For some reason it doesn’t feel as bad as my Band 10 Level II Fail the year before I passed it. Maybe it’s because the Level II Fail taught me that life goes on. Nonetheless, an awful feeling that is only mitigated by the fact that I conquered this hurdle once and will do it again! Essay Q# Topic Max Pts <=50% 51%-70% >70% 1 Portfolio Management - Individual 15 * - - 2 Portfolio Management - Individual 23 * - - 3 Portfolio Management - Institutional 26 - - * 4 Economics 23 - * - 5 Portfolio Management - Asset Allocation 20 * - - 6 Fixed Income Investments 19 - * - 7 Equity Investments 22 * - - 8 Portfolio Management - Risk Management 16 * - - 9 Portfolio Management – Performance Eval. 16 - * - Item Set Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Investments 18 * - - - Economics 18 - * - - Equity Investments 18 - * - - Ethical & Professional Standards 36 - - * - Fixed Income Investments 36 - * - - Portfolio Management - Execution 18 * - - - Portfolio Management - Individual 18 - * - - Portfolio Management - Risk Management 18 - - * We have divided the full group of candidates who did not pass into 10 approximately equal score bands. Your score band below shows how your overall score on the exam compares with all other failed candidates. Your score band: 7
1 Portfolio Management - Individual 15 * - - 2 Portfolio Management - Individual 23 * - - 3 Portfolio Management - Institutional 26 * - - 4 Economics 23 - - * 5 Portfolio Management - Asset Allocation 20 * - - 6 Fixed Income Investments 19 * - - 7 Equity Investments 22 * - - 8 Portfolio Management - Risk Management 16 - - * 9 Portfolio Management – Performance Eval. 16 - - * Item Set Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Investments 18 * - - - Economics 18 - * - - Equity Investments 18 - * - - Ethical & Professional Standards 36 - - * - Fixed Income Investments 36 * - - - Portfolio Management - Execution 18 * - - - Portfolio Management - Individual 18 - - * - Portfolio Management - Risk Management 18 - * - Band 6 Fail. So am with you for the next year “the Show”.
the show - you and I have done the same thing the last three years: 2009 - Level 2, Fail Band 10 2010 - Level 2, Pass 2011 - Level 3, Fail Band 7
I am there just a step behind… literally 2009 - Level 2, Fail Band 9 2010 - Level 2, Pass 2011 - Level 3, Fail Band 6
cpk123, I thought you would have killed the exam given I followed your comments throughout the year and thought you knew the material well. I did horribly - Band 3, so I will be here again next year and hopefully you and I are both successful aswell as the others. I am going to enjoy the rest of the summer, work is busy so I can’t dwell on this and will pick it up early this time maybe in October so I don’t cram like this year. See you guys in the fall
Failed. Band 7. Not sure if i wrote in the wrong places. In AM session, starting from Q5 all are below 50% where as i had good feels about morning session…very frustrating… Essay Q# Topic Max Pts <=50% 51%-70% >70% 1 Portfolio Management - Individual 15 * - - 2 Portfolio Management - Individual 23 - * - 3 Portfolio Management - Institutional 26 - * - 4 Economics 23 - - * 5 Portfolio Management - Asset Allocation 20 * - - 6 Fixed Income Investments 19 * - - 7 Equity Investments 22 * - - 8 Portfolio Management - Risk Management 16 * - - 9 Portfolio Management – Performance Eval. 16 * - - Item Set Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Investments 18 - * - - Economics 18 * - - - Equity Investments 18 - - * - Ethical & Professional Standards 36 - - * - Fixed Income Investments 36 - - * - Portfolio Management - Execution 18 * - - - Portfolio Management - Individual 18 - - * - Portfolio Management - Risk Management 18 - - *
failed band 4. did reasonbly well on AM - passed 3 essay but got OWNED in the PM section Q# Topic Max Pts <=50% 51%-70% >70% 1 Portfolio Management - Individual 15 * - - 2 Portfolio Management - Individual 23 * - - 3 Portfolio Management - Institutional 26 - - * 4 Economics 23 - - * 5 Portfolio Management - Asset Allocation 20 * - - 6 Fixed Income Investments 19 - - * 7 Equity Investments 22 - * - 8 Portfolio Management - Risk Management 16 * - - 9 Portfolio Management – Performance Eval. 16 * - - Item Set Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Investments 18 - * - - Economics 18 - * - - Equity Investments 18 * - - - Ethical & Professional Standards 36 - - * - Fixed Income Investments 36 * - - - Portfolio Management - Execution 18 * - - - Portfolio Management - Individual 18 - * - - Portfolio Management - Risk Management 18 * - - Your score band: 4 whats weird is that i saw a candidate who only passed 1 AM essay and failed 4 and still passsed the exam. the PM definatley killed me i had no idea i was that weak
Well, i totally hate it that you guys failed, I really do, but it is going to be nice to at least have a few familiar names in the L3 forum still. We’ll kill it this year guys.
