well my demographics: single lady working full-time in financial services company. Job is not that demanding… i am not primarily concerned about preparation time for Level 1…i know i still have sufficient time to appear for Level 1 in Dec 08 BUT for Dec exams, i’d need to travel to a different country nearby while June exam can be taken in the same CITY I am in… So my prime concern is that, as this will be first time for me to appear for a CFA exam and the first time to travel for an exam, very likely i will be highly tensed up 2-3 days before an exam because of packing and all the airport and flight hassle…then upon landing I need to see the exam center at least a day before…i might feel tired, restless and might screw up in 6 hour exam…thus my 6 months hard work might go into drain… Secondly even if i do suceed, i wouldnt have much time for Level 2 preparation for June exam… and by the way i will be paying for CFA all myself…so I should take minimum risk, shouldn’t I?
There’s not much in that for a finanace professional to love. The world belongs to the risk-takers.
It wouldn’t hurt for you to take in December if you will put in the study time between now and then. That way if you don’t pass, you are already well prepared for the June exam and will have a larger comfort level from already taking 1 exam and will have a better idea on what to expect. The main obvious constraint is the amount of money you need to pay for the exam. You only need to pay the $400 registration fee once, but if you don’t pass the first time you will still need to pay the ± $600 for the exam (depending on when you register). If money is not a constraint (around a total of $600 extra), then go for it in December.
hmm…anyone else?
It’s very practical to take the exam in the city you live. One of the June test centres is within walking distance of my home. That said, someone I know flew over to London where the test usually seems to take place at ExCeL, the conference centre (the person in question had missed the June exam and *had* to take it in December…) As for London there seems to be a hotel within three minutes walking distance from the ExCeL conference facility. Since you might want to do a few practice exams right before the real one, maybe you’ve flown in a day or two in advance, and spend a day or two at the hotel, practicing and resting. During the lunch break, you might be able to return to the hotel for lunch. On the flip side, I’ve heard there are about 5000 simultaneous test takers on that particular test site. As for packing: you only need your calculator(s), a few pencils, a sharpener, an eraser, earplugs, glasses (optional of course), your passport and the exam ticket as well as wearing comfortable clothes with big pockets (for carrying the said equipment - bags not being allowed). Plus your study material, left at the hotel, in case you want to prepare the day before.
thanks alot everyone for the encouragement… thanks MehdiOchre…loved your recommended plan… hope i soon gather up the guts to register for Dec 08 
take the dec exam, that way if you pass, you can do L2 a year earlier
sumz, I just HAVE to ask you this: if you ‘appear’ for the exam, what do you do AFTER the exam? Do you 'disappea’r?
FourCastles Wrote: ------------------------------------------------------- > sumz, I just HAVE to ask you this: if you ‘appear’ > for the exam, what do you do AFTER the exam? Do > you 'disappea’r? LOL! is that such an uncommon expression?
Sumz, I am taking the Dec exam in a different city and (assuming I pass) will take L2 next June. The thought of being done with L2 in just over a year from now was reason enough for me to take December elsewhere!