True. It bothers me, however, when people get up on their soapbox preaching their own regrets and discouraging those who should not be discouraged from pursuing their own reality.
You have to understand too Greenman works in accounting already so for him, this isn’t a neccessity, it’s a “good to have” and during this time he also started a family so the cost/beneift for him is very different than mine, for instance.
I can’t believe this had to be said. Thanks for your input. I’m just surprised that people taking this exam can get so finicky over someone telling them their version of the truth. Thanks as well to greenman, your help is very much appreciated.
As for myself - I failed L1 and will take it again. I read your advice Greenman, and I think the best translation is this: get real or don’t try at all. L1 is just a minimum performance bar, and if I’m not passing it comfortably then I won’t be able to finish the program. Your advice is duly noted.
SCENARIO 3
I passed level 1 with less than 3 months study and 80hours job. I have just got married and my wife will be moving to my country of stay and thats what is forcing me to think whether to pursue this June or not.
What you people recommend ?
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Shall i try level 2 this june? Does it make a difference if I fail it once in June and pass all exams later on? My problem is, i want to see on my CV ‘Passed CFA in shortest possible time and in first attempt’ , so i fear failing in June.
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Shall i just skip this june , relax and enjoy with my newly wed wife , do some excel modeling and power point courses, focus on the job with more attention?
If I decide to take test this June, I will be studying schweser only like I did for level 1.
Please advise
Sometimes we know the most obvious things but it becomes real when someone else says it.
That’s why there are so many “famous quotes” that really, are as straight forward as “your mother is a woman” but if it’s said by someone famous, suddenly it becomes substantial.
Anyway, i think to each their own, people tend to read what they already believe. but i try to remind myself to keep an open mind because taht’s the only way to learn.
Honestly, i wouldn’t look at it from the perspective of how your future employer MAY look at your exam records. because i highly doubt, since you work in the industry already, they are going to judge you base on how many times you took L2.
The question is, can you commit at least 300 hours of studying before june? If not, then perhaps register early for June 2015!
NANA - does it make any difference between the one who passed all exams in one go and the one who didnt?
I have not come across anyone i know who works in finance where the employers ask them during the interview how many times you have taken at each level.
SOME employers probably do, but i wouldn’t say most of them do.
CFA charter is just a certificate, an entrance ticket, don’t associate your pride your compentency your potential your aptitude with how many times you have taken the exam. Other people do not care nearly as much as you do.
If you don’t think it makes a difference, it doesn’t make a difference.
If you are working full time in the industry in a meaningful position, then you’re probably working 50-60 hours per week minimum. Employers know this and it certinaly factors into why some candidates have to take a second swing at the exams. Now, if you’re working in a non-meaningful industry role or are a student and you had write multiple times than I would question how hard you actually applied yourself to the exams (and likely judge your work ethic overall).
CFAI does not release anything to employers except your status. So in your case, whether you are taking Level 2 for the first time or you have failed Level 2 5X before, they will disclose the exact same status.
This is true, but in my experience, the truth tends to surface eventually. And if I hear that that somebody took any level of the test 5 times, I’m wondering “Why?”
I wouldn’t worry about telling somebody that I failed an exam. I know very few Charterholders who claim to go 3/3. I would, however, worry about telling somebody that I failed any level more than twice.
Everyone has their magic number, for you, it’s twice for each level. For others, it could be 3 times, or, fail no more than once in 3 levels…
Whatever that is, it is ALL IN YOUR HEAD. People don’t care, people won’t find out until you tell them. Lie if you must.