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    Senior Member jiang bao's Avatar
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    Default CFA

    does anyone here want to be a CFA and has anyone taken and/or passed any CFA exams?
    Last edited by jiang bao; 05-20-09 at 11:21 AM.
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    My friend did and failed. She said it is very difficult.

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    Out of interest, what is it?
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    omg good luck with that :S
    i've heard CFA is the hardest out of all; compared to CA and CPA.
    Grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference.

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    Senior Member pandamao's Avatar
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    CFA is definitely the most challenging.

    From what I've heard, strictly speaking to business exams, this is the order of difficulty.

    CFA
    CPA
    Law
    LSAT
    GMAT

    I considered taking the CFA since I was a finance major but I realize it required too much from me.

    Good Luck
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    Senior Member jiang bao's Avatar
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    The GMAT is definitely pretty easy. The challenging part was the math ironically... It's only 8th grade math but I hadn't touched math in like 10 yrs so it wasn't easy - especially since you're on the clock.

    I did much better in verbal and did about 80 percentile in math but ended up with a great score - or so I thought, until I found out some mainland classmate I knew who could barely speak English scored almost perfect. Haha. (She studied from one of those Chinese websites that's dedicated to these exams)

    --

    yittz, CFA stands for Chartered Financial Analyst. (Similar to CPA for accountants) You need to pass 3 levels of exams and have certain career qualifications. I am just looking to pass the level 1 exam right now.
    What are you fighting for? Just mix them into pissing beef balls, stupid.
    SOD Pt. 7 updated Jan. 6, '08

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    Quote Originally Posted by jiang bao View Post
    The GMAT is definitely pretty easy. The challenging part was the math ironically... It's only 8th grade math but I hadn't touched math in like 10 yrs so it wasn't easy - especially since you're on the clock.
    How did you study for the math part? I took the test few months ago and got 600. I need at least 700 to get into the schools I want. Any tips?

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    Senior Member jiang bao's Avatar
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    I basically just tried to get as much practice as I could. I got my hands on as many study guides with math probs as I could, and worked on them. Most of the problems are just the trick with numbers types. I tried to "burn" the relations between numbers in my mind because some of the questions are the "trick with numbers" types. You have to be able to see the relations between numbers and see short cut solutions or else it's very hard to complete all the probs within the time limit. You've taken it already so I think you know what I mean.

    Which score are you trying to get into? I did get over 700 but I had no money for a top ranked school so I went to a city-run school which didn't even require 570. It claims to be one of the better business schools but 2 yrs of MBA program, got the grades, but I don't think I learned anything useful. And the near perfect GPA meant nothing cuz the program was pretty easy and the school wows no one. Now doing a crap job, getting paid incredible little amount of $ (making less than half of what I made before grad school), but I do get to learn some stuff so it's not totally BS.
    What are you fighting for? Just mix them into pissing beef balls, stupid.
    SOD Pt. 7 updated Jan. 6, '08

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    I know what you mean. I hate tricks and I hate all standardized tests. Honestly I'm happy with just the local school but my parents encourage me to aim high. I just need like a 720 at the most. I'm reviewing basics right now since I've gotten everything.

    So you plan to take the CFA? If so, best wishes. You seem smart anyway.

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    Senior Member jiang bao's Avatar
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    I wanna get level 1 this year. I think there's an exam in DEC. I am trying to find the motivation to sit down and study. I just feel "school'ed" out. This studying stuff never ends.

    Best of luck on the GMAT. Definitely try to get a good night sleep the day before.

    I also took the GRE before the GMAT, and I got 4 hrs of sleep cuz I woke up early and couldn't go back to sleep (cuz of nerves I think). My brain just wasn't functioning at 100% that day. Ended up just randomly clicking on the last 5 questions on the math section cuz I only had 10 secs left. I was so mad at myself after that. I still got into the program I was applying to (I ended up choosing the MBA program), but I was nervous about the GMAT after that.

    For the GMAT, I got a good night sleep (took a pill LOL) and did much better.
    What are you fighting for? Just mix them into pissing beef balls, stupid.
    SOD Pt. 7 updated Jan. 6, '08

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    Quote Originally Posted by jiang bao View Post
    does anyone here want to be a CFA and has anyone taken and/or passed any CFA exams?
    I would, when I'm tired of living and seeking for a professional suicide.
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    Quote Originally Posted by jiang bao View Post
    does anyone here want to be a CFA and has anyone taken and/or passed any CFA exams?
    I passed the level 1 CFA Exam about a year and a half ago. My work reimbursed for the cost of the exam, study materials and classes contingent on passing so I decided to give it a try. I went with Schweser for study materials, and also took a class at BSAS (Boston Security Analysts Society). Both of my degrees are in Computer Science so it was a pretty hellish experience for me. Overall I probably spent more than 300+ hours to prepare. I scored pretty well with all sections above 70% except ethics which was in the 50-70% range.

    It is not a cheap process since study materials, classes and exam registration will run you around $3500 just for level 1. Some of the materials may be reusable for level 2 and 3. The roughly 40% passing rate is also something to keep in mind.

