Now that I've written the CFA exam, I'm awaiting the results (which apparently take as much as 60 days to release for the level I exam). Under the assumption that I've passed, I had a peek at the Level II material shown on the website based on the learning outcome statements (LOS) outline as well as the sample questions and mock exam sample provided on the website.
Suddenly, the level I looks easy, as the level II concepts are quite involved, including even such topics as multi-variate regression analysis (reminds me of Math 3K03 and Comp Eng 3SK4 in university which were both pretty challenging).
I now have to make the decision as to whether I will register to be a Level II candidate in June. I would really like to progress on, but don't want to over load myself during my MBA. Knowing me, though, I'll probably end up signing up almost immediately after I get my results.
Optimizing After-Tax Returns on Options
1 year ago
50 comments:
So, how did you find the Level 1 Exam on Sat? How did others find it? I wasn't able to talk to anyone to see how they felt about it
I feel pretty confident about it, although I've had many people tell me they thought it was quite difficult. I'd expect the pass rates probably be about the same as last Dec and June.
You think pass rates will be the same? Lots of people I'm starting to hear from are saying they thought it was much easier than expected, my fear is you'll need a 90% or soemthing to pass !!!
While it's true it might have seemed easier (they only had three answer choices instead of four), I've been told that they simply removed the "obvious wrong answer choice" and that the exam wasn't TOO much harder.
Having said that, maybe the pass rates will go up a little?
Okay the feeling I'm getting is that its was mixed hey, I guess half the people I got to chat with found it easy, the other half hard. So lets say 50% will pass this time, not the dismal 36% or whatever, Lets all blog next year in June for Level 2, SPEAKING WAY TOO SOON, And Josh, Go for the Level 2
I agree Watson, I hope they boost the past rates to something decent like 50% instead of the miserable 30s.
Also, I hope to continue blogging and would love to read other blogs also... But you gotta make your profile public or at least put up your link so we can follow you! ;)
As long as you got over a 70%, you'll pass. In my CFA prep course, the instructors said repeatedly that "no one who has gotten a 70% or better has ever failed the exam." They would probably know, becuase one of them is heavily involved with the Institute. Honestly, I kind of hope that the passage rate stays low. That will show that people who pass really deserve to be charter holders.
The wait is over and so would be the speculation about MPS (Minimum Passing Score) for this year. Today July 28th is a big day, the day when the results are out !
All the best to you Wong. Please GOD. I hope i am through :-)
http://jpmak.blogspot.com
I am so worried
Sure enough the wait is to much on the edge waiting to shout yaa or noo
All d best to everyone!!!
ha ha ha just a couple of hours more!!!
@psit Good point. I guess we'll find out today!
@Makarand I hear that! I think we all feel the same way!
@Quinter I expect my office colleagues will probably be startled at the out burst of emotion, one way or the other ;)
@Everyone else: Best of luck!
I passed! Pass rate was 46%.
failed!
Placed on band 5 - amongst failed candidates.
Hello Dec.2009!!
Congratulations, Joshua. I failed. 5th band just like the Anonymous right before me. Not surprisingly to me, Financial Reporting & Analysis was one of the killers. Gettting 51-70 in Ethics probably didn't help me much.
It's a tough exam. Like I mentioned in my most recent post: http://amgstr.blogspot.com/2009/07/passed-level-i.html
I failed in Dec 2008. Also, in my networking EVERYONE (100%) of CFA candidates / charter holders that I met had failed one level or another (usually level I and II) during their attempt (so I didn't feel AS bad failing in Dec 2008).
Try again and best of luck! Read my CFA posts or check out a prep course (I used Passmax in Toronto: www.passmax.org).
I crushed it. The exam was all bloody and crying in a corner after I finished with it. I am going to do horrific things to level II. Muhahah.
Passed! all above 70% it was an easy exam!
Failed ! I got Band 10. I missed by a very small margin i guess. Derivatives, Economics, FSA, Quants, Portfolio Mgmt all above 70% but Ethics 50-70%.
Hi guys....
I had... FI,EQUITY,FRA,DERV,ECO,QUANT above 70%....
had Ethics,Corp Fin,Portfolio inbetween.....
n alternate below 50%.....
n I failed with a 10 band....
Do u thnk I shud apply for a retabultaion?
enuf_ ,
i think u should..
to be honest, i'm always glad to be part of this challenge, but this opacity in exam results is somehow strange... don't you think ?
I've heard this several times...you have to kick ass in the ethics section or else...
I kicked butt in that section so now my level II books are sitting on my shelve...waiting to take over my life next year.
I called CFAI n they told me tht they havnt ceen a retab resultin in a pass....
Has anybdy come across a situation in which a retab results in a pass?
ur right abt ethics thng......
but still i havnt ceen a better result then mine n failing.....
my ethics score is in 50-70 range which means i shud hav a minimum of 19 outta 36....wich seems to b ok cas i have lotta above 70 subj....
