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GMATClub's Unofficial Chartered Financial Analyst thread

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GMATClub's Unofficial Chartered Financial Analyst thread [#permalink] New post 30 Apr 2008, 07:00
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I was wondering if you could provide any tips in terms of study schedule, prep materials, tips etc.

Thanks in advance.
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Re: Has anybody taken/passed the CFA level I? [#permalink] New post 30 Apr 2008, 08:04
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kidderek wrote:
I was wondering if you could provide any tips in terms of study schedule, prep materials, tips etc.

Thanks in advance.


I'm a CFA Charterholder and co-director of a mentor program for CFA Level I Candidates in SoCal. I'd be happy to talk offline. If you pm me, we can set up a time to chat.


Nevertheless, here are some general comments:


1) Ethics - read the book (not Schweser, although the problems are good). Read it once at the beginning of your study and once a week before the exam.

2) Practice Questions - do as many as time will allow. At the very least, after finishing a reading, do the questions in Schweser. While I find these aren't always as tough as the CFA Reading questions, you have to assure yourself some level of material comprehension before you move to the next section. If you aren't getting any questions right without referencing the book, don't move on.

3) Practice Tests - there are 3 full length tests in the Schweser book. Take at least one of these during a timed simulation. That means six full hours, with a 1-2 hour break in between morning and afternoon sessions. Ideally you would take the test on a Saturday (two to three weeks prior to the real exam) and go over the answers on Sunday. Also, at the very least, answer all of the questions in the other 2 sample exams. Doesn't necessarily have to be timed, but do the questions. You'll also have to take the Boston Society Mock Exam. This is VERY VERY VERY important. Take it under simulated test circumstances. It will show you your weak areas and is the BEST gauge of your progress to date.

4) Schweser Pro - very useful. Provides high level outlines of the study sessions. You can also do as many questions at a time as you like. You can also choose which sections you would like to get questions from, as well as the difficulty level. I spent a good amount of time on this a couple of weeks prior to the exam. Also good If you are having trouble in an area, this is a good way to get a bunch of questions thrown at you to make sure you fully understand the material.

5) Review - when you take the exam, you'll be thinking, "I wish I had just a little more time to study." That's always the case, whether you are studying for 3 months or 6 months. You have to give up the last 2 weeks minimum for review. 3 is ideal. This doesn't mean all you do is test questions for 2-3 weeks. But it means that you are not "learning" the material or seeing it for the first time.

6) Ethics - don't underestimate this. The material is easy to understand, but not a slam dunk on the test. It was killer at all three levels, and I have probably read the book 6-7 times in total by now

7) Study Schedule - It varies from person to person, primarily because of education background and work experience. I can talk more to your spefically to your case offline if you like. In general, I'd say CFA Institutes provides a rule of thumb of ~250 hours. For people without finance/accounting backgrounds or without MBA's, I'd say add another 50+ hours to that. Overall, I'd recommend ~4.5 months of studying and three weeks of review. That means if you are taking the test in December, you should begin studying in July and review for ~3 weeks in Novemeber. You need to be disciplined and keep up with the study schedule. You should be studying about 10-15 hours a week. In my opinion, it's kind of like working out. If you miss a couple days it makes it harder to get back in the routine. Once you get going, though, it's pretty easy to keep up with a constant schedule.

Bottom Line: Stick to a regimented study schedule. Practice, practice, and then practice some more. Although ethics is 15% of the exam it's not a gimmee. That being said, make the most of it. There are 240 questions. You'll need as many as you can get.

Cheers-
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Re: Has anybody taken/passed the CFA level I? [#permalink] New post 30 Apr 2008, 14:43
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Irishfan wrote:
Specifically, are there any review materials that you'd recommend? Also, generally speaking, which courses would you recommend for Level 1 prepwork?


