The CFA remains the top credential in the Financial universe and will for quite some time. You think 40% pass rate is high? Consider that only 35% of us made it through round 1. Think back to everyone who took the test with you over a year ago. Now eliminate 84 of every 100 people. The ones who are left are the ones going on too level 3. And considering that level 3 had a 50% pass rate only 8 of every 100 people who started in June 08 will be finished June 10 (obviously not counting retakers for level 1). That is a pretty steep slope. Further, what makes you look like even more of an idiot is not considering the huge bands. Your greater than 70% may be 71% while mine may be 99%. So just looking at bubbles on someone’s results gives no true indication as to how one did. Therefore, speaking to those with “questionable scores” makes you look extremely clueless. If anything makes me question who the CFA is letting through…its posts like yours. P.S. I PASSED!!! So happy…felt like crying this morning.
“2. I didn’t just barely pass, I passed with flying colours” How can you even know that? So you got greater than 70% in all sections? Congratulations all you are assured of is you got 71%. Not much different than possibly someone who was in the middle band for every section. Your ignorance precludes this from being a serious discussion, as you know not about that which you speak.
eltia Wrote: ------------------------------------------------------- > TheChad Wrote: > -------------------------------------------------- > ----- > > eltia Wrote: > > > -------------------------------------------------- > > > ----- > > I am living proof that this is not the case… > > So… who is the father? O_O LOL…my pregnancy test came back negative (which would be a pass). It was bad enough being raped, but at least I am not expecting because of it 
Best, TheChad
Who would have thought that mentioning that an exam should be a little harder would ignite such a storm! If you disagree with my stance than you are more than free to do so, but trying to question what marks I received (when you have no idea of knowing) or insulting me shows a lot more about you than it does about myself. I respect those who agree/disagree with my notion that the exam should be tougher, but those of you taking it personally/name calling have little of significance to add to the argument. Reminds me of a little of how a certain politcal party responds to anything and everything by reaching for the lowest most ignorant response (“he’s going to create death panels”).
Kamilio Wrote: ------------------------------------------------------- > 2. I didn’t just barely pass, I passed with > flying colours (to whoever made that comment). Kamilio - dood, you need to re-read the reason why they don’t give out exact scores. Guess why? So CFA charterholders can’t say EXACTLY what you just wrote. “I passed with flying colours” = “I passed easily” = “I passed better than others” = “I’m smarter than others”? Re-read the CFA response on why it doesn’t give out exact scores. Amazes me how some of us can pass without absorbing the essence of this test, curriculum and program. I’m happy for you man, but honestly (and don’t be offended), you seem more like the kind of person who needs to succeed while others fail, rather than the guy who succeeds and brings others with him.
I am a proud democrat Kamilio. But I digress. I addressed your point. Only 8 of 100 people will pass each level of the CFA on their 1st attempt. How much harder do you want to make the exam? Have you even thought of the implications of what you are saying? Think before you speak is all that anyone can ask of you. And honestly, your lack of judgment is the biggest indicator that you lack the requisite critical thinking and reasoning ability that every Charterholder should posses. Perhaps there is something to your original statement. How do we weed out people like you?
I found the exam is not difficult but tricky (as someone already said). At one point during the exam, I was cursing to myself inside for all the booby traps that CFAI laid. That Earnings Quality section in FSA, in particular, is what I believe many people would have trouble with. I guess few people would have prepared that topic very carefully and expect it to show up in both AM and PM section. I have my own share of surprise too. This year is Econ to me (while AI is an area I didn’t expect to go well, so nothing out of the ordinary).
exams are pretty tough, most people that earn the designation fail at least one of the exams along the way. There are what, 110,000 total Charters issued ever? I just don’t see this as being so watered down and not all that difficult. Skill, you indicated the test was easy, but isn’t this your second shot at L II? No shame in that of course, but another go around with the curriculum would tend to make the exam seem easier. (If I am wrong, sorry, just going off a vague memory here!)