Well but well when it takes an hour and a half to just get the brain beginning to think in the morning exam, passing was a long shot. 1 Portfolio Management - Individual 15 * - - 2 Portfolio Management - Individual 23 * - - 3 Portfolio Management - Institutional 26 - * - 4 Economics 23 - * - 5 Portfolio Management - Asset Allocation 20 * - - 6 Fixed Income Investments 19 * - - 7 Equity Investments 22 * - - 8 Portfolio Management - Risk Management 16 * - - 9 Portfolio Management – Performance Eval. 16 * - - Item Set Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Investments 18 * - - - Economics 18 - * - - Equity Investments 18 - - * - Ethical & Professional Standards 36 - - * - Fixed Income Investments 36 - * - - Portfolio Management - Execution 18 * - - - Portfolio Management - Individual 18 - - * - Portfolio Management - Risk Management 18 - * -
I am beat down from this whole process, I really went overboard on the studying this time so I could be done for once and all, woulda gone 3/3, but I can’t read directions apparently, so at least I will be in good company next year (though for all of guys sake, wish I wasn’t). I did band 5 with half the test thrown out, about 90% confident I would have passed as I felt the afternoon was far more difficult than morning, and afternoon was a pass, the one morning section they graded (had templates, which I used) was >70%. Knowing I probably passed and still being held back is a b!tch, mainly because it was close even with all the studying, and unlike LI and LII i honestly feel like there is not much more I could have done to prepare, so next year I could likely fail regardless. CPK i feel for you man, your reputation has been as one of the smartest guys on the forum for years. I remember for LII when you didn’t make it, I had a buddy who took it at the same time you did (one of the smartest guys i know), and he was like: “let me tell you how hard this test was, this genius CPK guy didn’t even pass, and he knew EVERYTHING!” It is what it is I suppose, but lets make god damned sure we are not here again next year lamenting the same outcome. See you guys around February/March.
If it’s any consolation to anyone, I only got between 50 & 70% once (ethics level 2) everything else was above 70% AND I took level 2 six months after level 1…I then go on to fail (band 8) level 3. I thought I killed the individual IPS and I got below 50% – I wanted to throw up all day yesterday. But hey, life goes on. Let’s all kill it next year.
mark I feel for you as well. Though I was one of the first to say “read the instructions” I know you were doing very well. In my case - this year I had a job change, place change, required to stay away from family, and lots of travel in between - all of which resulted in not enough time being devoted to the process of assimilating the material. Also feel that the “overall” round out of knowledge required - application of material from one portion to another - was not present. Surprising thing is - the portions I got the >70% on the AM - were the ones I attempted first. So those were stuff I had learnt better it looks like. Other AM questions - I ended up getting a < 50% - which hurt. That in addition to the fact that there was not enough of a push up from the PM session - hurt my result overall, leading to a Band 5. I am sure you would have passed - had you written answers where they were meant to be. For the next time around - watch the question page numbers - put in adequate number of ruled note sheets in between to match the final pattern and write the answers there, during practice itself. Best of luck. I am sure I will have a lot to learn from you. If you do not mind - please send me an email at cpkrish123@gmail.com. (to keep in touch outside of the forum).
That morning session is graded a lot tougher than I expected. I thought I was fair on my grading of the practice exams, but I guess not. everyone in my office was comenting on how low their AM scores are even though they felt they had pretty good, well thought out answers. Next year I’m doing AM practice test after AM practice test and get this essay part down for sure!
may help if we cross graded each other, based on the guideline answers - provided we had the time.
i spent 6 weeks on qbank. that was probably my undoing.
I failed band 8. Was pretty bummed out about it as I thought I had passed. My scoresheet was surprising, I expected my score to be a lot better on the am session. I scored less than 50 precent on the individual and institutional ips questions. I’ll do better next year. Can’t wait to be done with the exam…
I had a very similar feeling. I thought I did answer the AM session questions well, but was surprised by the way the scores went - 6 < 50%, 3 > 70%. So need to a. tighten up on the AM sections definitely. b. look at the guideline answers when they come out in Spring 2012 - after answering the 2011 paper then once more - and see what was lacking, in light of the new preparation - and see what is really going wrong. What it does mean is - I need to be prepared way earlier - allowing for all distractions / trials / tribulations that I might go thro’ to be able to answer the paper as soon as it becomes available.
Agreed. I was trying to figure out what my problem areas were last night in order to make sure I dont repeat them. I couldn’t really come up with anyhing specifically. It’s a shame they release the answers so many months after the exam…
I like most of you am pissed off. Hoped I was done, but I am back here again. At any rate, pity party was yesterday. Does anyone know of any tutors for the exam? It might be helpful, for me at least, to have someone objective review my essays. Just a thought. I am revamping last years plan and doing some serious studying in the fall. I’m starting September 23 after I finish the CAIA. Probably overkill, but is there really any such thing when you are dealing with this test. Also, just got a book on speed reading and watched a couple of online courses on the techniques. I have always felt that I am a slow reader. Anywhere I can get an edge.
Same here. I thought I really did well in AM section…but most of them were <50…When I did previous AM exams, I did pretty well… I just can’t figure out where it went wrong. Hopefully, I still remember some of my own answers when we can download 2011 AM exam from CFAI next year.