I was just wondering if anyone sees this result come August, who will end up leaving the program? This was my first time writing level II, I figure if I fail any of the exams three times I’ll probably stop, but otherwise I plan to retake next year for sure (given I fail).
I failed last year, and this year doesn’t look like a clear pass. Would do it again, as the time and effort get reduced substantially, so why not?
Really? So as a retaker you found the prep time was much shorter and you were still better prepared?
I guess the problem is moral. Can you keep studying the same thing over and over again for several years? 2nd take is usually ok (think of it as a way to “correct” the mistakes that you made in the 1st take). The 3rd take is usually when people’s determination starts to shake. But then the individual’s reason for keep going matters too. Two years ago, someone on this forum passed L2 on his 7th try. A friend of my dad tried 10 times (that’s one decade of effort) before he finally threw in the towel and gave up.
Yeah I’d have to restate. I think if I failed on my 3rd attempt, I’d give it a 4th and give it absolutely everything I got, leave nothing out there. And write the thing. If it’s not good enough to pass then I’m done. It’s not that I’m a quitter, far from it. It just seems a little ridiculous if you’re sitting down for the same test for a fifth time. I think by then it just isn’t meant to be. Unless you have a huge hard-on to be a PM or get a job that requires the charter. But to each his own.
Heck, I’ll do it again. Do you think I care? I’ll get help from John Harris next time, though.
Being a repeater myself, my advise is don’t take the exam until you are ready. This may sound counter-intuitive because if you don’t try, your probability of passing is an absolute 0. But by attempting the exam immaturely, you gain a probability > 0 by trading off a higher probability of burnout in subsequent years in the case that you have to repeat.
^^ Are you calling me an immature burnout, or are you addressing the community as a whole?
It wasn’t directed to anyone (or anything). I was just speaking from personal experience and observation.
I think it really depends on where the person is in their career. If someone is already in finance and doesn’t plan on leaving, it may be a must for advancement etc. But for someone just starting out, lets say just out of undergrad, they are probably more likely to get involved in something else.
August Results: Fail - Sounds like another nightmare come true. Regarding how many times for L2, three will be my max, more than 3 is just insane. If anybody cares, I can tell you what NOT to do…haha I cleared the Dec. 2008 L1, had a personal doggie issues, ended up with 3 1/2 months until June 09. I put in a lot of hours but didn’t study the right way. Did tons of practice exams and questions trying to learn from my errors but didn’t read the CFAI text or did the EOC questions. I relied too much on third party material. Did focus on accounting like mad and took the John Harris class. Got >70% on that and some other sections but in total a Big F. After which I decided to go ahead to just squeeze the Chartered Alternative Investment Analyst [CAIA] in until the next L2 2010. After finishing both levels of CAIA, was pretty burn out, ending up cramming all the hours in the last 1 1/2 months, again shooting my own leg. Didn’t take John Harris again, should have b/c his stuff DID show up this time…LOL I read all the CFAI text, did the EOC and am so proud of myself I managed ~30 pages of notes. Can’t stand taking notes. [I think I know how to take CFA notes now] The rotten part is this time I read too much and didn’t do enough questions. The mistake was I should have moved CAIA L2 to this coming Sept. and just do CFA L2 but I paid CAIA already and couldn’t move it or will have to get new material and pay again…yuck If the burnout factor elita is talking about didn’t happen, 2 months for a retaker could have been ok…but not recommended. So even retakers should be warned, your retaking plans could still get messed up and you will still find new things you didn’t know existed before. Sometimes I wonder if I really need it or I’m just doing it just for mental pain. Each person will have to weight what is important to him/her: quality of life and all.