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Taking INT ACC 1 & 2 at local college for CFA L2 prep

great_ape's picture
(Chimp, 10
 
Points)
 on 6/11/13 at 5:43pm

Are recommendation letters from a local college acceptable for a top MSF program? I plan on taking INT ACC 1&2 at a local college over the summer and getting A's so I could ask the professors for letters of recommendations for my application. The problem is the school is an awful CUNY, I couldnt do this at Baruch. Is this a waste of time and money?

6 Tips To Guess Intelligently In the CFA Exams (& Tips to Avoid)

300 Hours's picture
O
(Orangutan, 361
 
Points)
 on 5/30/13 at 9:30pm
IT'S A TRAP.jpg

In the final run-up to the exams, I know you're most likely up to your eyeballs in practice exams. Probably completely tired of anything CFA related and just want it to be over one way or another.

It's nearly over, and the last week stretch is really important, so give it a last push!

CFA vs Finance major

Alexa9's picture
O
 
Points)
 on 5/26/13 at 8:52pm

Hey guys,

Hope you are all having a great Memoria day weekend :) :p

I was hoping for some opinions on whether the CFA would be equivalent to what a Finance major would know....
I am an Economics major and I would like to know if passing CFA level I would let an employer know I have enough knowledge of Finance.
Or does a Finance major know a lot more than what the CFA covers?
Please enlighten me, thank you,
and also if you know about the CPA, how does it compare to an Accounting major?

Hi

Antipodean's picture
(Chimp, 12
 
Points)
 on 5/13/13 at 5:18am

To introduce myself: I've been with the markets group of a central bank for the past three years, mostly in analysis/monitoring of domestic and foreign money markets and FX.

In August I'm heading to the UK to do the econ masters at LSE and in a few weeks I'm sitting the CFA Level 3 exam. After I finish my masters, I'd like to make the jump to the private sector, ideally in fixed income asset management.

CFA for Hedging

Edward_Moran's picture
 
Points)
 on 5/10/13 at 9:23pm

Hey guys,

I am a rookie here and would appreciate some insight about this topic. I am looking to go to graduate school for Financial Engineering. After talking to professors, employers at banks, and looking on websites and such, it seems that there are not many MFE grads in the hedge fund world. However, I plan to take the CFA exams out of graduate school which may be of use in the hedging business. Could someone please let me know if having the MFE degree along with the CFA a possible route to become a hedge fund analyst. I would rather get a specialized masters rather than an MBA because I want to keep a strong math background but want to work in finance. (I am an Actuarial Science and Finance dual degree undergrad.) Thank you.

CFA Level III Exam - No motivation

ilikecreamcheese's picture
PE
 
Points)
 on 5/10/13 at 1:00am
images.jpg

Anyone else just lacking in the motivation department? Right now should be crunch time and I should be really ratcheting it up but I am having a hard time.

Has anyone taken level III? What do you think about it? Everyone always says it is a harder test than L2 but easier content. I think because the content is so much more subjective I am finding my studying is not as productive as L2.

Low Scores on your CFA Practice Exam? Here's What to Do

300 Hours's picture
O
(Orangutan, 361
 
Points)
 on 5/4/13 at 8:00pm
1381742 (1).jpg

We've previously covered again and again that practice exams are the best things for you if you're serious about passing your CFA exams. 

But as we've mentioned in point #6 in Things We Love to Hate about the CFA, there is a truly unique sense of panic and depression when you've graded your first practice exam, probably with a sense of hopeful optimism.

valuation allowance (deferred tax assets)

leslier's picture
(Monkey, 35
 
Points)
 on 4/23/13 at 5:48pm

prepping for my CFA lv 1 exam now and have a question regarding the valuation allowance..

"Would an increase in valuation allowance signal the company's expectations of a decreased future earnings power or increased future earnings power?" -- please help explain as well... :)

Thanks!

Is an MBA Worth It?

300 Hours's picture
O
(Orangutan, 361
 
Points)
 on 4/16/13 at 7:00am
125256.jpg

We talked about CFA vs. MBA previously, but this is more fundamental. It's one of those classic questions that always end up with "it depends". 

I do get why we arrive at that conclusion, as the question is so broad and cannot be generalised for each candidate's circumstances. Yet, it' still so anti-climatic and unsatisfactory. 

what should I do??

SaltySpitoon's picture
(Monkey, 38
 
Points)
 on 4/4/13 at 6:26pm

Hey guys, quick question

I'm a sophomore majoring in finance at a non-target school (U Central Florida). My GPA is a 3.0. I've kinda been coasting through college so far but I know next year I'm gonna have to kick myself in the ass and get straight As. I was also thinking of starting a finance or investment club to beef up my resume and gain some leadership skills. Because I don't go to a target school, I've been putting a lot of thought into getting my masters in finance after I graduate but that is still up for debate. Ideally, I'd like to graduate and land a job as an analyst or maybe in consulting.

Darden, Ross, or NYU for Investment Management career?

Spalding Get Your Foot Off the Boat's picture
 
Points)
 on 4/3/13 at 9:44am

Fellow Monkeys,

I've been accepted at the three above programs and am seeking a career in buyside Investment Management (I was painfully dinged at the stronger IM programs - Booth, Columbia, and Wharton).

