Mod note: Now that you've gotten your results, how did you do?
Results come out Tuesday Morning. Who's ready for this?
Passing level 2 would be such an awesome feeling that I can't even put it into words. 4-5 months of torture and it all comes down to this. I REALLY don't want to take this exam again but I probably will if I fail (I'm not quitting after sinking so much time into this).
Definitely failed - oh well. There's always next year.
Not feeling well about it. An L2 fail will undoubtedly suck, but I’m ready to get back on the horse and take the miserable thing next year.
I am dreading, however, breaking the news to the group of friends and family members who made asinine comments such as, “Dude – you’re going to pass; you’re worrying about it too much.”
Fuckers . . .
This. Hate those comments.
Pretty solid since I am taking Level 1 in December. Good luck to everyone!
I still have another two weeks waiting for L3 results...Seeing the L2 "Pass" was defintely a great feeling.
Good luck
Yes, telling my family that I failed will be terrible. Especially since they think that I'm always being overly modest about my chances of passing the damn thing. They see me studying like a mad man and think to themselves "there's no way he fails this thing", little do they know how much of a beast this mofo is.
I'm pretty sure it will be a nailbitter for me. I wasn't too confident after the test but also didn't think I bombed it either.
Failed. Definitely failed.
Don't worry, it is just a useless title made up by some organization to squeeze money from highly-motivated kids.
I may be alone in this but I'm not nervous in the least and not out of over confidence. I'm sure I'll be anxious when I see the e-mail come in tomorrow but the last few weeks I've barely thought about it. The way I see it I put in the time, I controlled the things I could, studied hard, and now it's out of my hands. I did plenty of stressing the 5-7 months of studying before hand, I plan on enjoying this time off before I have to start in again, no matter for what level.
God knows I will be doing backflips if I pass though lol.
I've got a nice bottle of Pappy in my desk for the moment (after) that email shows up. Pretty confident but who knows at this point.
I don't think I'm going to sleep tonight. I'll be up waiting for the results to come out (~6AM PST hopefully). Too anxious.
Good luck everyone. Make sure to have your victory song all queued up, that's crucial.
Also don't tell anyone at work that results are coming out. They'll keep blathering like inebriated buffoons, "Oh I'm sure you passed", after which you will have to fight very hard to resist the urge to sock them squarely in the mouth.
not very nervous, but we never know what can happen...
good luck everybody! though we never know as correctly mentioned above, let's hope for the best.
Not nervous at all since I know I failed with a 90% probability. However, when te email hits my inbox... that will be a different story...
Bricking it tbh.
Pass or fail, I'm taking a half day and getting drunk. It seems like the most appropriate thing to do no matter the outcome.
Past 9:00 AM... GL all.
Any updates from the WSO test takers?
Still waiting...
Pass Rates
June 2013 Exam Pass Rates
Level 1 - 38%
Level 2 - 43%
Still waiting for results.
Good luck all.
Pass. Great relief.
All those Bostonian Monkeys - Celebration at the WSO meet up this Thursday
Anyone seen any results yet? I've been staring at my inbox like an idiot for the past 40 minutes.
PASSED lvl 1 YEAH BOY
10 AM and no response - insta-fail. Time to drink !
Still waiting here too.
Woohoo! Passed level 2 ! :)
Failed :(
Failed
Woo! Passed Level 1!!! Time to celebrate!
Failed lvl 2. Fuck me.
What size rod do you want ?
Passed lvl 1! GL to everyone.
Failed as predicted. Got to take it more seriously for dec.
Level 2 band 9 fail, time to get drunk.
50%: Alt Investments, Derivatives, Port Management 50%-70%: Quant Methods >70%: Corp Fin, Econ, Equity, Ethics, FRA, and Fixed Income
passed Level 1 after failing last time [and the relief washes over me in an awesome wave].
Look on the bright side, you just gotta study a little bit harder next year and you'll pass. I failed with a real shitty band. That's what I get for thinking that I can pass without reading the text and just watching videos...
Failed lvl 2, band 10. damn...
GFG guys, GFG. Time to drink.
passed l2, really didnt see that coming.... time to get fucked up
Passed Level I. What a relief.
Passed lvl 2, Booyah!
And to everyone that's posting their scores in an online public forum...you're effing idiots...
Passed L1. Let the party begin...
Failed. Exam wasn't a joke, def need to take it more seriously.
Pleased to say I passed L2 :)
Congrats to all passers, condolences to re-takers and good luck!
Q# Topic Max Pts =50% 51%-70% >70% - Alternative Investments 36 - - * - Corporate Finance 36 - - * - Derivatives 36 - * - - Economics 18 - * - - Equity Investments 72 - - * - Ethical & Professional Standards 36 - * - - Financial Reporting & Analysis 72 - - * - Fixed Income Investments 18 - - * - Portfolio Management 18 - - * - Quantitative Methods 18 * - -
The L2 party? :)
Congrats bud
Thanks,
It's the party so my friends won't forget who I am when I disappear to study next time. Party starts now and ends in November lol
Yeah, you're really close man - just focus on the sub 50s and you should pass next time.
