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Thread: CFA Exam

  1. #1
    Senior Member LuNaR's Avatar
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    Default CFA Exam

    anyone have experiences that wanna share about this test? i just registered for it
    SAN FRANCISCO GIANTS 2010 and 2012 CHAMPS

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    Quote Originally Posted by LuNaR View Post
    anyone have experiences that wanna share about this test? i just registered for it
    I assume level 1?

    I took level 1 about 4 years back, passed it after 350+ hours of study. What I used where Schweser books and online tests complimented with a class offered at BSAS. Four others at my workplace took it at the same time, one other person passed, one decided not to take the test, one failed and it was his first try, the last guy failed and it was his third try. All in all pretty representative of a 40% pass rate.

    Between the study material, the class at BSAS and the exam registration it came out to be ~$3,000. I was very stressed out at the end, and depressed since I ended up take a full week off from work so I can do practice exams every day.

    The material was pretty interesting but both my undergrad and masters were in CS so I've never taken accounting, corporate finance, macro economics, or even statistics. The cash flow and balance sheet calculations were the most difficult for me while studying but in terms of final score, I think I scored above 70 in all categories and 50-70 in ethics. Ethics is weird since it's often easy to know if something is wrong but difficult to pin down which principle is being violated.

    I thought about taking level 2 but my guinea pig (the other guy who passed) failed level 2 after deciding that all he needed to do was practice exams, and it seemed that the road to becoming a PM wasn't particularly viable or desirable from where I was.
    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?

    -KotOR

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    Senior Member LuNaR's Avatar
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    Quote Originally Posted by darkcser View Post
    I assume level 1?

    I took level 1 about 4 years back, passed it after 350+ hours of study. What I used where Schweser books and online tests complimented with a class offered at BSAS. Four others at my workplace took it at the same time, one other person passed, one decided not to take the test, one failed and it was his first try, the last guy failed and it was his third try. All in all pretty representative of a 40% pass rate.

    Between the study material, the class at BSAS and the exam registration it came out to be ~$3,000. I was very stressed out at the end, and depressed since I ended up take a full week off from work so I can do practice exams every day.

    The material was pretty interesting but both my undergrad and masters were in CS so I've never taken accounting, corporate finance, macro economics, or even statistics. The cash flow and balance sheet calculations were the most difficult for me while studying but in terms of final score, I think I scored above 70 in all categories and 50-70 in ethics. Ethics is weird since it's often easy to know if something is wrong but difficult to pin down which principle is being violated.

    I thought about taking level 2 but my guinea pig (the other guy who passed) failed level 2 after deciding that all he needed to do was practice exams, and it seemed that the road to becoming a PM wasn't particularly viable or desirable from where I was.
    yea im starting level 1, and thanks for the tips and experiences
    SAN FRANCISCO GIANTS 2010 and 2012 CHAMPS

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    i thought about it, but it's super expensive! your company paying for it?
    nytimes: Every hr you have 10 minutes where youíre not doing anything productive at work, & you canít look at porn. So you make a comment & fulfill this desire to show yourself off as a smarty-pants.

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    Senior Member LuNaR's Avatar
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    Quote Originally Posted by pemberly View Post
    i thought about it, but it's super expensive! your company paying for it?
    out of own pocket lol
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    have you taken it yet? for your sake, i hope you pass, bc that test is a cool thou right?
    nytimes: Every hr you have 10 minutes where youíre not doing anything productive at work, & you canít look at porn. So you make a comment & fulfill this desire to show yourself off as a smarty-pants.

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    Senior Member LuNaR's Avatar
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    Quote Originally Posted by pemberly View Post
    have you taken it yet? for your sake, i hope you pass, bc that test is a cool thou right?
    i actually switched "career" lol, atm im focused on aml + fraud, bene doing that for a year already, liking it. probably gonna take the CFE instead lol
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    wait, so you paid the thou for nothing? or can you apply towards the CFE instead?
    nytimes: Every hr you have 10 minutes where youíre not doing anything productive at work, & you canít look at porn. So you make a comment & fulfill this desire to show yourself off as a smarty-pants.

  9. #9
    Senior Member LuNaR's Avatar
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    Quote Originally Posted by pemberly View Post
    wait, so you paid the thou for nothing? or can you apply towards the CFE instead?
    yea i just skipped the test lol, o well

    i learned a lot about investing going thru the books anyways
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    so you bought the books AND paid for the test? pretty penny.
    nytimes: Every hr you have 10 minutes where youíre not doing anything productive at work, & you canít look at porn. So you make a comment & fulfill this desire to show yourself off as a smarty-pants.

