā disclose it.
Just a momentā¦ Who I am to ask CFAI President? One of many, and especially unsuccessful candidate? Just who me to stand in front of him? Actually ā I am not the best guy to promote that agenda, but there is nobody else who is ready. Soā¦ So I asked myself: if before I entered the L2 preparation on the 3rd time, would I need to know the average study hours spent by successful candidates? Surely.
Would I like to know what is percent of retakers out of 100% candidates sitting on L2 that year? For sure. Should that help me to make a decision to put in 270 hours if I knew that on average it takes as much as twice to pass?Yes.
yeah itās looking that way, also quick PSA for everybody out there, if you donāt have the ability to state a position, and need people to give you every benefit of the doubt with your writing and reasoning, you will have a very hard time with a timed written exam (like level 3)
also, CFAilure, read this and see how you feel: http://www.cracked.com/blog/6-harsh-truths-that-will-make-you-better-person/ I donāt know if you are haut messing with us but read this if your not.
Actually I thought about all this likeā¦ like I know how many people are struggling years and years on every Level. I know that some of them came from inadequate background. Some Have no time to study (but think they have since they can study at lunchtime and while commuting in public transport).
Yeeeees. Yes. I do care of some people, guys. I know you do not, but please leave me that naivete. I the spring I was tearing my ass studying (that was not enough, as it plaid out). After the exam I kept silence. Why? You are always in disadvantage when you complain on exam after you fail (tell it to me).
But when I opened the results and saw the asterics (*) on the left side, I understood I am done. I knew the answers. I 300% sure my answer was not read since I do not write in capital letters, my handwriting is not superior and my written presenting skills in English are not so good.
I understand that itās great to help people when you have a success track record, but at some point it is too late to wait for the success.
So I send the letter which was considered āruedā ā why? Since I dare to question if CFAI follows its own values? Is that rued? Since I do expect more transparency? Is that the reason āto show me my placeā? I do not agree at all.
I know lots of people read the thread. They read Paul Smithās reply which speaks for itself. So I am satisfied.
I want more struggling candidates to read this andā¦ or, pardon me. I just see the other part of the phrase is deleted in your comments and replaced with BLAH_BLAH_BLAH and other mockery.
So I accomplished what I wanted.
And I would like to make a thank-you-note.
Thank you, CFAI. I studied business in two schools in my life and I must witness that your Curriculum is unbeatable. There is nothing more to wish for a person who wants to read alone and understand some concepts. The facts are up-to-date and material really reflects what is done in real life (at least in derivatives and risk management). It is not mistake-proof, I myself used to report of many but 99.95% is totally facinating.
Thank you, Mr. Paul Smith. I did not expect you will reply me at all, to be honest. While I told you did not give any news, at least you restrained from copying reply from the CFAI website and I sincerely thank you for the respect. While you got angry (as it seems to me) and refused to discuss some of the points, you did it in the way the reader can understand what is meant.
Thanks to you, guys. While you tried to be punitive and mute me with your remarks, you substantially promoted my case. Thanks for the advertisement which in other case would cost me lots of money.
Thank to SMM people on the forum. Many mishaps, but you were gentlemen to some degree. Donāt be regret, youāll do it right the next time with the next rebel.
For sure - thanks to those who had a nerve to agree with me.
And thank you people from all over the world who read it and understood they are not alone.
Whatās about me? Well, after that session there is no chance for me to became a Charterholder, I suppose. CFAI is having me on its record. But I do not regret, really. I spent lots of years for nothing, but got acquainted with great people and learned a lot about the finance.
Nowā¦ now you can focus on something more successful than a rude moron-whiner. I love you guys. Take care.
Ron Swanson ā the link is great. I loved it.
Great link. Unfortunately it seems that only people who already know this will appreciate it.
Are you trying to match the OPās level of rude self-absorption?
Murca F Yeah.
ITERACOM
Why should it be rude? For instance, it is a fact that it is more difficult to enforce exam rules in certain parts of the world where cheating is expected behavior. There have been other posts dealing with this subject over the years; my sentiment is hardly news.
And if America was lacking in standards adherence with regard to these matters, youād better believe that I would be pounding the table that the standards should converge to the bellwether country, lest the quality of my credential get diluted by a bunch of whiners who just donāt have what it takes to pass a test.
CFAilure. Iām sorry to hear of your plight.
Forget this exam, get on with your life and maybe come back to it in a few years. But donāt waste another moment on CFAā¦itās not worth your time or immense amount of efforts.