Hey bro, if you had spent a lot of time in China, you must know the Chinese College Entrance Exam (pronounced as “GaoKao” in Chinese) for high school graduate students. That’s one of the toughest exams in the world in my opinion, given that one taking the exam is targeting at a top university in China.
1 Like
I heard that exam is super intense! But isn’t there like loopholes around that exam tho?
I personally took it 10 years ago：）Well there is no evidence to say it’s the toughest in the world(as I later saw Japanese high school students also studying to death to enter the top universities, I believe it’s the similar difficult). I can only be confident to say that worldwidely, exams made in USA are not tough, in English speaking countries alone, exams in U.K. are killing me more. US CPA exam is just like a joke compared with ACCA in U.K, although the US credentials often have higher reputation because of American influence in the world.
1 Like
Basically NO, every Chinese high school graduate student has to take that exam if he or she wants to go to college, and cheating is almost impossible and deemed to be against the law. It’s tough but it’s not a pass/fail exam, the higher score you get, the better school you can enter. So technically nobody “fails” the exam because you can almost always find a university that takes students with your score, the difference lies in the quality of the schools, just think about Harvard and a community college in your hometown.
1 Like
ACCA is a bit easier than CFA and is divided in smaller parts.
I don’t think so. I’m not chinese but I have chinese friends. Some of them don’t need to take this exam. Because they have national or international awards (in mathematics, physics,…). The exams are definitely harder than the GaoKao.
Im Chinese-American but I’ve known a few foreign-exchange students that apparently didn’t do too hot, but with family wealth they were able to study abroad.
CFA appears to be hard only because 6 volumes of curriculum are tested together in one paper. In order to pass you need to put so much information inside your brain; but any single point in CFA, I don’t think it’s difficult, it’s just extensive(and intensive in level 3 AM, time management wise) ACCA gives you the flexibility to sit for only one subject each time, but the knowledge is tested in a much deeper way and you really need to show critical thinking ability, if you only put some general information of that topic without further tailoring your answer to the scenario, chances of passing is low. Maybe English is not my mother tongue, I had difficulty doing well in some professional level, like P3 and P5.
1 Like
That’s why I said basically, yes some top high school students can enter top university if they can get good result in national or international Olympic math/physics/IT/etc competition. But think about this: how many students are able to compete in these competitions and how many students take GaoKao? Let me give you a number, and you can trust me (I graduated from a top high school in my province in China), at the moment every year almost 10 million students take Gaokao but among them I think only several hundred are able to reach the final stage of national Olympic math/physics/IT/etc competition. Of course the competition is much tougher but I don’t consider it an exam, it’s only for genius.
Also, Peking University and Tsinghua University (the absolute top 2 universities in China, you can consider them as Harvard and MIT) only enroll about 6000 students each year. That’s 6000:10000000, namely if “getting into one of these two universities” is an exam to pass, the pass rate is only 0.06%, 900 times lower than that of CFA level 3.
Yes it’s the new trend for wealthier families to send their children abroad in earlier age to avoid the fierce competition of Gaokao
1 Like
There are maybe harder exams on other planets.
This exam will be the hardest on Earth: You toss 30 coins only once, if you get all 30 heads, you pass.
In theory, 6-7 persons on Earth succeed this exam.
You hit it spot on… 
definitely need to get out more and talk to more people… I have a wife who has gone through the rigours of Medical school and residency and this doesn’t even come close
1 Like
CFA exams are not easy, you need to put in the hours and have a certain level of intelligence to successfully pass them. Among finance qualifications it is probably one of the most difficult. However it is definitely not the hardest exam in the world, not even close. Other exams have ridiculously low pass rates of 5-10%.
1 Like
I don’t like when someone underestimate the path to CFA charter nor if is overestimated. One should invest significant unit of effort to reach this goal and that’s it. It’s maybe easier for some but overall this is not easy. Otherwise, everyone would be a charterholder.
One would need to sit all exams before knowing the answer.
Highest I’ve seen it ranked in an online poll is 3rd. The real question is how useful is it?
Finance (and CFA) attracts many of the brightest mind’s. Intellectual horsepower that may serve society better in other subjects e.g. STEM.
I’m a bit of a dummy thus no loss to these communities, but y’all should feel guilty. 
1 Like
Well in order to answer the OP’s question we may be more or less unconsciously stating in a tone sounds like the CFA exam is easy. It is easier under global comparative perspective but still requires hundreds or even more than 1000 hours of study, which reflects a high level of motivation for self improvement as well as strong self discipline. These qualities are definitely everyone admires and appreciates. I understand many candidates maybe offended by the statement that CFA exam is not hard, as it feels like their effort is belittled. As I am also waiting for my upcoming level 3 result, believe me, if I pass, I would not be happy to hear people saying CFA is easy lol Had to clarify the above before people found my previous comments annoying:) Cheers.
1 Like
finance is not STEM…cannot compare equity research or portfolio managing or client portfolio managers to STEM jobs lol…hmmm let’s see I am a generalist for a fund in nyc…what I do does not and cannot dare be compared to STEM jobs which are designing 6th generation multi-role fighter jets for Lockheed or Boeing, stem cell research, brain surgeon, family doctor who correctly diagnosed strep throat and eased the pain for the patient, GM engineer to code the second generation driverless cars, etc etc…
And No, finance does not attract the brightest in the world you are thinking of technology, aerospace & defense, NASA, and medical field to name a few.
Buttttt, yes, CFA is tough only because there is just so much to read…The material?? pfff give me a break. Basic algebra needed and goes over what the net income would be under LIFO vs FIFO and what is Bob’s expected return (4 points) and what is FCFE of XY Corp in year 201x?
1 Like
I never compared equity research to STEM jobs - that was you.
I simply pointed out the talented individuals are lured to Finance from STEM. Large number of Physics and Maths graduates are working in Finance in the belief they will earn higher remuneration.
Well if infinity took the exams long ago then he/she may not realize it’s more intense now. It’s still in no way close to the hardest in the world but definitely grueling to get through the breadth. Charterholders from yearssss back had it so easy.
1 Like