How hard is it going to be for me to me to secure an IM job out of school? My background is in Management Consulting and I'm taking the CFA level 3 exam this June.

Not gaining acceptance to one of Booth, Columbia and Wharton was pretty painful - should I consider postponing a year to re-apply?

Any thoughts are welcome.

-Spalding

CFA while Interviewing?

Jamess1's picture
CF
 
Points)
 on 3/27/13 at 11:06pm

I am signed up and have been studying my ass off for Level 2 in June but am also going to be interviewing in the coming weeks. Ideally the job would start June 3rd but who knows what I will get into.

Any ideas on how to approach this topic in interviews? Specifically IB who will already be skeptical that I'm adding any value with the test?

I'm worried about being dinged because I'm tied to this June 1 test center date possibly in another city. My plan was to simply say, "yes I am signed up for the test but should I become employed and in a different location than my test center, I would place focus onto my place of employment and CFA would be only secondary to succeeding in my new environment." Something like this...

Help?

The CFA Curriculum, As Explained by Two Cows

300 Hours's picture
O
(Orangutan, 361
 
Points)
 on 5/29/13 at 9:55am
The CFA Curriculum, As Explained by Two Cows

Ever feel that the CFA curriculum is a bit incomprehensible at times?

Every topic makes sense when you're going through it, but for me, it's difficult to recall at short notice what each topic is about. 

10 main topics, each fairly different yet connected. How does one sum each topic up in a succinct way?

To help you along, we present to you the 10 CFA topics summarized using a two-cow analogy (ahem). Feel free to share and pass it on, or put it up on your wall while studying. Enjoy!

Studying the CFA Level 1 full-time in one month

Drive's picture
CO
(Chimp, 15
 
Points)
 on 3/19/13 at 8:22pm

I will graduate from a Finance undergrad program in April and will have the whole month of May to study the CFA level I . Has anyone here passed it this way? Do you think it would be enough?

I started to study last month but the problem with this strategy is that I tend to forget the bulk of what I have studied previously hence it is not very efficient.

Thanks.

How Your Work and Education Background Correlates to Your CFA Exam Performance

300 Hours's picture
O
(Orangutan, 361
 
Points)
 on 3/12/13 at 11:30pm
How Your Work and Education Background Correlates to Your CFA Exam Performance

If you don't have a finance-related background, are you disadvantaged when it comes to the CFA exams?

In the December 2012 exams, we set out to find some clues to shed some light on just that. In our Analyze Results tool, we now include a question where candidates can input their work and education background, indicating whether their backgrounds were finance-related or not.

Given enough of a sample size, we could then compare the various background profiles with pass rates, and see how pass rates varied across candidates that had different backgrounds in work and education.

The results were quite surprising.

How to Find Inner Peace and Sleep Better

300 Hours's picture
O
(Orangutan, 361
 
Points)
 on 2/27/13 at 5:30am
inner-peace_fb_132202.jpg

We are supposed to feel rested, recharged and ready to face the new year with energy and enthusiasm. Do you really feel that way? Or are you overwhelmed by your long list of challenges and to-do's?

This year, my new year resolution is simply to sleep better. Why? Because sleep is crucial to our mood, state-of-mind and productivity. Sleep gives you the source of energy and enthusiasm that you need for the new year, it's the driver for all your resolutions - the mother of them all. 

Who's in for Level II?

frgna's picture
O
(King Kong, 1,016
 
Points)
 on 2/13/13 at 1:46pm

I think today is the last day for the discounted price - anyone else tackling this bear in June? I just registered and bought my Schweser notes and qbank.

ps Patrick/Andy - what would you guys think about a CFA specific forum? Practice questions, tips, resources, etc.

Can you ask your firm to sponsor your CFA if you only worked there for a week?

ahpatsum's picture
CO
(Baboon, 102
 
Points)
 on 2/13/13 at 12:41pm

Can you ask your firm to sponsor your CFA level 1 if you only worked there for a week? (you dont want to miss the deadline)

No, Low CFA Pass Rates Are Not Financially Motivated

300 Hours's picture
O
(Orangutan, 361
 
Points)
 on 2/12/13 at 11:00pm
No, Low CFA Pass Rates Are Not Financially Motivated

CFA pass rates have declined since inception in 1963, although it's been plateauing in the past few years. But after each CFA exam, there will be a general rumbling of dissent on yet another low pass rate. Why on earth are the exam pass rates so low? 

An extremely popular theory among candidates is that this is financially motivated. Low pass rates mean that candidates have to take the exam again, resulting in more revenue for the CFA Institute. 

Let's explore this theory and see if it holds water.

CFA Level 1 candidate on Resume?

virvir2323's picture
PT
(Monkey, 46
 
Points)
 on 2/7/13 at 10:15pm

I'm a recent Finance target, applying to S&T at BB
I have stuff in my resume that shows im good with my technicals

I'm thinking of registering for CFA in June, should i put "CFA level 1 candidate" on my resume.

