iteracom

I think what it’s coming down to is what do you mean by “good at math” particularly since you did say you are “good with numbers.”
For a lot of people, being good at math means that you can do calculus easily, have an understanding of linear algebra, differential equations, and stuff like that.  The CFA definitely does not require that level of mathematics.
If by “good with numbers,” you mean it’s not too hard (or even easy) to do the kind of algebra that you typically master before starting calculus, then you should be fine.  There’s a fair amount of “what happens to this ratio if that number increases/decreases” types of questions, but if you understand what the ratios mean or indicate, it’s usually not that hard.  Probability and statistics may take a little extra work, but to serious statisticians, the CFA stuff is really just baby steps and shouldn’t be too hard to learn with a few drills.

dvilayphet

Fair enough.
For L2 and L3, the questions get more tricky so memorising the formula isn’t good enough. You need to understand what the formula is doing so you can apply it properly to the specific set of circumstances you are given.
You’re right, it’s not always plug and chug.  However, you don’t need to know how to derive the formulas in order to understand how they work (eg, that a plus sign indicates that two things are positively related).
I interpreted this person’s situation to be that they are good with numbers (ie, capable of abstract though) but don’t know all the ‘procedures’ that one needs to know in order to, for example, solve differential equations.

AndyNZ

@ardeshir said “ Does any one think that a good knowledge of Maths is essential to complete the CFA examinations? Or will I be fine without it?”
If you are embarking on CFA good knowledge of maths may be ( ‘may be’, not ‘is’) an asset ( ‘may be’, not ‘is’ , otherwise all those who are good in maths would have  been successful in CFA) but by no means “good knowledge of Maths” which include calculus, advanced algebra and trigono0metry etc, is not at all ‘essential’ for completing CFA. With reasonable intelligence (which in any case is a minimum expectation to clear all levels of CFA) and commitment you may learn the additional maths and stats that you would need to complete the curriculum. In worse case you have to provide a few hours extra  (not more than 25-30 hours) to be at par with those who are good in maths and are doing CFA with you. If you are good numerically, your working as credit risk analyst has made you understand the basic principles of finance/risk management  and are prepared to update your maths knowledge as and when you need – go ahead and enroll. But be advised - it may not be a cake-walk!
By the way, have you seen the details of FRM as it may be highly relevant to your work /field.

kkn006

Where there’s a will, there’s a way … that’s the way I view it.

eoin

If you can add / subtract / multiply / divide
and have half a brain.
you can handle the math on the CFA exams.

WarrenB1

Basic algebra is all that is required. Accounting and equity analysis make up a huge part of curriculum. Not much math involved here.

yodacaia

knowledge of maths actually is not vip, but if you studied it in the past, it adds to understanding and speeds up coverage of relevant study sessions
though remembering/understanding how to differentiate is one thing that gives huge advantage in understanding option greeks in level II, otherwise you will have too learn the relationships.
and probability theory/statistics was extremely useful in level I quant staff. Again because otherwise it involves painful memorising.
Level II quant is more of econometrics stuff, which i studied before but didn’t remember a thing. But in the end it is again about memorising all those tests like DW.
If you take a big picture glance, quant in level II is only 5% and the time you sill spend on it is not nearly commensurate with the contribution to your overall score on the day of the exam.