I have failed for 2 times since last year, don’t know whether I should take one more time this year. I do think that it really exhausted as too many material need to study and memorise…I already got my CPA but hope to get one more designation. but find it really difficult…don’t know whether should try one more time
Third time failure here… and the worst thing is I am not sure how much better I can prepare for this animal again. I will have to come up with a complete different game plan before I re register for L3. May I ask what materials you used? I used Schweser for all 3 years and failed them all… lol
you’ve come this far - the next try is just around the corner. give it one more go. but this time change your study method and try different ways of learning.
hey all you guys I just posted something…please read it as I think it may help the title is Level 3 retakers or newcomers regards
Hey kwokchun30 We have a similar background as I am a chartered accountant. I also struggled at level 3 cos I am not a portfolio manager and level has no accounting component. I failed level 3 twice and finally made it this year on my third attempt. Trust me it is worth the effort! The elation is undescribable and all I can say is hang in there and it’s only a matter of time before you get it! It is well worth the effort! You are almost there… good lucka dn all the best Crazy, CFA
does anyone really quit after getting to L3?
This is really a no brainer IMHO, 100% yes. You have already done LI and LII, you know what it takes already, take the exam and make sure you pass it this time.
i’d give it another year. give it everything again and if you fail then seriously consider moving on.
Just a word of advice from a CFA Charterholder who can definately understand your pain. NEVER NEVER NEVER GIVE UP!!!
Yes. You have waaaaaaaaaaaaaaaaaay too much time invested. I know it is hard to tackle the same material again but get your a** in gear and pass it!
One more thing kwokchun, the differentiator for me this year was this forum of anal analysts (it’s a compliment to all u AFers!) and doing all the online exams that CFAI offers…
I guess I will be the voice of dissent here and say that your previously invested study time is a sunk cost and shouldn’t be considered. If you want the charter, take the exam again. If you don’t really want it or don’t think it’s worth it, then don’t take the exam. It’s pretty much that simple.
I’m with bromion. If the charter couldn’t add any plus for your current work or future career, then don’t need to waste your time. Life is too short, there’s always something else you could do to make your life better, time is money.
I dont think it makes much sense to quit at this level. L2 and L1 I can understand. Keep at it.
kwok give it a go. You might not be aware but if ever you dont take it this time and instead give it a go next time, a guy named daj might be on the l 3 forum…and you should not look forward to this. believe me. just believe me.
This was my first attempt and I put in well over 700 hours. Needless to say I’m very disappointed and discouraged, but I’m NOT giving up. I started studying last Oct for this year’s exam and I’m not doing that again. I was burned out in May and found it hard to focus in the PM section because I lacked mental stamina. It’s so hard to determine the right amount of study time to put in without feeling burned out toward the end.
I failed level3 six times. This time, I failed with 40/60/80 of 58.7% and failureband=10, which was like a stab in the heart. Every time, it appears that the MPS bar is getting raised. Just a 2-3 years ago, the passing rates were in the 60-70+ range… and many scores in the 55+% range were passing. Looking the new new LI and LII passing scores, getting >70 on most sections is becoming more critical to passing. I think the exam will likely get harder and harder with a MPS in the mid 60s. For me, I have a family and 2 kids. I will probably take the exam again next year, but I hope to have all the knowledged retained from studying, so I don’t need to review everything again. Those CFAI books are long and tedious, so I don’t think I am going to be all out for this exam, nor will I think highly of the cfa charter. In the end, like an MBA, PHD, the cfa is just a piece of paper that said you once knew the stuff very well. It doesn’t mean that you will still remember anything after the exam or that you are better than anyone without the cfa (per the Ethics rules). I’d say focus on your current carreer in this down market. If the cfa thing works out then great but it is no big deal. I don’t even know of any cfa charterholders who really brags about the benefits of the cfa charter. Looking back, I think I regret my last 10 years of this CFA program because the exam was quite disappointing in 2008… focusing on minutae and the exam didn’t reflect the LOSes well. Like many said, the ethics stuff was like crap shoott, which got me big this year. With all the reputation of the cfa charter, the CFAI needs to make the exams harder to prevent dilution of the charter value. Perhaps, when less people are fanatic about the cfa charter and are more realistic, the exam will be more easy. This is just my ‘personal’ opinion.
sh34. You took the exam 6 times?!? WOW. Can I ask how hard you studied for all six exams? Were some of the years studying not so intense? I failed for 2nd time this year and studied like crazy, even more so than my insane studying last year . (I was practically the “tutor” for my study people and they passed. I was always the one getting asked questions when they didnt understand a topic) And looking at my scores from this year, its almost like I didnt even study. Blows my mind I am trying to avoid that many times failure and need to get a grip of the confidence. You got some insight to what happened over last years?
Failed L3 twice. I was in the program for eight years. The experience of passing is exactly as described above by Crazy to do this! Unless you are convinced it’s a lost cause, I recommend giving it at least one more try.
Kwockchun, Don’t give up! I also took it for the second time and failed with failing band of 9. My biggest problem was time. When they announced there was only 30 minutes left, I was starting question#6 (I got <50% for questions 6-11). I plan to take it again in 2009. Don’t feel alone. There are many candidates out there like you. With you CPA, a CFA will make stand out of the crowd!