That’s exactly what this article also says and what I’ll also do! http://bit.ly/Failed-CFA-Exam-What-Now
A+ post. Good luck next go around for everyone trying again.
@VWJETTY: I think using your notification as motivation is a great idea and I’ll follow suit. I’m also band 10 and your footnote says it all. I don’t know if I should be ashamed of myself because of all four of my classmate that have taken L1, i’m the only one that flunked, or I should be proud of my self because i didn’t do so bad given that I have no Finance related experience (and they all had 3+ years of solid finance experience).
Econ and Quant <50%, Equity, Alt. investment and Derivatives >70%, the rest between 50-70%. I think I have my work cut out for me; push Ethics and FRA >70% and Quant to >50%.
Sorry to hear the bad news from you guys but I scored in the band 7 range last June and questioned to even take the exam again. I did take it again and passed this June due to refreshing and working on what subjects I already knew I was weak on. To any of you who are questioning whether to take it again I highly recommend it. As most of you already stated you’re 300 hours ahead of the recommended study time and it’s still fresh in your mind. Good luck and you will nail it in December.
Also, I recommend using the practice questions from the CFAI material and I used Arif Irfanullah’s videos on his site to help the material sink in since he reviews the CFAI material specifically. Everyone has their own preferred method of studying, I just found this way to be the most effective for me.
Sorry to hear that you didn’t pass… I also failed the Level 1 exam - was in band 7. I’ll definately retake it as (among other things) I was relocated for work to a different country and basically didn’t study anymore after mid-April. Guess I put in approx 120hours… The exam results perfectly reflect everything I studied and everything I skipped. Hence, I’m pretty confident that the December exam will be doable.
Good luck to y’all!
Don’t give up, the number of advantages of getting the Certification are more than plenty - from employment to all sorts of other advantages. CFA is the most respected certificate in the finance industry, and that’s saying a lot!
Prepare a Game plan and stick to it. Have a buffer in whatever you decide and have sufficient time for mocks, revision. Have a schedule and give it our best and I am sure this will take you next level.
Not to burst anyone’s bubble here - but if you REALLY studied your butt off and did everything that you can and failed Band 7-8 or below, I would quit Not because you might never pass Level I - I actually think you will if you take it again and again, but Level II is soooooo much harder. So if you put your heart and soul into Level I and still failed, might want to rethink it.
Agreed. See my thread, “Fail me once, shame on …you” Basically, the premise of the thread was that if you fail any level more than once, you should really think twice before you sign up for the exam again–especially if you really studied and busted your butt. This is especially true at Level 1, because Level 2 is so much harder, and Level 3 is harder than Level 2, plus you have exam fatigue to worry about, too.
I agree but also disagree in some sense, because a lot of level 1 candidates start the program when they are SOOOOOOOOOO young and they barely know how the market works or have any prior knowledge in finance whatsoever. So, even if you study a lot for level 1 it may still not enough to get through. But this is not to say that the same person can’t pass the exam a few years later with better knowledge and wisdom. I guess it really depends on the individual, i still believe anyone can possibly make it through, but it depends on how much you want to or can sacrifice. if you quit all your jobs and study for the exams full time, you may be able to pass, but is it worth it? who knows.