the feeling of passing level 2 was much greater than passing level 1…
- Its not that tough that they make you believe. CFA is very do-able. Half agree, it is very tough, but doable 2) CFA is 80% hard work and 20% intelligence. Agree 3) An average joe can clear the program provided that he/she does not give up hope. Disagree, I know plenty of average joes with a lot of hope that could not grasp the material despite having hope 4) CFA is difficult because you’ll have to give up on your social life for the three years that you’re doing it. Agree 5) It is much more difficult to clear the exams while you are working Agree 6) Thus, if possible take atleast 1 ( better 2) levels while you’re still in college Agree 7) Clearing only 1 level or clearing only 2 levels does not carry any weight. You have to clear all three levels before you can make the exams work for you. Disagree, automatic promotions at most BB’s SS ER if you pass L2. If interviewing however, agree. 8) CFA alone will not calapult you to the $100,000 job 99% of the times. Half agree, depends on what industry you are applying. 9) It is expensive. Abt $2500 to be precise Disagree, in relativity. Most firms will allow you to expense it. 10) It will cover all topics in finance, but it is more suitable for equity research type of roles Agree 11) it is not a subsitute of FRM ( and vice versa) Agree 12) You’re not going to seem attractive to chicks in a bar only because you hold a charter Disagree, you have more confidence 13) People don’t get that much impresed that you’re a CFA unless they are CFA level 1 candidates Disagree, people who have failed and given up are secretly impressed 14) the feeling of passing level 1 is the great, level 2 is good and level 3 is just ok Disagree, the feeling of passing L1 is great, L2 is amazing, L3 is okay 15) The happiness of passing Level 1 lasts 1 week, level 2 lasts 2 days and level 3 lasts a few hours. Disagree, L1 lasts all week, L2 lasts all summer, L3 lasts until you are dinged on a job opportunity 16) Schweser is the best 67% agree, L3 it is not the best 17) Study atleast 2 hours everyday Disagree, burn out. Schedule big study days and break days. 18) start Preparing atleast 4 months before the exam Agree 19) refer to CFAI textbooks only when in need for level 1 and level 3 Disagree, do every problem. Also, refer when you have any doubt 20) Use CFAI textbooks often in level 2 Disagree, L2 is drawn out, use more often in L3 when you need lengthy explanations 21) you’ll forget what you studied by the time you complete your course. Agree, take great notes 22) in View of 21, revise atleast thrice before the exam Agree 23) you mock test scores in Schweser Pro are the best indicators of your expected score Agree 24) Doing Schweser back of chapter problems and doing CFAI past years qns is a very good idea Agree 25) take free CFAI sample exam 3 weeks before the exam Disagree, these arent great and confidence-breaking. 26) take CFA mock exam 10 days before the real exam Agree 27) apply for a 2 week leave before the exam , well in advance . Agree 28) try to understand the material rather than mug it ? 29) Ethics is BY FAR the most scoring and important topic in exam ( especially in level 1) Huh? what is the most scoring? 30) take lots of tests Obviously 31) If possible, study from Schweser Videos for L2 Eh… 32) Everyone who studies for atleast 300 hours for L1 shall pass that exam Disagree, you need to do the right kind of studying 32) NOT Everyone who studies for 300 hours for L2 shall pass that exam Agree 33) L2 is very difficult. Abt 4 times more difficult than L1 Not sure how you came up with that valuation 34) If possible, form a study group Disagree, I think silent study groups are better (i.e. no talking, just backing each other up by walking to the library and staying there). You should interpret the material in your own way. Letting other people put ideas in your head could potentially be dangerous. This is why i would recommend avoiding AF until you have an understanding of all of the material. 35) Don’t start hitting on the girls in the study group. If prone to such activities, study alone Disagree 36) Talk to your friends regularly on weekends. take out 1 hour on both days for this purpose. This will ave you from burning out Agree 37) Have a beer when you’re frustated of this F&&&& exam Disagree, stop drinking altogether, will help curb weight gain. 38) If extremely bored of prepatration, take a weekend off. Go on a trip/ read Calvin & Hobbes/ Gossip with friends. After 1 weeekend, hit the books again. Without fail Disagree, dont waste a weekend if you’re working 39) Don’t let people fool you into thinking that you can pass the exam in 2 weeks. That won’t happen unless you’re John Nash. Agree 40) Join www.analystforum.com Agree, but see point 34 41) It makes immense sense to talk to someone who has cleared your level (recently) before starting actual preparation Agree 42) Don’t be afraid of the numericals. They’re not that difficult Agree 43) for L1 - FSA , ethics are Imp Agree 44) For L3, having a holistic view is important Agree 45) For L2, Everything is important Obviously, you could say that for all levels though 46) Do not send the picture postcards you received with CFA registration to anyone, that’ll instantly classify you as nerd Never got one of these 47) Its better to complete one book before moving to another one, that way you’ll always have an idea about how much syllabus you’ve covered Agree 48) Once you pass, don’t boast about the CFA program. That’s one of the most stupidest things to do. Dont boast, but definitely relay the information that you passed. Any credibility in the workplace is a good thing 49) If you fail once, don’t give up. If you fail twice, continue if situations were outside your control. If you fail thrice, leave it. Agree, but depends on what level you are failing repeatedly. 50) Degrees, Education, Charters, Exams are all of zero importance if you do not maintain good relationships with people. That’s the single most important thing that i’ve learnt over the three years in this program Agree
@ JScott: I’m Level II candidate and trying to adjust my approach, how many days off per week from studing would you recommend? I was thinking two? Thank you.