Passed, 4th time
Derivs, FRA, Equity, CF, Econ above 70
Pm, Quant, Ethics, FI 50-70
Alts below 50 (?!?!?!)
Whatever I’m done with this beast on to LEVEL 3!!!!!!!!!!
Dedication right here. Gratz.
I passed Level 2! My report card would give hope to anyone doubting the plausibility of passing this exam. I went above 70 in Equities and Accounting only.
failed lvl 1. I just have 2 questions:
1) what did people do differently this time around to pass? and
2) how much time did you take off work
1) just did practice exams/q bank questions with very little if any reading. more so just figure out how to do the q's I got wrong
2) 3 days prior though I feel like those were the most unproductive days...
Good luck in Dec.
Thanks mate. I didn't do much reading the first time around. Maybe I'll squeeze in readings this time if I start ahead of time.
Passed I the first time but I did 9 Practice Exams and an additional 1000 QBank problems. No time off work. Doing lots of questions was honestly the best preparation.
I did practice many questions. I did around 400 Schweser QBank, and many many mocks from the prior years. I would say in total around 1200 questions. Maybe this time I will read the CFAI material farther in advance. Thank you.
1) Read all of the CBOK material and took notes in the book. Saved all of the chapter end questions for the last 2 months of review to get a gauge of how much I retained from note taking. Restudied my weakest sections. Took 3 Kaplan tests and the CFAI mock. All in, spent around 350 hours.
2) I took Wed through Fri off before the exam (remember, Monday was also PTO for Memorial Day). Don't put up with people telling you that you shouldn't take time off. The week off before the exam was very helpful and worthwhile if you make it that way. At my firm all of the PMs have their CFA so they are okay with me taking off as much time as needed because everyone here puts a lot of value on passing.
Hope it helps and keep your head up. You got this in December.
Fantastic username.
Thank you for the insightful post. Much appreciated.
Passed L1! And judging by the breakdown, I made it just barely.
time off work? what?
Man just keep this bullshit to yourself okay? I'm asking for advice, not a smart-ass comment by someone who probably spent 500 hours on an exam and is now pretending that it all came too easy. So if you have nothing useful to say, then don't respond to my comment.
Haha, it was legitimate banter, because nobody should be taking time off work (or even able to for that matter) to study for this exam.
Thats rough man. If it makes you feel any better i also failed L II the first time i took it. Get drunk of course and rejoice in the fact that you will crush it the next time around.
ur asking the wrong questions. i'm sorry to layer on but they indicate why you failed.
yes i spent 300+ hours on level 2. but hey that's the difference between a C at the start of your email and something else. and no it's never asking "what they changed". it's always asking "what works" and you would prefer what works the first time. the answer is to do 2000+ problems between qbank and 6 - 8 practice exams.
you should be asking how early do people start. in my case september.
if ur going to call me trying to hard u should've considered growing up with everything done for u. would u rather spend 200 hours twice or 350 once? anybody i liked who has failed any level of this test said the same thing to me which was "it was my own fault. i didn't spend enough time".
and also, i'm lazy as hell.
Floppity, that was a great post. Failing CFA is entirely one's own fault - all you need to do is put in the hours/practice time, and there should be very little chance you'll fail.
You reap what you sow.
Thank you that helped. I gave you the banana :)
Anyone else still waiting for results? I never got an email.
Passed level uno. Felt good to get that email after busting my ass (Realized that I learned little to nothing in undergrad). Not sure if it was the school I went to, or my smartass know it all attitude. Prob the latter.
For whatever reason, this thread reminds me of this:
(And for whomever failed this time, hope this will cheer you up)
Passed Level II. Such a good feeling after getting Band 9 last year.
Does anyone know a good Review book for the CFA Level 1?
Passed Level 2 with > 70 in all areas (very surprising given I felt very uncomfortable with Ethics and PM and to a lesser extent derivs leaving the exam)
Passed Level 1 last year doing Schweser readings almost exclusively, doing CFAI and Schweser EOC questions. Did almost 2k questions from the qbank. Used Schweser and CFAI mocks
I used Schweser notes for most of the readings outside of Quant, which I used CFAI. Did CFAI and Schweser EOC questions, and barely used qbank because so few of the questions were structured as vignettes. I think what really helped me with this was doing all schweser and CFAI mocks, and having the material finished by the end of April. I got right into the mocks after the readings which really helped me assess trouble areas and got me familiar and comfortable with the question format.
Failed Level 1 and I was expecting to take L2 in June... I'll retake in Dec. Do you think it is possible to pass Level 2 starting to study in January? (even before knowin if I passed L1 in Dec)
are you sure you'll pass L1 in Dec? everything's possible, depends on you.
No, of course I'm not. However, I would like to know it is possible or just a crazy idea that almost no-one could achieve. Just to plan the next year...
This is what I tried to do. Passed Lvl 1 in Dec (all above 70 except quant). Started studying in Feb, but unfortunately I failed Lvl 2 (Band 9). It's definitely possible... but if you are having trouble with Lvl 1, you may also need two attempts at Lvl 2. It's a completely different beast.
