three possible scenarios here cfacnyc89.
A. They lying
B. They lucky.
C. They genius.
That’s the way i see it when someone tells me they only studied like 4 days for it and passed.
Hi Cinderella,
I only wrote one timed practice exam and got 50%. For the other three exams, I basically answered one section at a time and reviewed the answers afterwards. I didn’t want to time myself because I didn’t want to guess the answers. Any tips or advice for doing practice exams?
for thoes of us that failed, i printed out a copy of my fail CFA notification and decided to use it as a bookmark on my CFA book as a constant reminder of what it exatly I’m studying for. it’s all about the little pieces of motivation that can help you get off your back and onto your feet and into the right direction that counts.
If you’re prone to “f**k it” moments, that seems like a bad idea.
Plus, I like going through the studying process in a positive mindset.
interesting perspective. first time i took the GMAT i got a 430, and they give you that little printed peice of paper and i clipped it onto my GMAT review book as a constant reminder.
i guess to each their own. i’m not too prone to “fu** it” moments so i guess i don’t have to worry about that too much 
D. They have significant background in this material already through work/undergrad.
Don’t get me wrong, I put a good amount of study in but I know a lot of people who have passed after just a week or 2 of study, certainly possible at level 1.
Here is what I did differently to pass it the third time around…
You can definitely do it! I started by watching the Schweser videos on the curriculum to just take a different angle than I had before. Seeing, hearing and reading/writing should be number one on your list for new tactics. The repetition really helps! The next thing I did was to start doing end of chapter questions from the official CFA curriculum and taking note of where I was having the most trouble. The end of chapter questions are a pain but they are really worth it. Then I covered those weak areas in the Schweser notes by reading them again. After that I took all of the quizzes in the Schweser notes and if I scored greater than 75% I would consider that section as mastered. After I took the quizzes and went over what I missed again, I started creating flash cards from what I missed. I kept these with me and I would review them whenever I got a chance. This took me from February to the end of April. (I got my December fail at the end of Jan.) In May I started practice exams. I bought the two CFA sample exams, I borrowed some old Schweser exams, got the new ones and paid $99 for the Boston CFA Society practice exams. All in all I tested about 2,280 practice questions. I saw many of those same concepts on the exams. Not in the same format but I already knew where the question was going. Whenever I missed a question I would write down the number and compile them as a separate test and then take those again. I made sure to space out the time so I wasn’t just memorizing the answer. If I kept missing the same question, I would go back to the curriculum and read that concept again. For one subject, probability, I found a kids website that helped me grasp the concept. I was also having problems with cross elasticity so I went to Khan Academy and watched some of their videos. The practice exams are key. Keep at it. You can do it!
Misswallstreet, some great advice there. If you dont mind, can I have link to that kids website?
thx alot
Band 4 for me, sigh. I plan on retaking it this December, though. It’ll be tough with holidays and football season coming up, but damn it, I’m going to retake it and PASS! Good luck to those who decided to sit for the Dec 2012 exam. Need to continue while we’ve got the momentum!
We can already register for December 2012, right? How much do we have to pay now that we already have taken level 1 does anyone know?
For those of us who failed, take this as a slap in the face and get motivated to own December! No excuses, no quitting. You started out trying to become a CFA charterholder for a reason or you wouldn’t have taken Level 1. You have realistically over 4 months now to build on what you’ve already done. Wherever you scored, band 10-1, you have a foundation now. We all know abouts where we need to be to pass, focus up on where you need it and brush up on what you know. It’s silly to quit now when you’re so close. And don’t give me this “too much time” excuse. I work a full-time stressful management job not finance related, I’m an MBA student with a wife, a 2 year old, and a newborn. Anyone who’s on the fence about retaking, I say suck it up and join us at the big party in December. The longer you’re away, the less you’ll retain.
Failed Band 10. The hardest thing for me is that I didn’t do poorly on any section. Was above 70% in FRA, Corporate Finance and Portfolio Management and the rest were in the 51-70% range. Its more frustrating seeing people who passed with a matrix that, on paper, appears weaker than mine. I feel that had I gotten that Ethics bump (>70) I would have passed. Oh well bring on December.
I did get some good advice from a friend who passed Level I and II on his first attempts. Granted he’s doing a part-time MBA program and has his CPA so he has a solid base of knowledge prior to studying for his exams. His advice was to play to your strengths. Like others have mentioned you don’t have to get 100% of the questions right to pass the test. If you can’t seem to figure out AI or derivatives for instance, then move on. There are 8 AI questions on the test and your better off focusing on a strength. You’re more likely to get a few more questions right in say Fixed Income (if that’s a strength) then you are banging your head against the wall with AI. Just an idea for those who are looking to try something new.
Good luck to all.
Looks like it’ll be $515 for those who failed June 2012 and plan on re-taking it in December 2012.
Buckeye, that’s why I completely hate that we don’t get our complete scores. It would be great to really see where we comparitively are VS a matrix that doesn’t truly illustrate it and works in generalities. I got that same advice before I sat for this exam. I think that’s better advice the closer you get to the exam. I’d say that being 4 months out, start crunching on the stuff you don’t get. As the exam date approaches, if you still don’t get it, start building up your strong points and try to maximize those. Good luck to ya! I want our coach back, BTW 
I would try it at least one more time. You probably have your best shot at passing L1 ahead of you.
Think about it. You’ve already put 300+ on it. The material is still fresh in your mind, and you can almost jump right into practice tests and weak areas. That is a luxury you won’t have on L2, and L3…so I would say go for it.
Only after failing in December I would give it some thought at not pursuing the designation any longer…but not before…
ss89. Where did you see $515?
People who say they studied for 4 days and passed are lying. No matter how smart you are, you aren’t born with the knowledge of how to calculate the variance of a two stock portfolio.
guyz i failed too…with band 4…feels pathetic…i did study more than 300 hours but perhaps did not practise enough and some of the concepts were not clear…i did manage to do well in Ethics and FRA though…can someone please share a study plan of how to tackle this in Dec 2012?
totally demotivated 
You’re absolutely right. I doesn’t really matter how smart you are or what do you do for a living. Concepts are easy enough to be learned by anyone with an average IQ. The big challenge is to memorize all those concepts in so many different topics, and that takes time, regardless of your job, years of experience or IQ.
Sweta85s,
Hang in there. I understand you frustration and demotivation. I can’t speak to how “exactly” you should study as everyone learns differently. However, many of my friends who have successfully navigated the CFA Level I exam constantly remind me that its all about practice exams and question repitition. I would suggest going back and looking at the CFA provided books (particularly in your weaker areas) if you have not already done so. At about a 1 1/2 to 2 months out start taking practice exams. I think the one thing I regret most was not taking the full mock exam provided by the CFA. I also think that having flash cards (which I made myself) on me at all times was helpful. My gf would just start quizzing me on car rides. Anytime you have down time when you normally wouldn’t be studying you can just quiz yourself on a few topics. Just my two cents.
Good Luck!