What percentage of Americans could legitmately pass all three exams if they wanted to?

Finkid wrote:
former trader wrote:
I’m not saying it’s easy. But, let’s not exaggerate the difficulty either. The way some people talk about the exams, it’s as if they’re writing a physics, pharmacology or med exam.
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Imo, Lawyers, Judges, Doctors, Scientists, Engineers, Accountants, Professors etc. can all pass CFA exams if they want to— not all of them but most of them.
My elder brother who is a doctor used to tell me that medical studies is not rocket science hard but it’s grueling beyond belief. It’s like the CFA except that you have to study for 5-10 years continuously. Now Physics on the other hand is exactly rocket science hard.
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What pecent of the population do all those profeessions constitute? Surely less than 10%
 
former trader wrote:
geo wrote:
former trader wrote:
geo wrote:What really pisses me off is those people that say its easy if you put in the hours. I agree the material isn’t difficult, but putting in the hours is. Golf isn’t hard if you put in the hours, I’d be a tour pro if I put in 2,000 hours a year on the course and range. But I’m not a tour pro, now am I? If I put in 2,000 hours a year as a kid, maybe I’d be an NHL player. .
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I’m not saying it’s easy. But, let’s not exaggerate the difficulty either. The way some people talk about the exams, it’s as if they’re writing a physics, pharmacology or med exam. Now these exams you can put in the time and still fail just as you can put in the time on an ice rink and still not make the NHL.
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I completely agree that the CFA material isn’t as deep as many other programs, but I still think you greatly overestimate the ability of the majority of the population. Stroll into a Taco Bell in the US and I can guarantee that guy making your taco isn’t going to pass. That’s your median North American. You can’t just base it on your peer group, which is in the the very elite 1-2% of the population. I think many in finance greatly underestimate how elite their peer group is. It’s not NHL elite, fair, but it is less than 1% of the population.
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You must be confusing me with the OP. I never stated the guy making my taco would pass. If you have the 3 below, I can’t see how you can’t pass:
1) Having at least average intelligence
2) Having a business or hard science degree
3) Putting in more than the required hours on a consistent basis
Most of us taking the exams have the first 2. It comes down to commitment and discipline after that.
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when i mentioned walmart, i was referring to the customers, not the employees. THAT is the average american. I think we are often sheltered to what average really is
 
Vandelay Industries wrote:
Finkid wrote:
former trader wrote:
I’m not saying it’s easy. But, let’s not exaggerate the difficulty either. The way some people talk about the exams, it’s as if they’re writing a physics, pharmacology or med exam.
Click to expand...
Imo, Lawyers, Judges, Doctors, Scientists, Engineers, Accountants, Professors etc. can all pass CFA exams if they want to— not all of them but most of them.
My elder brother who is a doctor used to tell me that medical studies is not rocket science hard but it’s grueling beyond belief. It’s like the CFA except that you have to study for 5-10 years continuously. Now Physics on the other hand is exactly rocket science hard.
Click to expand...
What pecent of the population do all those profeessions constitute? Surely less than 10%
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Less than 10% combined, even in US? Wow! I thought they would be at least 30-40% of the US population since all the professions mentioned above require a bachelors degree as a minimum.
 
wow, i didnt know americans are so smart. 50% of the non-tax paying us population could pass CFA exams if they put stamina into it? jesus, are you writing this under crystal influence or what? the messages in this thread make me think this forum is detached from reality, but since i have just passed my L3, I shall not spend any more substantial time here…
 
Alexander James wrote:
wow, i didnt know americans are so smart. 50% of the non-tax paying us population could pass CFA exams if they put stamina into it?
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You didn’t understand Itera’s post. Reread it.
Hint: Where you put 50% in your sentence makes a big difference.
 
Stop it with this nonsense. The work is the hard part of anything. The work is the hard part of the CFA exam. The work is the hard part of med school. That’s the point.
Let’s take a real step back - there are 3 exams, the first two are entirely multiple choice, and you only need something in the high 60’s to pass, yet, L1 and L2 only have 45% pass rates, and even after weeding out the “weaklings” at thsoe levels L3 STILL HAS A 50% PASS RATE. The exams are freaking hard, and although a lot of people probably could do it, most don’t, and that’s the point of doing it.
As for the cirriculum being shallow - it appears relatively shallow to those of us who work in finance, but to say an engineer or IT professional, this is pretty deep finance. Relative to the entire field of medicine, med school is pretty shallow, but that doesn’t mean it’s not a huge accomplishment.
 
First, let’s conclude that the people who say shit like “with enough time, I can do xxxx” are typically losers who have not accomplished much.
Now, my honest opinion. CFA exams aren’t necessarily a test of your intelligence. As some have said above, one of the toughest parts is the immense amount of materials you have to go through resulting in hundreds of hours of commitment.
Now if you let some unemployed student who’ve graduated from university and has all the time in the world to study for the exam, he will pass eventually.
It becomes much more difficult if the person is working AND taking the exam, especially if he/she is working long hours (i.e. 60 hrs +) in finance field.
Lastly, this thread is stupid.
 
african americans, chinese americans, native americans, or european americans?
 
all hard tests require a time commitment. Im sure that with enough time, any of us could pass any exam in the world. You have to ask yourself, what test is so hard that no amount of time in the world would result in you passing?
 
igor555 wrote:
african americans, chinese americans, native americans, or european americans?
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male or female. straight or LGBT. Red state or blue state. IT guy or non IT (the last one is racist and offensive, i dont mean it, apologies, IT is a decent job, there’s no shame in being an IT, a friend of mine is an IT guy)
 
Most people in this thread are underestimating the idea of getting $10,000,000 to pass some exams. People would live on welfare while studying for the whole year. They’d sign $100,000 contracts to paid upon final completion for each exam their tutor helped them pass. I’m sure everyone here could teach someone to pass this exam if they were marginally intelligent and you had patience. I don’t think a college degree is required to pass this. So yea… I’d bet to say over 70% of Americans could pass. I’m not saying in three years, but they’d finish in their lifetime.
 
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