I was disappointed when I found out I failed, but now I have a solid base when I take the exam next year. If your work pays or you know this is what you want, then you just gotta go for it.
I passed L1/L2 doing the back to back and would recommend that strategy (schedule permitting) because I found it easier to get back into study mode after receiving L1 results. I don't quite understand why they would only offer L2/L3 once per year. I used Schweser exclusively (read 3x), took notes, made formula note cards, took 7 mocks, and logged 300+ hours. I agree that if you put in the time you should be able to pass but there is definitely a luck component to it given the breadth of information.
Tons of people do the dec L1 -> june L2 path, including myself. Unless you have commitments that won't allow you to give ~1.5 hours a day, starting before the grades come out isn't necessary imo. If you're gonna be busy as fuck right up until the test, then yea start ASAP after L1. Just find the first Schweser book online and start going through it, then once the grades come out either buy everything or not.
I work 9:00 to 19:00 so that's not very demanding... However, I'm studying a MSc in finance which takes wednesays and Fridays from 18:30 to 22:00 and saturdays from 10:00 to 14:00 (plus studying...). However, probably most of the study will complement with L1 and/or L2, so could be possible to take 1.5 hours a day.
Thanks for the advice !
I actually don't recommend this since it's extremely brutal. However, sometimes you just gotta do what you gotta do.
Charterholder here. Don't take anytime off work. Just start earlier. Level is not hard, just a lot of material. Its just putting aside enough time and hammering out as many practice questions as you can. They can only ask you the questions in so many different ways. Put aside a month for just practice exams.
Source that level 2 is going to be offered 2x a year?
It was an April Fool's joke, I believe. It came out on 4/1 and was later retracted. I don't remember the source, but I don't think it's true.
Gotta fall on my sword on this one and I admit that I am a complete idiot. The information was posted on a CFA blog on April 1st which I recall skimming briefly (wasn't really that relevant to me at the time). L2/L3 are only once a year. Edited to prevent misinformation.
Passed Level 2, on to the next.
Congrats to all the other people who passed.
I had the same categories, except had Ethics at 50-70%. I passed.
I hate to be a douche, but Level I is really easy - if you can't pass that first try, I don't think you can do LI in December and L2 in June.
Well, in my defense I must say that I failed due to the lack of a study plan (which, in other words means lack of study), not because the material is hard... Hope I can avoid that next time. Thank you for you input though!
Passed Level 2, first attempt.
Above 70% in all areas except Ethics, Economics, and Portfolio Management were 50-70%. So in other words, screwed for Level 3.
Hey,
I am interested if people want to share their ideas on the ideal preparation for L2. So far I have spoken to some people and they have told me that;
1.) Read the CFAI material as in books 2.) You can also read Schweser notes and do Schweser questions 3.) CFAI EOC questions are most important, plus the examples in the CFAI books. 4.) Do many mock and practise exams, but skip Q-bank, not so useful for L2
Comments appreciated!
No kidding. That's somewhat depressing on my end. I guess I hit the very bottom of all the ranges (sans Ethics), while you tended towards the top.
Good job though, and congrats! Definitely jealous!
Passed Level I first try (surprised but I'll take it). Unsure whether I'll do L2 or not though
Prove me wrong, man! I wish you luck!
Thanks! I walked out of there thinking I got 90%+ of the questions in FRA, Equity, Corp Fin, and Fixed Income right. I really studied those sections (except FI, I barely studied for it), so I knew I was going to nail those questions. I barely studied PM and derivatives. I don't know what the fuck happened in Alternative Investments, I thought I did okay there.
You'll nail it next year! Good luck.
I'd read Schweser instead of CFAI, but do the CFAI EOCs and blue box questions after each chapter. Last month, CFAI mocks and Schweser practice exams. I'd also sprinkle q-bank throughout. I know a lot of ppl hate on it for L2, but I definitely think it has its role.
Thank you for your contribution!
Said fuck Econ. And got 50% on Econ. It would be lovely if they had another tier at 0-33%.
Take your break for the summer and get started in September...L2 is fucking hard, but very doable. Just gotta put more effort in than you did on L1.
Passed L2 with the two friends that I had taken both L1 and L2 with.
Also found out from my friend that you can indeed get 50% on ethics in level 2 and still pass the exam.
Another interesting tidbit is that I saw my friend's passing email from CFAI for last year's CFA level 2 exam. He had failed originally, but CFAI called him back to tell him that during the quality control process, they found that he actually passed. That was a brutal score sheet. Handful of 50% and many 50%-70%. So that makes me feel a bit better about what the MPS really looks like, since that was the absolute minimum you could get to pass, and it wasn't pretty.
Onto L3 next year...and hopefully that's the last one.
Congrats! Good job!
Dude, what? Are you serious? See my scores above and you'll understand my surprise.
Passed level ii! This one was a ball buster for sure.
As far as prep, go to Amazon and search "CFA summary guide". It's sort of like cliff notes for the CFA exam and they're pretty cheap (around $40). Saved me a lot of study time.
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