L3 repeaters who were shocked that they failed last year better, failed, feeling, injury, passing

Zesty

I took the L3 last year and walked out of the exam feeling confident that I would pass. I was shocked to see that I didn't (and a band 7 to add insult to injury). For those repeating the Level 3 this year, were there any of you who felt that way last year? If so, what are you doing differently this time that makes you feel better about passing this year (if any)?

Would appreciate some insight. Thanks.

bpdulog

Shrute Farms Wrote:
-------------------------------------------------------
> mwvt9 Wrote:
> --------------------------------------------------
> -----
> > Vegas Wrote:
> >
> --------------------------------------------------
>
> > -----
> > >
> > > For me it took some time to digest the fact.
> > Luck
> > > is a factor on the exam day.
> >
> > This is very true. Do all you can to limit it
> > but in the end it is still there.
>
>
> Except mwvt9 took out his writing utensil and
> murdered the 2009 exam. That poor exam had no
> idea what hit it.
>
> MWVT9 = Curve Setter


He's correct, luck does play a factor - the difference is for most of us that the luck decides pass fail, whereas for MWVT9 it determines whether he gets a 99% or a 100%.

ohai

you guys are pretty amazing at the time you put in. i have probably put in about 140 hrs so far. with a strong push these next 2 weeks, i'll get close to 200 but not quite there. we'll see if that's enough to eek out a pass. i hope everyone repeating passes. keep pushing people. we're close.

Darien

mwvt9 Wrote:
-------------------------------------------------------
> Vegas Wrote:
> --------------------------------------------------
> -----
> >
> > For me it took some time to digest the fact.
> Luck
> > is a factor on the exam day.
>
> This is very true. Do all you can to limit it
> but in the end it is still there.


Except mwvt9 took out his writing utensil and murdered the 2009 exam. That poor exam had no idea what hit it.

MWVT9 = Curve Setter

__________________________
Beet Farmer, CFA

former

Thanks a lot everyone.... I focused heavily on the CFAI materials and past exams this year and am using Shweser only for the practice exams and QBank. It will be interesting (and a very good outcome) if the strategy works. Good luck to you all...

infinitybenzo

...but who the hell knows.

Truer words have never been spoken.

Analti_Calte

Band 10 last year. Individual PM and Fixed Income downfall. This year spent much more time on CFAI readings. Focused almost entirely on Schweser last year. Have spent more time this year than last year...I would say about 200 hours at this point. Will spend another 80-100 over the next two weeks. Read every word of CFA text, took notes and just finished reviewing all the highlighted items in the text. Attended the Dallas week Schweser review...very helpful to get the big picture. Remember, Level III is about developing Capital Market Expectations, Developing the IPS, allocating assets in Equity and Debt Investments, utilizing Derivatives and Alternative Investments to adjust risk/return and then using the various Portfolio Monitoring/Measurement techniques.

Think I will have done enough work to pass...but who the hell knows.

Unforseen

ndzhai, I think time spent amount of time this year (well over 400 hours) as last year, but allocated differently. The last month was the most important though, because that is when it all came together.

This year, more time on specifics of the LOS than the broad topic outlines I favored last year. More time left for practice exams this year, too. I think I took 3 or 4 last year from various providers, and this year I'm taking 9, 8 of which are CFAI issued (my office has collected CFA resources over the years).

Especially as we get closer to exam day, I am paying more attention to the wording of the guideline answers CFAI provides so I associate key words with certain topics. For example I took the 2006 test today and noticed that on the pension question CFAI kept using the phrase "duration of liabilities" where I referred to "time horizon". If I can take a little of the subjectivity out of the written portion I am hopeful I can get a point or 2 more that will ensure I pass.

aidebaobao

this topic is so dreadful...

Can any of you tell how many hours you have put in last year vs this year then?

mcmc

I wonder now that CFAI publishes the bands if they track how people do over time and if they see people leaving the program if they are under a certain band.