CFA CFA Level 3 The waiting is the hardest part

The waiting is the hardest part

  • This topic has 13 replies, 10 voices, and was last updated Sep-17 by Jwa.
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    • Marc
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      Waiting a year to rewrite an exam sucks.

      Waiting a year to rewrite an exam that you killed yourself studying for sucks worse.

      Waiting a year to rewrite an exam that you killed yourself studying for and you knew all the material but failed because you made a couple stupid time management mistakes sucks most of all.

      You think it would be easy to pick up the books again, but it’s not. There is a lot of resentment.

      My advice: Don’t fail the Level 3 exam because – spoiler alert – the next 12 months will suck.

    • CFAcharterwannabe
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      @Marc kind of understand how you feel. It was something I experienced during my previous qualification. I passed all 13 papers straight by self studying on my first attempt but I got stuck on my last paper in Dec ’10. I passed that last paper after 3 attempts in Dec ’11. It was so horrible on my self esteem and I felt like crap every time I looked at the books. And then every time I sat for the exam there was this voice in the back of my head that kept going non-stop you are going to fail again. Man, it was a pretty messy year. Now I know right now it doesn’t, feel that way but when you get that sweet sweet email with that pass on it, it’s like the slate is wiped clean. Everything everything feels like it was worth it. So hang in there and do your best and all the very best of luck from my end. Third time’s the charm yeah 🙂

    • Zee Tan
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      Welcome back @marc – we missed you!

    • clwcain
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      Ouch, @marc
      I didn’t realize that’s what happened.

    • hairyfairy
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      aww @marc. sorry to hear that, but glad you’re back!

    • Sophie Macon
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      @Ravivooda, @Alta12 – introducing you to @Marc, he’s taking Level 3 as well this June and he’s made some crazy awesome notes!

    • RaviVooda
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      @sophie, thank you. will keep posting doubts to @Marc, @alta12 and others
      Thinking about waiting 1 year itself is hell. Certainly nobody wants to be there

    • Alta12
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      @marc, @ravivooda …Let’s beat the beast together!!! Thanks @sophie for the introduction! You are the BEST! Btw, did you manage to get a response from Elan?

    • Jwa
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      @Marc couldn’t agree more, and it took me a long time to get going because I couldn’d face losing all that time, but I am chugging along now, definitely taking in more than last year too I think (hope, pray etc.). I was score band 10 last year and I seem to remember you were a high score band also, surely got to be feeling quite confident (albeit not overconfident!) this time round! Especially if it was only a time management issue – I have the slightly broader problem of being terrible at portfolio management… :((

    • AjFinance
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      @Marc I agree with you 100% . And I’d add that it sucks more when you’re not sure if the designation would be useful to you. But you gotta complete what you start. Lets hope we nail it this time around 🙂


      @Jwa
      I was in a Band 10 as well last year . I know that it feels all the more worse when you’re in a high score band. Lets hope for the best this time around. Stay strong. Stay positive 🙂

    • Jwa
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      @AjFinance – yep, would have just given up if I’d got =< scoreband 5, 10 just very irritating, especially when the feedback is abysmal.

    • Marc
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      @Jwa‌ I completely agree with your comment from last week. I’m not a portfolio manager or an analyst and I already have quite a few letters after my name. Sometimes I feel like the reason I’m still at this is because I’ve come too far now to give up, which (if I recall my level 1 curriculum correctly) is very poor logic for continuing on with an ill-fated project. Overall, I’m positive, but I think the reason that boards like this exist is to allow us to vent, commiserate with others, and move on.

      Best to all Level 3 candidates.

    • AjFinance
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      @Marc You’re spot on!

    • Jwa
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      @Marc – I am neither an analyst nor PM either (corp finance), and I am sure I have aired this before, but one irritant I have with CFA is the way they market themselves quite aggresively as the gold standard of financial qualifications, implying a broad remit – and seemingly convincing employers of this -, which may be fairly accurate for Levels I and II I guess, but then you end up in this slightly ludicrous situation where “45-55%” (but really at least two-thirds given the questions I have seen) of the LIII exam is portfolio managament. What really exacerbates this issue is the grading on a curve, so we are essentially competing with people who do this kind of thing for their day job. Long story short, going into CFA III, I just constantly feel at a massive disadvantage, as I am sure PMs/analysts would if the exam was massively weighted towards abstract areas of corp. finance or capital structures. Good to vent anyhow….

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