Personal Dilemna 2011, currently, everyone, whether

cyber21

Hi everyone,

I am currently having a hard time to decide whether to take the test this December 2011 or wait till June 2012. I am a 2nd time retaker, I did took the test last June and failed miserably (I had 1 month preparation and I underestimated the test. I learned my lesson). I have less than 3 months to study for December. Can I still do it? Did anyone of you passed level 1 with such time constraint? The deadline for registration is in 2 days. Please help. Also, please give me some thoughts on how should I study with such a limited time. If you were in my situation, how will you decide?

Thank you all for your valuable feedback!!

James T.

LBriscoe

Well you didn't give enough information.

Are you working? Do you have commitments? Do you have a finance or accounting degree? Any work experience?

If you are not working, and have the time to put in 3 months of real preparation, then it is possible yes.

Colum

I am a finance major. I just graduated and currently unemployed.

bodhisattva

Seems to me that you haven't learnt your lesson at all.

If you are a "2nd time retaker" then surely you already have a feel for the material, no matter how loose/brief (if this isn't true then that must mean you showed up on exam day hoping for a miracle)?
What I am saying is you already have the curriculum, you've presumably had at least a scan through to see if it's doable or not. You are better placed than anyone on this forum to decide if you can do it in the time remaining.

I agree with greengrape that it is possible, but I wouldn't recommend it unless you are not working or have prior industry experience (doesn't sound like you do).

Sometimes I wonder about the people posting on this forum. It's almost like they don't trust themselves or their judgement in the slightest even on highly personable things like their own study patterns. I'm willing to bet that we get a brand new "Can you pass Level 1 with 300 hours of study?" thread by the end of the week.

dyga

As a finance undergrad that just finished school, a lot of that stuff you learned should have decent overlap with CFA L1. Since you don't have a job, and can study full time, I say it's definitely possible.

Just remember to apply to jobs as you study for December

LBriscoe

Thanks so much for your responses..

ap0258

Remember its you who have take the ultimate decision. You know your yourself and dynamics well. Level 1 is all about reading and retaining effectively. Check your willingness for risk and ability to take risk. It seems that you've the ability to take risk, as you've experienced the exam, you are a full time student and a recent finance graduate plus you've 3 months to go. Regarding your willingness - you know it well. If you can let go off everything else and scientifically plan your time, manage your energies and able to retain the information then you should go for it but if you require time to make yourself motivated and get on the track or have some negative thoughts about the December exam, in terms of self confidence that you won't be able to do it, then its better to stay and wait for June 2012. More over it also depends upon your decision of pursuing Level 2 after the exam. Never forget one thing, life is all about choices you make them and don't look back. Whatever the decision you take - put in your best to fix it out!

MiniMe7

It's all about making the full, 100% commitment to it. I was in your exact situation when I signed up months ago, but didn't make the FULL commitment necessary. Now I have a job and wish I would have used the time when I was unemployed better, because I'm cramming and still might not pass. Without a job you easily have the time to study, especially cus it will be fresh in your mind from school. But you have to make THIS your job between now and Dec 4th.

bodhisattva

^ Focus on study yes. But if a job opportunity comes up, that's a no brainer -> take the job.

laurab

Yes, sorry. Didn't mean to come off as saying not to take a job, or even not to look. Do those of course, but in the mean time think of yourself as employed. Tell your friends you're not free, tell yourself you're commited. It's too easy to not spend the hours you need today when you start thinking about all the hours you have sitting in front of you.