I read on a prior post that CFAI is considering a Level 4… can anyone confirm or deny this?
Pretty sure they were kidding. Haven’t heard anything about it. I doubt they could find enough material to scrap together another test… Level 1 = basic finance undergraduate curriculum Level 2 = analytical tools for financial analysis Level 3 = portfolio management theory
I can confirm that the person who said that is a retard (cfafrank). On grounds of common sense I can deny the rumor.
Ha, ok, thanks guys!
That would make sense as I am now preparing for Level III. Could you imagine if there was another test? What a nightmare.
Not a chance. They could never establish a cut-off point and say “you all have to take L4, but you don’t”, and they can’t make charterholders / people who already took all 3 levels come back for another test.
Total nightmare. Even these 3 levels, I often find myself asking if it is even worth it. Sometimes people ask if it is “worth doing” and I honestly don’t know.
Heard that. A couple of more weeks we weill be done. I can hear myself now “that wasn’t so bad.” I am going to be so hammered at my buddy’s wedding on 6/6/09.
I tell them it’s not. Unless I secretly can’t stand that person, then I tell them to go for it assuming I won’t have to see them for another 3 years if they take my advice.
they could probably add it. but i think anyone already in program, including candidates, would be grand-fathered… highly doubt it’s true. i mean, i think it would just be more multiple choice.
hotCFAbabe Wrote: ------------------------------------------------------- > Total nightmare. Even these 3 levels, I often > find myself asking if it is even worth it. > Sometimes people ask if it is “worth doing” and I > honestly don’t know. I have a hard time answering that question when people ask if they should take L1. Especially since sometimes you can tell immediately when someone doesn’t have the ambition / willpower needed to finish the program. I usually just say how hard it is and try to give them an idea of how much time I’ve put into this, but that it’s good knowledge and you’ll learn a lot if you stick with it.
What they can do is split a level into 2 and going forward have 4 levels. I think the FRM did that split into two levels instead on just one. But as most standards in GIPS, the above cannot be applied retroactively P.S. with the exception of changing a benchmark
now that i think of it, it would be hard to do… i think the two streams would need to do completely different exams?? and then it would be pretty funny with people who were slow or took a break. they might be only one writing an exam at a less busy center.
They always could do it, but you got to figure that one they would have to give a year or two’s notice, grandfather all candidates that registered previously, and would need to make more than Level 1 offered more than once or twice a year. Or they could offer a Level 0 that covers Fundamentals and make it a prerequsite for people without a business background (and offer it at an electronic testing center). Or we could just assume that this was an April’s fool joke and move on.
During the online Schweser class back on 3/31, Dr Bruce announced that the idea of adding a Level 4 had gained a lot of popularity, and it was a strong possibility that it would be added next year and current Level 3 candidates would have to take it. The admin must have been getting flooded with panicked responses, b/c after starting his lesson a few minutes later he announced that it was just a April Fool’s Day joke one day early.
Black Swan Wrote: ------------------------------------------------------- > I tell them it’s not. Unless I secretly can’t > stand that person, then I tell them to go for it > assuming I won’t have to see them for another 3 > years if they take my advice. Swanny, you are particularly crotchety this year. Everything OK?
Yes! L4 will be next June. I guess when you do not pass, it becomes L4, then L5, L6. Let put it this way. If you have been in the program for 6, you are technically an L6:-) I think.
they changed the experience requirement from 3 yrs to 4 yrs, i dont see why they wont consider adding cfa to 4 levels. if you looking at other professionals, such as acturarials, they do have like 10 levels or something, so it is not uncommon to add another level plus, they can make much more money
monki Wrote: ------------------------------------------------------- > they changed the experience requirement from 3 yrs > to 4 yrs, i dont see why they wont consider adding > cfa to 4 levels. > if you looking at other professionals, such as > acturarials, they do have like 10 levels or > something, so it is not uncommon to add another > level > plus, they can make much more money But you may one book for 3 levels
actually they are thinking of a level 4 it will cover how to negotiate your compensation package under TARP guidelines and the ins and outs of operating a ponzi scheme