You’ll be able to take it again when you pay $100 and do the CFAI mock exams next May.
Lisa Marie Wrote: ------------------------------------------------------- > > > I’ve been debating back and forth on this as well. > I also took this exam for the second time. I felt > my understanding of the material way exceeded that > of my first attempt. My practice exam scores > were, on average, 10% + higher than last year. I > broke 70 on Schweser, which is something I had > never done before. Then I broke 80 on a CFAI > sample, something I had never done before. I put > in the time, the sacrifice and fought for it until > the end. I’ve never quit a single thing in my > entire life, even when the odds were against me. > I’ve also never experienced working so hard for > something just to fail in the end. Maybe I’m > spoiled, as I’ve always been blessed in this > regard. > > There is a scene in Erin Brokovich (the movie), > where her boss tells her not to take something so > personal and she finally breaks down and starts > talking about all the hours she spent working on > her case and how it represented “time away from my > kids…and if that’s not personal, I don’t know > what is…” It’s funny, but I think about this > line every time I sit for a CFA exam. I may not > have children or a husband, but my time is > valuable and I honestly dont know what is going to > happen tomorrow. If I get knocked over by a bus, > my final thoughts would not be “gee, I wish I > would have passed the CFA exam.” They would > probably be more along the lines of “I wish I > would not have wasted so much time worrying about > the little things in life, like the CFA exam.” > > Based on this, I think I know exactly what I’ll do > if I’m faced with another “fail” screen in August. Wow…I totally agree. You took the words outta my mouth…our situations are more alike than you’d believe!!! I feel exactly the same Lisa. Glad to know I’m not the only one 
You two must be chicks 
they are
group hug! I will re-take this even if I have to do it 10 times over. I don’t like quiting on anything no matter how many times I fail - persistance pays off (or else we wouldnt have any car salesmen lol)
Well If I pass then thats the end for me…no need to go for L3 If I don’t pass then i might take it in 2010…
I have to be very close but I will try again if i fail. . . this year was my second attempt.
If I get into MBA and I fail L2, then I am done with this crap.
This is an interesting question for me as well. I just wrote for the first time. I feel as bad about it as level 1, although I ended up passing level 1 that first time much to my genuine surprise. I pray perhaps I may be surprised again. However, the question “Why am I doing this?” is very pertinent for me. I do not work in finance (well, my job has a wee bit of finance in it) and have actually come up through the ranks originally as an engineer. The CFA started out as just a way to continue on from an MBA in a subject area that I had become very interested in. Having a family and the kind of job I do, I can’t really justify it, as I may not ever work in a field such as portfolio management or equity analysis (and thus would not even become a CFA charterholder, even though all the exams were passed…). However, I do want to see my way through all three exams and if I don’t make it this time, I will try again. Echoing some of the previous comments, I believe that a lot of progress was made in this round of studying and the next time, I can focus more on just doing tons more practice questions and zeroing-in on my weakest areas. Personally I feel it a bit of a shame to have done this much work and then just let it go. Having said that, I can certainly understand why someone would decide that other things were more important and just move on.
> give it 2 months and you won’t retain a single thing from the > material. I gaurantee it. Darkhelmet - I disagree. Whhile you might not IMMEDIATELY remember things, they’re in the memory box somewhere. My guess is that that it’ll gome back sooner than you think – or at least, it’ll take less time to grasp it the second time around. As for the time already spent studying for the exam - it’s a sunk cost. We don’t get it back whether we take L2 again or not. So, since it’s not a MARGINAL cost, it’s irrelevent. What IS important is whether giving it another try is worth the effort. Particularly since the material should be easier to grasp this time around. As for me, if I fail, I’ll give it another go-round. First off, I’m stubborn. Second, I enjoy about 80% of the material. And Finally, if I missed it this time, it wasn’t by much, so another go-round should do it. But time will tell. We don’t have to decide now. Good thing - emotions are high (and enthusiasm is low). Let’s see what happens when results come out. In the meantime, I plan on spending a lot of time this summer cycling to work off the 15 pounds of suet around my waist. If nothing else, it’ll get help me work the frustration off (amazing how beating the crap out of your body does that).
Lisa Marie, Extremely well said! (and I’m not a chick as some sad acne ravaged teenager just wrote above…). I do have a wife and two beautiful daughters. Can’t afford to spend much more time on this thing. If anything bad would happen to me or my family, I would surely regret the time NOT spent with them! At the end it is not about winning or loosing, but giving it an honnest try and although the journey might not have led us exaxtly to the point desired, it was non the less interresting and enriching!
If I don’t pass I’ll probably give it up and just start MBA this year, seems like it’ll be more usefull for me - although I’m sure this isn’t always the case.
Anyone else in my boat? Passed Level 1 in 2003 (way back when AIMR ran the show) Failed Level 2 in 2004 (back when you had to write in L2 as well) Took L2 this year (obviously) If I fail, I am confident that I can get back into it and pass next year, but, ah the rub, is that you need to get it all done in 7 years. Sooo, if I fail this year and retake and pass next year than that means I have one and only one shot to get passed L3 or else it is all over. How’s that for some pressure. Needless to say I would rather much have a mulligan to spend on L3.
I’llmontecarloyoursimulation Wrote: ------------------------------------------------------- > Anyone else in my boat? > > Passed Level 1 in 2003 (way back when AIMR ran the > show) > Failed Level 2 in 2004 (back when you had to write > in L2 as well) > Took L2 this year (obviously) > > If I fail, I am confident that I can get back into > it and pass next year, but, ah the rub, is that > you need to get it all done in 7 years. Sooo, if > I fail this year and retake and pass next year > than that means I have one and only one shot to > get passed L3 or else it is all over. How’s that > for some pressure. > > Needless to say I would rather much have a > mulligan to spend on L3. There is no time limit for you: from CFAI website - Do I have to take the exams in three years? No. You do not have to complete the CFA Program within a specified time frame, and there is no limit to the number of times you can take an exam. You do not need to repeat an exam level that you already have passed, regardless of the time that elapses between exams.
Budfox, thanks! Well, it just shows you how long I have been out of the game. Back when it was AIMR it was 7 years and out. Oh, and not to sound like your dad or anything, but stop going for the easy buck and start producing something with your life. Create, instead of living off the buying and selling of others.
I’llmontecarloyoursimulation Wrote: ------------------------------------------------------- > Budfox, thanks! > > Well, it just shows you how long I have been out > of the game. Back when it was AIMR it was 7 years > and out. > > Oh, and not to sound like your dad or anything, > but stop going for the easy buck and start > producing something with your life. Create, > instead of living off the buying and selling of > others. nice with the quote. yeah, I took level 1 once back then and remember that was the deal.
mumu & crablegs, thanks for the kind words I feel that all three of us deserve to pass!