CFA December 2018 Results

How did everyone do?

Background:
Undergrad - Finance and Economics - State School
Grad School - MSF - Semi Target
Investment Analyst @ Asset Management Firm

Scores:

70 - Alternative Investments and Derivatives, Ethics, Quantitative Methods
70>x>50 - Corporate Finance, Equity Investments, Fixed Income, Portfolio Management
50> - Economics, Financial Reporting & Analysis

Barely passed (FR&A was my almost downfall). Focused almost entirely on the practice questions provided by the CFA Institute. Definitely would recommend reading. Signed up on the last day so only had about 50 days to prep. Will definitely be spending more time on level 2 in June as there is zero chance of passing based on my level 1 practice.

Let's hear them!

Comments (42)

Jan 23, 2019

Passed > 90th. Bottom of confidence interval just barely touches the 90th percentile line.

  • 90+ Percentile: Alts, Corp Fin, Econ, Equity, Ethics, FRA, Portfolio Mgmt
  • 70+: Quant
  • 50+: Fixed Income

Background

  • Undergrad Accounting
  • MSF
  • Growth Equity / VC
    • 1
Jan 23, 2019

Well done. Congratulations!

Few players recall big pots they have won, strange as it seems, but every player can remember with remarkable accuracy the outstanding tough beats of his career.

Jan 23, 2019

Are you a BC MSF? If so I have a guess who this is :)

Jan 24, 2019

Don't know what BC you are referring to.. Boston College?

Went to school in Texas.

Jan 23, 2019

Passed - 90th percentile.

Background

  • finance / econ
  • 3 years banking experience

Jamal

    • 1
Jan 23, 2019

Congratulations!

Few players recall big pots they have won, strange as it seems, but every player can remember with remarkable accuracy the outstanding tough beats of his career.

Jan 23, 2019

Passed > 90th. Bottom of confidence interval close to the 90th percentile line.
90+Percentile: Corp Finance, Econ, Equity, Ethics, FRA, Portfolio Mgmt, Quant
70+ : Alternatives and Fixed Income

Background:
Still undergraduate, doing Econ & Maths 3rd year.

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Funniest
Jan 23, 2019

Passed < 90 Percentile

1.5 years of banking experience. Went to non-target for Marketing. Went through a breakup of a long term relationship a month before the exam.

AND my former "Mentor" who is a heavy user on here said I wouldn't pass because he is in PE and failed Lvl 1 his first time.

Suck it Mike. Suck it.

Jan 23, 2019

Good shit

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Jan 23, 2019

Direct quote from a former boss: "I would think long and hard about pursuing it" (I had been thinking about it for five years).

Another quote of his: "CFA is a waste of time" (He failed level II 3 times)

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Jan 24, 2019

Those who fail tend to be those that more adamantly oppose it.

Jan 24, 2019

Passed barely

Background
- Just a minor in Econ, no relevant background

I beasted Fixed Income and Alt & Derives which is solely why I passed.

Thank goodness I did not skimp on the low weighted sections. I am still not sure how I passed that I actually squealed out loud at work when I got the email.

Jan 24, 2019

Pass is a pass! Failed FR&A and still passed. The smaller weights count.

Jan 24, 2019

Congrats to all those who passed! I plan to sit for Level 1 in June. Would you recommend CFAI material if I start now?

Jan 24, 2019

also interested in this. Also are there any whatsapp groups for CFA?

Jan 24, 2019

reddit.com/r/cfa

There will be linkedin and whatsapp groups organized there from time to time.

Jan 24, 2019

Everything depends on your background, obviously the well known amount of time is 300 hours.

I probably put in 200 hours, but I also have accounting and finance degrees and work in alternatives. I honestly could have put in 100 hours on just ethics and quant and got the MPS.

I just used the CFAI material and Mark Meldrum for very specific trouble spots.

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Jan 24, 2019

Thanks for sharing this. Quick qs-Do Investment Banks sponsor their Associates for CFA? I am recruiting for Banking at business school this fall and will defer my plan to pursue CFA if they do sponsor.

