2011 first attempt: fail 2012 second attempt: ? 2013 no more cfa if fail again
Big Pun RIP
4th attempt 2008: Band 6 2009: Band 7 2010: Band 10 2011: PASS (f’n hope so) Probably would have quit if I wasn’t improving each time.
prophets Wrote: ------------------------------------------------------- > cruzjuan Wrote: > -------------------------------------------------- > ----- > > 4th attemp. > > > > 2008: band 10 > > 2009: band 8 > > 2010: band 9 > > > > Heading for a band 9 under a worst case > scenario. > > > props to you for keeping at it. respect. +1 Also, I got Band 6 last year after studying the same way I studied for Level 1 - foolish. I studied much harder this year and was much better prepared. This year here are my thoughts: Band 6: Give up. Band 7: Give up. Band 8: Unsure… Band 9: Take for 3rd time in 2012. Band 10: Take for 3rd time in 2012 if I survive shooting myself in the face.
2nd attempt this year, feeling solid about my exam, pray/hope its accurate. Band 9 Fail last year, THAT was a true Level 2 exam imo If I did fail, totally try again; this year I constructed notes that helped me recall everything I needed (last year my study notes I crammed on during last month sucked).
Thanks for the support words. They are very much needed in time like this in my life. Although I have learnt a lot during this last years, it does not compensate the downside. I personally didn’t believe in failure till now. Always good grades, MA in Finance, promising carreer. Passed level I on first attemp. Then came the bad times. During my fisrt attemp my father got sick, passing away in August. It was terrible. I received my fail score then, band 10. It hit me hard, I lagged till March to start again, but used old notes and left out new stuff (LBO / VC), screwed temporal method in AM, another fail band 8. Last year I prepared well starting early, again hard AM, in general the exam felt like it was very quantitative too much calc., I don’t want to bore you, yet another fail this time the missing band 9 (two 18 points topics below 50%, Equity and FSA middle, Ethics over 70%). This year I had a serious argument with my eight year fiancee in April, but anyway managed to study a lot. We are still in conversations about spliting or continuing together. About the exam what can I say. Same old feeling about AM (I just can’t manage to get with enough time to do all the complex Port. Mgmnt. questions stuff like getting the std. dev. of a portfolio for example). PM felt OK, almost a walk. But there were quite a few curveballs during both sessions, I believe I noticed most of them. I should have an above average chance of passing. Anyway, how can your odds stand when they ask you are asked a question about the risks for an EM fund of listing its shares abroad, a topic covered in a seven-line paragraph of the CFAI 3000 pages curriculm. That’s just for illustration purposes. It’s a statement that clearly says “We are the Gold Standard. We want you to know it all”. I don’t know what I’d do if I get a band 9/10 again. I guess the reasonable advice would be to focus on one’s job and progress, but how when you need +300 hours minimum yearly to stand a decent chance. I have been priorizing study over work for the last years, I’m 29 now and still two levels plus memebership away from the Charter. It’s the huge time investment the enterpise demands under some scenarios what I feel it does not balance out with the pros. No one is offering me a better job for having passed CFA Level II exam anyhows, it’s not very known in my country yet. I’ll probably will be starting with Ethics in November, getting updates on the curriculum, etc. Good luck everyone in August.
3rd attempt 2009: Band 9 2010: Band 8 2011: ???
1st attempt. pretty sure I didn’t pass based on how many guesses i had to make.
Good luck Cruzjuan - hope it’s the big turnaround year for you. 3rd attempt 2009 band 4, 2010 band 8 and borderline???
cruzjuan Wrote: ------------------------------------------------------- > Thanks for the support words. They are very much > needed in time like this in my life. > > > I’ll probably will be starting with Ethics in > November, getting updates on the curriculum, etc. > imo, i would start with an area that requires rote memorization. an area that is basically a calculation or formula. i would tell anyone doing L2 to start with FSA/Equity or Derivatives. learn the process for each area. then once a week do a question (like a swap calc, or a temporal method b/s, i/s, pension problem, or ) to keep it fresh in your mind. cover ethics last. research studies show that learning is best retained through doing repeatedly problems. you cannot learn material simply by reading it. the key to passing L2 is doing as many problems as possible. the people who did 6-8 mocks, i would bet have 70%+ passing rates. the people who just read the CFAI material directly (even twice) and do EOC only 1 time or so, are a lot more dicey in their prospects. doing problems, doing mocks = high pass rate.
prophets Wrote: ------------------------------------------------------- > doing problems, doing mocks = high pass rate. I did more than six sample exams (2 books), consistently getting rates around and over 70%. Also completed more than 50% of Schweser Qbank advanced questions, took Schweser live mock scored 72%, scored near 80% on CFAI mock… Memorized +70 formulas this time (only left two or three in the entire curriculum, one being WACC after a change in leverage under MM II with taxes go figure), covered core concepts several times with notes, checked some lightly covered issues with curriculum etc. You understand I know the curriculum pretty well by now, and I also how CFAI tests these concepts. Nevertheless, I keep getting 62-67% in the real exam. No pain no gain they say.
cruzjuan Wrote: ------------------------------------------------------- > one being WACC after a > change in leverage under MM II with taxes go > figure), covered core concepts several times with i thought that formula was basically half the entire reading section. it explains how leverage raises cost of equity linearly. the entire reading can be summed up in 6 sentences. 2 for MM with taxes. 2 for MM without taxes. and the 2 formulas for value of tax shield on debt (interest) and the change in cost of equity w/ debt added. that’s how i look at it, at least.
3rd attempt 2009: Band 7 2010: Band 7 2011: Band 7???
this is my first attempt and i can not even begin to understand how one would be willing to go through this ordeal for two times, let alone 4! you guys are heroes!! hopefully you guys pass.
mr_moose Wrote: ------------------------------------------------------- > this is my first attempt and i can not even begin > to understand how one would be willing to go > through this ordeal for two times, let alone 4! > you guys are heroes!! hopefully you guys pass. Having no kids currently helps:)
2nd attempt 2010: Fail, Band 3 2011: its a 50-50, and i don’t think i can go through this torture again, so its pass or bye bye CFA
it is like investing in a project, you have invested so much, if it does not provide positive results, then all you spent becomes sunk costs!!! It is my first attempt, and I will definitely take it again if I don’t pass this time.
4th attempt… Although it was my second real attempt since the first time I sat the exam. I congratulate anyone who has the courage to continue even after failing once. It’s a tough exam, especially if you don’t work in banking or an industry where you can apply the majority of these concepts often, or if you haven’t had any formal finance training (e.g. MBA, Masters in Finance, etc.)
I think life is pretty unfair…some people just tried once with minimal study and while other persisted for 4 times, 6 times! and still failed! To those who have tried really hard each time and failed, Kudos to you! But should you give and see God one, at least you can settle this score with him!
What a depressing thread