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    Senior Member LuNaR's Avatar
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    Quote Originally Posted by pemberly View Post
    so you bought the books AND paid for the test? pretty penny.
    yea lol o well, O WELL!

    stahp reminding me
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    Now I'm going to take Level 1! This Dec.
    nytimes: Every hr you have 10 minutes where youíre not doing anything productive at work, & you canít look at porn. So you make a comment & fulfill this desire to show yourself off as a smarty-pants.

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    Quote Originally Posted by pemberly View Post
    Now I'm going to take Level 1! This Dec.
    A bunch of people here took time off a few weeks ago for the CFA.

    Are you changing careers or were you always on the investment side? Are you a CPA?
    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?

    -KotOR

  14. #14
    Senior Member LuNaR's Avatar
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    Quote Originally Posted by pemberly View Post
    Now I'm going to take Level 1! This Dec.
    ahahaha good luck
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    Quote Originally Posted by darkcser View Post
    Are you changing careers or were you always on the investment side? Are you a CPA?
    i was never a banker. i just finished my mba from a fancy name brand school and am unemployed. take that employment statistics! so i'm trying to make myself more competitive, refocus, and hopefully find something else soon. i was always in marketing, but i don't really want to do that anymore. my favorite job i've ever had was marketing in a private equity company, so hopefully my new career will have all the aspects i enjoyed from that job.

    let me know if you know of any opportunities!
    nytimes: Every hr you have 10 minutes where youíre not doing anything productive at work, & you canít look at porn. So you make a comment & fulfill this desire to show yourself off as a smarty-pants.

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    Quote Originally Posted by pemberly View Post
    i was never a banker. i just finished my mba from a fancy name brand school and am unemployed. take that employment statistics! so i'm trying to make myself more competitive, refocus, and hopefully find something else soon. i was always in marketing, but i don't really want to do that anymore. my favorite job i've ever had was marketing in a private equity company, so hopefully my new career will have all the aspects i enjoyed from that job.

    let me know if you know of any opportunities!
    We just went through a hiring frenzy the last couple of month adding another 10 people to our 150 or so. The current open positions are all either technical or require a CPA.

    How's the whole MBA networking angle?
    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?

    -KotOR

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    Quote Originally Posted by darkcser View Post
    How's the whole MBA networking angle?
    it kinda sucks. most companies hire directly from specific schools, so if you didn't go to one of those, it's hard to get in. you're limited to the choices at your school, which especially sucks if you didn't go to an american school. i have it a little easier than some because i'm female, looking for a job in predominantly male industries. ie, there's minority and women specific networking events. i'm having an especially hard time because i'm changing functions.
    nytimes: Every hr you have 10 minutes where youíre not doing anything productive at work, & you canít look at porn. So you make a comment & fulfill this desire to show yourself off as a smarty-pants.

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    Quote Originally Posted by pemberly View Post
    it kinda sucks. most companies hire directly from specific schools, so if you didn't go to one of those, it's hard to get in. you're limited to the choices at your school, which especially sucks if you didn't go to an american school. i have it a little easier than some because i'm female, looking for a job in predominantly male industries. ie, there's minority and women specific networking events. i'm having an especially hard time because i'm changing functions.
    I've always wondered what positions people with MBAs typically end up working in. Most MBAs I've come across were managers with 3-5 direct reports or individual contributors.

    Did your MBA program have a brochure with salary distributions of various graduating classes? I vaguely recall seeing one for Babson a couple of years back.
    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?

    -KotOR

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    Moderator pemberly's Avatar
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    i think the statistics are for 35-40% of MBA grads from the top schools go into management consulting. People who go into cpg marketing become assistant brand managers. Others go into various sectors of finance, I'm not sure at what level. Some become product managers in various industries.

    Almost all business schools have some kind of salary distribution for grads. But those are always a little inflated, because 1) they only count the people who responded, and most people who aren't earning very much don't respond, and 2) people lie. Ours were a little further inflated because the years right before I went, the euro was riding pretty high and the figures were in USD, and also because a fair number of students from my school are sponsored by their companies.
    nytimes: Every hr you have 10 minutes where youíre not doing anything productive at work, & you canít look at porn. So you make a comment & fulfill this desire to show yourself off as a smarty-pants.

  20. #20
    Senior Member LuNaR's Avatar
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    what are u trying to be lisa? management consultant?
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