Moreover I am reali gud in accounting/finance cas i hav dun bsc(fiannce/accouting) n now im doin my msc in finance.I was like 100% sure I wud clear level 1.I cant believe I failed.I mean i have 6 huge subj above 70 (69% of total).... I just cant beieve I failed....
I also heard tht they dun change it to pass after retab....
I failed the level exam the first time so don't feel too bad if you didn't pass. What I found to be the most helpful the second time around was core-models(www.core-models.com)study tools along with the schweser notes. Hope this helps and good luck to you all!
do u people think, schweser notes are enough to pass the exam..
I think it really depends on your learning style. Some people can pass with just the bare curriculum. Others need more prep help (like myself). I think it entirely depends on your learning style.
Dude...your blog has followers...
you should start a cult.
Just out of curiosity, how did everyone on here do in the Level 1 CFAI Mock Exams before writing? The floating pass score is pretty daunting...?
I have to write next weekend...
So for all you December 2009 guys and gals, was anyone able to get the results? I only got to see that the pass rate was a whopping 34%.
Agony.
//Andrey
I managed to see the results, but with great difficulty. The site was not responding for more than an hour.
Worse pass rate of 34% for Dec 2009 exam. This only happened twice before since inception.
I hate it.
I failed Level 1 in June and again in December. Now I want to quit this course as I dont have the required courage left to pursue this course further. I still want to know that pursuing this after failing so many times is really of any worth. Both time I was in Band 10. Sorry I will remain anonymous as I started hating myself.
Got my results but failed with band 9. Its realy dificult. If CA can fail this exams then hey judge for yourself
passed Level 1 :
scored 70+ in 4 sections and 50-70 in 4 sections and < 50 in alternate investment.
well, i am with the 66%... 8th band :-/
geez, a 12% drop, that's harsh.
Didn't think that I would pass. But I did. 70%+ in 4 sections, 50%+ in 3 sections and 50%- in 3 sections. Did bad in derivatives, alternative investments (as expected... didn't have time) and portfolio (unexpected). Also for quantitative I though that I would score 70%+, but it was 50%+.
Tips:
1. Take paper based mock exams.
2. Take some exams in noisy places (like restaurants) for concentration practice.
3. Complete at least 3 times before exam. For example:
3 months -- initial study
next 1 month --- whole syllabus
next 15 days --- whole syllabus
next 7 days --- whole syllabus
Good luck!!
Hi Folks,
I got 63.5% on the CFA December 2009 practice exam and passed the actual exam by a wide margin. (>70% in all categories)
For my Schweser tests, my marks were anywhere from 62.5% to 79.5%.
I read somewhere that no one who ever got higher than 70% on the actual exam failed. I suspect that if you can nail over 70% on the practice exams then you have an excellent chance of passing.
Regardless of what people say, I have to admit: This is not an easy test. I studied every day 10 hours for an entire two months. Moreoever, I took a certicate in Financial Analysis at the University of Toronto (one semester program). I did not have prior experience.
Also- I have some information for those of you who passed Level I CFA but could not find out how to enroll for Level II. The reason the web site does not allow you to register is that you do not have a Bachelor Degree. If your college and work experience add up to four years, send an e-mail to the staff at the CFA institute explaining your situation. That is what I did, and they allowed me to register for Level 2.
For those of you who failed CFA Level 1, I can only say that you should try again. Do not feel bad or discouraged. The average CFA charterholder has failed at least one CFA test.
My piece of advice: Study the CFA becaues you love the material. Don't study to pass the exam. I say again: Do not study to pass the exam. Do not start asking yourself what questions will be asked. Do not waste your time asking yourself how you will be tested. Spend your time learning and understanding the material. It should be an enjoyable experience when you actually learn the material and write the exam.
time check
June 2010 exam results are out. Pass rate is 42%. That's up from 34% in Dec. '09 and down from 46% in June '09
Hurray, really really glad that I passed my CFA level 1, June 2010 exam. I over heard a few candidates talking and I am kinda confused about how to interpret the score matrix. Just out of curiousity, does a score of >70 mean that I answered correctly more than 70 percent of the questions, or does it mean that I relatively did better than 70 percent of the candidates in that topic area? hmm, probably a silly question...
I think your this journey is very memorable to you that is why you have mentioned here.that is some inspirational stuff. Never knew that opinions could be this varied. Thanks for all the enthusiasm to offer such helpful information here.well place to make journey memorable.
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failed June 2011, band 8. Age 47.. Is it good idea to try again??
Beautiful results! I found your blog very interesting and very informative. Thanks for putting this on here :-)
CFA level 1 exam is all about doing a lot of questions.
Getting exam results is much dangerous than giving them. Material and study books with best concepts are given to all students at TestMax LSAT Prep Courses providing online tutorials. Mock tests and doubt sessions conducted every week are also useful. Will continue with the training till the date of my exam.
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