Today is the big day we've been waiting for/dreading since early June, when we peeled out of the testing center parking lots, burned our books, and went off to get drunk with our long lost friends.
Level I & II results will be released via email today after 9:00 A.M ET. Level III candidates have to wait until August 11th at 9:00 A.M. ET. There is nothing worse than the immense tension buildup before the results are released in the morning when you and your co-workers are refreshing your Gmail every five seconds to find out your fate.
How did you guys do?
IIRC 25% of people who sign up for level 2 are no-shows, thus proving that the other 75% are gluttons for punishment.
Level 2 was the exam that made me swear off level 3.
Waiting on L2 and will be doing the same as you. I'll be going out, pass or fail and honestly, at this point, I just want to know the result so I can know where i'll be next June. Tomorrow is going to be a long morning...
I blacked out those 18 months of my life. I can barely remember sitting for and passing all 3 levels. Good luck with the results.
Here take a silver banana. For good luck.
Good luck chaps!
Oreos, CFA
Not long now! I wish this came at a much earlier time and I didn't have to be awake for the waiting period.
I am waiting for level III results myself.. Coping with the two week extra weight (wait, but originally typed weight so leaving it with this thought, maybe that is a sign of the huge burden these tests have and i just hope I am down...), I will say good luck to you all. Since I don't know that I can post pictures here, here is my crude recreation of the binomial pricing tree for CFA results that I saw last year.. Basically both outcomes yield the same result!
Might not format correctly but you get the idea.. -Pass, Celebrate- - .5 - - - CFA EXAM Get Wasted - - - .5 - Fail; Drown Sorrows
Pass Rates June 2015 exam pass rates Level I: 42% Level II: 46% Level III: Available 11 August
http://www.cfainstitute.org/programs/cfaprogram/exams/Pages/cfa_exam_re…
Level II pass rate same as last year. Level I down 2%. http://www.cfainstitute.org/programs/cfaprogram/Documents/1963_current_…
Refills coffee cup with bourbon
Pretty sure I failed, but I want to make sure I did well in the sections I had time to study for.
Good luck. Just remember that if you don't pass, it's not the end of the world. Try to keep some perspective.
Passed L1. Glad i did but i need to buckle up for L2.
THANK THE LORD I finally passed Level II - was my third attempt. Fuck yes getting mangled tonight boyssss
Passed Level II! Did a lot better than I thought. What a relief! I feel like Andy Dufresne climbing out of a half-a-mile long, shit-filled pipe.
congrats buddy.. i'm still waiting anxiously over here, need this thing to come NOW
CHEERS!
Haha this is exactly how I felt. Passed L2 first go - what a pain in my ass. SB for you for that reference
Passed L1! On to L2....
Passed...
at least 51-70% in everything, over 70% in corporate finance, Equities, and PM,
Did anyone pass with below 50 in anything? Trying to get a feel for the results.
Passed L2 with 50% in Ethics, Quant, and Portfolio Management; >70% in everything else.
Congrats, and thanks for the info.
Passed Level 1!! I wasn't hoping for much considering my life sciences background, but THANK YOU SCHWESER!!!
After a couple hours of swaying in the breeze, got the good news on Level 2. Congratulations to all that passed; what a grind.
Cya again next year Level 2... i was close with only 150 hours of prep, so I got this next time around
What's your weekly study schedule like? How many hours per level do most people put in?
I took L1 in decemeber, so I didn't start studying until February. However, it didn't really ramp up til March. Most of the heavy lifting was focused in April/May.. This time around I will start earlier, I would have liked to have been throug the material a month or two earlier so that I could start mocks and EOCs.
Don't really have a weekly study schedule, but I try to get at least an hour or two a day early on and then it climbs from there as the test date approaches. They recommend around 300, but I'd guess most people are in the 200-400 range
That's a kick in the nuts, but you'll pass next time around. I was on a similar timeline, but was lucky enough to eclipse 300 hours in the last week. Started in February, but didn't really kick it into gear until late March with no fun weekends in April or May. If I could do it again I would start earlier (mid-Jan) and pace myself so I don't burn out at the end.
Dude I knew a guy last year that spent 1000 hours on level II and failed. He had a gov't job where he could study all day and started in the fall.
I'll be on a 15 hour flight when level III is realeased. Going to be a long flight.
Oh man, I remember this feeling... All for the privilege of paying $600/yr in dues. Good luck guys!
You do realize that society membership is optional right...
For those who passed L2 start collecting L3 schweser books asap...that night out of shameless boozing will cost you tons of points next June
You can't earn the charter without joining a society.
Passed Level II. 2/2 so far. Pretty happy considering I work full time + grad school + wedding planning. Hugely relieved. >70% in all but Ethics...so you CAN pass with bombing Ethics.
My results still havent come yet should i be worried
Friend of mine is still waiting on L2 results...
Tell your buddy to check his Spam folder. My filter caught my results last year and I was left worrying for an extra two days before I figured it out.
Passed Level I. 70+ in ethics, equity, and portfolio management. 51 - 70 in everything else.
Failed Level II. Didn't put in enough time, did only weekends up until May and then I switched to every day. Didn't put in the time and work was brutal. Everyone is being really nice and saying 'everyone fails Level II, it's the hardest.' Not sure if that's true, but it's alright. I'll take it again next year...
Congrats on the passes guys! Managed to do get a pass myself 54 mins after 9AM ET. That extra hour almost killed me, but it didn't, so now I'm off to the bar to finish killing myself by drowning in celebratory beer.
Passed level 2, probably not by much though. 50 in Corp and Derivatives, 51 - 70 in FRA and 70+ in the rest
Passed L2 somehow! Totally wouldn't think so looking at my results haha.
