what do you guys think of the difficulty of level 1? I think it’s a little bit too easy.
If you are defining difficulty by topic area - overall I agree its not rocket science. However, there are so many topics to cover. Feels like the knowledge goes in one ear and out the other.
Why would you even start a thread like this? Keep your thoughts to yourself, Mr. I-easily-make-the-top-30%-of-level-1-candidates.
daveydog Wrote: ------------------------------------------------------- > If you are defining difficulty by topic area - > overall I agree its not rocket science. > > However, there are so many topics to cover. Feels > like the knowledge goes in one ear and out the > other. Yep, just don’t get too confident and slack.
It is not exactly difficult but the amount of volume to be read and mastered is the ultimate challenge for L1
An inch deep and a mile wide - is what makes it difficult.
classic underestimation of the test. why do you think there’s only a 35% pass rate?
RHZ Wrote: ------------------------------------------------------- > An inch deep and a mile wide - is what makes it > difficult. Pretty much a perfect definition to me.
too easy i’d like to see the pass rate down to 25%
Test isn’t hard, it’s the preparation for it that separates the men from the boys. I think that’s why the designation is so desired. It shows a work ethic and dedication to a task more than whether you can explain the difference between IFRS and GAAP. The pass rates reflect that too many people who see this as a get rich quick scheme are throwing their hats in the ring and are just not qualified. The test difficulty itself hasn’t changed over the years, it’s the people who are taking it that are. Speak to any charterholder who got it back in the 90’s or earlier. This was something pursued by folks in the finance industry in their 30’s and 40’s and college finance professors with Ph D’s. Now we got college juniors and folks who don’t even work in finance(like myself) trying it.
We have to know the difference between IFRS and GAAP?..crap
whystudy Wrote: ------------------------------------------------------- > what do you guys think of the difficulty of level > 1? > > I think it’s a little bit too easy. A lot of things seem easy looking back on them.
Timmah Wrote: ------------------------------------------------------- > We have to know the difference between IFRS and > GAAP?..crap That question doesn’t make sense. International Financial Reporting Standards and General Accepted Accounting Principles They are the same shyt. what you meant was US GAAP and IFRS GAAP you should start studying!!
whystudy, over 2 years on this site huh. I think your best days may be behind you because you’re not helping anyone on here with these lame posts.
Hm I ventured over from the General Forum because whystudy was getting railed. I want to add constructively to the discussion that followed. Making your way through the CFA program is a lot like going back to school. So think of the usual characters: smart people who don’t study, not so smart people who live eat and breathe it (and manage to pass), and the majority of people in between. They key ingredient is the effort one puts into attaining the designation. It doesn’t require any superhuman intellect (having this by no means does not hurt). Having passed Level I & II, in hindsight, LI was the “easiest.” I am not too certain whether LIII is more difficult than LII. I was stressed going into all of the exams. I thought I passed LI and failed LII immediately after sitting for each level. I scored about the same in terms of break-down ironically. LIII material is kicking my butt at the moment. Each level the pass rate reflects non-serious test-takers (and other misc factors), so don’t let it discourage you. If you are serious…you can defeat it. Best of luck!
Completely Agree with valueAddict Minimum study time required: AT LEAST 4 months (2 ½ - 3 hours per day) in order to read notes and solve end of chapters problems, one month more for reviewing (when you finish with the notes you will realize you forgot almost everything¡¡) and one month more only for solving problems and exams. You do not need to be a genius, only study hard. If you spend less time than required, you will fail and you will lost your time. Study at least this and you will be ok. Make your own notes and keep them. You will need them for level II and so on Best luck from Another Level III taker
It takes a lot of effort. Level 2 is even harder. ;(
You can also view this from another perspective. The minimum required time is a guideline, not a requirement. You may need more or less. However, it is best to get as much out of this course in terms of conceptualization as possible, as the concepts in CFA-L2 supposedly build on those found in CFA-L1 to a large extent. My thinking is that, spend as much time as your life will allow at this point. The worst that can happen with this strategy is you learn more and get a better grade. That is assuming your wife/friends don’t leave you for vanishing for a number of months.
sbmarti2 Wrote: ------------------------------------------------------- > RHZ Wrote: > -------------------------------------------------- > ----- > > An inch deep and a mile wide - is what makes it > > difficult. > > > Pretty much a perfect definition to me. Ken Zahn said the same thing at a CFP review course i went to 2 years ago. verbatim. not anything that difficult but a LOT of leg work and hours required
i feel that the material is not that difficult, however you would be very surprised how they can find such very difficult questions to ask on a not so difficult topic. you might think you know the material… then you take the test and realize you didn’t know it so well.