Can I take level 1 exam without bachelors?

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918

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Hi first of all I would like to say hello to everyone on this board! I have been following the forum for a few weeks now and finally decided to join the board now that I have decided to become a candidate for the CFA program.
My first question on this board, which I know this topic has been beaten to death, is…
can I write the CFA level 1 exam this Dec 2009 when my graduation date for my bachelors is May 2010?
I know I can enroll in the program as a candidate in 4th year of my bachelors degree, but does it also mean I can take the first exam even while im still in my 4th year?
thanks
 
Yes. Check the FAQ please for a wealth of related questions.
 
Thanks for the quick replies I already checked the faq section of the CFAI website, it links me to requirements the enter the program (which is being in the final year of bachelors program to enroll in the cfa program), but didnt say anything about being allowed to take the level 1 exam before graduating…maybe Im just not clear with their wording.
 
I would advise against this, 918.
Senior Year should be about
a) Seeking that job you really want (which is going to take more time than normal in this environment)
b) Killing it (with your grades) for one last year with your Senior level stuff if you plan on going to grad school
The first job out of college is like a stepping stone. Just learn another language or pick up another major if you are dying to gain more knowledge - that’s what I did.
 
I was under the impression you could enroll while a student but couldn’t actuall write it untill you graduate. You should double check CFA website to be sure or call them.
Even though this could put you ahead of many people. Think about this:
You write it in Dec 2009 and pass. Do you enroll for level 2 for June 2010?
Can you handle your 4th year university exams and have little time left to prepare for level 2? Level 2 isn’t a joke, it’s harder than level 1 for sure.
 
Also, you won’t get a charter w/o 4 years relevant work experience. In this economy, you might want to concentrate on that.
 
I appreciate all the replies everyone. My status is 4th year for my program, after summer semester I have all the credits done except for one course which is a requirement for my program. It is only offered in the spring session of 2010. So in terms of being able to handle it I will be fine as I will not be taking any classes in fall 09 semester and only 1 course in spring 10 semester (still not sure if taking level 2 in june 10 but if I do decide to, my workload for school shouldnt be a problem)
As for grad school, I am not planning of applying right after my bachelors. My plan was to gain valuable work experience, and possibly obtain (or atleast finish the exam portion) of the CFA program and in a couple years try to get into a good mba program (since my undergrad GPA isnt the greatest).
 
kblade Wrote:
——————————————————-
> I was under the impression you could enroll while
> a student but couldn’t actuall write it untill you
> graduate. You should double check CFA website to
> be sure or call them.
Ya that was my impression too, but I could not find a definate answer on their website. Ive asked on another forum before and people have said that it is allowed ( they have taken level 1 exam before graduating, but they are not allowed to take level 2 exam until the graduate). I also sent them an email but I am expecting a couple days to get a reply. Was hoping that someone on here new the answer :)
 
918 Wrote:
——————————————————-
> As for grad school, I am not planning of applying
> right after my bachelors. My plan was to gain
> valuable work experience, and possibly obtain (or
> atleast finish the exam portion) of the CFA
> program and in a couple years try to get into a
> good mba program (since my undergrad GPA isnt the
> greatest).
If your undergrad GPA isn’t the greatest … get a 4.0 this year
I wasn’t implying going to get your MBA right after undergrad … I was implying that to get into a top MBA school you have to have a good undergrad gpa.
 
Philip, he can’t get a 4.0 this year. He’s only taking 1 course and it’s in Spring 2010 to finish his degree. He’s going to have SO much time for the Fall Semester.
 
I apologize for my post not being very clear. What I was trying to get at was that after the summer semester I will have all but 1 course left to complete my degree. So I dont think that studying for the CFA will have a hugh impact on my grade for the 1 course, let alone my entire GPA throughout my 4 years. My GPA is good, it just isnt great (4.0) but thats another topic.
 
you can write cfa without undergrad but cant write level 2 without.
It was pointless of me to register for level 1 and pass it when I found out you cant register for level 2 without a bachelors. (called CFAI to confirm this)
As for Level 1 and grades, I suggest both. It shows dedication if you can do both and potential employers love that even in a downmarket.
 
Thanks for the reply, thats good news that I can write level 1 before I obtain my bachelors in May of 2010. And if needed be, I will have my undergrad just before the exam 2 exam in June.
Just curious jo_l, what did you mean pointless for you to write level 1 before you got your undergrad? you must have had your bachelors or close to completing it by the time you needed to take level 2? because a requirement to even be able to become a candidate is to be in the final year of undergrad…
 
918 . . this is the most odd situation I have heard of - - why don’t you just take the 1 remaining course at another institution that offers it and get your dean to sign approval for your diploma?
 
Phillip, I agree, this has been very inconvenient for me, as I will only need that one course to graduate after August. Thank you for suggesting that idea, I thought about seeing if another institution offered the same course thats transferable but then I realized that even if I took it in the fall semester, I would not complete the course till Dec. My university has convocations twice a year, May and Nov, so even if I complete it in the fall semester I will still have to wait till May to officially graduate.
 
918…what jo_l must have meant is that you cannot even REGISTER for the second level exam before you have your undergrad degree. So it is not like you can pass the Level 1 exam in December of your final year, and then register for the second level in June… because you won’t have your degree yet when you register!
 
drgonzo Wrote:
——————————————————-
> 918…what jo_l must have meant is that you cannot
> even REGISTER for the second level exam before you
> have your undergrad degree. So it is not like you
> can pass the Level 1 exam in December of your
> final year, and then register for the second level
> in June… because you won’t have your degree yet
> when you register!
ahh I see, thanks for the clarification. Hypothetically speaking, I think I should be able to take exam 2 in June 2010. I register now for CFA program, and sign up to write the Dec 2009 Exam 1. After passing exam 1, I will not be able to register for exam 2 immediately. However I can prepare for exam 2 (assuming I can gain access to the curiculum) while I complete my final undergrad course. I graduate in May and therefore am now eligible to register for exam 2. Assuming I have been preparing for exam 2 ever since after Exam 1 and feel ready to write it, I can register just in time for Exam 2 a month before the test date (at a higher fee i believe) and take exam 2 in June.
 
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