Passed Level 2.
>70% on Equity, Ethics and Fixed Income 51% - 70% on everything else.
First attempt at the exam....will have to try again in December. I ended up changing jobs and moving to Stamford in March...Will try to follow a timeline this time
Congrats all on passing!
Level I down. Just happy that I don't have to spend the next four months studying again... Somehow hit 70+ in Econ after skipping the readings and just looking at problems/the Secret Sauce. Best of luck to everyone - we're all gonna make it bruhs.
Wow, passed level I. I had less than a month to study for the exam, and did not even have time to take a mock. above 70%: corporate finance, Derivatives, Equity Investments, Fixed Income Investments, portfolio management, Quantitative Methods 50% - 70%: Ethical & Professional Standards, Financial Reporting & Analysis below 50%: Alternative Investments, Economics aiming for level II :)
Passed L1. See you in June, L2.
Wow, passed LI by the skin of my teeth. I'm pretty sure the Ethics adjustment was the only thing that got me through.
Time to drop ~$600 on LII in the morning...
Passed L2 after passing L1 in December. Dem feelz...!
Band 10...kill me now
Failed L1 by the teeth FFS.. Four modules >70%, Four 51-70% and two below 50% (ethics, quant).
Failed L2, band 9. Frustrating, had a bad feeling though after my two weakest spots came up time after time.
Passed Level 1 my first attempt!! 1 module 50% (Corporate Finance), 6 modules 51%-70%, 3 modules >70% (Ethics, Alt Inv & Portfolio mgnt).
L2... band 9 last year... band 10 this year... see you next year L2.
Passed L2 with:
50% in Corp. Fin., Econ., Quantitative Methods 51-70% in Ethics and Financial Reporting & Analysis > 70% in everything else
Passed Level 1. 50% (Fixed Income) 50-70% (Quant, FR&A, Corp Fin, Ethics, and Equity) >70% (Alternative, Derivatives, Econ, and portfolio management). Pretty sure I BARELY passed, but who the hell cares?!
Now that I'm done, I'll miss the annual study week I got to take off work.
PASS
Passed L1. On to L2!
Those that passed L2: Did you use CFAI materials or 3rd party? Heard Schweser wasn't as much help as it is for L1....
I used the CFA stuff for L1 and L2, and passed both on the first try.
Congrats, dude. I used both for both Level I and II, but probably could have passed Level I with just Schweser. I would advise using both for Level II. Schweser does a good job cutting out some fluff, but I always want to do the EOC questions the CFAI provides as well as review a few more sections in depth. Otherwise, just hammer the Schweser Q-bank and take 5+ practice exams. I think I took 7-8 and that made the difference.
Used both. Went through Kaplan 1st time around to get my feet wet, then went heavy into CFAI - it was critical. Only used Kaplan from that point forward for practice problems and to clarify things if necessary. I would highly recommend using CFAI (I used only Kaplan for L1).
So how many believe CFA gives an edge to demand more comp while switching jobs or within the company... I've mostly being told it's hit or miss.. (currently at $120k base at a NYC name brand Asset Management shop.. will it take me to $150k base?)..
Curious to know as well. How many years of experience do you have?
I think it is sort of becoming commoditized. 170k people sat for the exam in June.
Says dude who wants excuse not to take it.
Take this for what it's worth - the shops that care about it are willing to pay more for someone with the designation. I'm sure you know the type, on their marketing material literally every analyst has the charter.
Granted, it may not be like this forever. But, if you think about it - it surely can't hurt
Passed L1!
Need some advice here. I'm starting MSF this fall and not too sure of having time to juggle L2 alongside considering the networking and job hunt fluff that'll go on well until spring or beyond. What do you monkeys think?
I did it while doing MSF (part time, but 2 classes per semester) + working full time. Sack up and stay super focused, you can do it. Passed L2 on first attempt.
So glad I got it all behind me. Enjoyed the extra vacation I had this year, as I didn't need to use it as study time.
To all those still at it: KEEP ON TRUCKING! The reception by coworkers and fellow finance professionals once you have the thing is very positive (I'm in Europe). Plus, the Society and Institute events (e.g. global conference) are great networking platforms.
Anxiously waiting for August 11th...
I think the more I went through the program, the more I realized how helpful the CFAI material actually was. The practice problems throughout and at the end of each chapter are awesome practice that can be easily overlooked if your head is stuck in the Kaplan material. My strategy throughout is to go through the Kaplan material a few times and then hit CFAI for practice problems. It's worked out so far and, knock on wood fingers crossed, hopefully it'll have gotten me through all 3 levels on the first try.
Passed level II as well.
Anyone see any material changes in their prospects after passing level 2 or 3? Need some sort of motivation for the next level...
(and yes I understand its not a golden ticket, supplement for expierence, etc.)
Congrats to everyone that passed!
Congrats to everyone that passed and good luck to those doing Level 3!
Passed level I. Congrats to everyone else who passed.
If you have half a background in finance, Schweser can get you through 1 and 2.. I only use CFAi for ethics.. Tbh I didn't do the CFAi practice questions or exam any of my 3 tries.. my experience is the test is way easier then CFAi practice Test (I do look at some questions but then just smh and go back to schweser).
Got thru 2 this year after fail last year (my own fault/ethics adjustment downwards most likely)
failed derives, middle in Quant and ethics, aboves 70 the rest On my first level 2 go around, I failed ethics and alternatives, was above 70 in equity, accounting, corp finance and econ but did not get the nod (band 10)
Pass lvl 2. >70 in everything but FRA
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