Blew through L1 & L2 but failed L3 twice. Very disappointed, naturally. a bit depressed even. Will need to come up with a better strategy for next year.
I blew thru L1 and L2 with just the schweser notes. I failed LIII six times. This year, I actually used the boring CFAI texts. I think the exam is getting harder and harder. Back then, a 55% mps was all that was needed to barely pass. I think CFAI wants to raise the bare of candidates. Eventually, will need >70 in almost all sections just to pass. I am sad that this exam is getting harder than applying for MBA school.
Blew through L1 & L2 but failed L3 twice. Very disappointed, naturally. a bit depressed even. Will need to come up with a better strategy for next year. same here definately and serioulsy need to come up with some new game plan failing band is 7, not even 10 in a second try
venkat Wrote: ------------------------------------------------------- > 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. Hey Ven, thanks for the response. I would say that it’s not about weather I covered the material. It’s the way the texts and schweser carry out in trying to convey the information. I found the texts very mispalced and disorganized. Sure all the information might have been there, but it gets confusing when you see the same topics appear in 3 seperate Los’s on 3 different study sessions, all with added/different information. I’m not blaming anyone else but myself, but all i’m saying is that I think with l1 and l2 I got used to schweser and the way they teach, and since im not that good at retention, the drilling of questions by schweser probably would have had a better effect on me than my long note taking and reading process of the texts.
maybe it’ my spelling and grammar where they took marks off? wow, looking back at some posts it’s horrible!!! i really hope it had nothing to do with my messy writing and mixed use of pencil and pen
sh34 Wrote: ------------------------------------------------------- > I blew thru L1 and L2 with just the schweser > notes. I failed LIII six times. This year, I > actually used the boring CFAI texts. I think the > exam is getting harder and harder. Back then, a > 55% mps was all that was needed to barely pass. > > I think CFAI wants to raise the bare of > candidates. Eventually, will need >70 in almost > all sections just to pass. > > I am sad that this exam is getting harder than > applying for MBA school. Were all 6 attempts worthy efforts? Any of those years did you just “show up” without studying? Lucky 7?
Guys just wanted to pass on my condolances. The exam is brutal and at times makes no sense at all, but having got this far you will get there and when you do, unbelievably, it is all worth while. If I can add any value, my only advice would be to concentrate on issue rather than style on the morning paper. Last year when I passed I basically wrote points on the am paper. Certainly would have failed an english test but covered the relevent data. When the model answers are released in Oct/Nov read them carefully, it is a real eye opener as to what they want and you will find that the answers are much shorter than you think. As I say, hang in there and you will get your reward
XSellSide, I was really close this year.(the closest that I have ever been). Was in Failure band 10. Looks like the <50 in the Indiv IPS and Ethics doomed me. I feel that the Ethics questions were crap shoot this year. Steven
Re: So who else here Failed with me??? I need some company! new Posted by: flyflyyan (IP Logged) [hide posts from this user] Date: August 19, 2008 05:07PM Blew through L1 & L2 but failed L3 twice. Very disappointed, naturally. a bit depressed even. Will need to come up with a better strategy for next year. same here definately and serioulsy need to come up with some new game plan failing band is 7, not even 10 in a second try Oh and I forgot to mention my band was 5- second try. what the h@#L???
It’s about collecting fees from returning candidates and not testing knowledge in an objective fashion, like other professional exams
I dont know L3beatit I am still digesting the result, digesting this record-break 2nd fail, which has never happened to me in my study I did not mean to offend or what, I myself is very down… next year should be my last try, take it or leave it. the exam is brutal, half of year of your personal life is gone we, the re-takers, are all couregeous warriors in some way. I always believe, everything happens for a reason. the repeating will have some impact and hint on our life. try to start as early as possible this time. i am not going to take .000001 chance
Hi Failed as well. Not shocking but still very depressed. Just thinking about going through the study process again, is killing me. Studies with only Schweser notes for level III. Not sure how i gonna do it in 2009 though.
