Will You Pass or Fail Your CFA Level I Tomorrow? 

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Will You Pass or Fail Your CFA Level I Tomorrow?

By Christine

Are you expecting your results tomorrow?

Exciting stuff! Remember, the results will come to you after 9am ET, not at 9am ET. It takes a while. Here are the other timezone equivalents:

  • PST: 6AM
  • UK: 2PM
  • Europe: 3PM
  • Dubai: 6PM
  • India, Pakistan: 7:30PM
  • China, Singapore: 10PM

If you have more questions about results day tomorrow, check out our FAQ.

At this point, whenever you’re thinking about your results, you mind might simply be a litany of ‘Pass or fail? What if I fail? Would I pass?’. Let’s analyze the implications of both possible outcomes you face tomorrow.

Passing, and what this means.

If you pass tomorrow – congratulations in advance! You should get out there and celebrate this hard-earned achievement. You’re already 1/3 there!

A serious consideration that you must now decide (and you may have already decided on this) is whether to take the June 2013 Level II exam. Given that you only have 4 months to study, this is a decision that should be considered carefully.

In making your decision, consider these two important factors:

  • Will you be able to fully commit? Are you available to study for the CFA exams in the next 4 months? Work? Family?
  • Your basic knowledge of finance. Do you already have a strong financial background or work experience? Do you find the syllabus naturally easy or challenging?

But regardless of your decision for Level II, well done on clearing Level I.

Now, let’s consider the alternative.

The CFA pass rate has traditionally been around 40% for Level I. This means that about 3 out of 5 people who show up for the exams fail. So there is a real chance of failure here.

It’s not uncommon to fail at some point in the CFA exams. Not many candidates pass all 3 exams the first time. A notable exception is our guest contributor Sophie – you can read about her Level I, Level II and Level III experiences.

What we do want to say is that failure isn’t necessarily a reason to give up. Some of the team here at 300 Hours didn’t pass every CFA exam in the first try, and they still got there in the end. With hard work, this thing is beatable.

A simple way to view it is this: you can start preparing for the June 2013 Level I, and this time you’ll have a huge advantage. You already have gone through the whole syllabus extensively, and you’re already starting revision. And that’s great!

Win or lose, hit the booze.

Regardless of outcome, be sure to take some time to think about your next move. And remember to celebrate (or commiserate) with your friends!

Good luck for tomorrow!

Are you expecting your results tomorrow? Let us know below!

Zee Tan
Author: Zee Tan


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