People who do not clear L I have the chance of taking it again in dec and clearing it. Why not have L II and L III at least for those who are repeating ??? Waiting for one full year is really unfair. Please post your views.
ne1 with logical views please
search the previous threads…this has been discussed… decrease supply…create and preserve demand for the charter… they boost their revenues by decreasing the passing rates and forcing people to buy books…and not to mention the membership fees, which is a non-tax deductable charity donation.
sorry about the previous - couldn’t resist.
intheend Wrote: ------------------------------------------------------- > People who do not clear L I have the chance of > taking it again in dec and clearing it. > > Why not have L II and L III at least for those who > are repeating ??? > > Waiting for one full year is really unfair. > > > Please post your views. email cfai and tell them it’s not fair. I am sure they will try to offer the exam 2, maybe 3 times a year if a candidate told them it isn’t fair.
CFAI could boost their revenues by offering level 2 and 3 twice a year. However, I think the amount it would increase would be very little. There would be more charterholders however, if they did this.
^ more charterholders = more $$$ at the rate of $250 a head/ year
I look at it from an industry POV… You would start to get an oversaturation CFAs in the marketplace. By slowing the process, job creation more suitably meets supply of new CFAs. The time between exams makes the process more rigorous, making candidates take it seriously, producing more able CFA members who are dedicated to the craft of finance. The bottom line is that they don’t want to give charters to those who aren’t going to use them. If some kid comes along and passes all the exams in 2 years, but failing 6 times, then gets a job and drudges through the work experience, gets the charter, then decides it isn’t for him-- that doesn’t look good on the charter. Everyone on this forum continues to think that the CFAI is after money; legally, they can’t be as they are a ‘Not-for-Profit’ organization. Think about how many candidates in all levels do not have jobs at this point. If it were a quicker process, the only people you’d be attracting are those who didn’t join before because of how long it took. You’d be attracting more less motivated individuals, who will further saturate the job market, leaving even more candidates without work. I think they should make LI an annual test as well in my opinion as only those who truly want to learn and use this material should be joining and should be willing to go as many years as it takes to get the designation.
I believe starting in 2009 or 2010, CfAI will be offering L2 twice a year. L3 requires hand grading for the “essay” portion, which makes it much more involved and harder to do 2x per year. Stability of the curriculum is also a factor. New questions need to be developed and tested for each exam when they change the curriculum. L1 is more straightforward in that way, and so is easier to administer twice a year.
Just don’t fail, and then you won’t have to worry about waiting 12 months to re-take.
L3 Buckaroo Wrote: ------------------------------------------------------- > Just don’t fail, and then you won’t have to worry > about waiting 12 months to re-take. Perfectly stated. We’ve all noted that the arduousness of getting through the precess is in large part what brings so much value to the designation; and having the 1 per year format adds to the difficulty. I know plenty of ppl who would not have dropped out of the program if they could have turned around and re-tested a couple months later. I’d venture to say its significant part of the reason only 19% of candidates complete the program.