Despite all the time put in (350 +) and all the mock exams (5 in total averaging 70%) I still couldn’t make the cut and got stuck in band 10. Honestly I think my nerves failed me because I was extra nervous the night before, and on the exam day itself I was extra cautious and completely lost track of time. I was guilty of overthinking questions looking for complexities where there wasn’t any and this left me short on time and rushing through the last 15 or so questions in the last 8 minutes of both sessions (just checking random answers without even reading the question). So it all comes down to nerves. Any suggestions on how to approach the exams in dec?
One things is as certain as day, I’m not giving up. Not now. NEVER!
it would be great to pick your thoughts on which approach you think is most appropriate given the circumstance. Reread everything from scratch? focus on the 5 areas I didn’t ace (50-70%) ? or focus on the 2 areas I flunked?
There are some other topics by those who had failed in band 10 and succeeded in the 2nd attempt that you can look at and take some ideas for your own studying plan. Based on what you shared, I think exam skills/time management skills are very important besides areas you didn’t ace. Save time to practice it as well!
Honestly, I don’t have many things to give cuz I am taking the first CFA exam in Dec. However, speaking from my experience with others exams I have done so far in my life I can say that skills are the key. For those whose English is not the 1st language like me, I even have to practice “question reading comprehensive skills” :)). Anyway, good luck and don’t give up…You are almost there :).
Thanks for chipping in LakeHouse. I’ll look for the topics you talked on. Yep, time management skills is critically important. Of equal importance is the ability to trust your guts and believe in your prep. Otherwise you’ll become as insecure as I was and that’s not a great state of mind to step into the exams in.
Despite the fact that I posted on this forum that I was gonna do an absolute tonne of work (e.g. All EOCs, elan mocks, schweser mocks and Qbank), all I did was 3 months of study and passed.
If you got a band 10 you already understand the material pretty well. Just put in the effort to read the material again - schweser notes for the stuff you did well in and CFA for the stuff you got less than 50% in - and do all CFA EOCs and at least 3 mocks and you’ll do it.
Also - make sure you study Financial Reporting & Analysis early. By being able to go through this topic at a leisurely pace you will find it easier to retain the concepts. I did this and got over 70% in the exam in this area which was a massive help considering that it was worth 20% of the exam.
I would also recommend introducing Qbank for ethics as well as mock exams during your final 4-6 weeks of review. Write down the questions and solutions for all questions you are unsure about or get wrong and you’ll nail it.
Hi Jt, sorry about the band 10, but good luck if you are re-writing in Dec, I am a June 2014 keener, do you have any insight on how the rsult break up was? Also, what stuidy material did you use, I had a friend writing June 2013 said the questions are something that she never saw before, where can i get a true representation of the actual exam.
Guidance please.I have started studying already, any tip would be a great help, also I do not have any finance backgrpound.
I failed the exam last Dec ( band 9) after studying every day for more than 6 months but leaving the wake up call towards the end ( took only one CFA sample exam & the 2012 CFA mock the week before the test). I knew I was going to fail as soon as I got the sample test results despite feeling confident about the material since I reviewed the material using both the CFA curriculum as well as Shweser notes. I reviewed very well but did not allocate time to have another comprehensive review after the CFA sample & mock exams to work on my weak areas.
it was very hard to accept failure though and I had a difficult time getting back to the same topics again. I started studing for June exam on March ( twice or three times a week ). The extra thing I did is that I did all EOC questions to test my knowledge and ignored reading the material except the topics I failed in the EOC ( less than 70). I did both samples ( two weeks before the test ) and the CFA mocks for 2012 & 2013 ( I did 2012 Thursday before the exam ). I got into the hall feeling that I was going to fail again and I got out feeling that I passed. IMHO, I felt that Dec exam was way harder than June. Do not get decieved by your score band and it is very unlikely that you will encounter the straightforward test we had last June. I feel that the CFA sample test were harder than the CFA mock exams while the mock exams were harder than the real test in June. I think that the 2012 December exam was harder than sample, 2012 & 2013 mocks and 2013 June test.
Don’t give up. I’d recommend that you practice your timing. Practice the mock exams under timed exam conditions. Also, add in the extra hour at the beginning to similate getting to the testing center and going thru security. This should help you manage the strees on exam day.
I failed CFA Level 1 twice. In Dec '12 - Band 1, June '13 - Band 5.
I have been using Kaplan Schweser (2011) material which I bought in ebay. I plan to take the exam again in December '13.
Please suggest, if I have to buy the latest Schweser (2013) material or use my 2011 Schweser material for preparation. Or is there any better material which can help me succeed. Also I did not take any mock exams before the test, that played a role too in my previous two attempts.
I don’t think 2011 is that old, however, did you read everything cover to cover? and truly understood all the concepts in the study guides?
If you are already reading a condensed version, you MUST learn everything inside and not be mediocre in any topics.
I think if you tried twice with undesirable results, you probably should switch up the strategy. Try videos and lectures perhaps? Try joining a study group? Try doing more mocks or questions bank?
So…you scored in the bottom 10%, then scored right in the middle of the pack (for those who didn’t pass).
Whatever you’re doing–stop doing it, and do something different.
Should you use 4 year old study materials or new study materials? Hmmm…that’s a tough one. I’d go with the 4 year old stuff. The money you save on buying 2014 material will buy you another seat for Level 1 in June 2014.
You failed band 1, meaning you possibly got the lowest score in the entire world. Then you decided not to take any mock exams the next year (again)? Then you failed band 5. I guess the aphorism “learn from your mistakes” is lost on you.
My .02 - stop. Don’t keep going. If (and this is a really really big IF) you get past Level 1, you will probably never pass Level 2. You lack either the ability or the effort to pass the CFA exam.
i prepared by self study using schweser notes along with my college studies .
i just completed my engineering graduation this june and will start working in september. I have no finance background and now ( after failing ) extremely confused (read dejected) whether i should retake test in december . iF i do then how should i prepare now. i got 4 sections > 70% , 4 sections in 51%-70% and 2 in <50%.
You are perfect with your prep and just need to calm your nerves. Practice a lot of Mock test in exam like conditions giving yourself 15 min. less than actual exam duration and do this at same timings of original exam. Do this for as many mocks as you can and ou will find yourself in much comfortable position in real exam. think as if you are giving a mock in real exam!!!
Im with you there. Failed Band 10 and did 350+ hours. Just have to concentrate on the sections that were not to good (Econ and Quant). Dont worry we will get there.