Don’t agree with "15) The happiness of passing Level 1 lasts 1 week, level 2 lasts 2 days and level 3 lasts a few hours. " I’ve passed L3 and I’m happy for 2 days already!
That is odd. I’m so so so happy with passing the level 3. Now it’s the time that it’s officially OVER!
what a lame post, trying to get some attention, used his /her perceptions and personal experiences to generalize things. so many new myths denying others… just for example points 4, 2 and many more. Don’t care to point them ! Just becoz sbdy speant all his time, doesn’t mean its 80% hardwork for everyone !!
We certainly are all different, and our journeys through the program are different too. For myself I am VERY happy with clearing level 3, more so than the other two levels. I am so glad not to be facing another “study season” where I constantly have to struggle to find a bit of time to study in between taking care of more important things (mostly a son who is very close to me and a job which demands tons of hours). The relief is palapable for me. I agree that we will all have a different list of 50. There is a bunch of stuff I agree with, but also some that I don’t. They ARE difficult exams IMO and it is perhaps a little insensitive to those who struggle to state that an “average joe” can do it. I know too many intelligent people who applied themselves to these exams and were not able to get the results. It’s not the hardest thing in the world, but it’s not something anyone can do either.
glendronach Wrote: ------------------------------------------------------- > cfafa Wrote: > -------------------------------------------------- > ----- > > as a L3 repeater, I could not possibly disagree > > more with points 14 and 15…hope to be able > to > > make an honest comparison come this August. > How > > could passing L1 feel better than passing L3 > and > > finally having your charter, achieving the > goal, > > and (maybe best of all) never having to study > this > > again?? > > Agreed… 14 and 15 are ridiculous. Passing > level three and feeling the weight lifted from my > shoulders is probably the best feeling I’ve ever > felt. Maybe it’s just me, but the sense of relief > was incredible. Yeah, passing level three was easily 2x better than level 1 and 2 combined.
seeing artvandalay (best AF alias ever, btw) post comments here let me see my old post from 1/14/10…and since I just got the good news on Monday, I can say with a huge smile that YES, by far the L3 pass is the best.
- Clearing only 1 level or clearing only 2 levels does not carry any weight. You have to clear all three levels before you can make the exams work for you. Not really…i’ve seen many job postings that give weight to passing some levels of the CFA program. Some jobs require that you have the charter or at least are a candidate in the program. Some jobs require that you have completed LV 1 to get an interview.
Don’t you have to have a Bachelors degree to sit for Level 1? how can you clear any levels while still in college?
CFA_DC_Area Wrote: ------------------------------------------------------- > Don’t you have to have a Bachelors degree to sit > for Level 1? how can you clear any levels while > still in college? You can take level 1 if you’re in your last year of undergrad. I’m not sure if you take and pass it in December if you can then also go ahead and register for level 2 in June, but if so that’s how it could be done.
#14 for me is opposite. Maybe because Level 1 and 2 passed on first try and level 3 was 3rd try, plus a promotion depended on me passing plus im moving into new place and getting married next year in april so yeah, passing L3 recently was not just ok. ecstatic
And you wanna be my latex salesmen?