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® A 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!
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
Well done. Congratulations!
Are you a BC MSF? If so I have a guess who this is :)
Don't know what BC you are referring to.. Boston College?
Went to school in Texas.
Passed - 90th percentile.
Background
finance / econ
3 years banking experience
Congratulations!
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.
Passed PE and failed Lvl 1 his first time.
Suck it Mike. Suck it.
Good shit
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)
Those who fail tend to be those that more adamantly oppose it.
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.
Pass is a pass! Failed FR&A and still passed. The smaller weights count.
Congrats to all those who passed! I plan to sit for Level 1 in June. Would you recommend CFAI material if I start now?
also interested in this. Also are there any whatsapp groups for CFA?
reddit.com/r/cfa
There will be linkedin and whatsapp groups organized there from time to time.
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.
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.
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.
Passed > 90+
Background Big4 ACA in London Economics undergrad....somehow Econ was my worst score in L1 haha
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!!!!
Couple of questions i have about Schweser:
Good luck!!
How long would it take if I use the CFAI material for L1? Is 4 months enough?
It is not so much how much time do you have till your exam.... It's about the amount of hours you dedicate to studying.
If you are strong in finance you can reasonably cover the schweser material in 60-80 hours and have a good enough handle to pass level I (I assume levels II & III would require significantly more time).
If you are strong in finance and are attempting to cover the CFA material instead, it might seriously take you 80 hours just to READ the material. More realistically it would take you close to 100-125 hours to feel comfortable with just the CFA provided material.
Obviously it is different for every person, and will likely take significantly longer if your finance foundation isn't as strong.
Essentially what I am trying to say is that the Level I material is very basic, don't waste 125 hours reading every single word of the material. Spend $300 or whatever it is on Schweser and enjoy more of your life. But up to you! If you are short on money I understand!
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
How many of you are signing up for lvl II in June 2019?
100%! At least have until Feb 13th until standard registration is over (and fees jump over 400!!!!!!)
One Hundo Percent
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...
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.
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.
That was deep... you're right.
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.
Scores:
Results: Passed
>90 Percentile: FR&A >70%: CF, Equity, Ethics, PM >50%: AI&D, Econ, FI, Quant
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