Failed on my first attempt. <50% on Alternative Investments, Corporate Finance, Equity Investments, and Fixed Income Investments. 51-70% on the remaining 6 subject areas. Used CFA curriculum only. No academic background in Finance. Performance band of overall score is 7. What do you think? Should I give it another go? Are my marks close enough to get it the next time? As a 37 year old single working mother of two teenage boys finding the time to study was a real challenge…and unlike one of the posts I read I really don’t think I can write this thing 7 times! Studied about 10 - 12 hours a week - mostly on the football field when the guys were practicing. (Somebody better get a football scholarship damn soon). Your thoughts would be appreciated.
There’s no writing involved. It’s all multiple choice.
yes… i think you should. while it is still somewhat fresh in your mind. I have seen ppl get killed (below 50 in everything) and passed the second time around.
your situation is inspirational. I think even though you are 37, and if this is what you want to do, you should continue to pursue your goal!
Following curriculum is good. If you think of appearing again, at least for FSA use schweser.
December 2007: Level 1: Fail The table below illustrates your subject matter strengths and weaknesses. The three columns on the right are marked with asterisks to indicate your performance on each question or topic area. Multiple Choice Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Assets 12 * - - - Derivatives 12 - * - - Economics 24 * - - - Equity Analysis 24 - * - - Ethical & Professional Standards 36 - - * - Financial Statement Analysis 68 - * - - Fixed Income Analysis 24 * - - - General Portfolio Management 12 - * - - Quantitative Analysis 28 - * - June 2008: Level 1: Pass The table below illustrates your subject matter strengths and weaknesses. The three columns on the right are marked with asterisks to indicate your performance on each question or topic area. Multiple Choice Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Investments 8 - - * - Corporate Finance 20 - - * - Derivatives 12 - - * - Economics 24 - - * - Equity Investments 24 - - * - Ethical & Professional Standards 36 - - * - Financial Statement Analysis 48 - - * - Fixed Income Investments 28 - - * - Portfolio Management 12 - - * - Quantitative Methods 28 - - * It’s very possible, but I studied a lot the second time around. I have no kids and studied more than 10-12 hours a week. I think 10-12 hours a week from now until a month left is enough, and then put in more time for the last month.
Cut him some slack, at least hes not giving it away like so many on this forum. farley013 Wrote: ------------------------------------------------------- > There’s no writing involved. It’s all multiple > choice.
I would go for it…remember, you’ve already learned most of it once, so it’s not going to take you that long to learn it again…then you can spend more time of the stuff you didn’t so well the first time around
its not going to be tougher next time. So take it. Atleast by now, you knew what to expect and go from there.
You did better than me, got a 5, and I have a finance background and 1 daughter. Do it!
farley013 Wrote: ------------------------------------------------------- > There’s no writing involved. It’s all multiple > choice. Douchebag! If you have nothing constructive to say, keep your smart-ass comments to yourself.
You didn’t describe your career situation. If the CFA designation would be good for your current career, then go for it. If the CFA designation wouldn’t do anything for your career, then maybe don’t go for it. And I say this as someone who is awaiting L3 results… Level 1 is a joke compared to L2 and L3. Be sure you want to do this, because it’s only going to get harder.
If this is what you really want, I say stick with it. I used Stalla & one of my instructors said it took him 7 years to pass all 3 sections. I also heard another instructor explain it using a 90% confindence interval. 5% of candidates will easily pass Level 1 and probably all levels the first time through. Then there are 5% of candidates who will never pass Level 1 let alone 2 or 3. I would guess if you failed and got a 1-3 on your rating you might fall in this category. That leaves the 90% of us who can pass, but it will be a lot of work, you just have to stay determined. I have now taken Level 1 exam 3 times and failed each time. I studied very hard for June 2007 & June 2008. I blew off December 2007 but just took it. I got my results and imediately signed up for December 2008. The commitment is to get the Charter, not pass each exam on the first try, that would be nice though. I know I can pass this stupid test, I just have to keep studying & work on the areas I have been weak. Stick with it, this Charter will never hurt your career in anyway! Plus consider all the time & $$$ you have already commited to this? Do you want to throw that away?
