You can now take CFA L2 in undergrad
(Screenshot taken from reddit)
First they lowered the difficulty to incorporate optional practical modules (Python or modelling). Then they lowered the bar so that penultimate year students could take L1. Now, undergrads can take L2 before graduating.
What a race to the bottom. RIP CFA. Srsly wonder if it'll be taken seriously by the industry in like, a decade if this carries on. Wonder what people should do now given that all these things are diluting like mad to sell out.
I made this point in a thread a few months ago and it was not well received. In the last decade or so, the CFAI has been "democratizing" the credential--lowering inflation-adjusted fees, increasing test taking facilities, increasing test taking dates, and slightly lowering the difficulty of the exam. Even before the last decade, they were very liberal in what they would accept as proper work experience. Add it all together and it's slowly diluting the credential.
Idk, some folks argue that CFAI is just getting more people to take the exam and earning their fees. However since the difficulty remains more or less the same, the number of Charterholders (per year) will stay the same - it will always be the same number of people in the funnel with the grit to get thru 3 levels. They point to the low pass rates as evidence of this.
But the pass rates have increased (not drastically, but statistically significantly) over the last ~15 years, this while the number of test takers has skyrocketed. This is as close to objective proof of an easier test as can be found.
Not necessarily, we’ve got so many affordable ressources today, not to mention technology if you compare to like 20y ago.
Back here on Earth, there were extensive CFA prep materials 15 years ago. Sorry to say, the harsh reality is that the CFA charter is losing its luster.
L2 is pretty difficult material for undergrads. This is interesting. Hopefully it won’t tank some people’s GPAs. I feel this is a trap for many.
Also, some schools might develop a CFA track that emphasizes covered areas of the CFA curriculum in class, similar to Creighton University.
Well I thought undergrad was harder than L2.
And studying for L2 in undergrad is just stupid. You have your whole life to do that, but you only have a few years in uni to have formative experiences and make lifetime friendships. It ain't gonna move the needle for recruiting; if anything, doing the opposite - getting yourself out there and immersing in the community - will. Hope no one gets trapped
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