How I Passed all 3 CFA Exams on the First Try - Now What?
ฝัง
- เผยแพร่เมื่อ 25 ส.ค. 2024
- Discussing my philosophy regarding the CFA exams, reflecting on the past few years, and what I'm looking forward to now. Passing the CFA exams has been one of my highest accomplishments. I'm excited to be moving forward!
If you have an idea of something you want me to cover in depth, please let me know because I take your requests seriously. Will be back with more CFA Exam tips in a couple of weeks so please submit more questions you would like to hear answered. Love you all!
Please SUBSCRIBE for new videos every week! ▶ / @straighttalks-ajsrmek323
Contact Email: StraightTalksBusiness@gmail.com
Twitter: / asrmek
LinkedIn: / aj-srmek-cfa%c2%ae-cfp...
Patreon: / straighttalks
TikTok: www.tiktok.com...
Webull: act.webull.com...
** The information in this video is not intended or implied to be a substitute for professional financial advice. All content, including text, graphics, images, and information, contained in this video is for general information purposes only and does not replace a consultation with your financial or tax professional**
I passed L1 and L2 first time, but skipping L3 this year as we just had twins. My advice to all L2 candidates is to not be intimidated by it, it’s really not that bad. I didn’t go to college/uni, and I can barely do basic algebra, and I passed. It’s challenging, but it’s like a marathon, it’s all about the preparation. Anyone can do it if they have a plan and stick to it.
How can you skip a level? Like do you need to inform the institute about the same or we can take level 2,3 as and when we like.
The thing is I need CFA level 1 as a resume point but feel that level 2,3 is not my immediate need.
Please help.
Aritra Saha you can take it whenever you want. I did level 1 in 2017, and level 2 in 2019. I met one guy who did level 2 in 2011 and level 3 in 2019.
Level 1 is useful for your resume, but it won’t make much difference. If I saw someone who did level 1 only and didn’t go any further, I’d question it.
@@vivivi14 work experience i assume
L2 seemed the toughest to me. passed all 3 on first try, but i was most distracted then (studied in vegas/played poker) (fwds/currencies blow). advice on lvl 3 is to spend extra time on the essay qs in study. you can pick up on a bunch to use on MCQ.
Victor Rivera no, work experience can suffice. I’ve got 20 years in the industry.
As Don Draper from Mad men said "What is Happiness? A moment before you need more happiness". With anything in life, the future will always be more exciting than the past.
Just passed cfa level 3 and here to encourage everyone that nclex is not as hard as assumed, just work smart and you would pass
Congratulations
Any tips please
@@kylesmith6708 To be frank I wouldn't have passed without the help of Mr riq whom I linked up with on what$ap, can't stop thanking him
It's my first time am so scared right now
@@anikawall7525 Wow I've heard so much about he's good works but has not been opportuned to get him what's he's what$ap number please
Congratz, man! Just started my studying journey. June, 20 here I go!
best of luck man. it feels like it wasn't that long ago I was just starting, but it also feels like ages ago at the same time. Weird.
Straight Talks lol 😆
Hey man hope you heard, June has been delayed to Dec due to coronavirus. Sorry for the bad news. Best of luck!
@@colbygillies8896 I think they haven't posted the postponed date yet. I might be before Dec, I guess! B'coz they emailed as they will be notifying not later than last week of May and are trying to reschedule it ASAP. They did not mention that it will be held in Dec. But I just hope that delay would not effect it to Dec. What say?
@@durveshkulkarni2247 It was mentioned the earliest possible date is during December.
Man I’ve been thinking to do the cfa for a while now this is some motivation. Congrats
have you come to a decision? similarly here. Thinking of just jumping because anything corporate finance/financial manage was a glide but this thing scares idk
Do it girl! I’m planning on doing it too once I graduate uni 🙌🏾🤞🏾🙏🏽
Let’s get it!
i love how you pointed out that you were consistent with studying 3 hours every day and stuck with your schedule...like you easily could have only studied for an hour and a half and then went out with your friends but you didn't do that...it's great work ethic you got there and congrats!
