Got an email right at 9 am with the results. Smoked my head on a low ceiling when I saw that I passed haha.
What I wanted to discuss though was that the pass rate was 36%. The pass rate for L1 in June was 42% (if my memory serves me correctly). Why do you think it was so much lower?
Was it because the pass rate in June was so high and they wanted to correct for it? Or was it because they lost all the scantrons from people that wrote in Ghana?
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Congrats, first time around? Are you considering sitting for Level 2 in June?
I think you are right on June being 42%. Could definitely be that they adjust difficulty for higher rates in prior exams.
Thanks, ya I'm going to take a stab at the June sitting - why not right?
and yes first time around. Didn't have a job though so I had a boatload of time to prepare for it
Congrats. Best of luck on L2
Congrats. That is huge. December has been low for the second year in a row. It speaks to the breadth and challenge of the CFA when we are saying how the June test, with 42% passing, is easier. LOL.
For those who passed, what study materials will you be using for L2 in June?
Do you guys consider Graham and Dodd's "Security Analysis" a somewhat relevant resource for preparation on the CFA exam? I am a college freshman and picked the book up in an effort to improve the returns of my personal portfolio, but I've found the book so vast and comprehensive that I can't help but think it must have some relevance to the CFA exam.
Congrats guys. I passed as well, first time. Considering doing level 2, but haven't decided yet (though I should have been studying a month ago) Time to update the resume. What's the best way to put it on there?
Well if you were registered to take level 2, then you could say "CFA Level II candidate". I think it's a violation of CFA ethics to say passed CFA level 1.
You can say you completed Level I... The difference is you can't suggest that CFA Level I is a designation.
Candidate for Level II is appropriate....
My friend who passed yesterday was thinking about putting this : "passed L1 CFA on first attempt, Candidate for L2 CFA, Scored >70% on all sections of CFA L1 Dec 10'"....... I told him I would trash his resume, or anyone's for that matter, if it had that drivel on it....
How to comply according to the CFA Institute:
CFA candidates can properly state, "I am a Level I (or II or III) candidate in the CFA Program." However, to make this declaration, they must be enrolled to take the next scheduled exam. If they are not currently enrolled, they should state, "I passed Level I (or II or III) of the CFA Program in the year ____." Alluding to an expected completion date is not permitted.
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