Hi all, just wanted to say that I failed L1 and plan on holding off til I have more time to study. Don’t beat yourself up, you learned a lot. I’ve been using all that I’ve learned at work and have performed better. It’s just a test, the knowledge is what matters.
Posted Apr 22, 2021, 6:26 PM UTC
Still pissed about it. But you are right
Yes. The average charterholder, the successful guys, write between 4 & 5 exams. It's a right of passage. Keep going.
With these tests, a big part of it is how you perform on test day. We all have bad days, testing by multiple choice can mess some people up - doesn't mean they don't know it. Don't let it define you.
Sometimes I wonder if the CFA program would be better served by partnering with undergrad universities or employers and making the program more streamlined with advisors/mentors. Make it more into an apprenticeship type program where people learn and apply the knowledge at the same time. In it's current form, it feels very isolated and if you're not working in roles that apply this knowledge some of the theory can be abstract.
Yeah studying for the CFA L1 concurrently with finance + accounting undergrad courses has helped me learn a lot. Only downside is the MPS being over 70% now.
I failed level 1 the first time I took it, and while it really sucked at the time, it really made me realize how much I needed to study AND develop a study plan. The material is just too hard to sit down and read through the textbooks, so I had to plan how I would schedule my study days: how much I needed to do each day, what proportion would be spent on readings versus problems, spending Saturdays doing mock exams following the same format I would on test day. And once it worked for level 1, I followed the same pattern for levels 2&3. Don’t let it get you down, you may have learned the material but need to change your study strategy.
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word. this needs to be said, with the exam being offered more frequently now, its not even much of a setback. study harder and pass in the second go around