painful … i know - i failed it on 1st try in 2013 - band 7, tried to retake it in 2014 but could not due to work - had to withdraw, and finally finished it in 2015. Loooots of hours spent - but i think you need to look at some silver lining:
Much easier to remember materials in L3 vs any other levels. So taking it 2nd time - does give you and advantage over many others.
It is tough especially since there is no feed back, as to what you did wrong. I felt same way when i failed - no way did should i get < 50% in so many subject. What you can do though now, CFA will release the Essay (AM) portion shortly with guidle line answer. At least you can review that, and try to determine what you answered incorrectly.
In the end, i found that even though i thought i was somewhat prepared on 1st try, i really was not. Just too many details/small stuff i possibly overlooked.
One thing i hope you guys are doing - write down your practice/mock AM answers and do those in a timed situation - i.e. make sure you time it, and actually write the answer down on paper (vs. thinking about the answer in memory & figuring out you got the answer). Then critically grade your answer vs. CFA guidleline.
Finally - you really need to make an effort to score >50% in every single area in PM. That’s the key to passing - hit a home run in PM. This is easier to do, just practice lot of Qbank, mock exams etc. This will act as cusion/buffer against AM - which is rather tought to maser.
Another aspect in AM, you need focus in the questions you know well, and spend enough time there - and make sure the ones you do know you manage to score over 70%. I had 4 less than 50%, but managed around 5 over 70% in AM. I did not waste time in areas that i did not know - thought some things for 30 secs if it didn’t come, i left it blank (hence 4 items <50%). But the ones i did know - i made sure i spend enough time, and wrote down in nice logical order.
Feel your pain … Band 10 fail is the worst thing that can happen. I failed L3 once with Band 7 - at least i know i was somewhat close, but not where you’re thinking whehter 1 or 2 multiple choice could’ve made you pass or not.
Based on what i read, difference between bands could be like 1% or so. So pretty much perhaps 1 or 2 multiple choice or even part of an AM questions will push you through.
On bright side - L3 materails are lot easier to remember, so doing it in 2nd try is much easier and gives you an advantage (can’t replace real expeirence in taking the exam).
Dont give you. I would say focus on PM - make sure you do very well in PM - that’s the easit path to success. And for AM - you just need to try your best. I strategy was to focus & make sure the ones that are easy you spend enough time on those, and score max points. And the ones you had no idea - leave them blank if needed, but don’t waste any more time than is allocated.