Initially, one may think "oh, it wont hurt", but what if they focus their attention on it, and then subconscious/consciously assume that another applicant with "CFA level 2/3 candidate" is more technically qualified?

Will "CFA level 1 candidate" help in any way on my resume?

thanks

CFA Vs. Applied Mathematics Degree at Open University?

skidlid's picture
ST
(Chimp, 4
 
Points)
 on 2/7/13 at 7:25am

Hello All,
So bit of background frist.
I have a job offer to start in the summer at a bulge bracket in the commodities department. A lot of people are talking about doing a CFA and it seems (in my eyes at least) to be wasted on people. The topics don't seem to translate massively to the real world. So i was thinking for the same effort i can get an applied mathematics degree from the open university. I already have a degree in computer science from one of the top 5 uni's in the world but i've always enjoyed applied mathematics and so i figure i'd get more from it.

I also figured it would help when i want to do an MBA or a Masters at Oxford, Cambridge etc.

Your opinions would be great. Thanks.

CFA Level 2 and 3 requirements (ASAP)

ahpatsum's picture
CO
(Baboon, 102
 
Points)
 on 2/6/13 at 8:25pm

Level 1 - bachelor's, or final year

Level 2 - Level 1 pass

Level 3 - Level 2 pass

(CFA title - 4 year work experience, reference letter, etc)

Is this right??????
So i can do level 2 and 3 without work experience?

27, Still Working On BBA and CFA L3.... Advice

subrosa's picture
 
Points)
 on 2/3/13 at 2:33am

I'm 27 and have 4 years experience working as a FA. I hate it with a passion, although I've done better than I thought I would. Due to things outside of my control, I am still working on an undergrad degree. I should be done by the summer of 2014 (took several years off due to ridiculous family issues). If I pass L3 in the summer I should be a charterholder immediately. I have been wanting to hold off trying to switch over to analyst role after I finished up school, but I'm at the point where I almost think I might as well give it a shot. If I start networking and people find out I still am taking classes I feel as if it would tarnish me in the future.

CFA Blogs

lukebowes1234's picture
(Chimp, 2
 
Points)
 on 1/24/13 at 2:16pm

What are the best CFA blogs and forums out there?
Currently I reead 300hours, analystsforum, and some stuff here. Anyone else know of any good ones?

CFA questions

hewenxun376's picture
(Chimp, 8
 
Points)
 on 1/24/13 at 1:19am

Hey, guys. I just registered the CFA exam for June 2013. I do not have any ideas about how these study materials works even I read some info already. I have a couple of questions. so we are supposed to study the CFA curriculum books and also need some other materials, like Schweser notes, mock exams, practice exams, right? So what is the notes about? Where do we get the sample exams? Any tips monkeys? Thanks

Level 1 Results

guymanuzo's picture
O
(Baboon, 104
 
Points)
 on 1/22/13 at 9:01am

I just got my results and I passed I am so relieved. Now I am on to Level 2 and kick that ass. I hope you monkeys got some good news too.

How relevant is CFA Level 1 for a finance undergrad?

straightnochaser's picture
(Monkey, 43
 
Points)
 on 1/21/13 at 4:53am

What's up monkeys,

CFA season is here again and I'm concerned with the advantages of applying for the Level 1 examination. I've heard sides where employers say it's "good to have" and even others who say they won't base their decision on it to a large extent; mostly disinclinations to take the CFA Level 1.

Another reason for concern is because it's damn expensive for a sophomore (me), and I'd like to make a proper decision here. If it really helps in things like my internship applications (IBD, S&T SA, etc), I've no qualms in blowing the cash on it.

Can any professionals or people who've taken the exam or is a charterholder give some tips?

CFA preparation -- 4 months

Nonedigital1's picture
(Chimp, 3
 
Points)
 on 1/18/13 at 3:32pm

Hi all,
I am almost new to finance. I have economics and engineering background. I would like to take exam for level I in 4 months, does it seem doable?
Thanks!

20 Things I Wish I Knew Before the CFA Exams

300 Hours's picture
O
(Orangutan, 361
 
Points)
 on 1/18/13 at 11:30am
20 Things I Wish I Knew Before the CFA Exams

6 years ago, I signed up for my CFA Level I as a sprightly, wide-eyed innocent.

I wish at the time I had someone who'd gone through everything to point out the potholes of the journey I'm on. For example, warning me about the difficulty of Level II would have saved me a lot of trouble!

Here are 20 things I didn't know before I went through the CFA exams. Some are funny and inconsequential, some are serious and important to know.

  1. It's tough as nails.

Can I escape this back office trap?

insight2812's picture
(Chimp, 4
 
Points)
 on 1/12/13 at 4:04am
bo trap.jpg

Little background on myself. Mid 20s and got a degree in finance, MBA, and MS in Finance in 6 years consecutive from a generic public business school. Weak GPA of 3.12. As part of MS in Finance, I finished with a 4 month internship in regional wealth management capacity, which I loved and was asked to enlist in a lowly entry level position at the bank at the end of the internship. I made one of the worst decisions I've ever made by turning this down because of the small town location and figuring that I could find a better job.