Kamilio Wrote: ------------------------------------------------------- > 1. In a perfect world I would have waited a > couple of weeks and that is my mistake. > unfortunately, the world is not perfect - it is a hostile, brutal place where people have to deal with every-day struggles and kamilio… sigh
Given an “easier” L1 this year, do you guys think L2 will be even tougher next year? I guess CFAI has proved that they have no problem of keeping the pass rate low. Kamilio, To what difficulty level do you think the exam should be? With the current passing rates, only less than 1 out of 10 of us can pass all 3 levels on the first try. There has to be a reasonable point where CFAI call the shot. If you make the exam too difficult, it might be less representative of real life situations (just my guess), and less people would be willing to try (and CFAI will make less money!!). After all, goal of this test is to show that you’ve mastered the basics, and you should know where to look for information when the situation demands it. After all passing this test doesn’t make us top fund managers.
I think passing rates in L2 and L3 will trend lower while L1 will trend higher. This will keep more people in the program but will limit charterholders and keep value high.
what a dumb thing to say…u knew the range of the passing rates before you gave the exam…then u shudnt hav given cfa if u think passing rates r too high…i know i busted my ass off for this thing…cleared level 1 in dec 08 and lvl 2 in jun09. Its not easy . All i can say is that if u clear CFA it shows tht u r a hard working , intelligent guy. thats it…u r not a fund manager…thats y cfa asks for 4 yrs of experience …b4 u bcum a CFA i dont think it shows anything else…mayb u r too lucky too pass given the number of hours u spent…
A lot of you guys make a good point. Hard for me to come out with a specific difficulty level for level 2. I know that level 1 at 46% seems pretty high (specially since ours was 35%), so I would lean towards a 30-35% passrate for level 1. For level 2, the exam is fairly difficult as it is now, so I would only lower it a tad bit to 35-40% passrate. Anyways, congrats to all of us who passed and I wish nothing but gluck to those who will be passing it in 2010.
agrover Wrote: ------------------------------------------------------- > what a dumb thing to say…u knew the range of the > passing rates before you gave the exam…then u > shudnt hav given cfa if u think passing rates r > too high… Take it easy there. Of course you can manipulate the passing rate. Just make the exam x10 trickier and throw curve balls like there’s no tomorrow. I’m sure the passing rate will be <10%. I think CFAI has a rough idea where the cutoff point is, and design the tests towards that. After the exam, they can still make adjustments, and that’s the whole point of not disclosing the true MPS.
Eh. I could care less. 59% of the people that sat down and took this test failed. If you think about it, a portion of that 59% are probably a portion of the 35% that passed Level 1 last year. This tells me that this was in fact, a hard test and the only reason I passed was because I was prepared for the worst. Anyway, I’m just going to enjoy the rest of my summer, and prepare for battle around January/February and wrap up this entire process. See yall in the Level 3 forums in a few months.
Oh and FYI, The 41% pass rate was the third lowest in history. And on top of that, the 35% Level 1 pass rate last year was the second lowest in history. So for the people that started in June 2009, we have been a part of a series of exams with historically low pass rates. If anything, I hope CFAI gives us a break for Level 3 .
how about this: why don’t they ask REAL questions, and more of them to make sure you know the material instead stupid questions that are so encrypted you need a decoder to know what the f they’re asking
“Skill, you indicated the test was easy, but isn’t this your second shot at L II? No shame in that of course, but another go around with the curriculum would tend to make the exam seem easier. (If I am wrong, sorry, just going off a vague memory here!)” No, I was registered for LII last year but decided not to sit when I was told I’d be traveling for (basically) all of April and May. Figured that opportunity was a once in a blue moon shot and wanted to be able to enjoy it, so I stopped studying (although I’d prolly put in about fifty hours before I decided to say fugg it and take it next year). However, I don’t think there’s any shame in failing any of the levels, as they’re certainly not “easy”, and I apologize if my post made it seem that way - I actually think it’s in poor taste to be discussing this today when a large number of people are fairly heartbroken, but since the cat’s out of the bag, I will stand by my opinion that I’d like to see the test be a little harder and the charter a bit more difficult to earn.* * I’m a pretty arrogant phuck, so no worries if you don’t agree with me, you’re probably right.
thats funny.,… people discuss and at the end throw a disclaimer saying “not a right time to discuss”… If guys have problem with CFA thoughness… whydon’t u guys go for things that r really tough !!
"If guys have problem with CFA thoughness… whydon’t u guys go for things that r really tough " If you have a problem with my opinion, why don’t you state your own opinion or, (and this would be my preference), simply stay silent on the matter as opposed to sounding like a toddler.