LOL. There could be multiple reasons for someone spending a shorter time than required or planned. Well when I did what I did I know it was a high risk strategy, rather a lot like a call option (not really a high risk strategy). The utility value of the reward (of passing) might have been lower than the utility value of time to pass as this point of time. No one needs to feel awful for anyone else. Do emotions have value, may be they are value destructive.
I think ltjās point was if you took a noted āriskyā strategy, you may should have mentally prepared for a bad result and not have taken it so hard. Iām not here to tell you how to feel, but rationally people that fail to prepare for a goal generally donāt react so harshly to not attaining said goal.
Meaning to say that bankers who take risky positions should not feel bad or feel so harshly of their lossesā¦OKā¦well not many would stay in their career too long.
I get Hedgee point on his strategy - am I going to give up an entire year for one piece of paper - that is backpacking, focusing on profits for my firm, leisure time with my family, etc - time which I will never get back for one piece paper - maybe not.
A reasonable amount of time - sure - an entire year - it aināt worth it.
Nothing harsh meant. Apologies if I came across that way. I joined AF this month, expecting a close brush and not sure if I would have the time to go thro the grind next time. Honestly I was expecting AM to be in second bucket mostly except the last 2 sections that I was under time pressure. Hence I was thinking if it makes sense to retab. I had done PM quite well, and was unsure of how I did ethics. Apologies again.
Hope you do well in the GMAT at least. Iām actually taking it in the new few weeks. I did okay in my first try, but the higher the better I suppose. Best of luck man.
Well, I too got through L1 and L2 in one shot, but didnāt do so well for L3. 2-2-6 for AM and 8-1-1 for PM. Was confident that I did enough to get decent results for the AM, but not so sure about the PM. In the end, it worked out the opposite way.
One of my friends has the same composition of marks, another one has 3-2-5 for AM and 4-5-1 for PM, and another has 3-2-5 (AM) and 5-1-3 (PM). Iām assuming these are the Band 11-ers.
Iām just wondering whether yāall think that re-tabulation might work out for me. Considering that Iāve done quite well in PM when compared to the above examples, wouldnāt there be a possibility of a Band 11 upon re-tabulation? Provide me some consolation, AF!
I DID leave out about 7 marks of questions from the AM session because I ran out of time. In terms of knowledge, I think I had enough to get a Band 11, but I think the lack of practising writing past papers is what sent me to a Band 10 result. Iāll have to do extra work on past papers/mock exams for 2017 (if re-tabbing isnāt successful).
I believe one should have the right strategy. And the right strategy is to focus on portfolio management more and focus less on stuff like derivatives alternative investments etc. I was really bad on preparing client Ips and the related bits which made me fail I believe. Band 9. I am hoping to pass next time round as I know at least half of the material quite well. Do not give up, just another year which will be spent this way or that way.
Band 10 failure, got less than 50% in topics when in the afternoon was scoring above 70% (to be honest that was all but 2 and one of those I got 70% in the AM), incredibly frustrating but at least I know I have a (semi) decent handle on the material from the afternoon scores and need to work on the essay parts.
Did approximately 8 mocks, scoring something like 40% in the first AM I sat and improving to the 65-75% band with no partial credit but must have still been too lenient. Canāt even begin to work out how many hours I put in, was massively irritated yesterday but feeling a lot calmer today, feel like I can build on what I know and try and beat this in 2017.
Sorry Topper, but donāt agree with you about Ethics, I havenāt ever scored less than 70% in the topic even when failing this year. Agree it is by far the most subjective of topics but once you get the trick/understanding (delete as appropriate) to what the institute are looking for, it is some of the easier points (although I would say in some practice questions I have scored 2 out of 6, so not always guarenteed). That said I have a psychology background so maybe that helpsā¦ didnāt with behavioural finance thoughā¦
I Regret to inform you that I am part of this club as well. Studied my ass off, 450 hours, and failed. Did past CFA AMs, schweser mocks, and CFAI mocksā¦ Stuck with a strict schedule and hammered through materials consistently. All for nothingā¦ F my life. Now I am sentenced to serve 6 months CFA redo jail sentenceā¦
No big deal though, why should I have a life. Will just send my wife a letter from time to time. Maybe a conjugal visit once in a while.
Super depressing, but we will get through this eventually. Will crush it next year. I may be in CFA prison, but I am going to make level 3 my bi*#$ch
Itās certainly nothing new but endlessly interesting that so many of us could do great on the PM and horrible on the AM. Just speaks to the difficulty (unnecessary subjectivity?) of the AM in that you must answer (apparently) precisely as the CFAI wants.
Anyone that put in the time and has the knowledge to go 8-1-1 on the PM should not be getting scores of 2-2-6 on the AM. Such a discrepancy should be a rare anomaly, yet we find that nearly everyoneās results (1 boxers and 2 boxers) follow that same trend. You would think that such a widespread trend would disturb the CFAI but it seems that is not only accepted but intended.
I feel a great deal of sympathy for those who studied hard, and ended with a Fail. I could so easily have been one of those. I consider myself to be fortunate. I would have had no idea how to redo the studying for this exam. As I felt that I had given a substantial amount of my life to this.
For those who did less than 200 hours even, I have very little sympathy. Itās insulting to those who have really worked ( whether they have passed or failed ).
I am not even sure if the original post is real or not.
I just keep reminding myself to have humility. Also passing an exam and Asset Management in practice are 2 different things.
If my PM was a devastation I would accept this failure that I didnāt understand the Level 3 contents / materials and would need to work harder to study. But my PM was great while my AM looks like the aftermath of Nagasakiā¦I was shocked to see my result. Its a contradiction.
But thatās what it is - I have written numerous reports sufficient for key stakeholders both in and out of the firm - but nope not good enough for CFAI standards, albeit one (the acceptable written) brings me money while the other (the unacceptable written) I have to payā¦
Gutted reckon I did at 300 hours but mainly used Schweser and also all the old mock exams. Did the best ever in my mock as usually failed the mocks for level 1 &2 only to pass both first time.
Im most disappointed with getting less than 50% in ethics as with 1& 2 got over 70% and in the mocks this was a strength for me. Just shows you can have a bad exam day. Didnāt get off to a good start writing in the wrong box.!
band 8. Know Iāll pass next year will start again in Oct will do an hour a day and no weekends. Keep the wife happyā¦
I think the issue is that i put key works such as ātheā and āandā in the incorrect places. The subjects in the AM that i thought I got 70% for sure, I received in the 51-70 which blindsided me yesterday
