Hi everyone, who have already taken Level I, My friend is in his third year in college and wants to take June 2008 Level I exam with me. He knows that one of the requirements to register is to be in the final year. However, he hopes that since passing Level I does not nearly grant the charter, they don’t really check the education. Can anyone comment on that? Thanks!
I’d recommend against it. If they do audit, he’s screwed as far as getting the CFA, and likely word will get around and he’s out of luck in the analyst community. And in any event, if he’s in third year, he probably has a slight enough finance background that the likelihood of passing is pretty low (and the cost is high). So, on a risk-return basis, I don’t think it makes sense.
I absolutely agree with busprof but does anyone knows this for a fact?
Breaking CFAI rules before he is even out of college and mitigating it by “it’s ok if I dont get caught”…great way to start an ethical career
The chance of actually getting caught is probably pretty low. But the consequences are extremely bad. So my guess is that the “expected” cost of getting caught is likely pretty high - for the sake of one year, you end up torching a career. As I get older, I learn more and more how often prior misdeeds come to light eventually. The truth eventually outs. I would guess that if he managed to pass, he’d eventually brag about it. And all it takes is having ticked off one person for that information to eventually get to CFAI. What is he trying to accomplish by taking it in third year, anyway?
sergei Wrote: ------------------------------------------------------- > Hi everyone, who have already taken Level I, > > My friend is in his third year in college and > wants to take June 2008 Level I exam with me. He > knows that one of the requirements to register is > to be in the final year. However, he hopes that > since passing Level I does not nearly grant the > charter, they don’t really check the education. > > Can anyone comment on that? > > Thanks! do not do it under any circumstances. if the lies start there then it will only get worse. personally, what the hell does one want to do more work than one as to. life is for living!
3rd year of college is strictly for having a good time and occasionally stumbling into a class or two.
Sergei- This depends on where your friend studies. In South Africa, some business/commerce undergrad degrees are only 3 years, and when you graduate, you can do honours in your fourth year. So, since i’m from sunny South Africa ,when i was in 3rd year i did level 1 and CFA had no problems with it… tho i guess it depends how long your degree is…ie-3 or 4 years. Anyways, no sense in having to lie before he checks with CFA on where he actually stands!
Thanks for your message Sha_CFA, but he really is in a 4 year program. However, he is convinced that CFA does not check education as part of a registration process for the Level 1, so he put in the application that he’s in his 4th year… We’ll see how it turns out…
What a moron. I have a great career partly because I spent year 1-4 of my undergrad trying (and here and there succeeding) to score chicks and drinking lots of beer with my mates. Actually, if someone comes for an interview we find it very important that he/she finished his studies but always ask for what he/she has the priorities in life straight. We don’t want nerds but people with a good sense of business and great to discuss things with in a pub. Nerds suck, they will never last anyway.