Not to jump on here but like CPKI feel terrible as well.
After going through the PCP investigation last year with passme, when they finally let me out of jail on Feb 19, I gave it my all for 3 months.
I was sure I had passed in 2012 and my stupid commenst here after the exam spoilt that.
I came out of the exam this year thinking that went well again
Yesterday when I saw I ended up in Band 10 I was in total disbelief.and disappointment. I literally cried for an hour, picture a big , 220 pound black man sobbing at his desk.
My AM was
6<50
4 mid range
1>70
PM
4>70
2 mid rane
and 2 <70
Also and most inportantly, my Ethics was mid range and four questions in a row in the AM I had below 50.
I thought I had done well but I guess I have not. I will be back on the horse for next year. Passme , congrats man.
CPK just stick with it and we will get over the hump at some point.
Yeah it becomes almost impossible to pass the exam if you don’t do well on Individual & Institutional portfolio management.
It looks like you’re missing something key in these areas. Reviewing the AM portion when it’s released will hopefully shed some light on where you made mistakes or omissions. Are you writing enough down? I wrote quite a lot which is in contrast to what most people say is appropriate. My result was >70% in 3/5 PM AM questions and the rest 50%-70%.
I don’t think the Individual and Instl. PM is the problem. I got sub 50s on Instl PM plus Economics and Equity Investments, for a total of 6 sub 50s in the AM!
The problem is the PM section. You were close, but you needed to kill the PM and you merely did very good.
You may well past next year though, you definitely know the material, you need to fine tune and ramp up.
After seeing the guys who were Band 8-10, I must have barely passed.
It’s true that you can make up for a bad AM section with a strong PM section but that’s not the best strategy. For the most part everybody does well on the PM section. What sets candidates apart on level III is AM section performance.
Level III is about portfolio management…if you bomb this section in the AM you’re basically showing CFAI (true or not) that you don’t comprehend the core material IMO.
One knows what to expect in AM especially for individuals and institutions questions and need to do well in them. With PM, you never know what curve balls they would through like Alt.Inv this year.
Need not to excel in AM but should do enough to get 55-60% in that.
CPK maybe you should get your AM practice exams graded by a third party. I suspect that you are not writing down enough, thinking “this is just fluff,” and the graders are having difficulty following your chain of logic.
I don’t understand this… CPK consistently comes across as the smartest guy in the room (no offense to anyone else - there are a lot of smart people here).
Commiserations CPK.
No advice from me. Just wanting to say that I feel for you. CFA exams are 50% skill and 50% luck. Better luck next year.
Please listen to my advice CPK. Go to the Creighton boot camp. I couldn’t have passed without it. His teaching on Individual PM is worth the price of admission.
CPK was at L3 helping folks when I was in L2. He was helping me when I was made L3. and he helped people this year when I already got my charter. and he’s still stuck at L3
