From Band 5 to pass 2010, understand, important, concepts

Bad5shah

My last Dec 2010 result was band 5 fail but I managed to pass this June.

The reason I made the huge jump cos I totally relied on the CFA texts and mock in Dec 2010 and I did not fully understand major concepts.

So, I enrolled for Kaplan, followed Schweser books and worked all the way. Unforturnately as I have to give up my social life, I gained extra 10 kilos weight.

Most important reason is that I learned to love the material as I go along.

If I can do it, so can you. Don't give up if you haven't put enough effort.

RMontgomery

M a Band 5 this June....Followed Schweser books...just wondering how far a band 5 is from clearing the exams ( in terms of marks or correct answers ).Also this was my second attempt. last time it was band 2...are any more attempt worth it?????or m just not a fit for this exam....are there people who took more than 2 attempts to clear level 1

LPoulin133

rocksolid Wrote:
-------------------------------------------------------
> M a Band 5 this June....Followed Schweser
> books...just wondering how far a band 5 is from
> clearing the exams ( in terms of marks or correct
> answers ).Also this was my second attempt. last
> time it was band 2...are any more attempt worth
> it?????or m just not a fit for this exam....are
> there people who took more than 2 attempts to
> clear level 1


Can you provide your details, education background, work experience, strong and weak areas, etc.

Analti_Calte

Yes if you can gain 10kgs, so can I.

On a serious note well done, Im fully relying on Elan. Hope it works out.

Analyze_This

rocksolid Wrote:
-------------------------------------------------------
> M a Band 5 this June....Followed Schweser
> books...just wondering how far a band 5 is from
> clearing the exams ( in terms of marks or correct
> answers ).Also this was my second attempt. last
> time it was band 2...are any more attempt worth
> it?????or m just not a fit for this exam....are
> there people who took more than 2 attempts to
> clear level 1

I'm sure there are people who have taken it several times and passed.

Now, not to discourage you, but if you really studied your butt off the last two times and these are your results, I don't know if I'd keep trying...

It's not because you couldn't pass Level I next sitting, indeed I believe ANYONE can pass Level I if they put in enough time, but Level II is easily twice if not three times as hard as Level I. And in Level II, it doesn't matter how much time you put in, you still may not pass because of how tricky the exam it.

Think about it - Only 40% of people pass Level II. And these are folks who have already passed Level I.

Just sayin.

dirk01

rocksolid Wrote:
-------------------------------------------------------
> M a Band 5 this June....Followed Schweser
> books...just wondering how far a band 5 is from
> clearing the exams ( in terms of marks or correct
> answers ).Also this was my second attempt. last
> time it was band 2...are any more attempt worth
> it?????or m just not a fit for this exam....are
> there people who took more than 2 attempts to
> clear level 1

The test is about the curve. band 5 doesn't mean anything except you were ranked at the middle of everyone who failed. It's still a ways to go to passing.

bchadwick

I don't know, you need a lot of work still, do you feel like you can really master the material? And if time preparation will continue to be a stumbling block how will you prepare for the tougher levels in the future? I just received band 10 (non-finance background, my weak categories were corp. finance and FRA), but I knew it would be close either way...if I ended up band 2 then band 5 on level 1, I would walk away.

