Does anyone else wished they included QUANT and FRA in level 3

Yeah - I also wish they would put man-eating velociraptors in all the exam rooms. I mean come on, what does C F A mean anymore, right??

I happen to also take actuarial exams, and believe me pierre, you wouldn’t want actuarial math on your exams. None of it is 3-minute qualified.

On the topic, to quote it directly from CFAI: “The CFA Program is a globally recognized, graduate level curriculum that provides a strong foundation of real-world investment analysis and portfolio management skills along with the practical knowledge you need in today’s investment industry.”

There you have it, investment analysis and portfolio management.

Quanghong, so then the CFAI should have called it the CFAPM rather than CFA. They should give members who passed level 2 to get the CFA and as an extra option if you write and pass the level 3 then you can call yourself a CFAPM.

^ On the contrary, you should have done proper due diligence before jumping into the program. It’s like asking the chicken to kill and cook itself so that you can eat it, only to bitch about how bad it tastes after you’ve consumed it.

The title (CFA charterholder) is just that, a title. Most of the time the title should be representative of the content. Not always though.

Most obvious example: doesn’t matter if you graduate in Maths, Physics, or Chemistry, you call yourself Bachelor of Science, nothing more. So I’m a BSc (in Maths), and I suck hard at Physics, who caressssss?

CFAPM = Chartered FAP Master :smiley:

I wouldn’t complain if there were more Quant.

I am SO glad not to have FRA on Level III, though.

I think it’s interesting that most people, after finishing L2, seem to believe IPS stuff is easier than Quant. It sure seems like it, doesn’t it?

Then in a few months you try to answer an essay question for which the CFAI itself can barely agree on what’s an acceptable answer (check the previous mocks) and you wish you could just choose the result with some hypothesis testing rule…

I think IPS is the easiest part to read/understand and yet the hardest part to get right in the whole program. It’s like Ethics became an essay and now is worth a huge chunk of the exam. I think that’s the main reason a lot of people fail L3 after passing L2 (those people already know they should know derivatives cold and what not).

Have fun!

No sane person wishes that.

I am sooo glad no more quant. I can take FRA anytime (majir accounting in undergrad), but am so doomed if there is quant

I’m sure most would agree that it’s a good thing that there’s a change of focus between 2 and 3. I’m certainly glad to face a different challenge after passing level 2.

i remember in the pm session of level 2 when i finished the last FRA item set I thought to myself how incredibly fecking ecstatic i was that i wouldn’t need to study that stuff again. cocky, yes, but it got me through the dire 2nd half of the pm session.

Actually i will miss quant and FRA. I think they are the most important tools in an investment professional’s skillset, so there can never be enough of them :smiley:

I’m not really into Portfolio Management. if if has anything to do with L1 and L2, it will involve theories with too many assumptions (finite variance & expected returns, normality of distributions, etc…).