Excuse my bluntness… but if you have registered an exam, wouldn’t you feel you owe it to yourself to try the best?
I understand sometimes accidents happen, you got a new job, a baby, hospitalized, death…
But did you try your best this time around?
I’d say, since you registered for the exam, you should always try your best and learn as much as possible. After all, you never know when these skills will come in handy.
I find it odd that you go around being apocalyptic about failing Level I, implying that failing level I (or even being nervous about it) means you won’t be able to hack it in Level II and Level III…and now it turns out you failed Level I and went on to pass the 3 exams. I’m not sure what you’re trying to accomplish by being so negative with Level I Candidates.
I don’t think she can control his personal life. i mean was she there at 11pm in his bedroom? was she there on the weekend monitoring him?
I think yes, having employers support is great, but i don’t think that’s a valid reason. first of all, L1 really doesn’t need to go to classes for, in my opinion, or at least not mandatory anyway (i would assume MOST candidates who passed have not attended lectures). And as long as his boss isn’t monitoring him 24-7, he can find time outside of work hours to study, like every other person in the exam room.
Try your best in June and if you don’t pass, you really haven’t wasted your time because you will be THAT much more prepared for 2015! Plus you likely won’t need to buy new set of books for 2015, because it’s only a year old, so even if you have to retake L2, it will only cost you the exam, which is $650USD or something?
I would just do the study guides since time is ticking and then do as many questions as possible. IF you are stuck in some topics, do the videos and see if they help, if not, move on and go through everything else first. Come back to those topics during final review and see if they come up in mock exams at all.
I wonder how many times the company is going to pay for it though. i think they would pay for each level once, and POSSIBLY a 4th time, but i don’t know if they will keep paying if you can’t pass the exam twice on one level.
Congrats on passing the exam, and if this is the industry you’re in… unfortunately i don’t think the work hours will get significantly less one year from now
I highly doubt it. Report cards are due close to the time that the June exam is written so I’ll be doubly stressed, and I want to take my time. I could try to take it and just use it as experience for 2015, but I’m hoping to do all three without failing (however unlikely that may be). I’m working 6 days a week and prior to CFA had no finance background, so I think turning around for this June would be too stressful and time consuming. Plus I’m in no rush to finish as I have a decent paying job right now.
I couldn’t disagree more. The CFA isn’t a measure of brain-power, it’s a measure of how hard you are willing to work and how bad you want the charter. Each time you take the test and fail you are that much more familiar with the process and once you get your results you know what you need to focus on even more than before.
I failed L1 last June with a sub 50 in Corp. Finance and Economics. I hit those two sections HARD before I re-took the 12/7 exam last month and scored a 70+ in corp finance and a 50-70 in economics which is probably the hardest section of the exam.
I personally do not share the same comment as Greenman, i don’t think people should stop after 2 attempts, i think people certainly should evaluation their situation after EACH attempt - whether you pass or not.
If you have the motivation to pass, why not? i think people who fail and come up with excuses will not make it far, but people who just keep doing it knowing what they need to do will eventually get it.
Some takes 1 hour to finish the marathon, some takes 3, but if you get to the end, you will still get the same satisfaction!
For those who will benefit from the charter and have the aptitude and attitude to obtain it…they will probably never be in this position. And they will never listen to, nor need my advice.
My advice is generally meant for those who think that the CFA exam will propel them to riches, or those who really don’t have the aptitude or attitude to finish it. I’m just trying to make sure that they don’t unnecessarily waste their time or energy chasing something that will never come to fruition, because most people (like me) have no idea how much it will actually take out of you.
What if somebody had given you similar advice after you failed the Level I test? Maybe you would have trudged on anyhow…but some people value the opinion of others too much, and may stop when really they absolutely do have the ability.
If I had failed once (like I did), and somebody gave me the advice to quit after I had failed twice, then…I would have taken the test again (like I did) and passed (like I did).
And if I had failed any level twice (which I did not), then I would have quit.
Seriously, SpareTime–you need to work on your reading comprehension skills.
So it’s possible to fail once and end up passing because you did it, but if you fail twice it’s not? Something tells me if you had failed a second time you wouldn’t be saying this.
Do always take other people’s opinions with a grain of salt.
People always speak from their own reality, they may not be the same as yours.
But there are always truth in other people’s stories so it’s good to learn them and digest them and use their experience as a reference.
I don’t suppose people who work in the IB industry and need to pass CFA would give up after 2 attempts. Someone who just looking to switch career and take the L1 may be.
