Majority of people fail is because they don’t have a right study regiment, just like majority don’t succeed at fintness because they don’t eat right.
You can argue that point, but that is pretty much the truth with preparation for any activity that takes a long time. You can look at how boxers prepare for matches. They have to start training and the right time, take rest at the right time and peak just in time for the match, not earlier not later.
People can fail for any number of reasons. I breezed through level 1, and found it to be a piece of cake. Level 2, I failed not once, but twice. In addition to becoming more lazy with my studying, other things in my life started happening. My workplace was gradually turning more sour, and I was becoming more miserable. The behavior of my bosses was becoming more abusive each day, and I was desperately looking for another job. I sacrificed a week’s worth of vacation days for my third attempt at level 2, and I was almost at the height of my misery. I felt I did very poorly in the exam, having barely slept at all the previous night. My workplace was quite hostile already, with people quitting left and right. I stayed simply because did not want to quit before finding a new job.
Yet, miracles do happen, as do happy endings. I was ready to throw in the towel should I not pass. I was so certain I did not pass that I didn’t even note when the results were coming out. I couldn’t believe my eyes when the e-mail came and said I had passed. Three days later, I received a new job offer, and quit my miserable job. I dropped the resignation letter on my bosses desk 5 minutes before leaving to the airport and taking a vacation. Best week ever
I have a nice job now where people are treated well and my life in general is a lot happier. It’s not a coincidence that I felt pretty good about level 3 this year and am hopeful. A candidate’s personal life situation can really have a big effect.
My point was not to try to discourage anybody, but to get them to think. Yes, as was said earlier, maybe the reason that you didn’t pass was because you had some one-off event happen in your life close to test time (new baby, parent died, got mono, etc.). But let’s be honest with ourselves–even thought I’ve never done a vast study of why people fail, I’ll bet my paycheck against yours that the #1 and #2 reasons that people fail is 1.) didn’t study enough, and 2.) it’s beyond their mental capacity. And if you fail more than once, you should decide if it’s #1, #2, or if you can muster up the testicular fortitude to pass it the third time.
I was honest about the fact that I failed Level 2, and that it was because I didn’t study enough. I have also flatly said that I will not take Level 3 again if I fail (in another thread).
And I don’t think that I need to pass Level 3 to give this kind of advice. I have taken many tests, and I have passed them all. This advice is somewhat universal to all tests, but particularly useful for one that’s only given once per year and takes so much effort to study for.
I love it when Level 1 Candidates come on here and pretend like they know what’s in store for them. And I find it curious that a Level 1 candidate should berate a Level 3 one about how “it’s not a big deal that you’ve cleared Level 2 and maybe Level 3.”
@heyjude - If you’re in the 25% or so who pass Levels 1 and 2, then get to Level 3, then feel free to come back here and give me some lip. Otherwise, keep your mouth shut.
Well am a level1 candidate from a non financial background, I’ve been enjoying this thread so far but this is the first time am posting in the thread. @Greenman72, while I think your choice of words are harsh, many of what you have been saying are true.
I want to declare the fact that I am not DEFENDING Greenman72, but rather, i find some of the comments above quite funny…
First of all, this is a forum, people speak their mind, from their own experience, OF COURSE IT’S SUBJECTIVE! Do you truly expect people to have gathered 500 surveys and to provide you a statistically sound opinion?
Second, for those L1 candidates who think “L3 or charterholders know nothing more than others, so please keep your mouth shut”… well we do, at least in terms of the CFA exams… and if you truly do not need this information because you have acquired everything you need to know about CFA from another source, GOOD FOR YOU! Then this is probably not a thread that benefits you, and you need not to search the forum on such information because it’s just going to be a waste of time for you… much like responding to an “useless” thread.
While i think everyone studies very differently and have different backgrounds going into the CFA program, I asked for advice when i first registered for the program, and i didn’t expect each person i speak to had the “right answer”. It was obviously up to me to analyze other people’s opinions and try to apply to my own’s situation.
Keep talking, am listening. Let me state that some people may not be posting but that does not mean the information is not useful to them. I’ve been following this thread since the first day it was opened.
Do you really need to call anybody that disagrees with you an idiot? What is being said to you by certain other fellows (and me), is that you come off as someone who has too high an opinion for his advice. The fact that I disagree with your advice is just a tangential circumstance.
While most people in this forum seem to appreciate input in all forms and they most likely just filter out what they don’t like, humility is appreciated and generally is a sign of a balanced person.
