I was wondering how people prepare for finding out the actual outcome of L3. As most people on this forum I got killed in the morning session of the test and doubt that I passed the exam. While it will be embarrassing to tell my colleagues the likely “FAIL”, I am not sure how to think and deal with this worst case scenario of a “FAIL”. How will you deal with a possible “FAIL”? Will you simply try again next year? Will you consider amending your test taking strategy or study method (taking a course)? Will you simply get trashed and hope the bad feeling will fade after a few days? Will you not sign up for next year´s exam, as the opportunity cost of spending another 300-500 hours is simply too high? I understand that some of you might think that contemplating a particular result prior to knowing the actual outcome does not make sense and pre-mature worrying is a worthless exercise. However, I feel that it might be helpful to mentally prepare for either outcome (positive or negative) of the test. I wish all of you on this forum good luck and keep my fingers crossed that the pass rate will be high. Also thank you for all the valuable posts throughout this year´s CFA season.
I put in a good 700 hours for this exam and started studying back in Sept 07. I’m not even confident of passing. I can’t see myself going through this again another year. I’d rather spend the 700 hours reading the Economist, Financial Times, WSJ, financial blogs, etc.
If it was L1 or even L2, i might have considered putting up the gloves. But no matter how many times I fail, Ive dedicated to much to this and wasted some valuable time that it would be a shame to give it up. Big plus for 2009 though, which does make me feel a little bit better in case I fail is that the 2009 curriculum is virtually the same. There was a post on this a few weeks back and I actually sat down with the old LOS and looked at the 2009 los, and the only real change is reduction of 1 LOS (out of 48) and ddition of 1. The rest is pretty much the same only difference is that they moved around the sequence. I.e, los 47 last year is now Los 17 this year, but the mterial is the same. So by not even having a 5% change in material, those who fail will be MUCH better prepared for 2009. I had a few friends that didnt pass L2 last year and the material changed on them by like 35% so it was pure starting over. But for these minimal L3 changes, I’m pretty much going to be using my same notes, and focus EXTRA attention to the few small new pieces!! So we’ll be in goodshape next year!
I think you shouldn’t worry so much. The LIII exam this year was brutal and the passing score will be adjusted accordingly. I don’t know reis, but the other two are going to be IH*FSA, CFA and former trader, current charter holder soon.
There was a big propane tank explosion in toronto close to York University about 3 am last night. 12,000 people were mandatory evacuated. And you know whats sad??? The very first thing that came to my mind when I saw that was " Wow, imagine if that happenned the night before the exam and I lived in that area, that would suck" I was complaining about the heat wave we had and the lack of air conditioning that caused me to toss and turn the night before the exam, but imagine a fireball waking you up at 3 am!!!
I will just pass it next year 
all the best guys… havent been on AF long but i m liking it already… hope we all pass
its really interesting that its not until two weeks ago when i begun to seriously think about what next if i fail??? I agree that the am was a big blow, too long for the average person but i put all my hopes in the pm exam so i have no plan B. I just have to pass.
I just took LII and since I felt 50/50 about it I am considering betting $500 against myself passing, that way if I fail I just made $500 and if I pass the exuberance of passing will outweight the $500 I lose. Only tough part is finding a counterparty.
I am counting on a pass. If I fail, I’ll cross that bridge when I come to it.
IH8FSA Wrote: ------------------------------------------------------- > There was a big propane tank explosion in toronto > close to York University about 3 am last night. > 12,000 people were mandatory evacuated. > > And you know whats sad??? The very first thing > that came to my mind when I saw that was " Wow, > imagine if that happenned the night before the > exam and I lived in that area, that would suck" > > I was complaining about the heat wave we had and > the lack of air conditioning that caused me to > toss and turn the night before the exam, but > imagine a fireball waking you up at 3 am!!! Ih8FSA, do you live in the T.O? if so are you working downtown @ one of the big 5?
With friends and truck loads of beer…