The source "reading materials" are now included in the cost of taking the exam, so you will have the actual CFA curriculum . Many people tend to find this a bit dense. To supplement (NOT replace) your studying, I'd recommend the general studying materials, in order of importance:

Boston Society Practice Exam - this is the best 6 hours of studying you can possibly do. You should not take the real thing without having completed this.

http://www.bsas.org/pe/

Schweser Study Notes - Included with this is something people usually refer to as "Book 6." There are five "Cliffs Notes" types of books that summarize the CFA curriculum and the sixth book has three practice exams. It's very important to answer all of the questions in Book 6. Ideally you take 1-2 of these in a simulated environment, and at least go through the rest of the questions (not necessarily timed). Even if you don't use the Schweser Notes, Book 6 is extremely important to get a lot of questions under your belt. The Schweser Notes also have questions at the end of every section, so it's another way to get more practice and test your comprehension.

http://www.schweser.com/products/produc ... egory=NOTE

CFA Institute Practice Exams - I believe two of these are now included when you sign up for the test. They are great to take because they are straight from the source. CFA questions are always slightly different than any other practice test you will see. Depending on your comfort level, you can pony up another $50 for each extra test (up to 5 total, I think). 1-2 extra should do you well.

http://cfainstitute.org/cfaprog/resourc ... ample_exam

Schweser Pro - If you have some extra time or need additional help. This is a CD question bank with ~2000 questions. It's great to work on some of your weaker areas as well as create mini tests.

http://www.schweser.com/products/produc ... CHWESERPRO

These items can start to add up (but hey, it's all relative), so you need to pick and choose, and it depends on what your comfort level is 6 months out, 4 months out, 1 month out, etc. Schweser usually does package deals that can save you a little $$$ if you buy items together.

If/when you get serious, let me know 5-6 months in advance, and perhaps we can work out a study schedule based on your time commitment/availability so we can best prepare you.
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Re: Has anybody taken/passed the CFA level I? [#permalink] New post 30 Apr 2008, 09:28
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Irishfan wrote:
RG, I *almost* signed up in March to take it in June, but I didn't think I had enough time to learn/re-learn all the required material. I'm leaning pretty heavily toward a career in IM, and the CFA seems to be a necessity.

Given my background (BA in Acct, MS in Acct, CPA, public accounting/financial consulting), the course load at the GSB, and the relevant timeframes for internship/full time offers, when would you suggest I go ahead with Level 1? Is December a reasonable goal, or would you recommend pushing it back until next June? Also, how much more beneficial is passing Level 1 in terms of getting an internship/full time offer, as opposed to just being a "candidate?" In other words, of course passing the exam, as opposed to being in line to take the exam is preferable, but is it a deal-breaker?

Obviously, I'm not very familiar with any of the timing or hiring nuances associated with the CFA...any comments or advice would be greatly appreciated!



Your situation is very interesting. The main challenge that I see for your Level I prep is the logistical issues.

1) If I recall correctly, you're heading to GSB. If that's the case, the CFA exam in December will be taking place near final exams and during recruiting/schmoozing process. I really don't know if you want to tack the CFA on to your schedule.

2) Thinking ahead (as this is a challenge that I discuss with me mentees that sit for the December exam), Level II is offered only 1X per year, in June. I believe the CFA Institute has streamlined the results process a little bit since I took Level I, but the results are released in mid to late January. That means, if you pick up your study materials on February 1 (just to be conservative), you will only have ~3.5 months + 2 of weeks for review to prepare. While this may be enough given your background (see more below), again, with your school situation, I wouldn't recommend this. Level II separates the men and women from the boys and the girls. The pass rates are trending downwards and reaching historic lows. Once you pass Level II, it's just a matter of time until you become a Charterholder. But until you do pass Level II, it's still up in the air.

Speaking from personal experience, I took Level I in December 2004. I got the results around the Super Bowl, in late January. I intended to sit for the exam in June 2005, but once I saw the materials, I nearly **** a brick. I knew it wasn't going to happen for me. With the exams offered only once per year, I didn't want to put in 200+ hours and not have it work out for me. That would have been too painful. Just to finish my story real quickly, I started studying for Level II in December 2005, passed in June 2006, and passed Level III in June 2007.

