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

sameeragarwal

Hi Meenaxi,
Though I have failed both the times with similar kind of score, I would suggest if you really want to do it, don’t think anything else. Start preparation again, find the loopholes, take your own personal time to decide and once decided just think about the areas where you have to work more.

It will definitely help if you can find dedicated study group. Team work definitely helps.

mp3bu

there are still two levels to go, and level II passing rate is even lower than Level I and there is another 500 pages of more complicated material



Edited 1 time(s). Last edit at Tuesday, August 16, 2011 at 05:21PM by builders.

badonkus

Ok, so I'm not trying to be mean here, but maybe you are just not cut out for this program. L2 and L3 are much harder than L1. Assuming you take two tries each for L2 and L3, that's another five years of studying before you pass all the exams. Do you really need this credential, or would the 1000+ hours that you are thinking of spending on these exams be better spent doing something else?

svgleeson

Like what's your background? Are you a recent grad, or have you been in the industry for longer?

noel

whats your academic and work experience background?

i dont mean to discourage anyone at all, but as others have pointed out, L2 is extremely hard and L3 is very hard as well. If you are struggling mightily at L1, its just something to consider

dreampak

in looking at your results...seems like Accounting kills you? for you to wind up at band 7 with that score report, i'm guessing you did pretty poorly in accounting.

any thoughts to taking some basic accounting college/online courses? if you bring that FRA score up, you will pass...keep in mind the accounting stuff on L2 is harder, so a decent foundation will be key (you'll be happy to hear there is no accounting in L3)

profil

this is my dec.2010 result

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 4

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.

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.