Must be awful to fail as “band 10” it means you were really close. Feels much better to fail as “Band 7” (last year) or “Band 4” (the year prior).
For those who don’t know, if you fail you’ll receive an e-mail starting off with “I sincerely regret to inform you that you did not pass the June 20XX Level II CFA exam.”
And then, further on in the text, it will say “We have divided the full group of candidates who did not pass into 10 approximately equal score bands. Your score band below shows how your overall score on the exam compares with all other failed candidates. Your score band: X”
Last year I got my e-mail on 26 July.
Why does one repeat the exam when failing twice? Because it’s an addiction. Because when you look at each topic one by one, it doesn’t seem impossible to manage that particular part. And I suppose it’s because we all would like to feel how it is to belong to the exclusive group of people who have actually managed to pass all three exams and don’t like the idea of considering ourselves as former Level II candidates who failed and then simply gave up without trying properly.
I suddenly recall an episode from this year’s online seminars, where the lecturer asked for a hands-up on how many of the participants had done it before, and if I’m not mistaken half the group raised their hands (electronically of course) and admitted to not being first-time test takers.
That in mind, if a large portion of those who sit the exam isn’t first-time test takers, and the percentage who clears the exam is still so low, what does that say for the TRUE probability of first-timers to actually clear the exam at that level?
Maybe this is a topic we can discuss between 4 June and 26 July, there’s really no time for it now.
I couldn’t agree more on importance of a happy lifestyle, etc., but trust me, and I *really* mean trust me on this, that money is not it for me at all.
On why try it again, I think some people don’t give up easily…if people gave up after a few trials, humanity would not have advanced to where we are today! Also, more practically, people like yourself who are busy with work, commuting, maintaining social lives, etc., will probably need more than one shot at this. GLTA.
I agree with you Dreary, giving up on the exam would almost feel like giving up on yourself after having put so much effort into preperation…Having felt the exam went reasonably well last year I ended up with a band 9 failure.
How close were we with band 9 & 10 to passing?,it could have been literally 2-3/120 additional questions needed to pass.
I am slightly surprised at your reluctance to take mock exams, I have been doing them on a sturday morning for the last 3 weeks, so that my brain starts to understand that, this is what it does at the weekend!
Your comment substantiates my point that everyone seems to missing. I’m not advocating quitting and never would. If the charter is that important to you and finishing it is the world, by all means, keep at it until you accomplish this goal. My point is that it is much less important than many other things in life and has to be kept in perspective. I hope you make it through this year and believe you will. That being said, based on your comment, during the 6-8 months before you gear up for the next hurdle, you should dedicate 20% of the energy you place towards the CFA, to for starters, building and “maintaining a social life”. It takes far less effort, is much more enjoyable, and ultimately 1000x as rewarding. That is cost-benefit analysis.
2 weeks i thought for sure i wasnt going to pass or my chances were slim, i was gettin around 60% in mocks, now i put my head down and i and getting aroudn 70% in mocks and feeling way more confident…you need to get that feeling that you are gonan rip up the test (not actually rip it up) once u get that feeling u know u got it…just keep at it and study ur ass offf till D day and hopefully you get material you know
at this point doesnt seem like you can cover everything KILL FRA and equity and then concentrate on topics you feel you are stronger with and maybe completely give up on topics you dont understand. ie swaptions!
Dreary, I agree with the others who have suggested getting a start on the mock exams. The more mocks you do, the more familiar you will be with the ways they ask the questions and the less likely you are to feel “tricked” on exam day. I’m taking the exam for the second time (band 8 last year) and am hoping to knock it out this time. If I don’t pass this year, I’ll definitely sign up once again. Kudos to you for not giving up!
My question is, you failed 3 times…yet you are an active member of this forums. So you know that the great majority of people here do a lot of mocks and pass. Yet on your 4th time preparing you still decided not to do mocks?
Major props to you Dreary. This is my 3rd go at Level 2. Failed band 6 the first time (after taking L1 the previous December - major burn out, some big stuff going on at work, poor prep all around). Failed band 10 last year after an honest attempt. Soul crushing, so I seriously admire you for pressing on. We’re gonna get it this time!
L2 reminds me of the CPA-FR section, much of the exam is based on testing tricks, so one can only pass by “memorizing” the problem framework enough so that no time is wasted on setup, but in finding the tricks.
