Never before had I failed an exam until when I ventured into the CFA program. I am a seasoned CPA and a big 4 firm veteran. In addition to a business graduate degree, I have a few respectable designations under my belt, all achieved in a single sitting fashion. My friends and colleagues have dubbed me “the de facto professor” The following is a log of events in my CFA endeavor: Jun 2007 – CFA Level 1 – Fail (the pass rate was more than 40%) Dec 2007 – CFA Level 1 – Pass (with the majority of my scores in the >70 bucket; the pass rate was 39%) Dec 2008 – CFA Level 2 – Fail (band 10; the pass rate was more than 40%) Dec 2009 – CFA Level 2 – Fail (band 5; the pass rate was more than 40%) What the hell? Dec 2010 – CFA Level 2 – Pass (with all my scores in the >70 bucket and pass rate is 39%) As you can see, I was knocked down once at CFA level 1, twice at CFA Level 2, and I am bracing for a brutal showdown at CFA Level 3. If this conforms to arithmetical progression, as it so appears, I can expect to be knocked down three times at CFA Level 3. I hope all this was purely random! In the process I have acquired an attitude of a fierce fighter who knows that a fail is an opportunity to get it right and not a completely negative paint of one’s IQ. With the full support of my lovely wife and two kids, I have kept up the fight. Every time I was knocked down, I resiliently rose up; dusted myself off and marched on. The march goes on! So, CFA Level 3, here I come! Yesterday was a long agonizing day to me as I did not receive the damn email via my yahoo email address until a little before midnight. In fact, I had given up, but my wife vowed to stay on the computer, hitting F5 every five minutes, until the damn email showed up. When the email popped up, my wife read it and screamed wildly and woke me up. I read it and became speechless. I was too excited to say no to anything that my wife proposed, provided it did not appear to run counter to any law, including the CFAI ethics. In fact I said yes to too many things that I now think I may end up failing to honor some of them. First off, she said she wished we could go out for booze, but it was too late. She was not short of ideas. She suggested that we just a bedroom skill show all the night long and I innocently voted aye. We went ahead and had it. We’re all tired now and are taking a day off!!!
A lot to learn from you survivorcfaseries!!! I failed L2 with Band 7. Thanks alot for Motivation.
survivorcfaseries Wrote: ------------------------------------------------------- > Never before had I failed an exam until when I > ventured into the CFA program. I am a seasoned CPA > and a big 4 firm veteran. In addition to a > business graduate degree, I have a few respectable > designations under my belt, all achieved in a > single sitting fashion. My friends and colleagues > have dubbed me “the de facto professor” > > The following is a log of events in my CFA > endeavor: > > Jun 2007 – CFA Level 1 – Fail (the pass rate was > more than 40%) > Dec 2007 – CFA Level 1 – Pass (with the majority > of my scores in the >70 bucket; the pass rate was > 39%) > Dec 2008 – CFA Level 2 – Fail (band 10; the pass > rate was more than 40%) > Dec 2009 – CFA Level 2 – Fail (band 5; the pass > rate was more than 40%) What the hell? > Dec 2010 – CFA Level 2 – Pass (with all my scores > in the >70 bucket and pass rate is 39%) > > As you can see, I was knocked down once at CFA > level 1, twice at CFA Level 2, and I am bracing > for a brutal showdown at CFA Level 3. If this > conforms to arithmetical progression, as it so > appears, I can expect to be knocked down three > times at CFA Level 3. I hope all this was purely > random! > > In the process I have acquired an attitude of a > fierce fighter who knows that a fail is an > opportunity to get it right and not a completely > negative paint of one’s IQ. With the full support > of my lovely wife and two kids, I have kept up the > fight. Every time I was knocked down, I > resiliently rose up; dusted myself off and marched > on. The march goes on! So, CFA Level 3, here I > come! > > Yesterday was a long agonizing day to me as I did > not receive the damn email via my yahoo email > address until a little before midnight. In fact, I > had given up, but my wife vowed to stay on the > computer, hitting F5 every five minutes, until the > damn email showed up. When the email popped up, my > wife read it and screamed wildly and woke me up. I > read it and became speechless. I was too excited > to say no to anything that my wife proposed, > provided it did not appear to run counter to any > law, including the CFAI ethics. In fact I said yes > to too many things that I now think I may end up > failing to honor some of them. First off, she said > she wished we could go out for booze, but it was > too late. She was not short of ideas. She > suggested that we just a bedroom skill show all > the night long and I innocently voted aye. We went > ahead and had it. We’re all tired now and are > taking a day off!!! I hope you’re NOT on a geometric progression instead!! j/k great story man. all the best
I can relate to failing level 2 2x. This year I vowed to give myself an opportunity to answer each question and not to strategize to just focus on the important sections. It worked as I got over 70% in all sections less ethics which I failed miserably.
survivorcfaseries Wrote: ------------------------------------------------------------------------------------------------------------------------------------------ […] > Jun 2007 – CFA Level 1 – Fail (the pass rate was more than 40%) > Dec 2007 – CFA Level 1 – Pass (with the majority of my scores in the >70 bucket; the pass rate was 39%) > Dec 2008 – CFA Level 2 – Fail (band 10; the pass rate was more than 40%) > Dec 2009 – CFA Level 2 – Fail (band 5; the pass rate was more than 40%) What the hell? > Dec 2010 – CFA Level 2 – Pass (with all my scores in the >70 bucket and pass rate is 39%) ------------------------------------------------------------------------------------------------------------------------------------------ I wasn’t aware that you can sit for Level 2 in December. But you not only did that, you also managed to pass L2, in the future!! Jokes aside, congratulations for passing Level 2!
Sorry, my fault. Exam dates after Dec 2007 were intended to read as Jun 2008, 2009 and 2010.
My Survivor story, Passed both Lvl I and II on my first attempt, will be taking level 3 next year. Level one was a breeze but I had the worst case of Insomnia shortly after lvl I. For the whole year I slept about 3 hours a night at the most. I postponed studying for level II until about 5-6 weeks before the Exam. On the night before the exam I took sleeping pills to try to fall asleep but I did not work. I ended up taking the exam with 2 hrs of sleep and hung over from the pills. I literally guessed about 1/2 the exam plugging in answers to see if it makes sense of not. thank god i passed! That was my survivor story… and I still do have insomnia.
Thanks for that. Failed band 7 on my first try, but have already resumed my studies. Retaking this exam definitely teaches you a lesson about effort and determination. Like JudoSweep, also had a really tough time sleeping before L2. Slept maybe 3-4 hours max, and I think it had an effect on me during the exam. I only wish I had half of his luck…maybe that would have put me over the top.
dapoopa, u know the funny thing is ppl @ my company have a knack for passing CFAs… my mentor spent 3 weeks for lvl 1, 2 weeks for lvl II, and one wk for lvl III and passed them on all the first try (well probably the fact that he was a Chicago Booth MBA helped). But the most important lesson that i got from my job is to always question the projected outcomes… my director ALWAYS asks me if the results make sense or not… and that’s what I did on the exam… always asked myself… does this answer make sense if i plug? however… that probably won’t help me out on lvl III as it is not multiple choice =(. we’ll c. Good luck friends!