From November to June is 8 months.
3 hours/day, 6 days a week (18hrs/week).
4.25 weeks/month
76.5 hours/month
8 months
612 hours to reasonably prepare for the CFA. That makes sense. People that pass the first exam usually retook the exam, which meant they studied for 600 hours instead of 300.
I am glad that I am having the same mindset as you. 146 days left right now before the test. I don’t think I am going to pass the first time, but I think one of the things that people don’t realize is that most people AREN’T meant to pass the first time. I have 6 tries for each exam. The difference between the guy who quits the CFA and the guy who has one is the guy with the CFA shows up 6 months later pass or fail and is ready to go take the next test. That’s exactly why I am taking this exam.
Best of luck studying!!!
Very well articulated. I passed level 3 in 2019 and then received my charter. And i feel exactly the same way.
So were u able to secure a high paying job/dream job?
Congratulations 🎉. I cleared level 3 back in June 2017 and gave level 1 exam in Dec 2015. I know the feeling of clearing all of them in the first attempt.
Bro can you share your contact details
I heard that every level has importance unlike CA. If you clear level 1, you will be likely to get job level 1 exam basis. Is it true?
@@TameemDalvi yup
Congrats
Damn I passed level 3 in June 2019 and I feel that emotion of people congratulating you but not really knowing what you went through. I’m in a similar situation. 48 months in May 2020 and I can’t help but feel underwhelmed so far. :/ hopefully that changes when I can hang that big ass charter on my wall
Would u Recommended sitting the CFA if you don't know exactly what you want to do later on in life after university?
@@JC-ce8uw No I would not. You have to be borderline obsessed with passing. At a minimum you are looking at 900 hours of study and thousands of dollars in costs. I have friends who have finance degrees that "wanted" to pass the CFA but were not obsessed. They failed level I or passed level I and then gave up. If you truly don't know what you want to do, I would say your money and time are better spent elsewhere.
Hello, I need advice on how to start with the whole process of enrolling or registering and where to get past papers to practice with?
@@JC-ce8uw no! It could be a big waste of time if you aren't going to work in finance.
@@pearlmnyebeleza3231 You should just use the resources on the CFA website.
I passed L1 in May on my first attempt! 38% pass rate and just below the 90th percentile. Really appreciate your videos. It really helped me in choosing to pursue the charter.
I like you're honest, I wish you all the very best. I am having level 3 CFA next week exam. :)
Thanks! Best of luck on Level 3!!!
Great insights, and congrats! Currently a L2 Candidate for this December 2020 hoping for the best haha
cheers!!😄
Congrats brother. Know its been a while since you have passed, but it remains a great achievement... Planning on getting started with my 620 hours this coming week. Wish me luck.
You got it, Coenraad!
Best of luck!
As a level 1 candidate who is giving the exam this December, it's nice to hear your perspective on this. Shapes up my expectations
hope you did well!
@@straighttalks-ajsrmek323 I did! I passed my level 1 in first attempt. Now I'm taking a break now for level II, going to complete my bachelor's this year then give it in 2021. Is there any advice you'd like to give?
@@darkfeeels See you in 2021 for Level 2! Following with regards to any advice for Level 2
The only reason you, or any other person does not feel excited is because you have levelled up.
Haha i like this theory!
Great Job Man. Congrats!
Way to go.
Thank you for sharing your experience that is really encouraging, I appreciate when people share their experience and encourage others, thank you -rook
🔥
Congrats bro, i look forward now to one day soon do a video like you do now after passing level 3
As a Charterholder for 10 years, i can tell you that most of your return is ahead of you.
Good to know, thank you!!!
Congratulations!!!
Great, congrats man.
