heartbroken.....I am sure I failed, again. Do I have a chance at all?

Thank you sockruhtese for stepping up to the plate and letting us know that some people do fail Level 1 a few times but get through it.
And gunner21, what I find remarkable is that not one person so far has said they found the test easy or just average or even reasonable. Perhaps you are right…..I’ve seen forums in the past where people thought it wasn’t easy but not too bad. Those are not the comments we are getting here so far.
 
if I find someone saying the exam was okay I would probably send a complain to the institute proclaiming that he violates code of ethics! whoever bastards says that deserves it :D :D :D just kidding! valid point and hope u will be right gunner!
 
i was pretty happy with ethics AM session, i am pretty conviced that i can score more than 85% there. however econs QM and FRA were kind confusing. for the PM session i found it a llittle bit more difficult, however my approach was different as i skipped questions that i didn’t really comprehend well (around 7questions) but in the end, i ended up bombing them as i didn’t have enough time to refocus and think about these questions. (guess it’s better to fill all the answers as we go anyway)
I am not 100% confident to pass but i think i will have a chance to pass.
i did 6-7 sets of mocks (AM and PM)
2011,2012,2013,2014 CFAI + 2 schwesser and Qbanks, it helped a lot.
 
Same here, dont ask me how my paper went. I was scoring mid 80s on cfai mocks and on schweser. I found the AM session extremely difficult, but PM was quite easy. Am 25 wild guesses and on PM 13 wild guesses.
 
FrederickF, where did you get the CFAI mocks from previous years? That would be helpful
 
Haha don’t worry guys. I made sure two other people failed. Two idiots forgot to bring their calculator that day and after the morning exam was finished they ran up to me to ask me if they could borrow my calculator for the afternoon portion.
This is what I said and did.
I laughed out loud and then said. ”Thanks for lowering the MPS idiots.”
Anyways, I think I literally killed FRA and didn’t miss a single point…fixed income on the other hand…I really wish I spent an hour or something going through my notes I missed a lot of easy ones.
You’ll be fine monkey. LIfe goes on. I failed last time in December with a band of 10. You know what was the worst part of that? Is that we got our results the day before Chinese new year. So do you know how uncomfortable it was to tell everyone, your entire family and extended family at the dinner time while celebrating the first day of Chinese new year that you didn’t pass.
That was really a serious blow. But I got over it, moved on and I was like the San Antonio spurs this year…SEEKING REDEMPTION!!!…
If you don’t pass just keep going at it…it’s a marathon man not a sprint.
 
geo wrote:
You’re done. Wait for the e-mail. If you pass, then great, roll on. If you fail, you should probably stop wasting your time. Level 2 is an order of magnitude harder and if takes you more than three attempts at level 1, including giving your all, you’re highly unlikely to ever finish. You’re already in an very very long shot position where you stand today.
Best of luck though, I honestly hope you get through (from a guy that failed along the way).
Click to expand...
I’m with Geo on this one. The level 2 material looks so much harder that if you’re struggling on level 1, I can’t see how this is going to have a happy ending.
 
Ya I thought FI was bad and so were quants, but not as bad as econ. They threw everything and the kitchen sink at you during econ.
That said, monkey, keep your head up. I have finance major friends who failed with band 8s orlower. No one passes these things without serious leg work…unless of course you just wrapped up an MBA or your undergrad in accounting/finance. Anyone that tells you otherwise is bull shitting on the internet, or just born with a horseshoe up their ass. With that kind of luck, they should give up the CFA in lieu or becoming a professional lottery player. I have an econ background and I was stumped on a ton of concepts too.
What did you find was so hard about fixed income? DId you knew the key concepts? Tell me how well did you know these topics:
Duration measures
convexity
the different risks
the different yield measures
yield curves
dirty/clean price
capital gains
zero coupon/premium bond/discount bond differences
g/i/z spreads
OAS spreads
and credit ratings?
If you knew those major concepts like the back of your hand, there is no way you should have failed fixed income since that covers all the chapters in the CFAI books.
 
If it’s any comfort Monkey I got a bachelors in management (but did quite a few finance courses as well). I’m working as an investment analyst at a private company (no training there though had to train myself, hard.) and I found the exam difficult. I studied about 1200 hrs, scored around 78 on 2 schweser practice 1 schweser mock and 1 cfai mock. The concepts were ok but it was mostly the wording that I found confusing enough to trip me up. So having a finance background doesn’t really give u an advantage. But I try not to dwell on it now, if I keep worrying I’ll literally get depression. According to friends I talk to, (they’ve all done the exam) no matter how hard u prepare luck is always a factor. Doesn’t mean you dunno ur stuff. There are so many moving parts that anyone of them can have a huge effect on ur results. For example, in my case my cat who’s been with me for 12 years fell super sick 3 weeks b4 the exam and it took a fair amount of time and effort to nurse her back to good health. Not using this incident as an excuse but just that many things could trip up your studying during this period.
I’m not throwing in the towel yet even though admittedly it’s my first attempt. I’m planning my Dec study schedule and gonna try it again if I dun pass.
 
My friend, don’t give up. Like Fred, I too like you have done an insane amout of prep.
I went to a prep class, read books…
Did all the book problem, Schweser problem, and mock exams: 2009, 2010, 2011, 2012, 2013, 2014, and additionally 6 mocks from Schweser. And for all the mock, except Schwesser, I had done it twice.
And I too “am not 100% confident to pass but I think I will have a chance to pass”
 
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