3) At the end of the day, it is really important to be sure that you want to go the investment management route. That is really where the value and appreciation is (from a $$$ and hiring perspective). At GSB, I think that you will definitely have the opportunities to move directly into IM during your internships and full-time recruiting process. Once you get in the door, I think you can then start on the CFA. OK, I just checked your profile. You are 26. Let's say you are 28 when you finish GSB and then take Level I in June 2011 (we'll add a year just for some leeway). Assuming all goes well, you'll be finished with CFA, an MBA from GSB and three years of IM work experience at the ripe old age of 31. W-O-W :good


-ryguy

PS Not to put the cart before the horse, but you will do very well with the Level II exam. It is ~40%-50% financial statement analysis (CFA Institute lingo for accounting). That includes things such as foreign currency translation, purchases through equity/pool method, pension accounting, deferred tax liabilities, etc. As I understand, these are intermediate topics discussed in accounting courses. As someone averse to all things accounting, I had never heard of these things, so Level II was a major challenge for me (I put in ~300-350 hours, if I had to guess).
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Re: Has anybody taken/passed the CFA level I? [#permalink] New post 30 Apr 2008, 10:18
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IHateTheGMAT wrote:
ryguy,

What schools did you apply to? Are you currently working in (or looking to get into) equity research? I'm taking CFA Level II in a month and looking to get into equity research post MBA (applying fall 09). I'm hoping that if I can get the CFA before I start school that will give me a boost in recruiting for asset management jobs. I work in business valuation so I'm pretty sure my work experience will count for the charter.


post414035.html#p414035

I have more of a corporate finance role and am looking to switch to research/portfolio management. I can make the switch without an MBA (in fact I was offered a sweet sell-side distressed debt research position in March, but turned it down), but I know that I need/want the MBA for the long haul. I'd like to think that the CFA helped my case (my GMAT isn't exactly off the charts at 680), but my interviewers (both of which were with adcom) at Kellogg and Marshall didn't *really* know what the CFA was. This saddens me like you wouldn't believe. That being said, that could be why I kept myself in the running at some schools without simply being summarily dismissed.

I hope you take care of business and smoke LII in June. Once that is done, I'd focus solely on your GMAT (and essays) as opposed to Level III. Also, apply in Round 1! I don't think there is any real discernable difference between a LIII Candidate and a Charterholder for application purposes. Furthermore, for recruiting, if you want to go straight to IM, companies will "get" that you are working your way there. Again, I don't think they would show any discernable preference for a LIII Candidate v. a Charterholder.


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Re: Has anybody taken/passed the CFA level I? [#permalink] New post 30 Apr 2008, 12:51
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sm332 wrote:
ryguy -

What are your thoughts on the following:

1. Utility of CFA as a way to demonstrate interest in Finance for those with no direct work exp?
2. Whether it actually opens doors for those from other fields (immediate career impact)

thanks for indulging me.



1. I would say passing Level I demonstrates a VERY strong interest in investment management, which is slightly more specific than "finance." However, the reason that I differentiate is because it matters! If you are interested in corporate finance, budgeting/forecasting, treasury types of roles, CFA won't help too much.

2. It depends on your current job and how big of a transition that you are trying to make. If you are trying to make a career switch from marketing to IM, that's going to be extremely tough, even if you pass all three levels. That's where the MBA becomes important. For example, one of the Columbia students that I became buddies with is transitioning from marketing to sell-side at Morgan Stanley when he graduates in a couple of weeks.

2a. Here's a story about a guy that I mentored and am now friends with. He passed Level I in December 2007. He was only a year out of college and was having zero luck landing ANY kind of job in IM, whether it was operations, research, or whatever. At the time of him passing Level I in December (keep in mind that results aren't out until January), he had been somewhat actively looking for a job in IM for ~5-6 months. As soon as he received the Level I test results, he became very active in his search. His hit rate for interviews went up exponentially and he ended up being able to pick amongst three jobs within about 2.5 months of receiving the results.

Hope that helps.

RG
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Re: GMATClub's Unofficial Chartered Financial Analyst thread [#permalink] New post 19 Aug 2008, 08:51
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Re: Has anybody taken/passed the CFA level I? [#permalink] New post 30 Apr 2008, 08:15
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sm332 wrote:
It seems a pretty penny for just another 3 letters on one's resume?