Most Helpful
Jan 24, 2019

Sorry no knowledge there, came from a consulting background. Most places have some budget for "training" that can be applied to anything relevant with an approval process, so I would assume yes.

However, the CFA is geared toward buy-side so unless you are headed into the ER group at a bank, in a way you are saying you want them to fund a resume builder for exit opps.. So you need to make sure you are ready to defend why you want the charter.

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Jan 24, 2019

I'm a slow reader so I used Markmeldrum.com and hardly touched my books.

$200 and he has hundreds of videos and 4 full practice exams.

Jan 24, 2019

Passed > 90+

Background
Big4 ACA in London
Economics undergrad....somehow Econ was my worst score in L1 haha

Jan 24, 2019

Passed (the entire confidence interval was above the minimum passing score, but not by much).

Background:
- Finance major - non-target

Results:
- Alternative Investments (~67%)
- Corporate Finance (appears to be 100%)
- Economics (JUST above the 70% line)
- Equity (above 90th percentile, but only equates to ~75%)
- Ethics (just above the 70% line) (ethical adjustment?)
- Fixed Income (~37% ish) (skipped studying here due to lack of time, thought my work exp would make up for it, apparently not haha)
- FRA (~67%)
- Portfolio Mgmt (~71%)
- Quant (47%)

Recommendation to others if short on time: SCHWESER!!!!

Jan 24, 2019

Couple of questions i have about Schweser:

  1. Do you think it's too late to sign up for Level 1 prep now for the June 2019 exam?
  2. Did you do online or in-person?
  3. Which "Review" workshop did you do...I'm in Dallas and it looks like they have the 5-day one here, so I'm considering that.
Jan 24, 2019
  1. Why would it be too late? Unless you've already covered the majority of the material w/o the prep, then it is not too late.
  2. Online. An in-person course may keep you more on track, but a online self-study guide is perfect if you have other things going on in your life.
  3. The schweser books should be enough. I only got the secret sauce because I was EXTREMELY short on time (and only used it for the econ section, which helped me get the 70% required in that section). Qbank is helpful too if you have the time to do them/money to afford them.

Good luck!!

Jan 24, 2019

Passed. Bodied Quant, Alt & derivatives, ethics, equities, portfolio mgt, and corp fin. was borderline 50th percentile for FRA, Fixed Income, and Econ.

Well done lads. Lets get this bread

Jan 24, 2019

How many of you are signing up for lvl II in June 2019?

Jan 24, 2019

100%! At least have until Feb 13th until standard registration is over (and fees jump over 400!!!!!!)

Jan 24, 2019

One Hundo Percent

Jan 26, 2019

I am taking a year and going for 2020. I am a slow pace, can't study for ten hours kind of person. I'd rather do 2 hours a day for 9 months than ten hour weekends so going for 2020. However, I am so BORED right now. Gosh, what did I do prior to studying? I am cleaning out of boredom and rearranging my stuff...

Jan 24, 2019

On another note, why tf did early registration close in October for level 2 in June 2019? That's two months before December 2018 candidates even took the exam.

It almost makes more sense now that we have less time to study for the hardest level in June just to wait until next year.

I pay out of pocket obviously.

Jan 24, 2019

I get coughing up fees sucks..... But come on man, if $300 is enough to make you postpone completing the exams for an additional whole year, than why are you even taking the exams in the first place.

Are we not all trying to pass these exams to advance our careers? And in turn make more money? $300 shouldn't slow you down.

Jan 24, 2019

That was deep... you're right.

Jan 27, 2019

Scores:
70: alt, CF, equity, PM
70-50: Econ, ethics, fra, quant
50: FI
Result: Passed

Honestly I got extremely lucky. Due to recruiting during the semester I didn't have time to study until Thanksgiving break, so I put in maybe 30 hours. For the younger monkeys on here thinking of taking CFA, start early; a lot of the material is the same thing you learn in class, so it will be fresh in your mind. You are allowed to take it as soon as you qualify as a senior, so get L1 over with.

Jan 27, 2019

Scores:

Results: Passed

90 Percentile: FR&A
70%: CF, Equity, Ethics, PM
50%: AI&D, Econ, FI, Quant

Jan 27, 2019
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