Remember, you are that same champ who dealt a ruthless blow to the level 1 exam, you can beat this beast too! One of the cruelest things CFA Institute has ever done is to start letting the candidates know how close they came. A sense of hope brings in the cash.
I would be curious to know how many people, once failing, and not aware how close they were to passing, would sign up again.
I would heavily focus on blue box and EOC questions, know them cold, and make sure you are doing them because you know how. Not because you have done them so many times, you memorized how to calc them. There are so many tiny things that will make or break! I have spent over hours in the past 4 years for sure but I can never say I will be able to answer all questions on the exam.
The actual exam is very different from everything they released such as the mock or sample exams. If this is at least 2nd time you take it then you will know what i mean.
Being through this torture makes me feel that the cfa is like an online game that sucks you in and sabotage your life, the majority of what you learn will never be applied in your job in real life.
No I disagree. You can download the request form and ask questions about CFA exam results at info cfainstitute. This is a very rough estimate, to say the least.
Neither the CFAI nor any other party has confirmed this formula. You may consider registering for Level 2 as early as the day after your receive the results email.
Thanks to the new scheduling system, you no longer have to decide between waiting either four months or 16 months before you can proceed. I bet most candidates fail at least once along the way. John included he failed Level 3 once. Before considering a retake, you really need to focus on the reason for this result. If you lacked the time needed to properly prepare for the exam, then a lesson has been learned. If you studied in excess of the hours, this is a little more worrying.
First, you need to question your study technique. In particular, studying the technical material with insufficient question practice can cause failure, no matter how many hours you dedicate to preparation. We find that the majority of students can cope with the technical nature of the curriculum, but those who struggle with applying quantitative material may require more than the hours. Remember, hours is just a guideline and an average. Speaking to thousands of candidates, we do know that a large number will take far more than this to prepare.
The majority of candidates falling in these deciles will have both technical weaknesses and poor exam technique. Technical deficiencies can be improved by studying the CFA Institute texts and prep provider materials. Taking mock exams and attending review courses can improve exam technique.
The next step is to identify your strong and weak areas. When designing your retake plan, we suggest starting with the areas in which you clearly underperformed. Be very careful that you do not ignore your stronger areas entirely; otherwise, you may find that you have just substituted weak areas for previously strong areas. These areas are where you should begin studying. As we correctly flagged shortly after the December exam took place, the most recent paper seems to have been pretty easy.
If you passed, this is all fine. If you failed, knowing that the December pass rate was at its highest for more than a decade isn't going to feel great. Nor is the CFA's notoriously opaque mark scheme necessarily going to inform you how close you were to making the grade.
So why did they pass when you didn't? This is what he said. Topic weights by level are published on the CFA Institute website. Curriculum and exam coverage reflect these published weights. Not exactly. As noted above, the topic areas are weighted; more exam questions and points are allocated to the higher-weighted topics.
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