Like most other people in this forum I hope to be on to level III a week from tomorrow. I was perusing eBay for Level III study material, hoping to find a set of the Level III 2008 Schweser video CDs for $50 or something, when I came across an auction that has 2004 Level III Schweser notes, 2005 Level III CFAI Notes, and 2006 Level III Schweser notes. Those are all too dated for my liking, but it got me thinking “at what point do you just give up?” If you were to fail Level III 3 times in a row do you keep going, since you already passed the first two levels, or do you ignore sunk costs and eject from the CFA Program? I’d probably sit for it 5 times or more before giving up on it. Here’s a link to the auction if anybody wants some old a$$ study material: http://cgi.ebay.com/CFA-LEVEL-III-CFA-Ins-Schweser-AIMR-04-05-06-Series-87_W0QQitemZ200245604574QQihZ010QQcategoryZ2228QQssPageNameZWDVWQQrdZ1QQcmdZViewItem
I’ve seen people on the L1, L2, and General forums claiming that the exams are easy. Usually, their posts are riddled with grammatical errors and butchered English. If your written responses are all in Haiku, then you deserve to fail L3. This seller may have either a bad grasp of the language or abominable penmanship.
I think if I had already passed L I & II, I would keep trying for L III until i get it, no matter how many attempts it may take, but I could never see it getting past 3 attempts without a pass, I mean, if you actually studied 3 years in a row for the same exam but can’t pass, you shouldn’t have been able to pass the first 2.
giving up after passing I and II sounds ridiculous in my opinion. i dont have the stats in front of me obviously, but I would bet the ranch on that it does NOT happen often. maybe you have some PM who gives up b/c he rather take jr to little league or a PhD introvert who gets his doctorate, begins teaching finance 101 to undergrads, and gives up. but i think it ridiculous to give up 2/3 of the way there…i hope you pass II and are on III next week, buddy boy. just my 2 c
I think there could be other valid reasons to drop out. Let us say I pass Level II on Aug 19th, but if the barrier to entry (the name of the school BS, full-time/part-time BS, network almost BS, and so many other BS attached to MBA sh*t. And, of course, add to that the depressed financial services sector) into asset management or some job leading to that is so tough, that I can not get in, I would not care for CFA level III as I would most probably would have to change course and it won’t mean much for my career. Anyway, without the four-year experience CFA level III won’t mean much. Well, my post almost felt like I am bitching about upcoming on campus interviews and my low self-confidence.
I took L3 for the first, and hopefully last, time this year. Two guys sitting in front of me before the test were talking. Here is their conversation, no joke. Guy 1: “Have you taken the LIII exam before?” Guy 2: “Yeah, this is my fourth time.” Guy 1: “That’s ok, this is my fifth.”
jrumph Wrote: ------------------------------------------------------- > I took L3 for the first, and hopefully last, time > this year. Two guys sitting in front of me before > the test were talking. Here is their > conversation, no joke. > > Guy 1: “Have you taken the LIII exam before?” > Guy 2: “Yeah, this is my fourth time.” > Guy 1: “That’s ok, this is my fifth.” My god! Where did you write your exam?
Detroit May explain a thing or two
i somewhat wonder about this… i think level 1 is easy… level 2 is hard, and then i hear level 3 is easier again (i’m sure nothing like level 1)… BUT i think level 2 and 3 test completely different skills. you can pass level 2 with some huge deficiencies. BTW, does everyone write CFA in english? i have no idea??
westbruin Wrote: ------------------------------------------------------- > i somewhat wonder about this… > > i think level 1 is easy… > > level 2 is hard, and then i hear level 3 is easier > again (i’m sure nothing like level 1)… BUT i > think level 2 and 3 test completely different > skills. you can pass level 2 with some huge > deficiencies. I wouldn’t go to level III thinking this way. It may have been easier at some point, but it doesn’t seem to be anymore > > BTW, does everyone write CFA in english? i have no > idea?? Yes. English everywhere.
I know of people that failed level 3 a couple of times, and these are VPs at goldman and fund Jr PMs. basically, i would conjecture that some people take it a bit lax with level III and assume b/c it is essay form, it cant be “that bad” then they get a rude surprise. one dude I know at blackrock bombed it twice. he literally was ready to jump into the charles river. so, it happens. it gonna nada to do with detroit, kemosabe
At the Schweser Windsor week last year, I met a Canadian fellow who said it was his fifth attempt at L3. He said the essays were fiendishly slippery to him … but he was determined to keep trying. I wish him well and hoped he has passed by now!
wzupdok Wrote: ------------------------------------------------------- > At the Schweser Windsor week last year, I met a > Canadian fellow who said it was his fifth attempt > at L3. He said the essays were fiendishly > slippery to him … I could use something slippery right now, too!! : ) - I read over restructuring today (corp fin book – ONLY 1 page on restructuring, very disappointed). this way, when I go to a bar next weekend, I can tell the hottest girl in the bar that I know about carve outs…if she says he eats chipotle, i will tell her about the carve out with MCD and how MCD created value b/t itself and its subsidiary.
Daj, Let me know which bar in Boston you are headed to so I can be there to laugh and maybe post it to utube for all of the afers… Thanks
have2pass Wrote: ------------------------------------------------------- > Daj, > > Let me know which bar in Boston you are headed to > so I can be there to laugh and maybe post it to > utube for all of the afers… > > Thanks http://www.thevaultboston.com/
hey just out of curiosity, this may sound dumb, but how long are the written responses? is it like a paragraph/page/couple sentences?
daj224 Wrote: ------------------------------------------------------- > have2pass Wrote: > -------------------------------------------------- > ----- > > Daj, > > > > Let me know which bar in Boston you are headed > to > > so I can be there to laugh and maybe post it to > > utube for all of the afers… > > > > Thanks > > > http://www.thevaultboston.com/ Is that a popular spot? I was in Boston last year for a Bancware conference and ended up at that bar with my wife and some friends. That was after we visted the Cheers Bar, took the duck tour, toured the Sam Adams brewery, and all of that other touristy stuff.
daj224 Wrote: ------------------------------------------------------- > have2pass Wrote: > -------------------------------------------------- > ----- > > Daj, > > > > Let me know which bar in Boston you are headed > to > > so I can be there to laugh and maybe post it to > > utube for all of the afers… > > > > Thanks > > > http://www.thevaultboston.com/ daj, you don’t happen to work at 260 franklin do you?
jbaldyga Wrote: ------------------------------------------------------- > daj224 Wrote: > -------------------------------------------------- > ----- > > have2pass Wrote: > > > -------------------------------------------------- > > > ----- > > > Daj, > > > > > > Let me know which bar in Boston you are > headed > > to > > > so I can be there to laugh and maybe post it > to > > > utube for all of the afers… > > > > > > Thanks > > > > > > http://www.thevaultboston.com/ > > daj, > > you don’t happen to work at 260 franklin do you? nope. but if you want to network, let me know. I am not far and my favorite beer is Sam Summer.