So my friend started his CFA prep classes in NYC last week and his instructor noted to everyone that it’s probably going to be one of the hardest level II’s thus far… This is going to be a fun ride.
how does he know?? and even if he did, arent they super secretive about it.? maybe told them that to make them work harder… didnt they fuck enough ppl last year with Treynor-Black??
Does he work for the Psychic Friends Network?
they can make it as tough as they want. Its the pass rate that matters in relation to the difficulty.
That’s their business. They follow the following format: 1) show that the goal is worth achieving (designation is widely recongnized); 2) show that it’s challenging (give a few difficult problems and say it’s hard); 3) show some testimonies of people who did well after taking their classes; 4) tell you that even though the exam is hard (see 2), they are really good at training (see 3) and they will help you achieve your career changing goal (see 1).
Sounds like a scare tactic to keep you motivated and focused. Hopefully it works for you because I’m sure in any given year L2 is a biatch. But this guy would have no clue what the pass rate is going to be and at the end of the day it doesn’t matter how hard the test is, only how well you did in comparison to others relative to the pass rate CFAI sets.
Correct me if i’m wrong but last yr saw a 40% pass rate … down on previous yrs. I’m backing the CFAI increasing the pass mark this yr to maintain averages Read as - its going to be easy, dont worry about it
"Correct me if i’m wrong but last yr saw a 40% pass rate " LAst year was a remarkably low pass rate. I think it was the second lowest in the last however many years. there is simply ZERO chance your instructor has any idea what is on the test, or its level of difficulty.
What’s the usual pass rate, 45%?
I actually heard L2 would be a bear this year from the Level 3 instructor in NY (I’m guessing same guy as the L1 and L2 courses, really knows his stuff). He based it on the amount of material moved from previous L1 and L3 into L2. He’s kept a close watch on the content for all three levels (read: he’s more credible than someone saying previous years pass rates have predictive power over future pass rates).
That’s helpful, AbbeFaria. I guess we just have to study hard and do well on the exam. Good luck to everyone!
Yea i’d agree there is a few arguments to make for that. Portfolio is going to have much more material this year and time series was moved from L3 quant to L2 quant. Plus with last year’s low pass rate the competition is tougher this year. (Lots of peeps who barely failed last year are a year ahead of the rest of us). So while I agree it’s probably a sales tactic on an instructor’s part, you can certainly make a good argument that it’s going to be harder to pass this year.
Its going to be the hardest year in the history of the CFA … Definetly - I over heard a man in a pub talking about it. I believe it … its as good as fact Hope that makes everyone feel better and removes the feeling of despair that everyone is dreading if they fail Read as - Its not worth speculating over … time is probably better spent reading the rubbish that the CFA publishes in the hope that you pass and everyone is proud of you for what you have achieved
If I was the instructor, I’d say the same thing. It’s good for their business.
The way I see it, is more material and more difficult material wont make any difference. The bell curve cancells all that out. What scares me, as someone mentioned above, is the increased competition due to a extra 20% more returning students.
The instructor doesn’t know anything and neither do I, but I respectfully disagree with him. Kerry’s point is the best argument supporting the tough exam. There were lots of people last year who were pretty good who failed LII (and LIII) and they’re back with an extra year of study (or at least an extra few months). This might be a problem. I posted on this previously but I think that CFAI is going to set a pretty easy passing mark this year because they need to justify the new requirement that people buy the curriculum from them after years of study provider bashing. They’ve added the fluffy Angoff method that allows them to do it and they’re really into this kind of self-justification. But speculating about this is pointless; it shouldn’t affect your study one way or the other because in any year this is a pretty hard test with lots of material and a competitive cohort. Just study as best you can.
maratikus Wrote: ------------------------------------------------------- > That’s helpful, AbbeFaria. I guess we just have > to study hard and do well on the exam. > > Good luck to everyone! From a guy who slaughtered the LI exam. If you cap him, there is one less person ahead of you.
Pass rate was 2nd lowest in 40 years…I thought it was something around 34%. I was one of the “lucky” ones to be in the other 66%, ha!
I think the harder the exam, the highr the pass rate…