Who's gonna retake?

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Greenman72

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Since we’re still six weeks away from results, I figured I could start this without pouring too much salt into open wounds.
Assuming things DON’T go your way on August 6th, who’s going to re-take the exam? Who will just let that sleeping dog lie?
I, for one, will NOT retake the exam. Why?
  • I put in over 600 hours of study. If I can’t pass with that much study, there’s no reason to believe I can ever pass it.
  • I have an almost 2 year-old and another on the way. If I’m going to spend a few hundred hours away from my family, it better be to “really” further my career–not take a test with little real benefit and little relevance to real life.
  • My job is getting more difficult, with more stress and more hours.
  • As a tax accountant, I’m not sure that I’ll ever get any benefit of the CFA charter anyway.
  • I live in a remote area, Dagobah, where there is no CFA society and most people don’t even know what CFA stands for. (“Isn’t that a ‘Certified Financial…Advisor?’”)
  • I’m just freaking tired of studying. Went straight from MBA to CPA exam to CFA exam. I’ve been studying for something for seven years now.
  • I’m already a CPA, so it’s not as if I need this in order to find a job.
I may change my mind someday in the future if I move to NYC, or some other place where the CFA is seen as an asset. But for the forseeable future, 2013 Level 3 was my last hurrah. Won’t be retaking anytime soon.
 
I have put +600 hours last year and I failed .. Guess what? I re-took this year.. Why? Because it get’s easier to study since you already know most of the material however you change your approach. If i fail again this year, I WILL retake again, why? because I like to end things which I have started. Hell even if it takes me 10 times, I will not quit until I finish this challenge.
 
Bilal
Capt. Save_A_Ho

You guys are far from rational. But that’s what I believe is the point of being on this earth. And it’s in human nature. The greatest victory is over yourself.
 
^ We are far from rational because we don’t give up if we fail? umm seriously?
 
Bilal wrote:
Hell even if it takes me 10 times, I will not quit until I finish this challenge.
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Hell yeah. This is called insanity. And I would do the same thing.
 
I failed last year and took it again. If I fail again, I will take it again. I will not have wasted my previous 3 years in vain I will learn from my mistakes and know the material even better. My approach and performance on exam day compared to last year was like night and day. I knew what the game plan should be on the AM and I finished, which I didn’t last year. I approached my study differently and the material came much easier because you retain a lot of the concepts. If I don’t pass this year it will be because I didn’t know the material absolutely cold and a few sections hit on my weaker areas. But I am confident those will be eliminated by next year. Having said that, I’m hoping that I passed ha
 
Bilal wrote:
Hell even if it takes me 10 times, I will not quit until I finish this challenge.
Click to expand...
That’s the spirit! You know what they say, “Winners never quit, and quitters never win!”
But those who never quit AND never win are idiots.
 
when I was preparing for L2 I had said THE exact same thing to my girlfriend, I would really never retake the exam if I failed… For Level 3, I don’t know because material isn’t so big and when I can see end of the tunnel… can’t say anything… but lets hope we pass… :)) usually passing rate in this forum is quite high…
 
I can see people quitting if they fail Level 2. I have to believe the beast that is Level 2 kicks out far more than Level 3. Heck, I told myself if I couldn’t pass Level 2 after 3 tries, I was done (failed it once).
By Level 3, you KNOW you can do this. IMO Level 3 is easier than Level 2, or at least the same as Level 2, and I know alot of others agree.
That being said, alot of us like me now have a child, which were not around during the first 2 levels. An added dimension of priorities. And if you aren’t in the investment world and are doing this for some other reason (OP?) I can see people walking away.
Still, what is the point of quitting now? All the months and years of studying down the drain. Nothing to show for it but a couple thousand bucks you paid to be miserable.
I will give myself 5 tries on Level 3, although I hope I only need one
 
Nobody would let me quit. And I had plenty of opportunities. Not my wife. Not my boss. Not my kids. And therefore it never really was an option. Although I told a lot of people that if I did not pass L3 this last time, that would be it. But when push came to shove, I probably would have signed up again.
 
I will definitely retake once. Beyond that who knows. Depends on circumstances.
 
Ivan Drago wrote:
Bilal
Capt. Save_A_Ho

You guys are far from rational. But that’s what I believe is the point of being on this earth. And it’s in human nature. The greatest victory is over yourself.
Click to expand...
You very well know that you need to perform some kind of analysis to determine whether a decision is rational. You need to look at some break-even/ marginal cost & benefit/ monte carlo analysis or something like that!
 
Am I the only one that had never heard of Dagobah before, and had to Google it to see what it was?
I won’t play an assumption game based around failure though. The power of positive thinking!
 
I dont see any use in quitting now. Could have/Should have done that at Level 1, not now!!
Whats the point in swimming 67% of the sea and then saying I am tired and going back. Going back you actually swim 67%, instead of the 33% in front of you.
 
sooraj wrote:
I dont see any use in quitting now. Could have/Should have done that at Level 1, not now!!
Whats the point in swimming 67% of the sea and then saying I am tired and going back. Going back you actually swim 67%, instead of the 33% in front of you.
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first u do not have to swim the 67% of the way back should u quit…
why so much negativity in here…god we should be positive! i really cannot fathom another 1/2 yr of studying. there is much better things to do!
 
So much negative? I am saying I am being positive and will take level 3 if I have to :)
Yes we dont have to swim 67% back, but we would have to answer a few queries everytime our resume says “Cleared Level 2 of CFA exam” as to why we didnt appear for Level 3!!!
 
Not sure, I would be in a different country and hopefully in a new company.
 
sooraj wrote:
So much negative? I am saying I am being positive and will take level 3 if I have to :)
Yes we dont have to swim 67% back, but we would have to answer a few queries everytime our resume says “Cleared Level 2 of CFA exam” as to why we didnt appear for Level 3!!!
Click to expand...
positive as in anticipating that L3 will be passed…
just say circumstances like family or better things to do etc haha
 
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