Who else is sick of explaining what the CFA is to family and Friends

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afo0257

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Am I the only one sick of trying to explain what the CFA charter is?
My family and friends keep asking questions like
1. Is it like the CPA?
2. HOw come only 35% people pass?
3. Will it get you more money after completing level 1?
How do the rest of you answer these questions?
HOw is everyone coping with the anxiety of waiting for the results?
 
Not just the family man, everyone else. People are only familiar with the CPA for some dubmass reason.
 
It’s not just people who compare it to the CPA, it’s people who immediately think that it’s like a Series 7 or something where you need it to meet regulatory requirements just because it contains the word “Chartered.”
Can’t tell you how many times I’ve told someone that it stands for Chartered Financial Analyst, and the pass rate is 35%, and the first thing out of their mouth is “That’s stupid. Why even do it if only 1/3 people pass?”
 
Yeah I’ve been asked so many times I’ve just given up. I just say “basically an equvalent to an self-study MBA with a central focus on finance”… and they just laugh or look bewildered.
 
I know it’s been said before but I hate explaining it to people, tell them how much time I’ve invested in studying for LI so far, and have them respond with “whatever man, you’re smart, you’ll definitely pass”…. Makes me so mad that most people don’t even understand.
 
i was talking to a friend and she said exactly the same thing “i know i will pass”
i said “i hope so”, “dont hope, say that i will pass”, i had to tell her that i have flunked it once and then i believed “i will pass”
 
i was talking to a friend and she said exactly the same thing “i know u will pass”
i said “i hope so”, “dont hope, say that i will pass”, i had to tell her that i have flunked it once and then i believed “i will pass”
 
No matter how many times I correct people it will always be called “CERTIFIED financial analyst” among family and friends.
 
dumbass: why are you studying so much, I think my cousin/friend/dog walker/[INSERT NAME HERE] took the same thing and passed after studying for only a week..
me: um don’t you mean series 7?
dumbass: yeah isn’t that the same thing?
me: sigh - sarcastically yeah it’s the same thing [shaking head]
dumbass: bewildered look
 
I don’t tell anyone anymore. Let the dumb fucks be content with their $40,000 and then scratch their heads in bewilderment when they can’t make mortgage payments.
I’ve taken so much heat for studying for this test and having to bail on friends. I’m sick and tied of the haters.
 
bailing on your friends? if they were really your friends they would encourage you to better you life…and if not, f’em
 
Yeah, I’m just starting for June, so I’m just starting to hear all this stuff for myself. I live in Canada so I don’t get the CPA or series 7 comparisons, but that doesn’t make people ask smarter questions.
Results I’ve got so far:
-You’ve got a finance degree, this should be a walk in the park for you!
-You’re smart, you’ll pass for sure
-35% pass rate?!?
Best one, from my dad who has a CFA:
-Well you’re smart and a hard worker- you should probably pass… if you work hard.
I’m not cancelling plans yet to study, but that’ll happen soon, so I’ll take a lot of heat over it I’m sure. Considering how tightly strung I’m likely to be at that point, I can totally see some me snapping on them, haha
 
Haha, I wanted to post this same topic the other day. I was wondering how other people explain the CFA to the unaware.
I get all the usual ones too:
“You did so well in college, this will be simple for you.”
“So, it’s like the CPA?”
“If you are taking a test, why aren’t you ever in class?
It’s a self-study program.
So, you just read books and that’s it?
…..”
 
“Why do you want to be a stockbroker?”
Um, no, that is exactly what I don’t want to be.
 
It gets worse:
Me: I need to start studying again.
Friend: I thought you had already passed.
Me: That was Level 1, there are two more levels. The pass rate for L2 and L3 are approximately 50% each.
Friend: So it gets easier then?
Me: Sure (said sarcastically). Look, I’m going to be pretty busy for a while so I’ll see you sometime next month.
 
mzwerner Wrote:
——————————————————-
> dumbass: why are you studying so much, I think my
> cousin/friend/dog walker/ took the same thing and
> passed after studying for only a week..
>
> me: um don’t you mean series 7?
>
> dumbass: yeah isn’t that the same thing?
>
> me: sigh - sarcastically yeah it’s the same thing
>
>
> dumbass: bewildered look
haha - exactly
 
Trogdor Wrote:
——————————————————-
> That’s scary part.
Love the name. I used to spend hours watching Homestar Runner. I miss college…
I let an entire CPA conversation go on the other night after I took LI. My friend kept comparing the CFA to the CPA and how hard the CPA is b/c her sister failed a couple of the sessions. Then, her mother-in-law chimed in about how tough the CPA is (her husband is an accountant). I just sat and let it happen, b/c I didn’t have the energy/desire to correct them.
My mother-in-law is the worst, though. She called my husband last Thursday to ask if I was “cramming” for the test on Saturday. Right.
 
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