I failed band 10 this year (first time taker)
Used CFAI books, did all CFAI mocks from 2008, Schweser: 3 tests, took 150 pages of notes. Reviewed the material 3 times and spent substantial time.
I dont think that I could have done better, because they tested my strong areas.
What would you say should be the strategy to rewrite?
you obv had the right strat and missed out barely. it should be easy for you. start early, revise often and take as many tests as you possibly can. you’ll be aight.
more tests more tests. find them, google them, borrow them.
Probably the same strategy works next year with better luck?
Also, if S2000 magician sir can comment, his experience would certainly assist.
I took dozens of exams. Both volumes of schweser + 6 years of cfai mocks. Going to get rid of the schweser books soon for free on CL
In a sense, I’m unqualified to comment, because I never retook a CFA exam.
(I know: that sounds smug. It isn’t intended to be. What I mean is that I really cannot say whether it’s better to follow the same strategy as you were so close, or try something completely different because you didn’t pass, or . . . .)
I would encourage you to look at the areas where you did poorly, and try to figure out what happened there. For the morning session that should be easy once they publish the answers; try your best to recall what you wrote compared to the official answers. Be honest, but very critical. For example, if they included a conclusion that you omitted, make a note to include that next time. Admit your mistakes freely and learn from them.
Best of luck!
^ What he said.
Band 10 is more a matter of luck, I think - you may have studied topics in depth that did not get tested as much as the ones you studied a bit less; and the candidates who passed did the opposite. A band 1 or 2 fail might trigger a change in strategy, band 10 would not, IMO.
Sounds like u did all the right things. Do the same, but push harder. Also make sure to get a LOT of sleep the night before. At least 7-8 hours if not more.
For those who passed CFA Level 3 this year, Congratulations!!! I have a question for you. What is the best strategy to be well-prepared for the exam next year? I just passed Level 2 and would like to use an effective strategy to attack level 3. Your candid response is much appreciated in advance.
How did you do in the morning vs. afternoon? My only suggestions would be to do more exams (a lot more) and maybe look at Windsor Week if you were really weak in the AM. They instructors are all former graders. Their insight on how to answer questions and guarantee at least part marks was invaluable.
Thank you for your responses. Just a clarification. I have not taken level 3 yet. I took level 2 this year which I passed. I would love to hear from you how to strategize for Level III. Many thanks in advance…
It’s not so much you need a different “strategy” for L3, i think the ONLY thing different is time management for AM, i think everyone can agree that AM is very time constraining. The way i studied was keep doing mock exams (2-3 times) in exam environment, do not write shorthands, do not write essays, write NEATLY… you’ll be surprised how little we write these days and how unnatural for us to write quickly (as compared to typing).
practice exams . I read the material once through, took 12 mocks, passed. it’s all about the mocks. It’s all about the mocks.
You were able to bring all the concepts together from reading the first time or the mock exams helped you how the different pieces come together?? Thanks so much!
do the mocks and stuff you get wrong refer to cfai books for explanations
You said you “reviewed” the material 3x, by that do you mean you read it in detail?
When you took exams, did you do timed tests or did you just do the questions? You should focus on doing the questions and look at the answer immediately. It give you instant feedback, which is very powerful. Do an item set, look at the answer. Exposure to questions is MORE important than replicating the exam experience.
How much sleep did you get?
You are Band 10, so passing is totally within your capability. I got band 10 last year, and passed this year btw.
Thanks for getting back.
Yes, I reviewed the material in detail. Did timed tests (in exactly similar conditions as the actual test), though haven’t done the tests and looked at the answer immediately, so will do that. On the night before the test, slept 7 hours, and I think the performance on the actual test was the most optimal I could have done. And that’s what worries me, how can I be better next year.
I used CFAI material, also finished Schweser (volume 1 and 2 tests) and CFAI exams (2008-2013, and sample for 2013). I don’t think, I can attend Creighton Boot camp due to some reasons.
So, when did you restart studying while rewriting, how did you manage getting the new tests, and how did you structure the studies while writing it for the second time? What else you did differently second time from the first time? In practice exams, how different was your score the second time compared to the first time? How did you evaluate the AM section exams (that you improved from the first time)? Any study material would you suggest for the second time? Hope too many questions from my side are okay! thanks for your time.
there is nothing really you should change. You were probably 1 question from passing. So look at weakest area, bone up on that and pass. There are fewer readings in 2014 also which should also be helpful.
Palantir, congratulations on passing. I am on the same boat. Exhausted all practice exams and mocks but failed Band 10. My strategy is to study at a minimum and still pass! Since I have done so much studying already last year I am purposely overweighing work relative to study this year. Not really wise to spend as much time studying as I did in the last attempt. I mean my work kind of suffered because of that… So I guess what I want to hear is: when did you start studying? And what could you have done differently? If passing were an efficient frontier on the vertical axis I would want to lie on the the tangential line where the minimum studying should be.