Who fails this exam?

[danv0330]

@MunicipalBob

For every other professional exam that shows pass rates for first time and repeat takers, the repeat takers have lower pass rates, usually much lower.

I think CFA level 3 could be an exception here… remember these people all passed level 2 so clearly every is “capable” of passing level 3.

for other professional exams that are a single exam…like the BAR exam it’s possible many people that take it have no business there in the first place and keep trying and keep failing…

Maybe retakers have “much lower” pass rates at level 1 or even 2 meaning they will “never” pass… but not 3

[Flashback]

Everyone here has his own theory and it’s getting hard to follow all these philosophical ideas.

[MunicipalBob]

@biuku

@MunicipalBob

For every other professional exam that shows pass rates for first time and repeat takers, the repeat takers have lower pass rates, usually much lower.

Did not know that. Wonder how well that predicts L3. Can you say that those professional exams have something like L2 preceding them, where a lot of serious people are weeded out? I’ve assumed the L3 exam isn’t a “weeding out” exam. I.e., if you have passed L2, you’re basically going to pass L3, provided you a) invest the hours to go deep on just about everything in L3; b) get a lot of experience writing AM papers under exam conditions. My position now is: I tried to do that, and if I fail, I’ll just have to do more of that.

Would love to know whether I’m wrong, and whether L3 truly does weed out people who have the skill to pass L2, but lack some special sauce needed for L3. I didn’t detect anything like that – other than one’s comfort in some nuances of English (which is outside of the curriculum).

David Heatherington at Schweser spends a lot of time talking about how level 3 AM is different, and that even the PM questions are more conceptual and less prone to memorization at level 3. I think Level 3 is real trouble for memorizers, people unwilling to practice the AM format, people who think they should be able to use formulas rather than understanding concepts, people with poor time management skills, those who are easily flustered/have test anxiety. Various versions of inefficient study, procrastination, sleep deprivation, trying to do the minimum to barely pass, and cramming right before the exam are also trouble.

[Flashback]

I couldn’t sleep a night before exam because mosquitos entered into my room and I can’t sleep with mosquitos. Do you think this could negatively affect my performance?

Next year I build in a mosquito net for sure.

[MunicipalBob]

Yes, anything that keeps you from sleeping could hurt your score. I’ve kept notes on my test performance and it’s consistently worse when I’m tired. This is consistent with the academic research.

If you are lucky, you got more hours of sleep than you thought. Did you feel sleepy during the exam?

[Flashback]

Yes and I was feeling sleepy since August 2016 and level 2 exam till now. I have pills.

[lord_of_pensions_and]

Simon UR a but plug