Thanks for sharing your views on this
When I was 23 I did a lot of useless crazy stuff like hanging out with friends and working in films.. now I'm 32 and I'm considering doing cfa all levels, I'm just not sure if working in a different country as a cfa is worth it. I'm currently trading full time in stocks in the Indian markets. Not sure if doing cfa and moving to a better country like canada or usa(my sister lives there) is the right thing for me. I'm really happy that you achieved this at such a young age. Really happy and proud of you. Congratulations man.
Hey I'm from the UK Also turning 32 this year and just started cfa level 1 studying full time! Hit me up if you want to connect over course material
@@SpaceForce786 ,hi I'm 42, giving my level 1 in Dec 2020
@@SpaceForce786 hey I am preparing bat the moment for level 1.
32 is still young! If you want to work in finance I say go for it.
@@straighttalks-ajsrmek323 I enrolled a while back. I am going for it. I keep telling myself, life is all about making mistakes so we know how to do things the right way. Thanks a lot for all your encouragement. This means the world to me.
I cannot believe that the video was about how you felt after you past ...yet well done! And setting a realistic expectations for me if I am ever gonna pass it. Now I have to watch your other videos now haha
Absolutely!
@@GradyCool Now I passed 2 levels both in the top 10%! Great to see my resolution 2 years ago coming true!
@@hzhuhugo congrats!
@@GradyCool thanks man!!!
I am confused about the dislikes......I guess those are the people who thought you were going to give them some magical answers that would help them to pass.....
Congratulations!
Great effort and congrats.
great job ,congrts
Great video!
Thank you so much for being so humble :) It is a great life lesson.
congrats! Right now I am studying for Level 3. I recently uploaded a video on my experience with levels 1 and levels 2!
Gangster! This is a goal of mine.
Congrats❤❤
Congratulations 🎉🎊🎈🍾
Claudia Pastora Hdez do you want to study for CFA together? I’m in NY
Lionel Sukhram I would be happy to, trust me. The thing is now I am doing a Masters in Accounting and working full time. I hope to continue doing the CFA when I am done with the CPA. I did already pass L1 of CFA.
Lionel Sukhram I would be happy to, trust me. The thing is now I am doing a Masters in Accounting and working full time. I hope to continue doing the CFA when I am done with the CPA. I did already pass L1 of CFA.
Claudia Pastora Hdez okay no problem, I need to take Level 1 CFA in December anyway
How I wish I could nailed it too. I just bought the books and thinking to register for level 1 this coming Dec2020,. Congratulations!
Best of luck mate.
@Jena do you have the notes
Hey man Congrats on passing your CFA tets!!!
I'm an accounting student from South Africa, currently doing 3rd year in university and I'm suffering from a burnout... To honest im repeating this year 'cause I failed in my first attempt but my second attempt doesn't seem to be getting any better... Any advice?
Give it hours and do plan it out. Give weekend to go back to what you have learnt. It'll help retain whatever your studying
Just going through material isn't enough, since it's such a vast material you probably won't be able to retain it. So revision for me is the key and maybe for you too
Good Luck for December
Good luck Luvo. The best advice I can give you is to study more hours than last year.
Really see if accounting is what you want to do.
I am from accounting as well, hated it to the core but you gotta get out ASAP by passing!! If you don't pass, you can't get out of this accounting hell hole!
Just stick with it and be persistent
Thanks for the video. What I got out of it is, if you put in the time, you can do it. It might be 300 hours, might have to be 600. But you can do it.
This is pretty close to my opinion, but watch my video on IQ.
Congratulations by the way. !!!
Congratulations bud
you speak nothing but the truth big brother
Congrats. Nice video. Thanks a lot.
Seems like this is more of a personal accomplishment that only you & a select few can understand. Remember you did this to prove to yourself that you can do it & that’s all that matters. Just make it count
Very true, thank you!
@@straighttalks-ajsrmek323 would you ever go for the CPA to add to your CFA? It seems like the senior financial analyst work/report w/ the CEO/CFO & knowing me I would like to strive for the top of a company & a requirement for the CFO position is having your CPA.
