Failed CFA L1 and Have NO Regrets
Hello WSO,
This is my first post so please bear with me (don't really know what forum this belongs to under WSO).
I have noticed a few members posting their anguish on failing the CFA (and perhaps even more who are not willing to admit it on a forum). I failed the L1 and landed in the 10th band, I will be writing it again in December.
The reason for my failing was due to an inadequate amount of studying, I graduated at the end of April and had approx 30 days to study for it. Along with many distractions, I really only studied 20 days. I had a good idea that I would not pass, I was getting ~60% on Kaplan's mock exams.
HOWEVER, I do NOT regret for a single moment studying and trying to write it. Most of my colleagues post-poned writing it until December. I however, am determined and willing to fail so long as it means I tried!
I knew it was a long shot since I barely had any time to go over the materials but I was not willing to give up because I was not afraid of failing.
The point of this post is to encourage "to-be" candidates and current candidates to not be afraid of failure. Failing is better than not trying at all (I'm not trying to sound like a 90 year old nanny here).
Not only did I gain valuable experience from going through the 6 hour exam BUT I will be much more prepared in terms of studying techniques and going over material for the December L1.
So if you think you got it rough by failing and landing in the 8th or 9th band, try me, someone who landed in the 10th band. Would I have not written it if I knew I would fail? Hell no, I would suck it up and still go for it.
Hope this encourages my fellow candidates for all levels in December and June.
If you knew passing was a long shot, couldn't you have postponed the test like your colleagues, prepared better and saved yourself a lot of money?
NotthehospitalER,
Yes that was an option. However, if I postponed the test I would have never known if I could have passed and there would have always been the "what-if" question (not to mention I came quite close anyway). Not only will I be better prepared now that I already wrote once, but I will be more confident than as if I was writing for my first time.
Your consideration of money is logical, however, I felt the experience gained was well worth the chance of having to re-register.
In the end, to each their own. I was just giving how I felt and trying to motivate other individuals who failed.
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