popchampagne
New member
- Jun 18, 2026
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I’ve been reading a lot of posts on AF today about those who failed, and talking to others at work who have taken L3 more than once, and failed miserably every time.
It made me wonder how people smart enough to get through both level 1 and level 2 could consistently perform so poorly at level 3.
Then the answer hit me – level 3 is not just about crunching numbers and memorizing ratios. It’s primarily about communication….you need to be able to take the geek speak and truly understand it in a way where you help a lay person make sense extremely complex topics.
From the 12 years I’ve spent in the industry, I can tell you that most analysts I’ve come across are horrible communicators. Most of them sit in cubicles all day behind closed doors and pound away at excel spreadsheets. If you ask for a simple answer to a quesiton, you get a dissertation with a bunch of fancy words instead of a direct answer.
If that sounds like you, that may be why you keep failing level 3. Strong communication skills are a must at this level, but were not needed for level 1 or level 2 (clearly). It’s somewhat unfortunate that CFAI waits until level 3 to test this skill, since it’s obviously integral to obtaining the charter.
Take solace that you passed Level 2, which is a massive achievement in and of itself. At this point though, if you’ve failed level 3 multiple times it may be time to give up your pursuit of the Charter. There is much more to life than passing a test.
There is no shame in coming this far and then deciding that your family and friends are more important than than the Charter.
It made me wonder how people smart enough to get through both level 1 and level 2 could consistently perform so poorly at level 3.
Then the answer hit me – level 3 is not just about crunching numbers and memorizing ratios. It’s primarily about communication….you need to be able to take the geek speak and truly understand it in a way where you help a lay person make sense extremely complex topics.
From the 12 years I’ve spent in the industry, I can tell you that most analysts I’ve come across are horrible communicators. Most of them sit in cubicles all day behind closed doors and pound away at excel spreadsheets. If you ask for a simple answer to a quesiton, you get a dissertation with a bunch of fancy words instead of a direct answer.
If that sounds like you, that may be why you keep failing level 3. Strong communication skills are a must at this level, but were not needed for level 1 or level 2 (clearly). It’s somewhat unfortunate that CFAI waits until level 3 to test this skill, since it’s obviously integral to obtaining the charter.
Take solace that you passed Level 2, which is a massive achievement in and of itself. At this point though, if you’ve failed level 3 multiple times it may be time to give up your pursuit of the Charter. There is much more to life than passing a test.
There is no shame in coming this far and then deciding that your family and friends are more important than than the Charter.
as well as generate the energy you’ll need again next year.