@@straighttalks-ajsrmek323 haha I basically just found a helpful answer in the comments under one of your vids
I think a lot of what you said in this video is very true. Hours in is a powerful tool.
If anyone is looking for more first hand experiences with the CFA, I just made a video about why I chose to the CFA and what my journey has been like.
3 hrs a day!!! Wow! Congratulations!
Congrats Hope to pass the exam like you! your video really motivate me thanks
I'm glad I could help!
Very happy for you bro. I am thinking about enroll into the program but still need more advice and vision about its career and its benefits.!
thank your for the video and Congratulations on this huge achievement!
Best of luck!
it's been 6 months since u cleared cfa so I'm wondering is it helping u career wise or are u still stuck at the same job u were doing before
I can make a video about this!
@@straighttalks-ajsrmek323 please do as I've just started my journey.
Hi AJ, I wanted to let you know that I cleared CFA level 3 this February. I love your content because it is genuine and relevant. I also wanted to point out that the title of your video should have been "The 2023 Level 3 CFA Exam Had the Highest Minimum Passing Score EVER!!" The current title is misleading because one word can change the meaning of the sentence. Could you please rectify the title for the viewers?
Congrats, i just got a Master of a
Finance offer and it seems a good idea to get top on things like CFA and such. Watching your video gave me a picture of what i need to face. Thank you for making this video.
Where are u going to do your MSc in Finance?
@@dees900 So far my plan is going to UIUC and I have paid the reservation fee. But I am still waiting for the final decision of Northeastern, UCSD, JHU, Rochester and WUSTL. Do you have any comments on these programs? Please share if you do, XD
Happy that I could help.
@@straighttalks-ajsrmek323 Thank you man.
Congratz, man!
thanks, appreciate it.
Good luck dude
Congratz mate!
thanks!
Congrats brother ♥️😍
Thank You!
Not all heroes wear capes
Me, my sister and my brother have all passed all CFA levels in first attempt. Feels good but nothing extra ordinary.
Do you have study notes?
@@irtizakhanutmanzai5891 I passed in 2005. My sister probably passed in 2009-10. My primary method was to do 2-3 readings minimum of syllabus by the time of exam. For level 2 and 3 better start 6-9 months in advance. Divided syllabus into 3 categories - Easy, Moderate and Hard. First round only focus on Easy and Moderate. If you end of finishing 3-4 months before exam then dedicate some time to hard part. Last 3 of 4 months do a more comprehensive revision. And last 1 month do 1 more revision. If possible, do a very quick revision in the next last 1-2 weeks.
@@rasheednarejo5941 I'm doing MBA in finance rn, would it be a wise option to op CFA along MBA?
@@rasheednarejo5941 what do you suggest should I go for CFA & MBA separately or I should continue with what I'm willing to?
@@rasheednarejo5941 so what are your siblings doing now are they successful in their careers in wealth management or this cfa degree doesn't hold any weight?
congrats :D
Thank You!
Very good!
I'm a level 3 candidate, can strongly relate with your point regarding how very few people understand and appreciate the rigour and sacrifices it takes to pass all levels (especially if you're studying from the curriculum and working at the same time). Indeed the journey seems more fullfilling than the goal.
Everyone that I have spoken to that has both the CFA charter and a masters, felt that the CFA exams were more difficult.
Just passed my level 1!!!! 🤗
Congratulations!!!
Congrats.
I passed Level 1 in 2010 and failed Level 2 in 2011 with Band 9. So, missed it by a few questions. But, after that, I walked away and never pursued the designation. I am in commercial banking and having this achievement means nothing to my employer. Plus, I remember the emptiness after passing the CPA exams and knew that I would experience again only after investing several hundred more hours. I wish anyone else reading this does not experience what I felt, but it is just a piece of paper.
So CFA is useless in commercial banking?
L2 candidate here. Can relate a lot with what you mentioned. Let’s just hope for the best 💪🏻
coool, i am studing the level 2, so tired
Your brain needs sleep to remember what you are studying!
