3rd attempt at L1, need some advice advice

Daniel1985

Band 7 this June....Followed Schweser books....This was my second attempt. last time it was band 4 just want to knw any more attempt worth it?????or m just not a fit for this exam....how to move on...I need advice regarding best study methods.
Any advice is greatly appreciated...I am a bit confused on how to go forward from here! whether i should enrol for dec 2011 or nt....plzz help...

Multiple Choice 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 : 7

PieMan

You're welcome. I've some quick summaries for Fixed Income, Economics, & Quantitative Methods. In case you require them let me know at my email id mohammad.belaal@live.com I'll email you those. They are like flow charts and will greatly help you out in achieving your desired score.

MarginofSafety

The exam is all about time and effort. Seems like your not putting in enough work on your weak areas. Pound out the practice questions, mock exams, and repeat until the material sticks.

You really need to sit down and think if the CFA is right for you. What you want to do in life, where you trying to go with the CFA etc.


your third attempt at Lv1 is crazy. The Lv1 exam is like a finance 101. Lv2 is probably 100 times harder, and more complex. With the being said, good luck with whatever path you choose. And if you stick out the CFA put your head down and get to work, NO EXCUSES!

Rasec

Then again, if you can't touch the rim, you're probably not cut out to be an NBA player.

tobeornottobe

Dear Meenakshi,

First of all never use hope. Academically I'm a bright student as did O level then A level then got distinction in graduation and passed Level 1 in the first attempt without finance background. Whereas I've been rejected by 11 companies and I couldn't get job. Consistently I've been unemployed for the last one year and now I've finally got the job and a good one. The point to mention is that never loose hope and put in your best..

Now coming to the point the first thing is to shift your focus from Shweser to Curriculum especially to those areas which are weak and you've secured less than 70 in them. Furthermore the questions in the exam are tricky and one liners. Straight away the lines are asked. For instance in Ethics recommendations procedures can be asked and they are lines which are written in curriculum. Reading the curriculum especially Ethics is necessary to pass through.

Secondly try organizing yourself while you are reading. For instance there are several points which are about IFRS and USGAAP in FRA. Try making a chart where you separate the treatments for IFRS and USGAAP. You can make separate notes, summary notes or you can make these charts on the side of your existing books which you follow. Make sure your reading and organizing is complete by the 1st week of November.

Third the strategy which I used to study was to read in chunks and make 4,5 chunks a day. For me the chunks are of 20 minutes maximum. I couldn't cram, the only thing which I could do was to re-read. The first topic which I started was Fixed Income, then Quants, then FRA, then Corporate Finance, then Portfolio, Equity, Derivatives, Alternates, Ethics and Economics. After completing my reading I repeated all the books in 2 weeks. Since I was organized while giving the second reading I was quick in terms of time. Then I gave mocks and found myself confident. You can use this strategy.

Last but not the least you've to be positive and focused. Don't think of what that has happened but think of December 2011. You can do it! Trust yourself and be scientific in passing the exam. Avoid those people who are negative and try to be optimistic.

I wish you all the best in case you require any assistance; you are most welcome.

Good Luck!

Wendy01

Not to sound like a jackass, but how do people with masters in finance not pass these exams on the first attempt? I don't have a finance background, so I'm wondering what these programs actually teach/prepare you for...?

morebeans

dont give up! here is my story:
june 08 band 4 (wedding the next day, so didnt really have time to study)
dec 08 band 7 (signed up late, studied hard but didnt have enough time for review at the end)
june 11 passed with only 2 topics 50-70%, the rest >70%

review time is crucial!!!

BelalM

what are you currently doing? really depends on your career trajectory....

AndyNZ

I would reconsider it unless u think being a lvl 1 passer is good enough. You have to really look at yourself and see whether u have the motivation to go all the way thru.

People say go gun accounting, ethics and equities. But with cfa u hav to know everything to pass comfortably. Looking at ur marks u haven't hit >70 except on 3 occasions (and Eco gets weighted 10% then 0% for lvls 2&3).

But if u think passing lvl 1 will get ur foot in the industry then that might force u to go one more time. Just remember that cfa on it's own without experience is limiting.

former

You need to bring both FRA & Equity scores up and you'll pass. You have to be consistent with both these sections.

FRA can be quite complex because there are just so many variables (IFRS vs GAAP for Pensions, currency translation...etc), but Equity is pretty straight forward. Do a whole freakin' lots of questions so you can master them.

And freaking read the CFAI text if you haven't tried that route. It's obvious your current study plan is not working. Schweser Q bank will help greatly though..., cuz it's good to do as many questions as you can.

You will definitely need to master these two sections to pass Level II. No two ways about it.

Because it might take you four trials to pass Level I doesn't mean you can't pass Level II the first time you take it. It has been done many times over!



Edited 1 time(s). Last edit at Wednesday, August 17, 2011 at 12:27AM by Damil4real.