DO NOT GIVE UP!
Your score was very close, at least a band 9. If you cleared level 2 in your first try, there’s no way that you can not finish it strong. Do everything you did the same way, add 50 hours on perfecting your AM exam taking skills and YOU WILL PASS!!!
Give yourself a 3 months break, come back in Nov’15 and give all you got.
you did well enough in AM to pass - which is where most people have trouble. I passed with 4 below 50% in AM. Saw some people passed with more than that. You just need bit more push in PM - which is easier to learn/fix imho. I would take a year off, and then rethink - level 3 materials are easier to retain.
yeah - espeically seems he did fairly well in AM - which is where most people have issues. That AM score was good enough to pass - just needed bit more in PM. Possibly 4 to 6 more questions answered correctly in PM would’ve be all he/she needed.
I hope you reconsider. Was time management an issue in the AM? I really think if you can tame the AM and crush the PM like you did in level 2 you will conquer this exam. Best wishes
CFAilure, you’re bitter because you have with a huge sunk cost with the CFA. The average number of hours of studying is the result of surveys conducted by CFAI. It is plainly just the average studying candidates did for that level for that year. So if you are a retaker and you reported 300 in year 1 and 300 in year 2, you still show up as 300 as the premise of the survey question is how many hours you studied in this year for this exam, not how many did you study across all of your attempts. Perhaps you want a survey question about cumulative hours, but that is also a faulty metric because the hours do not stack linearly. You get a lot of gain just reading the information the first time, and by mid-April you should be averaging 3-4 correct questions per vignette, and you spend May eeking out the 1 extra correct question per vignette. If you fail and retake the next year, you essentially have to restart due to memory lapses (I bet I cannot pass the CFA exams again in July even if I pass with flying colors in June.) But if you studied 300 in year 1 and 300 in year 2 and passed, it doesn’t mean you needed 600 hours to pass. The extra 300 was because you simply didn’t put in enough in the first year. If you were band 8-10, you might have just needed another 30 hours of studying plus a bit more luck and better rest to have passed the first time around, in which case you simply fell short a little in your first attempt. The study hours estimate are ex-post for that year and is intended as an ex-ante guide. There is no survey that would satisfy you because you have too much sunk cost to comfortably move on. Idk what your professional goals are, but you can start a hedge fund or become a C-level executive without a CFA – it’s not a necessary certification, but rather a nice-to-have.
Yes it’s true as most of the people say so. You shouldn’t give up. You’re good. Remember tha!
time management in AM is not an issue bcoz I can complete all the parts, but I’m surprised I failed equity & ethic in PM, which both should be my strong area and able to get >70
Thanks for posting the Konvexity study plan, VickyCool. Would you recommend covering the sessions in the order provided?
https://konvexity.wordpress.com/2015/02/11/4-months-study-plan-for-cfa-level-iii/
after all the efforts, hardworks and time spent, you decided to give up CFA designation just because you failed L3 for the first time with band 9?
I was Band 9 last year. I started studying in late March and passed comfortably. You’ve got one foot across the finish line. Don’t quit now.
Finally posting my results, do i have some chances next year?. I was Band 2 in 2013 (Studied very hard this year)
I thought, i did well on Essay portion, i left 21 points blank in the morning, but I am shocked at my Portfolio Mgmt. (Institutional & Individual) scores. I thought i answered as was taught in Schweser Model answers to Mock,
I did not look at CFAI Mock model answers as they seemed lengthy and against the general ways suggested by many over here.
I need help on the following
Is my english poor? i am not a native speaker, but you guys can make out from above that i am not fluent.
Do i refer to Model Schweser answers ? or CFAI? for Essay portion
From the below scores, where do i need to improve? Essay
Q# Topic Max Pts <=50% 51%-70% >70% 1 Portfolio Management - Institutional 14 * - - 2 Portfolio Management - Institutional 17 * - - 3 Fixed Income Investments 19 * - - 4 Alternative Investments 20 - - * 5 Portfolio Management - Performance Eval. 15 * - - 6 Portfolio Management - Risk Management 14 - - * 7 Portfolio Management - Individual 18 * - - 8 Portfolio Management - Individual 16 * - - 9 Portfolio Management - Asset Allocation 15 * - - 10 Economics 14 - - * 11 Portfolio Management - Indiv/Behavioral 18 - * -
Item Set
Q# Topic Max Pts <=50% 51%-70% >70% - Economics 18 - * - - Equity Investments 18 - - * - Ethical & Professional Standards 36 * - - - Fixed Income Investments 18 - - * - Portfolio Management 18 * - - - Portfolio Management - Individual 18 - - * - Portfolio Management - Monitor&Rebalance 18 - * - - Portfolio Management - Risk Management 36 - * -
Also on Essay, either i have got >70 or <50 mostly(exception of Behav. Finance). So i have answered some Qs correctly, and some drastically in the wrong manner
Maybe i am not answering the IPS part correctly, am i right in thinking so?
In the PM, Ethics killed me absolutely.
This year’s ethic is ridiculous, but your overall PM seems fine, perhaps you try to improve the IPS and you may earn a pass.