Looks like my MBA program wont let me sit for my Level 1 exam in December

CFA General
#1

I originally posted this on the level 1 board, but it didnt get too much input on there. Thought this might be a better spot.

Long story short, Im set to graduate with my MBA this fall, and as luck would have it, I found out that my program has a 100% mandatory conference that has to be attended in order to graduate, and of course, out of all days, its on Dec 6th, the day of the December Level 1 exam I had been scheduled to take.

I wrote a 1000 word appeal to the director of the program explaining the situation, but alas, my appeal was not granted and thus I have to attend the conference in order to graduate and must forego my Level 1 in December. I find this to be extremely annoying because I had serious hopes to take and pass level 1 and december and level 2 in june. This situation will now possibly set me back a year.

I have several questions-

Do you think I would have any chance trying to go higher up in the university explaining the situation and getting my appeal granted?

If not, do you think the CFAI would have any pity and allow a refund of the enrollment fee, or am I pretty much screwed out of the money?

If I do end up having to sit for Level 1 in June 2015 instead of December 2014, would you be against me starting to heavily study my schwesernotes now, as if I actually was taking the test in December? I feel really motivated right now and thought itd be good to strike while the iron is hot and that atleast if I have this extra time, I could maybe go through the schweser 2014 notes a time or two before the 2015 curriculum even comes out and really cement my knowledge and virtually guarantee that level 1 pass in June. Then once the CFAI 2015 material comes out this fall, just get the CFAI institute material and study over the LOS changes and not bother with reordering a 2015 Schweser. Or are the changes between years simply too great and I should just hold off until the fall and go ahead and order the 2015 schwesernotes.

What would you do? How would you handle the situation?

I also have the option of delaying MBA graduation a semster and taking the CFA in december like scheduled, but I dont really see that as an option.

Thanks for the help/thoughts

#2

Don’t chase two rabbits. Do good in B School before considering the CFA.

#3

true. Certainly not a bad school of thought. But since I do not have a job right now, I figured it would be easier to try to study for the CFA ASAP since studies for the MBA require less than 40 hours a week. If I wait until after the MBA, I will have a full time job and will have to deal with CFA studying on top of over 40 hours a week at work. I understand your thought, but when I analyze the time factors, it seems like I would have more time to study while in school than while dealing with work.

#4

Finish MBA, land a job reevaluate in a few years if you need a CFA designation.

#5

Believe it or not, there is more to life than the CFA.

#6

The jobs I am interested in already all seem to require a CFA charter. Seems like waiting will only delay my ability to qualify for those jobs

#7

Yes, but it just seems like while I am in school mode, it would be good to knock it out. There will be a day where I have a family and a career and will not have as much time to study. I have a good amount of spare time. I would feel good about being productive and studying than just sitting around bored.

#8

As long as it doesn’t affect your GPA.

#9

I currently have a 3.71 MBA GPA and have been told by several sources that employers couldnt care less about your MBA gpa and that some programs dont even give grades

#10

If you have solid experience, they don’t care, I agree.

#11

sticky situation brah

#12

^ Sticky situation would be if a client awarded you $1 million for superior performance.

#13

If most of the jobs you want already require the charter, what do you hope to gain from writing L1? You won’t have the charter for another 3-4 years.

Work on networking and school. Get a good gig when you graduate.

#14

Honestly just that it would give me an additional year to have a potential fail. If I wait till June to take level 1 it’ll allow for 1 less fail over the course of all 3 exams than it would if I take it in December

#15

Did you work between undergrad and MBA? If all the jobs you’re looking at seem to require the charter, they’re implicitly requiring at least 4 years of relevant work experience (since that is what it takes to get the charter after completing the exams). Anyway, my recommendation seems to follow suit with what you’ve already been told in the thread… yeah, it sucks, you probably won’t get your money back and you have to wait an additional six months. Knock out your MBA, focus on networking.

#16

no I didnt. Yes I realize that they’ll implicitly require the 4 years work experience. It’s just a matter of being able to sit in December gives me an extra chance to have a failure on my way to the charter. It effectively would give me 5 chances at passing all 3 levels instead of just four chances. I’m speaking in reference to over the four year period while I accumulate my relevant work experience.

still, no one has offered any thoughts about possibly trying to go higher up the totem pole in the school to get the appeal granted or if it would be ok for me to start studying intensely now or if it’s really best to wait until the 2015 curriculum comes out. Because I feel excited to study now but I’m afraid I might just be wasting my time studying things that will be changed/removed and it’ll only cause confusion for me when the new curriculum comes out

#17

You did an MBA straight after undergrad with no work experience? Grab the hacksaw.

#18

start writing the appeal…gives u something to do anyway

#19

I think that if you can make the case that passing this exam will help you land a higher than average salary and be placed in a company they would reconsider. Wether that’s true or not? I don’t know. I do know It’s all about the stats though.

#20

Was the conference requirement added after you decided to attend that school?