Unfortunately, I am not allowed to post the 2007 survey (you need to be a member of the CFA Institute to have access), but here is a publicly available press release using 2005 data.

http://www.cfainstitute.org/aboutus/pre ... rveyUS.pdf

Take a look in particular at the info on the top of page 10. Seems pretty substantial, in my opinion. Any by the way, the cost of the CFA will be between $3,000 and $6,000 depending on if you take prep courses, buy additional materials, take practice exams, etc. The ROI is immediate and HUGE. As a side-note, it does depend on the industry that you want to go into. CFA is irrelevant (from a $$$ perspective) at i-banks, for instance.
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Re: Has anybody taken/passed the CFA level I? [#permalink] New post 30 Apr 2008, 13:54
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Just to add a little bit to this discussion. (I'm a level III candidate.)

Irishfan - I don't think you should do the CFA program while you're at GSB. For one, you'll have to pay for it yourself. :( You should have great access to firms through school career center so you don't need CFA candidacy to get interviews. You should just concentrate on what to do once you get those interviews, e.g. read investment news/books, create stock pitches, join investment club, invest in your personal account, etc. and if the CFA program comes up in an interview, you can express your desire to obtain the charter in the future. I don't think any MBA hiring firm will expect you to have progress in the program if it wasn't applicable to your prior work experience. And I don't think only having passed level I will change your prospects immediately coming out of GSB. All that being said, level 1 isn't terribly hard and with your background level 2, after a december level 1 pass, can be done the following June if you want it.
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Re: Has anybody taken/passed the CFA level I? [#permalink] New post 30 Apr 2008, 19:29
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kidderek wrote:
Seriously. Who knew we had a CFA mentor on board here?


Haha. I feel like this is one of the few things that I can help with around here. So many superstars, I'm just trying hang around and pick up some gmatclub's good vibes. 8-)
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Re: Has anybody taken/passed the CFA level I? [#permalink] New post 01 May 2008, 07:39
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I'm a CFA charterholder as well.

For study tips, remember that the CFA exams are tests of perseverance, not intelligence. So it pays to start anywhere from 4-7 months before your test date. Some people prefer to study in groups, while others prefer to go at their own pace. Regardless of your approach, it is helpful if you can finish reviewing the material roughly 2-4 weeks before your exam date, thus giving you time to take as many practice tests (hopefully at least 3) as possible. I would get together with one of my buddies and take the exam on Saturday, and then spend all Sunday reviewing it. It really helps to talk out your answers to someone else, or, to hear someone else explain the question and answer.

As for taking Level I during your MBA, there certainly are some pros and cons. On the plus side, a lot of the material will be similar to the core curriculum, so you'll have some overlap. And it's a great way to show employers that you're serious about entering the business. However, studying for the CFA is very time-consuming, and you're only in school for a short time--wouldn't you rather spend that time either on activities at the school or hanging out with classmates or doing part-time internship? If you're really academically inclined, you could even do a finance related independent study. I don't think there's a right answer--but think long and hard about it.
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Re: Has anybody taken/passed the CFA level I? [#permalink] New post 05 Jun 2008, 08:58
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howardforever wrote:
thanks a lot for giving such great insights

please tell me why CFA is very much specific i.e it is only worthy if you take the investment mangement route. at wikipedia it is suggested that CFA also works in investment banking ,financial analysis of stocks and bonds.and portfolio management

http://en.wikipedia.org/wiki/Chartered_Financial_Analyst

so i am a bit confused by your saying that one must be sure that CFA designation will only be worthy of its hard work if one takes investment mangement route.
and i am very surprised that your interviewers at Kellogg didnt know what CFA chartholder is. it would have been so dissapointing for you.



financial analysis of stocks
financial analysis of bonds
portfolio management

I would consider all three of these "investment management."

Investment banking is NOT considered investment management or really even a tangent of investment management. That being said, a lot of people move from i-banking to the buy-side, but that's a whole different story.

As far as $$$ goes, the CFA designation is worthless for a career in i-banking. From an academic/knowledge building standpoint, I do believe there is "some" value. However, a first year associate with a CFA charter and a first year associate without a CFA charter will not be paid any differently. Similarly, a CFA Charterholder will not necessarily help you land an i-banking role. GS, LEH, MER, MS, etc, will take a Chicago MBA (w/o i-banking experience) any day of the week over a CFA Charterholder w/no i-banking experience.

