What do I do now

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confused2010

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Following is my situation.
Less motivation after first failure at level III. failed level II twice, but not as demotivated
Second daughter born in sept this year. love playing with both daughters. not really inclined to study.
started in nov,with Behavioral. got bored. moved to Individual. used CFAI, then schweser.
Did some EOC , watched some videos. In short Study is all over the place and i am in the midst of shifting my place of residence which is keeping me busy.
A collegue who passed this year, suggested his new method which is do EOC, past papers CFAI and Schweser mock exam questions topic wise and not waste time reading.
His logic being, when u read the solutions you will understand the subject matter better than just reading text. So he told me to use only past CFAI mocks, all 6 schweser exams and CFAI EOC.
Now I am in a quandry. i have always read study notes, done EOC and after completing the curriculum, i have reviewed and finaly attempted mocks. It didn’t quite work for me at level III and effort too was lacking for sure.
I am sure i failed because i didn’t study as hard. Now I am not sure my method employed so far will work at level III.
Is the method suggested by my friend workable? It did work for him.he failed twice before passing using the new method. Not sure If it will work for me hnece the quandry. has anyone used a similar method and passed.
I can (hopefully) devote 15 hours a week starting last week of december. ramp up the hours in april , may.
 
I would advise on tweaking your approach a bit:
  • All EOC
  • All BB
  • Past Mocks (BOTH AM + PM): Most focus is on the last 10-years of mocks (2003-2013). I also did the mocks in the 90’s, but ONLY select, relevant questions for practice.
Do this 3x. Yes, 3x. 1x is not enough unless you have a photographic memory.
I will almost guarantee you that you will not have enough time to get through all this; therefore, skip Schweser. If you get done with this, then do Schweser mocks. Of course, more practice the better, but generally the Schweser mocks aren’t great and can be harmful since the format and language of the questions can be quite different from CFAI.
With anything in life, it’s all about prioritizing and investing your time that will provide the best return, so we must be strategic.
 
Blanka_CFA
YEs i was considering BB as awell but thought i wouldnt be able to complete the curriculum given the time time frame. I am leaning more towards this approach rather than reading the curriculum. i simply do not have that kind of time. 3x sounds prudent. dunno how i will be able to do.
So instead of pondering, Starting right away.Today. will see how it pans out.
former trader


Thanks. I used to exercise but have stopped since the last many years. Liked and practised Yoga and Pranayam.
 
This quote helped me when I lost motivation to study for L2:
“If you don’t conquer self, you will be conquered by self.” - Napoleon Hill
I hope it helps you, too!
 
Update
Studies going nowhere nor am i exercising. Started studying again today.
 
Hmmmm…
Don’t look for shortcuts. If you have a solid understanding in all topics and were very close to passing, then maybe this method you discuss will work. Do you have an undergrad in finance? Masters in Finance? Is all the material a review for you?
The BB don’t really provide enought depth in my opinion to teach the material. What you may want to do is the Schweser Notes, and BB, and CFAI EOC. THen CFAI 2012,2013,2013, plus Schweser Practice exams.
If you’re just going to try to skim by, maybe just skip it this year and come back to it in a few years after your kids are bigger. Unless, you need to pass it for work. My son is 6 and it doesn’t get any easier to find time to study…I think it would be easier when they are small, because they at least can’t say “play with me”…haha.
If you put in full effort last year and didn’t get past it…then it probably will be more difficult if you put in less effort this year. I crashed last year myself, and doubling my efforts this year.
 
post your fail email from L3 on your fridge or somewhere you can see it everyday. that should motivate you
 
cgrady40 wrote:
post your fail email from L3 on your fridge or somewhere you can see it everyday. that should motivate you
Click to expand...
i’m doing this now. sigh.
 
Well, one thing to consider is that now the material is fresh in your mind.
You might think that you have forgotten alot of it but most of it is still there, it just needs to be reactivated. Just start to study and you will see.
This passive knowledge in your brain is an asset that depletes as time passes, so you will remember less next year, even less in 2 years and so on.
If you are not motivated, however, then it’s useless. You need to figure out for yourself if you have it in you this year. And figure it out quickly, time is running out.
 
I need a perspective from other Level III candidates or actual CFA charterholders. I am substantially older (in 40s) and passed Level II back in 2001. However, since my professional background centered on the “sell side”, I skipped out on taking Level III as I perceived it more pertinent to buy side jobs. In the meantime, I have gone to law school and acquired a law license and CPA. I possess extensive experience in fixed income–primarily in structuring municipal bonds and mortgage backed securities and in regulatory compliance (think SEC, MSRB and FINRA rules).
While obtaining the CFA charter will not lead directly to a job promotion nor raise, the charter is valued by my industry given the time, effort and difficulty of acquiring. But given my age, I feel my work experience would “trump” the value added of possessing the credential. However, having said that, I have felt that I had “unfinished business” given I started this path well over a decade ago in 2000.
So, any thoughts on whether I should continue and whether it is too late to realistically expect a pass? If I were to prepare for the June 2015 sitting, I was planning to take the USC preparation course offered in the L.A. area. Has anyone had any experience with this course for Level III? Is anyone in a similar situation with any sage words of advice?
Thanks in advance!
-Mired At Level III
 
What’s BB and where can I find old mock exams? Thanks in advance for the help!
 
BB is blue box example in the CFAI books. The old exams for past 3 years can be downloaded directly on the CFA website. Login to find them.
Mired At Level III
I took off about a decade before attempting level 2. So not quite your exact path. If you’ve got 4 hours every night between here and early June…That is the real question.
 
Storlab, how old are you buddy (no offence), I am 39. You took a decade off to come back , that’s commendable.
 
Register for LvL3 after you digested all the theory material and then do mocks, enjoy your life and study at your own pace.
 
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