CFA_Halifax Wrote: ------------------------------------------------------- > Moi!!! > > 10th band, saving my $100 though. This has to be the biggest upset so far. I thought you would pass. I hope you find the job you’re looking for in Calgary, takes enough of your time so you don’t have to write this test again.
Performance band of your overall score among all candidates who failed the exam: 5 I know I did bad in the morning, I just don’t believe I couldn’t make it up at afternoon though. Man, should have gone to Anime North instead
Whack! The train leaving to charterholder status left 47% of us stranded behind, too full to add just a couple more heads, bastards! Now, what we wait another full year for the next train and even then with an unfavorable passing rate, brutal! What’s with the damned bands. Does a band of 10 pour salt on the wound; were we that close? I like big PIMP’s attitude, though not really looking to ace everything; just get the damn passing score. I’m not sure what to make of ELIAPAs comments, but every level just seems to be a crap shoot for those at the margin…i’ve seen terrible scores be rewarded and attractive scores be punished… The sad part is, the strategy i’ll employ next year won’t change that much…
Failed too. Got blasted on the essay + fixed income. Gonna go brush up on my English writing skills.
former trader Wrote: ------------------------------------------------------- > CFA_Halifax Wrote: > -------------------------------------------------- > ----- > > Moi!!! > > > > 10th band, saving my $100 though. > > > This has to be the biggest upset so far. I > thought you would pass. I hope you find the job > you’re looking for in Calgary, takes enough of > your time so you don’t have to write this test > again. Yeah…hopefully. Doing this either way next yr. Morning was absolute sh1t. See my “Theory” post. I hope this doens’t hurt my employment prospects…don’t think it will though…
former trader Wrote: ------------------------------------------------------- > CFA_Halifax Wrote: > -------------------------------------------------- > ----- > > Moi!!! > > > > 10th band, saving my $100 though. > > > This has to be the biggest upset so far. I > thought you would pass. I hope you find the job > you’re looking for in Calgary, takes enough of > your time so you don’t have to write this test > again. I second this. I thought Hali would definitely pass. I read a ton of your posts and found them very helpful, and you seemed really on top of the material. Bummer.
Thanks guys. I’m proud of what I did. I truly feel like the guy who finished second to Phelps in the butterfly. Raced fine (knew the material) judging from PM, technique was bad (AM), he couldn’t get the arms out, I can’t write I guess for sh1t
Same thing happened to me. L3 strategy should be different than I and II. After I failed L3 last year, I decided to use candidate readings. IH8FSA Wrote: ------------------------------------------------------- > JoeyDVivre Wrote: > -------------------------------------------------- > ----- > > I’m pretty surprised by that result IH8FSA. > WTF > > happened? > > > Hey JDV, > > Thanks for the thought of me passing. > > My problem was that, I used Schweser for L1 and L2 > and passed on first try. > > Here comes L3 and the notion took over that I > should use the CFAI texts because I thought CFAI > would want to prove that using their texts were > superior and also due to the stab at schweser > users at that 18 mark L2 question on black > litterman model. > > So i strictly focused on the notes, started in > january, took a month off from work, made actual > written notes as well from all the texts. > > But i guess I was used to the schweser method so > much that the note taking wasnt sinking in, there > was just too much stuff using the texts. > > I know it’s just an exam, but this just cost me a > new job, and stalled my life 1 year from moving > homes as well. > > I think i’m going back to schweser, and since the > material is the same, will use notes as reference > instead, and for some more in depth topics. > > I guess will see you guys in the new year.
Was aiming for a 3x3 but I guess my luck ran out this time 'round. I had a pretty “ok” feeling about this exam, however, what did me in was my miserable score in the Ethics section. I’m placed Band 9 - not too shabby yet still not good enough to clear the MPS… The feeling is hard to describe. I don’t feel sad - I love my job and this exam has absolutely no impact on my career. The more appropriate word would be “emptiness” from knowing that I had expended precious time and money studying for all 3 levels when I could have channeled those resources to more productive means… Anyway, it’s nice knowing all you virtual identities (!) esp. during the exam when I needed to know that other ppl were “suffering” in the same boat as well 
I ended up passing, but I spent a huge number of hours preparing - January until May, with a job that allowed me more time than most in the industry. On walking out of the test, this is what I wish I would have done, or that I knew I did right. 1. Taking old CFA exams (2001 - 2006) and carefully reading the answer keys. It is hard to actually take practice essays, but when you read the official answers, it really guides how to take the test. Many times in practice I would write four paragraphs about a topic, and see they covered it in one sentence. Similarly, ideas that I didn’t even think about were brought up in the longer essays for full points. I did this right, which is why I passed, but I would spend more time on it and earlier if I was doing it again. 2. Don’t read CFAI until you have read Schweser (or Stalla, I guess) and done a few dozen problems. Until you understand the big picture concepts of each topic, there is no point to reading 500 details that your mind won’t retain unless you are one of the truly gifted ones. This was my biggest mistake. I would spend hours reading and not retaining, rather than doing Schweser book & Schweser QBank problems. It takes much more energy to work problems, but the result is it forces you to learn. You know what you know and what you don’t know. I wasted a lot of hours because I was too tired/undisciplined to do problems, and it was easier to veg out reading CFAI. 3. Be sure to read all the CFAI, but read it after you understand the big picture of each topic. Then you have a framework of understanding in your head for where to put all the details and allow them to fit together for quick recall. 4. I thought the essay questions were exactly like the old tests / practice tests. Items I knew well, I scored well on. Areas that I read and thought I knew but had not done a lot of practice problems, I did bad on. I wrote partial answers to set up the problems, even when I knew I couldn’t complete the problem, and I am sure this helped. (Given enough time, I think I could have worked out all the essay questions by trail and error, but you don’t have enough time for that, obviously.) 5. I took 3 practice exams online, and scored a 70%, a 68%, then a 50% two days before the test. I almost shot myself. But I think they were valuable.