That's why I emphasize that it is important to know which path you are taking. As somebody that has fulfilled the requirements of the CFA, I know that this is something that you don't want to casually pursue. It requires focus and dedication. If you want to take a path that is a tangent of investment management, it will be hard to keep up those two things, since you won't really see any light at the end of the tunnel, even as you successfully work your way through the program.

I hope this helps a little. Let me know if you want some clarification or have any more questions. I'm trying to help as much as I can, while at the same time be objective. I am a big believer in the CFA Program and what it stands for. At the same time, I've experienced the emotional pain and drain that it has, and don't want it to inflict any of it on you unless it will add value to your long term goals.

Cheers,
rg
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Re: Has anybody taken/passed the CFA level I? [#permalink] New post 09 Jun 2008, 07:51
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sudden wrote:
did you go 3/3 ryguy? how long did it take you to get through? how many hours do you think?

i just took level 3 and i am a bit disappointed. i studied *really* hard but the morning section was a trainwreck. i went 2/2, so i knew what it would take to get through the 3rd one, but there was no way to prepare for that section. i took the 2006 and 2007 official tests available on the website and they were pretty straightforward. nothing too funky -- even the IPS questions were manageable. 2008 was a monster though -- the IPS questions especially were just terrible 1.5 pages worth of details to come up with a return calc?? brutal. i crushed the afternoon, but i don't know if it will be enough.

have you seen a lot of benefit to having a charter? i am not sure that i want to go through this again in the event that i failed. i haven't failed yet, and i am optimistic, but i was shocked at how poorly the test was written. it's what, 1500 pages of material... there's one, ONE question on immunizing bonds which came out of a 50+ page reading (it was THE major topic for fixed income this year), and then they decide devote an entire item set to reverse cash and carry arbitrage, which is an obscure topic that they devoted like one page to in the readings. i mean, wow, how do you prepare for that? it's devestating to spend hundreds of hours studying and then feel like you failed some random, arbitrary "test" that doesn't even represent the material (i actually thought i was in the wrong test in the morning LOL!).

good luck on the results for everyone else who took the exam.

Hey Sudden,

I'm really really sorry to hear about your frustrating experience with the exam this weekend. I had very similar experiences at both Level II and Level III. Before I get to that, I spoke with one of my friends that took LIII this weekend as well. He felt like he got torn apart on the morning session. The afternoon was slightly better, but he was pretty beat down emotionally and felt like he had no confidence after lunch. This was his second time taking the exam, after having failed last year. He even read both the CFAI materials and the Schweser. He said there were some very challenging questions on VWAP and implementation shortfall. He also felt like the IPS questions, in terms of calculating required return, were tricky. As far as the afternoon goes, he said the ethics was brutal.

Level I
A bit on my experience. I passed Level I in Dec 2004. I had planned to take Level II in June 2005, but there was no chance after I saw the material. I'm averse to accounting, so there was no way I could pass with only 4 months of studying (results released at the end of Jan.).

Level II
I started studying for Level II after Thanksgiving 2005, leaving me with about 6 months of studying, including 3 weeks of review. My strongest area without a doubt was equities. When I got to that section in the afternoon, I read through the passage and completely understood everything. However, when I got to the questions, I thought what the ^&@*!!! What do these have to do with the passage that I just read? I still remember the basics of the case. It has something to do with a Swiss watch maker. Going into the test, I was banking on getting at least 5/6 from that passage, since I knew that if I were to pass the test, it would be by a slim margin. I walked out of the Level II exam and was completely devastated. Not only was the equities section difficult, but ethics, and FSA were also brutal. I felt that I could have gotten anywhere from 6/12 to 12/12 on the ethics (I ended up scoring in the 50-70 range in that area). I walked out of the Level II exam and was completely devastated.

