I got Band 10. What do I make of my result?

Band 10

Topic Max Pts <=50% 51%-70% >70% - Alternative Investments 10 - * - - Corporate Finance 17 - * - - Derivatives 12 - * - - Economics 24 * - - - Equity Investments 24 - - * - Ethical & Professional Standards 36 - * - - Financial Reporting & Analysis 48 - * - - Fixed Income Investments 24 * - - - Portfolio Management 17 - - * - Quantitative Methods 28 * - -

@dejavu Exactly the same result except you’ve got 70+ in 2 subjects where as i got 70+ in one subject. How much time did you study in total.

I study for hardly a month…

I only studied for 2 months hardly with 15 days of practice, i think our major reason of failure is lack of preparation. What is your strategy for june 2016 attempt?

Using the wrong method to study. 1 month with the last 2 weeks of studying should be enough for level 1. My experience has taught me that you dont’ recall much information after a month.

But you are so close from passing. Definitely try it again since now you know the format of the test!!!

I read through the schweser notes quickly (finished within 10 days) and then just did practice problems/practice exams. I did ten full exams before the exams.

Passed with six weeks study time - while working. It’s definitely doable.

Remember, the most important thing about this exam is RETENTION. Level 1 is not hard (for the most part), it’s just about how much of it you can remember.

Finally I found someone who would agrees with me. TheBigCheese, you definitely earn it. If candidate has some financial background, you shouldn’t even need to read the schweser note. I would just go straight to the mock exam, do the first one and review the mistake, repeat the same process for other year’s mock over and over again.

Thanks man. People definitely overthink level 1. Paralysis by analysis

Surely depends on your background. Someone without a financial/economics degree but numerate would takelonger to grasp concepts. Looking at days/weeks etc is misleading

Case in point - i could study 10 hours per day for a month - that’s 300 hours.

Aim for as many practice qns and tests as you can

Also depends on your motives.

There are those who simply want to have three letters following their name, then there are also those who are legitimately interested in learning the material to better themselves as investment professionals.

Each to his/her own.

I would say you should think bottom up now, will CFA help you to get a job?

I passed level one but I’m going to stop it now because unless you are super good at networking or top 10 mba guy its hard to get there.

People are writing exams and exams without having a sense that how industry is shrinking and people are fighting for limited number of jobs with professionals with years of experience.

Not trying to demotivate you but you should thank yourself and think about it. Finance is exciting but not when you are unemployed.

Hi Folks, I failed CFA level 1 December 2015 exam in band 10. My score was under 50 in Derivatives, Portfolio mgmt, FRA, between 50 and 70 in all remaining subjects except Equity. I got more than 70 in Equity. I think I failed because of very few questions in FRA. I was studying with full dedication and I am a very optimistic guy. I will crack level 1 exam in June 2016.

In that case, why even sit for the test? You sit for the test to get the letters after your name. There are hundreds of other ways to ‘better yourself as an investment professional’

I failed June 2015 with Band 10, all i did was not to give up and to try again, and it paid off.

You are familiar with the concept now, but dont be carried away with the fact that you are familiar with the concept for you to now relax.

Read through again as if you are reading the materials for the first time, and create a lot of time for practice problem.

Wish you all the best for June if you decided to take it.

Cheers guys.

Indeed, but if you work in the industry then you surely understand that a respected credential may help in your career progression. If you are seriously saying that there is no value in picking up knowledge while working through this program, remembering that not everybody is as smart as you clearly claim to be, then your opinion is very misguided (at least in my view).

I’m agreeing with you that it’s a respected credential and that you’ll learn something, where I don’t agree is that the CFA is the only way to learn what the cirriculum has to offer.

If you want to learn about valuation (for example) just to add a little spice to your life, you don’t have to sit for a CFA exam to do it.

There are CFAs that understand the material more than others, no doubt, but anyone who takes it is doing it to have the letters follow their name.

I’m not saying I’m smart either - my strategy worked for me for level 1 and I got the outcome I hoped for. End of story