^Wasn’t directed at you, Panos. You disagreed with me and you stated why. That’s fine.
It was directed at the person who said, “Well, you gave your opinion and it isn’t a fact.” Well, no fkn sht.
It was directed at the person who said, “Well, different people are different and have different situations.” Again, no sht.
It was directed at the person who said, “I’m a LEVEL 1 CANDIDATE, and that qualifies me to tell a LEVEL 3 CANDIDATE who has also passed the CPA EXAM and the SERIES 7 AND 66 EXAMS to shut up because his advice on passing exams is stupid.” To that person–pass one exam before you come back here and shoot off your mouth about what advice is and isn’t appreciated.
I’m not contesting the validity of your experiences or advice. Neither am I contesting your integrity. But then again, just because I am a L1 candidate does not give me lesser speaking rights or that I am not entitled to my opinions. You just can’t stand someone like me who is not on par in terms of exam progress to disagree with your experiences.
Any well-meaning advice is definitely appreciated from you. Granted, actually I find your point of view does make a lot of sense on many levels, but it is the way you put it across that reeks of arrogance. Lacking humilty and simply insisting that your worldview is the be-all end-off is a turn-off. Right, being a L3 candidate definitely puts you higher than me in the pecking order of CFA examinations. Right, having an MBA in Finance and passing your country’s CPA and Series 7 and 66 exams maybe also puts you at the higher pecking order too. And makes you HOT in this forum, maybe. But putting down and passing disparing comments to other down the exams pecking order is NOT hot. Who hasn’t taken exams before? If you have followed my posts, i have also completed my country’s CPA and also ACCA program, all the while holding full-time relevant accounting jobs (i have never studied full-time after high school). What I am trying to say is, everyone has a story to tell, of struggles and losses and lessons. Your experiences are not unique.
Also, one doesn’t need to be intelligent to realise how tough the the whole CFA process is, from Start to Completion. A fool can even tell that the whole process is very tough and most people are attempting the exams under trying personal circumstances. Fewer than 10% complete the full course anyway. Just because I am a L1 candidate and never voice it out doesnt mean I intuitively have no idea how hard L2 and L3 will be (L1 is challenging enough already.)
Humility has nothing to do with passing X number of exams and having Y number of qualifications. It came across naturally in your discourse with others in the forum. If you want to show off your higher social status in this forum, I have no issues with that. Don’t think anybody else will have any issues with that either. Calling others ‘idiots’ who dont necessary see eye-to-eye to you is just… plain arrogant man. But of course, this is a forum, you can say whatever you want, call whatever names you want.
Just as much as everybody else here is entitled to their own opinions.
I’m getting a bit tired of L3 candidates who boast about their skills. The only thing we can give legit advice on this forum is how to pass L2 and L1 obviously(and whatever heartaches it causes). Boasting about L3 supremacy is like winning a SEMI-FINAL. We still aren’t their yet folks.
Here’s my advice for all you candidates out there. The truth does come to how bad do you want it. Listening to other people on what you can or can not do is foolish. I failed L1 twice and still wanted it. I failed L2 once and still wanted it. If I fail L3, guess what, I’ll retake it again cause I still want those damn letters! Succeed at any cost mentality will get you through life and you will succeed. Looking for cop outs won’t. You decide what you can do. If you failed, it’s because you didn’t study enough and put that work in, PERIOD. If there is such a thing as natural talent out there, it only means someone may catch on quicker than the next.
Exactly my point. All these people who pass two levels of the exams and give useless advice is a joke. Sure this is a forum and you can express anything you want. But atleast give sound advice and now just bullshit which waste people’s time.
L3 candidate only knows exam content and should give advice to that for L1 and L2. You are not approved to give life lessons.
People are allowed to have opinions and perspectives. Oftentimes someone who failed L2 can offer valuable advice if they understand why they failed or how they want to do things differently. Someone who passed L2 has different advice, and it may be more valuable, but not always. It’s counterintutive, but knowing more doesn’t automatically translate into teaching/communicating better - similarly, passing more correlates but doesn’t automatically translate int “gives valuable advice.”
There is something about the “if you don’t agree with me/have been through exactly what I’ve done then STFU” that doesn’t go down all that well with most people.
I think some people are a little too convinced that their experience is the only way you can experience the exams, and apply lessons that worked for them too categorically to the rest of the world.
And people seem to feel the need to call each other idiots too easily. It’s not prohibited, but it’s often unnecessary, and generally doesn’t reflect well on the person berating the other.