    While I work in the industry I am not a trader or portfolio manager/analyst, and given the time investment involved I wasn't motivated enough to go for level 2.

    If you search this forum you might even see me venting on this subject.
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    Senior Member jiang bao's Avatar
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    How many different study guides did you use? I think I may be able to borrow a Stalla CFA study guide from work. Do you get tested on obscure little details on the exam?
    What are you fighting for? Just mix them into pissing beef balls, stupid.
    SOD Pt. 7 updated Jan. 6, '08

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    Quote Originally Posted by jiang bao View Post
    How many different study guides did you use? I think I may be able to borrow a Stalla CFA study guide from work. Do you get tested on obscure little details on the exam?

    I bought the level 1 Schweser study guides, the audio cd and the online question bank. BSAS also provided their own guides, practice exams and a mock exam as well. I also bought a pocket review book as well as some guides online. The topics covered in the test changes from year to year so it may be worth your while to have the most recent edition. Are you planning for the December exam?

    I thought they were pretty detailed in the ethics section. It's often easy to tell that there's been a violation but it can be rather difficult to tell which rule was violated. There a great deal of pure memorization, and emphasis on how quickly you can answer the questions. The number crunching for IIR, NVP, cash flow, ROI, depreciation, amortization, probabilities, and confidence intervals for z and t are pretty run of the mill. Supply, demand, Keynesian vs. neoclassical, fiscal and monetary policy were also fairly straight forward. There's some level of ambiguity in reading accounting entries since balance sheets and the like are not really standard. Now keep in mind that the only class I've taken that had any direct bearing on the above was a semester of Microeconomics in undergrad so my perceptions are probably quite different from those of a accounting/finance major .

    You also need to be very skilled with using the TI-BA II Plus or the other approved calculator.
    HK47: Now do you understand the travails of my existence master? Surely it does not compare to your existence but still...
    You: I survive somehow
    HK47: As do I. It is our lot in life I suppose master. Shall we find something to kill to cheer ourselves up?

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    Senior Member jiang bao's Avatar
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    Thanks for the headsup. People I know who've taken it have told me to be ready for everything... lol. I've looked at some of the practice questions and I am in trouble.

    I hope to take the Dec one but I am not sure I have the motivation to study and study enough to be ready for that one.
    What are you fighting for? Just mix them into pissing beef balls, stupid.
    SOD Pt. 7 updated Jan. 6, '08

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    Senior Member pandamao's Avatar
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    Quote Originally Posted by dictionary View Post
    How did you study for the math part? I took the test few months ago and got 600. I need at least 700 to get into the schools I want. Any tips?
    I did so poorly on my GMAT that I'm ashamed to share my score. My writing score was a 9 but that's only because I'm a pretty good bs-er. My math was horrible and verbal was just as bad.

    Getting the right amount of rest makes the biggest difference. I suggest you buy the 800 real GMAT questions book and go over every single problem.

    Time management is the key. the questions get progressively harder if you are doing well so timing is huge! you want to go super fast on those easy questions because by question 7, they have a pretty good idea what your score would be and any additional questions are just trying to see if u can go +/- 3 pts from that score.

    Good Luck.

    Mba is a waste if you don't have prior work experience.
    Hatred is a curve blade. The harm we do to others, we also do to ourselves.

    i tell you, some ppl argue for the sake of arguing.

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    pandamao, you got a 9 out of 6? Wooh!

    800 real GMAT questions book... are you referring to the Kaplan GMAT 800? I'm gonna look for it tomorrow. Thanks!

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    Senior Member pandamao's Avatar
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    Quote Originally Posted by dictionary View Post
    pandamao, you got a 9 out of 6? Wooh!

    800 real GMAT questions book... are you referring to the Kaplan GMAT 800? I'm gonna look for it tomorrow. Thanks!
    http://www.amazon.com/Official-Guide...3092358&sr=8-2

    i believe it's that book not the Kaplan 800.

    These were official questions, so go over them to know the way they ask certain questions. Just know that the book gets progressively harder so just b/c u can finish 20 questions in 20 mins, it doesn't mean anything other than THOSE SET OF DIFFICULTY u were able to complete them in that range of time.

    the test will get harder if u get more correct hence go as fast as u can while still getting the answers correct. my pitfall.

    i took this book and got almost 90% of the questions right but i didn't realize, i spent a lot of time on the easy ones. =(

    study hard.
    Hatred is a curve blade. The harm we do to others, we also do to ourselves.

    i tell you, some ppl argue for the sake of arguing.

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    Senior Member jiang bao's Avatar
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    You should spend more time in the questions in the beginning for that reason. Try to get as many in the beginning as you can.

    I hate those geometry questions. They love to ask you about polygons within polygon types questions to test your knowledge of the properties of polygons.
    What are you fighting for? Just mix them into pissing beef balls, stupid.
    SOD Pt. 7 updated Jan. 6, '08

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    Thanks guys for the heads-up. panda, I have that book and the supplements too. Geometry is challenging for me. Well, I've always suck at it. If I have any more questions I'll ask you guys. Gracias!!

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