Level 2 is bad. Level 3 is worse, because it demands synthesis and evaluation of the concepts–not just a comprehension of them. I went through the L3 curriculum three times, and every time, I picked up on stuff that I hadn’t seen before, and understood things that I didn’t understand before–not because I had seen them three times, but because the curriculum “feeds into” each other in almost all aspects.
I know it sucks to get the “I sincerely regret to inform you” letter, but I think you’re doing yourself no favors by keeping on keeping on.
After 7 years you could have multiple PhDs in math and running a quant fund lol…its just a test, success in the biz starts more with who you know vs what test you have so just network more…that’s insane but good luck with whatever you choose
I read somewhere along this thread that you said you only did one mock. You need WAY more than that. Avoid Schweser’s QBank unless absolutely necessary. Going through vignette after vignette will help you figure out the “tricks.” It will also help you track how long you have to answer each question; L2 is, as previously stated, all about time management.
Second - To piggy back off of the previous paragraph, you said that you know the material/formulas by heart, but just can’t translate it to the vignettes. If you cannot read through the vignettes properly to figure out the correct calculations, but know the material by heart, then this is a reading comprehension issue, just like a previous poster indicated. You had said something to the effect that you are not that confident in your English abilities. So I suggest to learn English better. Take a class, travel (obviously make it a family trip) to a predominantly English speaking area, or otherwise immerse yourself in the language (with native English speakers, not English as a second language speakers).
Those two things I think will help immensely. I feel strongly that understanding English well is almost as important as understading the material well. Obviously you need to change your method of studying if you do continue. After all, the definition of insanity is doing the same thing over and over and over again and expecting different results. You provided your fail band levels before. What did you do the time you had your best result? Probably incorporate some of that into your studies (if you continue).
Lastly, like other people have posted, you need to stay positive. A very wise person once said “Whether you think you can, or you think you can’t - you’re right.” (Henry Ford) I am a very strong believer in the power of positive thinking. If for no other reason that it reduces tension on exam day. No nerves, no stress… It allows you to think clearly.
2013 was my sixth try and I asked if it worth going the 7th turn, since I feel this year I fail with probability 0.9689.
2014 could be the 7th, but I think I have to quit. Some of the posts above were very interesting and serious contribution. From one hand I understand what was wrong with my preparation, on the other hand I understand the 7th try is really ridicules.
dude it should be personal the first and fifth time. his preparation for this exam was questionable. i just think even if he passes, seeing how L3 is even more conceptual and less plug & chug, he may find himself taking just as long for L3. that opportunity cost has to be worth something…
no i am not mr. jobs. This exam took a lot of my life last year and I couldn’t imagine writing it that many more times. I think it might be time to live again for the OP.
Doubtful. If a person doesn’t have the brains/study habits to do L2 of CFA, he probably doesn’t have the brains/study habits to get a math PhD or run a quant fund.
I didnt read the whole thread, but what i realized is that you didnot take the exam damn seriously… in case u decide to continue, i recommend u to use CFA books only, what is good about CFA program is that u r NEVER asked anything beyond what the books give… i cleared level two in my second attempt, and in my first attempt i chose to do half of the curriculum with Sh…, which failed me, i believe… But I still hope that u’ll get through this time around!
Well, one who is 25 y.o. perhaps have better brain and study habits than one 35 y.o.
One who lives alone have much beter chances on the program then one who have to feed his/her family.
And one who works in the indystry has much more chances then one who is in the back-office forever.
Anyway, I failed. Band 4. I quit.
I failed CFA Program and I failed my career. I want to leave this post for re-takers to come: think over and reconsider if you are good for the investment profession. Perhaps you will finish like me, disgraced and tortured after multiple re-takes.
I am dead in the Program, I am leaving my sceleton to bury.