This is a good point, Frisian. I am a personal financial planner working in a bank -8 years experience. I have a financial planning designation and a four year degree in Psychology with a minor in comp sci. (I was a teenage mother and went to university as an adult, that is why I have a short work history). While the CFA course content does make me a better advisor, it doesn’t translate into any more dollars in the current role I am in. I enrolled in the CFA to broaden my career options - interested in fund management or possibly analyst role…though in looking at the job postings I realize that I would probably take a pay cut for a junior analyst role…lol. Kind of a unique situation as my kids will both be (hopefully) in university by the time I’m 40, so I can make a move career wise and geographically to wherever the opportunities are…
Hey guys, I’m a L3’er here waiting for my results still. I know exactly what you guys are going through for those who failed. I failed L1 the first time around and I freakin thought I aced it. I started studying in December, did all the notes, bought all the practice exams, basically did everything available to cover all bases. But people must realize, sometimes we fail for simple things such as lack of confidence, not having a good nights sleep, focusing on the wrong topics etc. I truly believe that if you are borderline, (and i know that i have seen this somewhere on the cfai wesbite), that your ETHICS marks will weigh heavily on weather or not you pass or fail. So strong suggestion is DO NOT simply use study notes for ethics, you MUST read thoroughly the standards of practice handbook. I carried that thing everywhere with me, on the toilet, subway to work, lunch break etc… and my second time around my marks looked lower but i killed ethics, and i really do believe that it had to do with my passing. keep your head up guys, theres people i know who fail level I like 5 or 6 times, so if you failed it once or twice dont sweat it. Take a few weeks off to simply relax and then go at it full force.
“do your time” its the toughest part. but kinda straightforward, spend more time (loads) and you “will” do it
I have a similar story to Topher. You have to take it to the next level and immerse yourself in the material. Give up the majority of your activities and study almost every night for several months. Just casually reading the material for fun is educational sure, but it will not get you through the exam. December 2006: Fail Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Assets 12 * - - - Derivatives 12 - * - - Economics 24 - - * - Equity Analysis 24 - * - - Ethical & Professional Stnds. 36 - * - - Financial Statement Analysis 68 * - - - Fixed Income Analysis 24 * - - - General Portfolio Management 12 - * - - Quantitative Analysis 28 - * - June 2007: Pass Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Assets 12 - - * - Derivatives 12 - - * - Economics 24 - * - - Equity Analysis 24 - - * - Ethical & Professional Stnds. 36 - - * - Financial Statement Analysis 68 - * - - Fixed Income Analysis 24 - - * - General Portfolio Management 12 - * - - Quantitative Analysis 28 - * -
Don’t give up!!! I totally understand your situation - same as you, I’m a working parent with the full responsibility to take care of a young child at school; a sick parent at home and demanding job at work! But I chose CFA program as my personal goal partly because of my interest in finance area and partly hope there’ll be a chance for future career advancement. So we should keep up our effort and use this forum as our spiritual support! Don’t give up, Sarita.
Failed with these scores…must have been quite close. Was in the 90th + percentile amongst the stupid ones. Oh well. “Level 1: Fail The table below illustrates your subject matter strengths and weaknesses. The three columns on the right are marked with asterisks to indicate your performance on each question or topic area. Multiple Choice Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Investments 8 * - - - Corporate Finance 20 - - * - Derivatives 12 - * - - Economics 24 - - * - Equity Investments 24 - * - - Ethical & Professional Standards 36 - * - - Financial Statement Analysis 48 - - * - Fixed Income Investments 28 - * - - Portfolio Management 12 - - * - Quantitative Methods 28 * - - We have divided the full group of failed candidates into ten approximately equal score bands. Your score band below shows how your overall score on the exam compares with all other failed candidates. For example, if your reported score band is 1, you scored in approximately the bottom 10% of failed candidates. If your reported score band is 2, your score was within the next band width ranging from approximately the bottom 11% to 20% of failed candidates. If your score band is reported as 10, you scored in the top 10% of all failed candidates. Performance band of your overall score among all candidates who failed the exam: 10”
Take it.