Sorry if this post/topic is not as per practice of this forum this is my first post.
CFA story started in june 2011. Cleared Level 1 in 20 day time studing around 6-7 hrs per day no mocks.Just completed mba,I was utilizing time remaining to join the job.Exam went very well,knew I would definitely clear.Results were every thing >70 other then AI.Thought why every call it tough(will know it later)
Registered for level 2 in overconfidence and thought that I will start studing for level 2 in month of feb 2012 .New job, work pressure meant even if I tried to study nothing went to my mind.Could not start serious study till may 2012 .Now I was only hoping for a respectful fail.Took 15 days general leave from may 15(big mistake always take sick leave).Only after one day I was called back to office since other guy got ill(really?).Leave was reduced to 7 days.again on 2nd day of this block my grand father passed away.Just appeared for l2 made random guesses got band 5 fail
Again registered for l2 for 2013 in sep with life going steadily.Things took rapid turns from oct. I married on 14 feb took long leave of absence from office and joined on 7 march.On joining I found that I have been included in list of candidates eligible for fast track promotions but this meant preparing for 3 hrs grillig exam and an interview in april/may along with completing pending tasks due to long leave.Again CFA went to back burner.This time got 10 days sick leave before exam studied like crazy for an avg of 12 hrs a day.During exam I found that I have forgotten a lot of things.On reading many questions I thought I am very close to solving questions but I just could not.Two of my strong subjects derivatives and corporate finance deserted me.Result failed band 9
i had been extremely poor in time management ,for one reason or other I kept procastinating.I thought may be CFA charter is not for me.On a whim I registered in march 2014 through cumbersome method of wire transfer.(Due to some issues could not use credit card).This time again my major study was during leave I had taken in last seven days.Result passed
1)Never judge level 2 through level 1
2)If time is short utilize third party material.I had read till using cfai text books only.They are huge in number of pages and in certain topics such as economics ,derivatives etc which are actually simple,they have made them abstruce through notations making formulas intidimating.(I have found that I cannot read from ebooks/photostats and buying actual 3rd party material was very costly)
- Time management also means finding most suitble time accoring to your particular job.For example I am branch head of large size branch and found that I am very busy during jan-april period since jan-march is last quater In India for financial year a april is audit period.So I have to complete study before this period.
4)Try to read from latest material.Since with deadline price for registration increases I thought not to buy print curriculam and studied using 2013 CFAI Books.I planned to use additional readings of 2014 using e book.In the end I could not study many of these reading which resulted in my guessing two complete sets and few other questions too.
5)Always register using credit card.When one uses wire transfer CFAI has to first confirm the payment and then confirm registration.The process may take 15 days or more
- When time is short cover your strong areas and kill them in exam.I know that I had absolutely killed FRA Corporate finance and derivatives thst was the only reason I passed
7)Always do mocks even when you think you are 70% prepared.I never did any mock so felt less confident while giving exam
For level 3 I will register in august and will definetely start studing from september end.
Lastly sorry for long post