Something has been troubling me a long while, but it is now time to make this public, and seek other views. First-let us not forget that a number of colleges and universities offer the CFA curriculum in their courses . Second finance courses are becoming more common-and so it is likely that the quality of candidates is improving, not declining even as enrolments grow, as CFA would like to us to believe. I have read the comments of those who have passed and those who have failed. I have my own experience with this exam, as well as other exams in areas of finance, law and science. I have also written academically. Given this background, I have always wondered how it is possible, especially at Level 3 , to determine what the precise right answer, or “range of answers” is. Then, how do CFA markers account for different interpretation of questions? Exam setters at CFA may well be experts in finance but are they experts in English? It is well and good to say that the difficult part about the CFA exam is trying to figure out what CFA wants-but really, is this not just proof of poor English? And given evidence of poor English in the setting of questions-what about the actual marking? For anyone who feels that the above is a matter of sour grapes; let me ask you this-how many times have you read, Schweser, Stella or even the CFAI material , looked at the questions, and thought-this cannot be right? So-what I am getting at is this –something needs to be done about the above –maybe a popular protest via this forum which I understand CFA reads. Otherwise, I fear that many of us are going to remain here a long time trying to find reasons/excuses for blaming ourselves for failing-and not CFA. Comments?
After 3 tries on this level, I have no idea how the heck I can pass this. Definitely not by starting early or reading the materials multiple times. Or perhaps my writing skill is poor enough to piss off the graders…
Failed this year as well…Band 10. Passed Levels 1 & 2 quite easily…Like Monk, I also think the interpretation/correction of English language must be an issue here. And it would be very unfair if we are penalized just because of language problems! I believe the pass rate also proves it with candidates in Africa & Asia having much lower pass rate…
It is ridiculous to see that my AM #Q2 is below 50%, which is almost exactly the same as one old question in 2005 and I am confident that I nailed it in the exam. Did the guideline answers changes as time passes by?! I had no clue about Q9, but I got >70%. Though it may sounds like a loser, I think it would be better if CFAI can give us a chance to know how graders marked…
How is it going y’all I’m new here. Just one question I can’t seem to answer. How the f*** are we going to get through that morning session??? I mean it’s not about studying at all!! June08 they put 11 questions instead of just the usual 9 They were broken down into too many sections too We had 3 hours to finish an exam that requires 5 freakin hours I have no plan as to how to get through June09 Don’t get me wrong. I’m good with critical writing and all but that was a frustrating racing contest for cryin out loud!!! Any advice??
So perhaps instead of taking any review course, we should first take a speed writing course. I am band 8, but not sure if I should feel any better than those who got 10. This was my third try and I wasn’t even close to passing… so I have no idea how I am gonna do that in 2009 unless CFAI raises the pass rate to 60%+…
Also -should add-the CFA is supposed to be a post-grad qualification ie -thinking allowed; regurgitation penalised.
totaleclipse Wrote: ------------------------------------------------------- > How is it going y’all > I’m new here. > Just one question I can’t seem to answer. > How the f*** are we going to get through that > morning session??? > I mean it’s not about studying at all!! > June08 they put 11 questions instead of just the > usual 9 > They were broken down into too many sections too > We had 3 hours to finish an exam that requires 5 > freakin hours > I have no plan as to how to get through June09 > Don’t get me wrong. I’m good with critical writing > and all but that was a frustrating racing contest > for cryin out loud!!! > > Any advice?? Totaleclipse and others, First of all, if you’ve made it this far then you can definitely pass level 3. As you know, passing all the CFA exams is not just about knowing the material, it’s about knowing the material inside out and being able to answer a question without having to think. Pure and simple. Level 3 am session especially is exactly that. Especially in the level 3 am session, you’re not given time to think. When the question pops up, you need to know what to do right away. Therefore you need to have already seen similar questions in your preparation. The exam is not designed to give you time to think, it’s designed to let only people who know what to do right away pass. If you don’t know the answer, pick up as many points as you can, put in a couple of formulas, and move on. You need to work like a machine. To do all this, I did TIMED practice exams, morning (2005, 2006, and 2007, and Schweser) and afternoon sessions (Schweser, and CFA online sample exams which I flunked, until the mock exam, which I aced). It’s not enough to just go over previous morning sessions and solve the questions in a relaxed manner, that doesn’t reflect the actual stress of the exam. Good luck next time, I’m sure you can do it. Just remember that if you’re not going all out for this exam, you’re not doing enough to pass. The morning session is a killer.