Hi folks, as the days count down slowly and steadily, I’m having my share of nightmares about the Level 3 result. I’m a retaker Band 2, and barely studied for my previous attempt. However, when I think back about my preparation this year, I cannot honestly think of anything I could have done more. Knowing my office work and family related obligations would take up at least some amount of time, I began my prep 6-8 months before the test, and left nothing out - EOC questions, BBs, Schweser notes, Schweser EOC questions, Schweser mocks, 7-8 years of past exam papers, CFAI mocks, got every single doubt I had clarified either by AF here or google so as to nail the concept, multiple revisions, made my own notes, shut out all distractions and so on. I truly feel there is nothing more I could have done to prepare better. I thought the exam went okay, but I know anything can happen in these sorts of exams - so I’m just wondering if anyone who’s cleared the Level 3 exam has felt like me before (I’m sure I’m not alone). If I flunk, how can I possibly prepare better? - Just beats me. Should I just stop pursuing the CFA charter? What did it feel like to be 95-100% prepared and still get a fail result? I know it’s not the end of the world, but it’s still been one hell of a ride.
Failing band 8-9 means you were very close and Band 10 means you just got unlucky. You have to try again. Maybe next year the tested topics are different and tilted more towards things you know better. Don’t considered “last year Band 2” as a real attempt… This year was the first time you put the effort in and you have a chance…
I feel exactly the same as you meshed. And I don’t think if I failed, I could muster the energy to put in all of that effort next year knowing anything can happen on exam day. I did make a lot of silly mistakes and that may be my downfall this year but that could just as easily happen next year. Too much work for not a sure thing. Let’s hope we both passed and it is not even an issue but I am done either way.
Its normal to have some doubt… considering the amount of hours you’ve put behind you, I wrote my L3 last year in 2014 and honestly i didn’t had nightmares like i did in L1 and L2. All what i said is that i did my best, and i gave my shot even though i flunked in one of the exam sessions which didn’t help me after the exam given how much mistakes and guesses i made. I would say you did your best and wait till August 11th… For the time being, enjoy your summer!
meshed better man than rahul troll
meshed, you have put in your best foot forward, certainly results are not in your hands. But you surely have nothing to lose. In my eyes you are already a hero, irrespective of whatever the outcome be. And i believe you will pass. I, on the other hand just missed the boat. No excuses but I fell short of couple of months preparation(I took my FRM-II last Nov.). By the time I realised that same I was through with Schwesers all 6 mocks and 2014 and 2013 AM section of CFAI. Though I scored consistently 65%+ in AM throughout, time mgmt. was an issue which I could not really mastered and thus paid a heavy price in actual AM session.
I will come back and conquer, so I believe. You have left no stone unturned and so shall I. No regrets.
Meshed - I feel the exact same way after doing exactly what you did (i.e. studied 5+ months / took every practice exam I could possibly get my hands on).
A few things I remain paranoid about is 1) Given the time constraint, did I answer every sub-part of every question?; 2) Is not answering a sub-question or two on the essay portion going to cost me?; 3) Is guessing on 4-5 multiple choice questions going to hurt me also?; among other things…
The fact is you’re not alone in that even people (like myself) who studied their behinds off still found the test to be very, very difficult. However, with that said, I think growing up and receiving my education in the U.S. taught me that I always had to be perfect - e.g. a 75% on a Social Studies exam meant you were a failure and if you got a 95%, you hated yourself for not getting 100%.
Through my studies for L3 I strived to be perfect but at the end of the day you sort of just have to get yourself in the mindset before/during/and especially after the test that it’s impossible to be perfect and in looking at previous exam results, people passed with failing MULTIPLE sections (far from perfect in my eyes). I have a few friends/colleagues who skipped 1-2 entire essay sections (worth 25+ points combined at least) and still passed.
So, in conclusion, don’t kick yourself because you weren’t perfect, but instead boost yourself up by asking yourself the question: did I do enough before/during the exam to PASS? Given the amount of time/effort you put in (relative to a lot of other candidates (on and probably mostly off this forum)) and barring any major hiccups on exam day (e.g. PCP letters, mental breakdowns, etc.), I can honestly say you (and hopefully I) have a very good chance of passing.
One thing I have learned from retaking CFA tests: This is not an in/out game. You have to put your a$$ on the line and do it until you clear them all. When that happens, the trade stays with you until the rest of your life, you have to stay in the profession after all the torture you have taken. This is why they call it a life changing thing.
One thing I am trying to leave out: Hoping that someone will do me a favor and let me pass, or give me something free in life.
you have to prep smarter, not harder
Itera +1.
2013, I got a band 10. I had done all I could, multiple revisions/mocks…
2014, spent it wisely and more on problems and test taking and importantly on learning from the tests. The tests were not to check whether I get 70%. I learnt from my wrong answers, unapproachable problems and even spent time analysing if my right answers were indeed the right way of achieving them. In all, I did all mocks from 2013-2002.
That’s a touching post…
U truly deserve a Congo mail… 
god has been very kind to give me the passing mail…thanks AF for your amazing help!
Essay
Q#
Topic
Max Pts
<=50%
51%-70%
>70%
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Portfolio Management - Institutional
14
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Portfolio Management - Institutional
17
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Fixed Income Investments
19
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4
Alternative Investments
20
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Portfolio Management - Performance Eval.
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Portfolio Management - Risk Management
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Portfolio Management - Individual
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Portfolio Management - Individual
16
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Portfolio Management - Asset Allocation
15
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Economics
14
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Portfolio Management - Indiv/Behavioral
18
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Item Set
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<=50%
51%-70%
>70%
Economics
18
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Equity Investments
18
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Ethical & Professional Standards
36
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Fixed Income Investments
18
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Portfolio Management
18
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Portfolio Management - Individual
18
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Portfolio Management - Monitor&Rebalance
18
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Portfolio Management - Risk Management
36
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