I had studied for 300-350 hours (maybe more, who knows!) and I thought that it was all a waste. I even thought to myself that maybe this CFA thing was not for me. Seriously, I’m not kidding. I beat myself up over the exam for about 2 weeks. How can somebody study so hard and have such a poor outcome. Nevertheless, when the results came out in August, they read, ryguy904: PASS. Un-believable.

Level III
Now to Level III last year. First of all, last year was the lowest passing % in the history of Level III. I think only 50% passed. I'm not trying to toot my own horn, I just believe that people really underestimate Level III and it’s staring to show in the results. I had two friends that I went through the first two levels with, and sadly, both of them were sitting in Pomona (Los Angeles test center) again last Saturday. I felt that I did OK on the essay portion, but definitely below what I was capable of. The individual IPS required return calc was very difficult (which I ended up getting wrong) and the portfolio attribution section was a bear. I knew the formulas like the back of my hand, but somehow the questions were asked in a way in which I came up shooting blanks. In the afternoon, I wanted to cry. I felt like I was getting my *ss handed to me. I seriously felt like all of my study time had gone to waste. I put in the most time for this exam, maybe 400 hours+. I felt like I was 50/50 on every question that I “should” know. For Level III, the section that irked me was risk management (VaR, etc.) I felt that I knew the section well and had read it maybe 4-5 times (it was relatively short, maybe only 60 pages for the entire study session). When I got to the questions, I was hoping for at least 4/6, if not better. I thought that at best, I only managed 2/6 - and that was if I was lucky. Meanwhile, GIPS appeared in the afternoon section of the test, for the first time since--I don’t even know when! I reviewed the previous exams from 2003-2006 (four stinkin’ years!) and the format was virtually the same each year. Also, it was in the essay portion in those years. When I got to lunchtime, and hadn’t seen GIPS yet, I was a little worried. I knew it would be in the pm for sure, but in what format?? GIPS ended up being the last six questions on the exam. I basically got ripped a new one. We had to calculate the return for a portfolio….HUH?!?! I had skimmed through these sample questions in the reading, because I was like “no way, these questions take like 5 minutes each to solve.” Yet there were two questions in the pm that had us do this. I walked away praying that I hit 3/6 in GIPS, although 1 or 2 was more likely. And of course, ethics was a monster, as usual. I thought 9/12 would’ve taken a miracle. Ironically, Level III was the only year in which I scored >70 in ethics. Go figure. End result LEVL III: PASS. And to answer your question, I did go 3/3.


I really feel your pain, Sudden, and understand what you just went through. That’s why I wanted to post you comprehensive note on my personal experience. There’s a long way to go until the results come out. Trust me, I was as anxious as anyway to get them. I was literally having nightmares a couple weeks after the exam was over. For instance, I had a dream that the person next to me was cheating of my exam, and we both got in trouble! I had another dream that there were 30 minutes left on the essay section and I was just starting question 2!! Ultimately, you really did the best that you could. If I had put money on how I did after I left the test centers, I would have lost EVERY time. I really didn’t even have much of a glimmer of hope for Level II and Level III. As far as your test goes, you put down YOUR best answers on paper. You can’t go back and change them at this point. With that in mind, do not pick up any CFA materials. You will only make matters worse. Try to take your mind off of the situation as much as you can. Go on vacation, read books, rent movies, play Halo, or whatever floats your boat. It’s a long way until the results come out. Enjoy your free to and remember what it’s like to have a “normal” life.


All the best,
ryguy
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Re: GMATClub's Unofficial Chartered Financial Analyst thread [#permalink] New post 11 Jun 2008, 11:48
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I went 3/3 on the CFA exams. I did Dec 2005 level 1, June 2006 level 2, and June 2007 level 3. As far as the CFA and getting into B-school, it will help much more at a finance related school. Sadly, the adcom at many schools know what the CFA is, but they don't REALLY know what it is and what it takes to get it. The finance related schools have this problem to a lesser degree because members of those schools are much more familiar with the CFA program. If you're hoping for the CFA to help you get in, you'd be best served applying to Wharton, Chicago, NYU and other good finance heavy schools. I applied to NYU part-time on May 15th and was accepted June 4th. The CFA wasn't the only thing that got me in but I'm sure it helped. If anyone reading this is wondering if they should take the CFA exams, basically think of that exactly like your goals essay. Why do you want to enter the CFA program and why will it help you achieve your goals?

