Level III Fallacy

I read a previous post that discussed the level of difficulty of Level III. It is a fallacy to presume Level III is easy. The high pass rate is not indicative of the level of difficulty but rather the fact that candidates who have successfully past two levels (and have to a certain extent an informational advantage in regards to preparation and expectancy). This exam will be an absolute battle of attrition…So in the words of Sun Tzu: ‘Making no mistakes is what establishes the certainty of victory, for it means conquering an enemy that is already defeated.’

Couldn’t agree more…

I think you could

my scores are way better on practice exams compared to L2, i am more prepared, studied more yet I am JUST NOT confident…anyone else the same?.. please reassuer me we’re gonna pass this…

Its strange I think a lot of us are equally prepared, we all might be confident on 90% of the material. But my 90% might be different than your 90%. Come exam day There could be two Vignettes that are in my less confident 10% and I fail… Sad reality

I feel prepared but it seems every time I come on here I see a really good post from MGG, Volkovv, Pimp, CompSciKid, Big Willy, 3rd &Long and a slew of others that make me extremely nervous!!!

i dont want to jink you, but you and volkovv will pass.

DUDE! that’s like the equivalent of a KISS OF DEATH!.. can’t believe you just did that… GRRR! I hope you were referring to MGG :slight_smile: lol

Oh I’m nowhere near confident yet. I scored a 50% on the CFAI sample a couple weeks back. Beat that. 50%.

volkovv - how many hours have you studied for? you know this stuff better than schweser

PJ, your strength is your ability to put into words your thoughts. that will be valuable come exam time. i believe i know as much as you for this exam, but have trouble putting words to my thoughts.

volkovv must have an extensive amount of experience in this industry. i don’t think studying alone can make you that knowledgeable.

former trader Wrote: ------------------------------------------------------- > PJ, your strength is your ability to put into > words your thoughts. that will be valuable come > exam time. > > i believe i know as much as you for this exam, but > have trouble putting words to my thoughts. Ironic that you mention this because what I’ve been doing lately is on my way home from the library is trying to explain to myself the concepts I’ve learned so that when I see it on the exam, I have a somewhat concise and intelligent answer to give them. I think it’ll be important for all us to not just remember it but find a quick way to jot it down to get the marks and be efficient with it. As for confidence though, I really am not confident although I’ve put in probably 50% more time on L3 than I did on either L1 and L2.

P.S - Volkovv is what all CFA candidates aspire to be! The guy’s knowledge is sickening! :slight_smile:

OK. I have thought about this issue long b4. From one point of view L3 is the hardest, coz only 60% of those who passed L2 can pass L3. That makes L3 harder than L2. But here is another issue. If on average lets say ppl can pass L3 on 4 attemps and L3 on 3 attempts. Now although pass rate of L3 will be less than 100% one may conclude that L3 is easier than L2. SO my first conclusion becomes invalid. For us it’s not easy or actually impossible to determine which one is harder. We need much more data and an extensive model to calculate the difficulty level. What we can do now is to hope that L3 is easier.

I am flattered guys :slight_smile: But really, you are giving me way to much credit. I am just trying to pepare for this monster as hard as all of you, and not taking any shortcuts.

i like volkovv cause he actually takes his time to explain concepts. I could never explain anything to anyone, if if i understand it. He will make a great professor

volkovv for president!

Level 3 is not easy. End of story.

This “Level 3 is easy” thing made me not open a page until mid-march. Then I essentially started studying last week. Its not as easy I expected to be honest but I dont find myself struggling thru methodologies and formulations as I did in Level 2.