I failed too, still crying… I studied 375 hours, took all possible tests… one crucial mistake -didn’t study from CFAI books much. I’m really bummed… Will take a while to pick myself up and dust off…
I failed too - it was the AM IPS and PM ethics that screwed me. I had a performance band of 10. Just re-registered for 2009. I will kill this mofo next year.
PIMP, I have an identical performance to you…we gotta tackle this thing the same way next year…
9 Band
Failed, 7th band. Looks like I messed that phantom essay question. Than again, judging by the rest of the essay scores not sure it would have helped. Level 3: 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. Essay Q# Topic Max Pts <=50% 51%-70% >70% 1 Portfolio Management - Individual 36 - * - 2 Portfolio Management - Individual 9 * - - 3 Portfolio Management - Institutional 36 - * - 4 Portfolio Management - Asset Allocation 17 * - - 5 Fixed Income Investments 13 - - * 6 Alternative Investments 11 * - - 7 Portfolio Management - Risk Management 17 * - - 8 Portfolio Management - Execution 14 * - - 9 Portfolio Management - Monitor&Rebalance 9 - - * 10 Portfolio Management – Performance Eval. 9 * - - 11 Portfolio Management 9 * - - Item Set Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Investments 18 - - * - Derivatives 18 * - - - Economics 18 * - - - Equity Investments 36 - * - - Ethical & Professional Standards 36 - - * - Fixed Income Investments 36 - - * - Portfolio Management 18 - * - 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: 7
386 hours read all schweser notes 16 week schweser course online 2 CFAI text sessions - mostly Fixed Income CFAI back of chapter problems (for the 2 sessions read) All schweser book 6 book 7 - PM only All online mocks and practice 2006 through 2007 prior AM tests Result: a 6 Band 37 yrs old, frustrated and feelin stupid!
IH8FSA, mmeredith, Iwona pass, and others, To those who didn’t pass, I can only say you’re going to destroy this exam next year. The curriculum barely changed for 2009. Don’t even think about giving up, I know it’s hard, with all the sacrifice you have to put in again, but power through! You WILL pass next year. Don’t think about it for the next 6 months, and come January (start early), aim to ace this sh*t. I don’t think you need pointers from those who passed, not if you’ve come this far. I know what it feels like to see that “Fail”, I didn’t pass Level II the first time around. If this is your first fail, think about how few the candidates are that go 3 for 3 (and they ARE few). I have no statistics to back me up, but I believe the vast majority of us will fail at least once. Level 2 was my fail. This is yours. Good luck guys. It’s a great feeling to pass Level 3, and you deserve to experience it for having come so far.
Thanks Shads!!
IH8FSA Wrote: ------------------------------------------------------- > 3rd and Long- > > As I understand, they dont re-grade your exam but > they only count the scores again, (and apparently > they are counted numerous times) > > I also heard that there has never been a > successful regrade in CFA hsitory. > > HOWEVER- for me personally, I WOULD regrade with a > 10 band, not even just to hope i pass, but $100 is > worth it for my own peace of mind. I am the type > of prson who would always wonder “what happenned > if i re-graded” etc. > > I would rather lose $100 to have a peace of mind 3rd & Long, CFA Halifax, IH8FSA, ccbond, sh34 and others… In my opinion, CFA Halifax, myself, and 3rd & Long are the most likely to have their scores changed (in that order). I get a 62.72%, a 62.22%, and a 61.5% for the 3 of us, respectively. I’m serious about getting a retab. I called the CFA Institute and spoke with “Matt”. He told me that they have changed exam results in the past. They do not grade the test again, they just simply count the points again. He knows of at least 2 or 3 results that have changed in his short time of working at CFAI (he didn’t say how long though). He said that L3 is the only level that you should even consider getting a retab, and I think I’m going to do it. I’m going to keep monitoring AF to see how I compare, but right now CFA Halifax is the only one that got higher than me and he won’t even consider a retab.
IH8FSA, I seldom post on this forum. But I try to browse as frequently as I can and I have enjoyed some of your posts. I think that the key is to get more than 70% in the two areas with 36 points each and the areas with 17 points each. That should allow for the minimum pass score in the morning session. If similarly one can get more than 70% in all the 3 areas with 36 points each in the pm session, that should give the minimum passing score I guess. I understand that everybody here worked very hard for the exam. But along with hard work being a bit a bit smart would not hurt. I would suggest you guys to focus on the areas that carry more weight. If you can master those areas, the debate of Schwesher or CFAI Books should not matter. Just my humble opinion.