Go to the CFA website and check out the learning outcomes for the 3 levels.
http://www.cfainstitute.org/cfaprog/res ... sions.html

Don't just look at the topic, open the PDF files and read the learning outcomes. You have to know every one of those things for each study session to pass the test. Know what you're getting into before you start. I also don't recommend taking this test if it doesn't line up with your goals because it is NOT an easy test. However, if the CFA does line up with what you want to do and it teaches you things you won't learn in the MBA program, I highly recommend it. The CFA is an excellent program and you will learn a ton. It will not, however, get you into B-school by itself just like an amazing GMAT score won’t. Like an amazing GMAT score though, it will certainly help your chances.
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Re: GMATClub's Unofficial Chartered Financial Analyst thread [#permalink] New post 19 Aug 2008, 06:49
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Just got my results -- 3 for 3 in 18 months! Not bad for a state school liberal arts major.

Special thanks to ryguy for calming me down after the third exam. Walking out of the test center on June 7th, I felt like I had been kicked in the nuts, but I actually smashed the exam. FEELS GREAT TO BE DONE!

Like ryguy, I would like to be a resource for any CFA hopefuls or candidates around here, so please feel free to ask questions or drop me a line via PM.
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Re: GMATClub's Unofficial Chartered Financial Analyst thread [#permalink] New post 19 Aug 2008, 08:36
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YESSSSSSSSSSSSSSSSSSSSSSSSSSSSS!!!!!!!

Major congrats!

:wave

sudden wrote:
Just got my results -- 3 for 3 in 18 months! Not bad for a state school liberal arts major.

Special thanks to ryguy for calming me down after the third exam. Walking out of the test center on June 7th, I felt like I had been kicked in the nuts, but I actually smashed the exam. FEELS GREAT TO BE DONE!

Like ryguy, I would like to be a resource for any CFA hopefuls or candidates around here, so please feel free to ask questions or drop me a line via PM.
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Re: GMATClub's Unofficial Chartered Financial Analyst thread [#permalink] New post 19 Aug 2008, 13:25
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Just found out that I passed L2 as well! I'm delighted! It was touch and go though, I almost failed when I look at the results.
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Re: Has anybody taken/passed the CFA level I? [#permalink] New post 30 Apr 2008, 07:09
I am glad this came up, a GMATClubber recommended I look into it. What are people's thoughts on its utility? Does it provide some level of intent to adcoms about a candidates 'focus' on finance?

It seems a pretty penny for just another 3 letters on one's resume?
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Re: Has anybody taken/passed the CFA level I? [#permalink] New post 30 Apr 2008, 07:17
sm332 wrote:
I am glad this came up, a GMATClubber recommended I look into it. What are people's thoughts on its utility? Does it provide some level of intent to adcoms about a candidates 'focus' on finance?

It seems a pretty penny for just another 3 letters on one's resume?


I think it's looked favorably for one reason that is undeniable: Employability.

Cost of MBA = pretty penny
Cost of CFA = your social life
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Re: Has anybody taken/passed the CFA level I? [#permalink] New post 30 Apr 2008, 07:20
Thats not as much of a concern if there is no social life to begin with!!!

kidderek wrote:
sm332 wrote:
I am glad this came up, a GMATClubber recommended I look into it. What are people's thoughts on its utility? Does it provide some level of intent to adcoms about a candidates 'focus' on finance?

It seems a pretty penny for just another 3 letters on one's resume?


I think it's looked favorably for one reason that is undeniable: Employability.

Cost of MBA = pretty penny
Cost of CFA = your social life

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INSEAD Sept 2010 Interview Invite Nov 5, 2009 Admit & Matriculating
Wharton Sept 2010 Interview Invite Oct 30, 2009 Waitlisted & Ding
Harvard Sept 2010 Ding without Interview
Ivey May 2010 Interview Invite Nov 23, 2009 Admit + $$

Re: Has anybody taken/passed the CFA level I?   [#permalink] 30 Apr 2008, 07:20
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