my confidence is pretty low right now.The next person who tells me “L3 is the easy level” or “L3 is easier than L2” gets a kick in the nuts
Some parts are very interesting and not hard to understand but other chapters are sooo boring. Probably those will be tested. I am actually quitting my job in the first week of april so I will have the whole day to study. Hopefully that will work.
But what is so difficult? Did you guys already do old exams? I went through Schweser EOC & CFAI EOC and those are definitly easier than L2… So many guys now telling L3 harder than L2. But is it really the material or more the fact, how the exam is hold (time-preasure, essay-format, etc.)?
I didn’t do old exams, I am planning to start looking at them in May. So you are saying they are easier and more straight fwd?
No, I just went through all EOC qs. I’m only trying to figure out why so many people say l3 is way harder…cause from EOC I would say its easier than l2…so my guess was old exams/ practise exams, which are maybe tough.
Well, content wise I find level 3 easier but I fear the exams where you have to show you understood everything and can link and apply all the subject.
Are you really being told that L3 is harder? I have yet to hear that. I hear that it is by far the easiest of the 3.
from what i hear l1 but less so with l2 are passable just by a quick read and practice questions, whereas l3 relies on actual understanding and so is not simply a comprehension test. ive just read 1chp so far but pretty sure getting though the 48 chps by early may should leave a good amount of time to practice and consolidate understandings of the material. good luck!
“Passable just by a quick read and practice questions”, yeah right. I wish I could be as smart of as you then. Good luck.
a ‘quick read’ of 350 hours 
mik82 Wrote: ------------------------------------------------------- > “Passable just by a quick read and practice > questions”, yeah right. I wish I could be as smart > of as you then. Good luck. He probably means “relatively speaking”.
it seems easier to me, I dont know which of Charlie Sheen’s crack pipes youre smoking?
Not really. I have gone through the EOC Q’s, examples and schweser readings. Finishing up on first pass of ethics tomorrow. Then probably hit GIPs until Friday. Then its time to hit the flashcards+notes and do a lot of practice Q’s and exams. Though, conceptually I think I get a lot of the curriculum, but I highly doubt I could put it in terms of what the CFAI is looking for… ughhh
cityboy Wrote: ------------------------------------------------------- > mik82 Wrote: > -------------------------------------------------- > ----- > > “Passable just by a quick read and practice > > questions”, yeah right. I wish I could be as > smart > > of as you then. Good luck. > > He probably means “relatively speaking”. yea i meant relatively - just a simple read through of the material still takes 100’s of hours! ive been warned by l3 passers that l3 is a different ball game and compared to l1 & l2 shouldnt be taken lightly… i hope you are right wake2000!
smileygladhands Wrote: ------------------------------------------------------- > my confidence is pretty low right now.The next > person who tells me “L3 is the easy level” or “L3 > is easier than L2” gets a kick in the nuts Preach on, brother. I’d also like the ability to tase whoever started that “post here when you’re done w/ first reading!” thread. As I’m just finishing reading 32 of 48, I don’t want to see that ish.
ssf if it is any confort to you retention is at a low…quick how do you do a 2 bond hedge…
set up two simultaneous equations, solve for the variables…
pimpineasy Wrote: ------------------------------------------------------- > ssf if it is any confort to you retention is at a > low…quick how do you do a 2 bond > hedge… my plan is to hide under some coats during the exam, and hope it all works out
Well, if you were to put everything in bullet points, L3 has less material than L2. The problem is that there is a lot of stupid intangible stuff in L3 - for instance, “What is client X’s risk tolerance - medium, low or high?”. Since the answer to this sort of question is not black and white, it’s hard to ever feel like you have mastered the material. And of course, you can’t make “educated guesses” in the morning session, so this tends to diminish your confidence a bit. From my experience, many people who pass L3 don’t do well in the morning session. However, given that L3 candidates are seasoned L1 and L2 multiple choice veterans, they tend to do well in the PM multiple choice part - at least well enough to offset the morning session. I would guess that my split was something like 65/85. You can search for a previous “L3 results” thread to see further illustrations of this split. But anyway, maybe it will help to remember that L3 has the highest pass rates of the three levels. So even if you are not feeling particularly confident today, your chances (assuming that you believe that you are a typical candidate) are better than they were in previous levels.
I’ve been reading these types of posts quite a bit and I want to clarify the situation. Please note this is only my opinion so take it with a grain of salt. This is my second time doing level 3 (passed level 1 and 2 no problem). Last year I was in the exact same boat as a lot of you are right now. I started studying around end of March / early April and found the material a breeze to go through. I did the exact same thing I did for level 1 and level 2 and I think I even worked harder at it than the first two. Then the exam came, and I kid you not I thought it was a lot easier than the first two levels. Then reality hit and I got my exam back. I did pretty well on the afternoon session (just like level 1 + 2), but the morning I did extremely poorly. If you look back and see the other people’s posts on this board, 8/10 people struggled as well on the morning part. The point I am trying to get at is that don’t even consider the results from above. Level 1 had a bunch of people who didn’t take it seriously. Then from those who took it seriously, you had level 2 which had smart people. Now on level 3 you have all really smart people who are writing the same exam. So in the end, even though the material seems easier, the end result is that they will skew the exam to make it more difficult and only pass a certain amount of people. So for all those that say level 3 is an easier exam than level 2… yes it certainly is. HOWEVER, even though it may have easier “content”, it is more difficult to “pass” given the competition. Do not get trapped by thinking the content is easy therefore I will pass.