Read this if you want some encouragement...

Ok guys, consider this. Two years ago I had no idea about the time value of money. I had a mortgage company, and we did very well. After the mortgage collapse, and losing pretty much everything, I got married. I also started studying for the CFA Level I and the GMAT. I wanted to pursue a career in finance. I got a lowly 620 on the GMAT. I passed the CFA L1, registered for the L2 exam once I got my results (late January 2009) and studied for the L2 exam. I failed last year, Band 5. After worrying about what I’m going to do for my family and how I’m going to provide (we were pregnant at the time, and I went from owning 3 houses to owning none, again, losing everything), and praying on my knees with hands clenched together, in August 2009 I redoubled my efforts and got all-the-more determined. (Cue the music) In November 2009, after studying for 1 1/2 months at 8 hours per day, I scored a 720 on the GMAT. Now, I’m a liberal arts student, and I got a 48 Quant score, up from a 36 (this is out of 60). I got into a fabulous business school, Notre Dame, with a great fellowship…and I’m honored. I am once again facing the CFA Level 2 exam. I’ve studied hardcore, since January, and am averaging a 75% on the Schweser/Finquiz/CFAI mocks. I’m ready. If you are averaging a 60% or greater, there is a great chance you will pass. Remember the Ethics rule, if you’re “on the fence” and close to the famed Minimum Passing Score, if you perform well in Ethics, you’ll pass. Keep focusing on the big things, but honestly, most of it will be in your mind. DON’T GET PISSED OFF at the CFAI if you see a nasty vignette on Treynor Black in the Exam, or some other section you’re not so good on. Don’t let it play with your head. Keep cool. Track your time. But, above all, be confident. Did you know that confidence means “with faith”? Have faith in the efforts you’ve put into this difficult exam. The very fact you are aware of and are visiting regularly, and hopefully contributing, puts you in a different category than the other L2 test-takers. Don’t seek confidence from others. Know you are where you need to be right now, and don’t let up. Also, DON’T take a mock exam the day before. This will mess with your mind.

Thanks D., keep pushing…


Wow… that was great encouragement and I am sorry that all that happened to you. Congrats on coming back from it and pushing ahead…

Shot bro,very inspirational message. here’s to us killing this beast. All the best.

DavidYoung, could lay out your materials/game plan for raising your GMAT score? That’s quite an amazing quant improvement. Thanks.

David…love the posts and your “help” topic posts. Much appreciated. Best of luck and congrats on ND.

Love your post…you are where I want to be. The first part of your story sounds like mine…except I haven’t got anyone pregnant and dont own 3 houses, and wouldn’t want to fail the l2 on my first attempt. thanks for the inspiration !!!

TheLegend, Sure thing. I paid abour $1200 for the Veritas Prep course. It was a 7 week course that meets twice per week (online) in 3 hour sessions. I also visited the website, and got some 700 level GMAT questions, and studied those as much as possible. Last, I did every quant question in the Official Guide’s latest version, and averaged a 90%. All in all, 1 1/2 months work at 8 hours per day 6 days per week. Cheers all.

Thank you for the post… =)

Hats off to you dude. I wish I knew about this while I was taking GMAT. That’s ok. I will try hard for CFA level 2. I am currently doing a 10 hour marathon on derivatives.

drk - I am right with you. Spending rest of the evening studying Derivatives (using JScott’s explanation). DavidYoung -you are an inspiration to all of us. Best luck buddy

Chapeau bas David. Wish you the best. Wrote: ------------------------------------------------------- > Don’t seek confidence from others. Know you are > where you need to be right now, and don’t let up. > Wonderful thoughts David. Next Saturday we all sit together for the same challenge. Thank you for your posts throughout the year. The have helped many of us.

its never too late buddy… i am SURE u will take sumthing out of ur efforts… good luck…