Arrogant

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bigcolombian

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I'll admit it. I was arrogant. There, I said it! I thought that just because I took classes during my undergrad that covered a majority of the material in the CFA that I would be able to complete those sections with just a cursory glance at the material beforehand. The funny thing is that I was freaked out about FSA and studied that part more than anything else. So, as a result, I am 95% sure that I did well on FSA, but I know I bombed everything else. Oh well. A nice slice of humble pie for me.... and it tastes like crap! At least I have a job that isn't going anywhere, and I can take the exam again later on.
 
Anybody else think that "bigcolombian" with "a job that isn't going anywhere" is a money-launderer for a drug cartel?
 
I'm relatively certain that happens to a lot of people. Most candidates have covered the material in one form or another before, but weren't always expected to know it in the amount of depth the CFAI expects/demands. You seem to have learned an expensive lesson. Good luck with whatever it is that you decide to do.

EDIT: "Anybody else think that "bigcolombian" with "a job that isn't going anywhere" is a money-launderer for a drug cartel?"

- Haha. Now that you mention it...



Edited 1 time(s). Last edit at Monday, December 15, 2008 at 10:28AM by JensensalphaMale.
 
Only during the summer! Let's just say I work on the regulatory side of things, and we are very busy right now.
 
Forensic accountant working for DEA?

Edit: No that doesn't work because freaked out by FSA. Hmm..



Edited 1 time(s). Last edit at Monday, December 15, 2008 at 10:32AM by JoeyDVivre.
 
I dont see how anyone could have taken this test lightly.

This site is full of sob stories of people who failed. If a 35% pass rate doesnt let you know from the door this isn't some undergrad final, I dont know what would. It's literally the equivalent of taking a final for your entire college career.

Check out my blog

http://myCFAadventure.blogspot.com
 
Since I took up business for my undergraduate degree, I thought Level 1 would be a piece of cake as well, and that was primarily why I signed up for it. When the books came and I started reading, I realized how terribly wrong I was.

http://around.blogspot.com
 
JoeyDVivre Wrote:
-------------------------------------------------------
> Anybody else think that "bigcolombian" with "a job
> that isn't going anywhere" is a money-launderer
> for a drug cartel?

I get this feeling about a lot of shops while walking through Chinatown. There is no way they can actually be turning a profit leasing a giant shop right in downtown Toronto just to sell miniature flags. The fact that the clubs and bike shops nearby keep getting busted with drugs isn't helping. I think the entire district is a front.



Edited 1 time(s). Last edit at Monday, December 15, 2008 at 10:37AM by supersharpshooter.
 
jlive1975 Wrote:
-------------------------------------------------------
> I dont see how anyone could have taken this test
> lightly.
>
> This site is full of sob stories of people who
> failed. If a 35% pass rate doesnt let you know
> from the door this isn't some undergrad final, I
> dont know what would. It's literally the
> equivalent of taking a final for your entire
> college career.


Make no mistake. I'm not crying about it. Kicking myself, perhaps. But I have no reason to cry about it. I will just take this as a lesson learned, take a small break (six months or so), and try again by starting earlier and reviewing old information as I progress (this really did me in).



Edited 1 time(s). Last edit at Monday, December 15, 2008 at 10:53AM by bigcolombian.
 
I've heard it speculated by a few people that this is fairly common and probably contributes to the 35% pass rate. I was a pretty big know it all out of undergrad myself and had I been a finance/business major probably would have done the same thing.
 
I think the problem is that people try to fill in the demographics to try and explain why the pass rate is so low.

well... 35% of people pass, average age is 30.. ding ding ding!

theyre too busy with their kids to study and thus bringing the average down, plus, so many people take outside the US and the test is in english... clearly... that explains it. plus, theyre not even in finance anyways, so... yeah.....
 
And the answer is..."it's an f-in hard test with no easy passes".

And my words of comfort are "Just wait until LIII when the pass rate is just slightly higher but all the people with good excuses for failing like being stupid, not caring, etc have washed out"
 
I agree. There was a guy I was in undergrad with that had the same attitude. He passed level 1 but failed level 2 three times before giving up.
 
I should probably know better and wait to see my results before I chime in but it runs contrary to my nature. Not to mention at this point it doesn't much matter and I've got lots of free time now with no studying to do so why not speculate away.

In any event I'm having a tough time squaring the exam that I just took with a 35% pass rate. I'm not saying that it wasn't tough, nor did I just stroll into the exam having glanced at the material. Nor am I even sure that I passed, although I think I have a sporting chance. I'm just saying that I thought it was overall a pretty fair exam which would suggest to me a higher pass rate, all else equal, so I can't help but wonder the cause.
 
bigcolombian Wrote:

because I took classes during
> my undergrad that covered a majority of the
> material in the CFA that I would be able to
> complete those sections with just a cursory glance
> at the material beforehand.


aaawwwwwww............... kids.
 
I have friends who completed MSc in Finance and easily passed L1, but not that easily L2 lol
 
JoeyDVivre Wrote:
-------------------------------------------------------
> Yeah, I studied 3 times as much for LII as I did
> LI.


I will second that!
 
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