First post, but have been reading for some time! I just wrote L2 in June - as we get closer to finding out if we passed, I am becoming more and more pessimistic about my chances… So, I have been looking at some alternatives to Schweser if I have to re-take L2. I came across this course that is offered by the University of Toronto - Called “Passing the CFA Exam”. Link: http://learn.utoronto.ca/Page1483.aspx The instructor has won numerous awards and he claims an 88% pass rate for level 2 candidates who took his course. - For those who don’t know, Universtiy of Toronto is a presitgious institution - Not likely to make false claims. Souds great, but the course does have some problems: 1 - The cost is $3,000 2 - The course lasts 10 months (starts in October) - Seems too long to me? I was hoping that someone in here has taken the course or has heard about it - Curious to get anyone’s thoughts. Thanks!
We are committed to your success. If, upon completion of your course, you write the CFA exam and do not pass, you may attend the School’s next CFA Prep course at no additional charge . * WOW… * Some conditions apply - ask your instructor for details obviously… But, I wonder if they would even cover all the little things, cause thats where it counts. This years exams left out so many ‘core’ topics, that even a prep class may not have helped…
sounds like a huge rip-off (haven’t taken L2 yet)
nodes said agreed
There is a schoo in Singapore which claims a higher pass rate.
GetSetGo Wrote: ------------------------------------------------------- > There is a schoo in Singapore which claims a > higher pass rate. Is that like a Swami or a Guru?
I know tons of guys who would pay $3K without thinking if they could get such odds at a place in NYC. Maybe NYU needs to start a course like this? Although considering it costs 175 just to use Bobst Library for 6 months, they ll probably list this at $5K minimum
this is ridiculous. I rather attempt the exam 5 times ($600x5), even if I’m at 50/50 each time, I’m bound to get it around #3 and save $1200. But I mean, if you study like you were IN a course like that for 10 months, you’d probably create your own probability of 90% as nodes was getting at.
MattLikesAnalysis, you can save ALL $3000 if you don’t take CFA it all.
Just a quick calculation: 10 months at 3 hours/week (just for the classes) is about 130 hours of studying. Add in another 5 hours a week on your own, and you’re up to about 350 hours. And this assumes only 8 hours a week of prep time. Also, starting this early, you’d be done with all material in plenty of time (no scrambling to cover derivatives at the last minute), and have plenty of time for review. My guess is that the pass rate for people putting in > 350 hrs of prep time is in excess of 80% (note: IMO, putting in 8 hours a week for 10 months is better for learning/retention than putting in 16 hours/week for 5 months). So I doubt that the class itself adds much at the margin, given that that you’re already putting in the time.
oct 1 nov 2 dec 3 jan 4 feb 5 mar 6 apr 7 may 8 june 9 july 10 If the course starts in October, you’re going to miss your exam.
MattLikesAnalysis Wrote: ------------------------------------------------------- > this is ridiculous. I rather attempt the exam 5 > times ($600x5), even if I’m at 50/50 each time, > I’m bound to get it around #3 and save $1200. But > I mean, if you study like you were IN a course > like that for 10 months, you’d probably create > your own probability of 90% as nodes was getting > at. what about opportunity cost?? That 5 years!! Even if its 3 yrs, your time is worth more than the 3k. If it was close by, I would consider it.
i know the instructor (mike hlinka, i think)… good guy… sounds high, but i guess it would be somewhat consistent with those who take the exam really seriously and work at distinguished firms that have no problem paying that… still sounds high. problem i have with these courses is that they probably just cover generalities. and i had no problems with things in general. my problem like many people was with nittiness and classifications/exact defintions etc… can’t see a course helping too much on this. EDIT: is a course really going to help me with the 5 functions a compensation committee serves and what it actually does?.. or the exact name of some internal credit enhancement??
Stalla also makes similar claims, they’re cheaper (costs about 1/3 of that price C$) and they honour the retake guarantee, (the “condition” is you have to complete all the assignments and achieve 90% in each chapter) there are “live” classes in Toronto somewhere, but live means a live instructor for coaching and the Stalla Videos used for teaching. b4 anyone says, I don’t work for Stalla, just used their stuff
Kewl: Delurking to post here as well… Can’t speak directly to the Level II course, but I took the Level I course with Mr. Hlinka at U of T this past year, wrote the Level I exam on June 7 and passed. Yeah, the price is high, but the Level I course was excellent, thorough, and in my opinion, was a great way to prepare. Mr. Hlinka is a great guy and an awesome instructor.
Hey All - thanks for the great feedback and food for thought - As I start internalizing some of this I think that if I fail (really hoping not to), I will likely sign up for a course. I agree that $3,000 is steep, but the sunk costs (time invested and money spent) of having to re-write the exam a 3rd time are just too high… Follow-up question for CM98041: I had some similar concerns to one of the previous posts concerning the ability of the instructor to delve into the details that seem to come up more than is deserved on the CFA exam… Can you or anyone who has taken the course speak spricifically as to how this instructor deals with this aspect (i.e. covering the details?) Thanks again all - keep the comments coming… And, Good luck to everyone for Tuesday! I am crossing my fingers for us all (and toes and any other appendages I have free)
one nice thing about mike hlinka, the instructor, is that he is really nice guy and he has absolutely infectious enthusiasm.
i would have never advocated this course last year but after failing and then having to retake it i can totally see the value in it. you’re more or less just paying to get yourself a guaranteed pass. 88% is pretty close. $3000 is low if you consider opportunity costs. plus they provide you with study material. i’m not sure exactly what they give but you can probably know off 500-1000 from the study material and sample tests that you will receive. i would have considered this if i knew more about it back then.
I passed level II in 2006 in Toronto without taking any course. It all depends on yourself.