I wish I could write that my disappointment is over and I'm ready to move on. I don't have much of a choice other than continuing my studies--most of the time, I enjoy studying and learning. And after going through a mini-depression, I'm feeling better than I did on July 24 when I received the jarring news that I had failed the Level 2 CFA® exam again.
Double Checking CFA® Test Results
I always have a plan for the next exam. It's tougher this time around because I was so sure I had passed. I was dreaming about the Level 3 curriculum and completing the final stage of the trilogy. I was eager to learn more about portfolio management, the topic that dominates Level 3. Anyway, I had my exam paper retabulated by a human being from the CFA® Institute; the computer marked my exam originally. I was told that retabulation rarely leads to a passing grade, but I didn't care. I read a story in the newspaper of a computer error that wrongly denied students the right to be graduated from their school and thought that computers aren't so infallible after all. Well, the CFA® computer didn't make any mistakes with my grade, as I was told early last week, so here I am, disappointed and more determined than ever.
CFA® Level 2 Study Plan
My new strategy? Take more CFA® exams. Be less afraid: answer questions, questions, and more questions. Answer all those questions in the CFA® Curriculum books. I said I would do this last year, but I didn't do it enough. And maybe I'll use Élan Guides because they've added Peter Olinto to their staff as one of their lead instructors. I missed Peter's sense of humor and wealth of knowledge when Stalla was bought out by Schweser last year.
As I said, I'm more determined than ever. The FRM Part 2 exam beckons in three and a half months. After that, I'll celebrate Thanksgiving and then give it another try. I plan to take this exam until I pass.
Do any of you who failed one of the CFA® exams have a new strategy you'd like to share for next year's exam?
I did the CPA exam, but I imagine the same strategy applies - multiple choice, multiple choice, multiple choice. If you start seeing the same multiple choice, buy more multiple choice questions.
Fuck that shit bro, MC, MC, MC all the fucking time.
Everyone has a different approach. However, many people that I knew who did an endless number of questions, failed. During the final month before the test, I focused almost entirely on the materials and reading the notes/texts. New questions are good. Avoid doing the same ones over again unless you did not understand them the first time.
You has ze PM
Be very disciplined, and know the actual CFAI books as best as possible. Keep in mind that's where the test questions come from. At a minimum, know every EOC and Blue Box problem inside and out.
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