chandsingh

rocksolid Wrote:
-------------------------------------------------------
> Thanks for ur response....Well....I did studied
> but had limitations both the times as I had a
> fulltime job n family to support..so couple of
> hours each day during the weekdays and then the
> weeknds......Moreover I just took a week off
> before the June exams....Mayb lack of practice
> exam or mock exams... is wot did me in....M just
> wondering is it like just cracking another 25-30
> questions in the next exam to clear it and move
> from a band 5 to passing..Mayb i should be good to
> go with some more practice the next time....the
> stories I hear is that people bounce back from a
> band 2 to passing mayb with additional time n
> efforts..also that a few have struggled in level 1
> but have cleared level 2 in one attempt....I just
> dont feel like giving up at the moment as
> somewhere i do know that i haven't put in enough
> efforts both the times....for obvious reasons that
> i have failed in both attempts....Below are my
> june scores.....Any suggestionss.....
>
>
> The three columns on the right are marked with
> asterisks to indicate your performance on each
> topic area.
>
> Topic Max
> Pts <=50% 51%-70% >70%
> - Alternative Investments 8 * -
> -
> - Corporate Finance 20 - *
> -
> - Derivatives 12 -
> * -
> - Economics 24 - *
> -
> - Equity Investments 24 - -
> *
> - Ethical & Professional Standards 36 - -
> *
> - Financial Reporting & Analysis 48 * -
> -
> - Fixed Income Investments 28 - *
> -
> - Portfolio Management 12 * -
> -
> - Quantitative Methods 28 - *
> -
> We have divided the full group of candidates who
> did not pass into 10 approximately equal score
> bands. Your score band below shows how your
> overall score on the exam compares with all other
> failed candidates.
>
> Your score band: 5

Looking at your scorecard, I can assure you that you are not very far away. Few positives from your score: Ethics was one of the hardest section this year and you have more 70% on that, so I assume you are a pretty smart guy. Second, Quants is pretty good too. Third and most important, I guess you are not covering all areas of the exam and probably as you said not enough practice either. Try to attempt as many mocks you can this December.

Guess what? The only reason you failed in this exam is because of FSA. I think you bombed FSA big time. I have seen worse score report than this, but those people still passed.

joehogue

rocksolid, i dont think you should use schweser anymore. I failed in Dec 2010 with:

Q# Topic Max Pts <=50% 51%-70% >70%
- Alternative Investments 8 - - *
- Corporate Finance 20 - * -
- Derivatives 12 - * -
- Economics 24 - - *
- Equity Investments 24 - - *
- Ethical & Professional Standards 36 - - *
- Financial Reporting & Analysis 48 - * -
- Fixed Income Investments 28 - - *
- Portfolio Management 12 - - *
- Quantitative Methods 28 * - -

Band 10

and in June 2011 with:


Q# Topic Max Pts <=50% 51%-70% >70%
- Alternative Investments 8 - - *
- Corporate Finance 20 - * -
- Derivatives 12 * - -
- Economics 24 - * -
- Equity Investments 24 - * -
- Ethical & Professional Standards 36 - - *
- Financial Reporting & Analysis 48 - - *
- Fixed Income Investments 28 - * -
- Portfolio Management 12 - - *
- Quantitative Methods 28 - - *

Band 9

I'm not knocking Schweser, many many people pass with them, but for me I don't think it works. I found their questions overly complicated, long-winded and convoluted. I made a pretty major error of not looking at the change in material between Dec and June which may have cost me (or may not have). I do remember about 4 or 5 questions straight in Corp Finance and saying to myself WTF?! I had never even heard of some of the stuff they were asking. 10 questions over the exam is definitely enough to be a difference maker.

Anyway, the exam really isnt that hard (I say having failed it twice haha). It's more of a brain teaser than an exam. You just have to shove a lot of crap into your head and splurge out formulas in the test room. A lot of people go on to fail level 2 because I dont think they have the basics down (so, every cloud...)

I'm thinking of taking it again. Just because I can't stand that I have to tell people I failed. I think I will try Stalla, heard good things.

What areas are you struggling with?
jestersdead88@yahoo.com

thecfawannabe

Band 7. This is my 4th attempt. I took several years off to do my MBA in Finance. I am thinking of doing this again in December, but I need to know if I should. Can you provide some guidance?


Q# Topic Max Pts <=50% 51%-70% >70%
- Alternative Investments 8 - - *
- Corporate Finance 20 - * -
- Derivatives 12 * - -
- Economics 24 - * -
- Equity Investments 24 - * -
- Ethical & Professional Standards 36 - - *
- Financial Reporting & Analysis 48 * - -
- Fixed Income Investments 28 - * -
- Portfolio Management 12 - - *
- Quantitative Methods 28 - - *