So I took the exam this past June and failed just by a small amount; my confidence interval showed me going either above or further below MPS. I’m sitting for the second time and, though it could just be nerves, barely feel in a better than the last time (which I walked out feeling I could have passed - sad mistake). I’m trying not to get ahead of myself and assume I’m going to pass, as I really do not feel all that confident I am doing much better than before. I feel as though I understand concepts and calculations better, though my scores have just marginally improved (around 70-75 range, depending on the day which is where I was last time).
Given all this: what are opinions on sitting for the exam a third time? Is this indication that the designation is not for me? I love the subject matter and content being studied; however, if I can’t even get through Level 1 it makes me thing I would not be cut out for an applicable career. Thoughts?
You’re not failing because you’re dumb. You’re failing because you’re studying inefficiently. You need to allocate your time better.
The concepts are not hard- finding a way to absorb/retain all of them is hard.
It’s ok I took it more than once too. Quite frankly, what you feel and how you perform are two completely different things. I wouldn’t worry about it too much now especially since there’s so little time. The worst thing you can do now is get down on your confidence which will affect your test results. It’s what you do now (like good sleep, good light reviews, and good healthy food) that will make all the difference come test time. Also, pack a lunch. Don’t expect to eat wherever you’re testing at because it will likely be packed.
You are going to pass this exam. I honestly think if you take 3x to pass level 1 - it costs nothing except time and a small amount of money. The biggest challenge is to forget about the bruised ego. If CFA is the path you would like to take - then it won’t matter how many times you fail, you should continue. The only time you should ever quit is if you believe it would have no material impact on your life and the entire designation would be a waste of time and money. (Which is unlikely)
Therefore - quit your moaning. Don’t write about failing two days before the exam and this will sit in your subconscious. Focus on getting the job done and make it happen. No powerful asset manager ever doubted their ability to place funds in the right area. If CFA is what it takes to make those decisions - you need to start thinking like a fund manager now.
Needed the tough love - thanks everyone. Keeping these thoughts in my head!