Hey :) you probably have no idea how much this video means to me. I was worried about schedules but listening to your experience is making my plans more clear as well. I literally just started yesterday and so far I am just excited to start. I am going to aim for level1 this december, and then June 2021 and June 2022 for the next levels. Thanks!
I'm so happy I was able to help you start! Thanks for sharing this.
Thanks for the positive speech! I have been hearing too much negativity lately. Can you make a video about doing it after getting into a managerial job and then shifting into relevant fields(after cfa)? Thanks.
I have a video pretty close to this topic, at least for how I used the charter.
Just to add on to it the pass rates are understated and less understood. The actual pass rate for somebody who has been through all the the 3 levels in their first attempt is less than 9%. For somebody who takes the exam multiple times to pass , their pass rates varies between 12-18%. No matter how many times you take them. And for the record the institute's s website information, there are a little more then 3.2 Mn candidates who have taken the exam so far since inception and only 159000 of them are actually Charterholders. That is 5%.
Starting my study plan today but having no idea when i can take the exam due to the corona virus :( But thanks to your sharing experience! :) GL
Best of luck!
I didnt manage to get some when i got my charter
Hey man, thanks for making this video. I know it has been a year already but congratulations on completing all 3 levels, that's a massive accomplishment. I'm only on my 2nd year BBA Finance and I also wanted to get the CFA once I finished school. I have lots of burning questions I would like to ask from someone who's been there such as yourself. Would it be OK to connect with you, perhaps email? A financial journey advice would be much appreciated. I'm not young either so I'm already mapping out where I wanted to go. And it's seems to be pointing at investment management at the moment. Please let me know, thanks. God bless!
Sure thing, Lloyd. Send me an email and we can get a time for a phone call.
Best of luck!
Tku God bless you !
Wow never heard of anyone study so much for an exam... Also a CFA chartholder here and I didnt spend anywhere close to 600h combined to pass all 3 levels... No genius here either but if you have a finance background these exams are definitely doable like most university exams with a good month preparation. I personally thought my master degree in finance was a lot more difficult than passing the CFA which actually have quite a high pass rate of 30-50% (way higher than some other speciality exams).
The CFA program as a whole has a pass rate much lower than you mention here.We don't know what it is exactly but the institute has only said "less than 20% of candidates that enroll in level 1 eventually earn the charter"
Amazing
Thank you! Cheers!
What job are you doing I’m looking to start my journey , I’m not currently not working
I will make a video on this topic
Am currently looking for a job as well as am doing my last semester for my Financial management.
Congrats, man! I wanted to know how could affect the CFA charterholder to your working goals such as money, more responsabilities and a more comfortable job? Tell me how you feel!
thanks! Check out my career after CFA video.
It can help get you access to more technical and advanced jobs but it really is what you make out of it
Thanks
Suggest us some of the books that you've gone through and also guide us the way to learn and practice like you did.
I don't read too many books. But check out my other videos for study tips.
Congrats dude! Me too) 2017,2018,2019)
Congrats on passing all 3 levels! I’m taking the L1 this December but because of how scared I am I’ve started to study already. However people on reddit have told me that this is not ideal; they said it’s better to squeeze the material in a shorter amount of time so you don’t forget the earlier stuff you studied. What’s your take on that? Thanks again
I found around 6 months be a good period of time to give yourself.
I think 6 months might be optimal, I did 8 months. The MOST important thing is that you review well in the final weeks before the exam to practice the material you may not have seen for a few months.
Holy shit I've never studied anything for 600+ hours! Think I'm gonna go at it like I have every other exam. Study last minute and wing it.
You will not be able to pass a CFA exam with that plan.
I also did the CFA program and in the end I have realized that it was a amazing waste of time. Learning languages was way more helpful, as it enables me to expand my network and helps me more in any aspect.
Kaloyan Katrev which languages most?
@@paulguimond5713 Russian, Mandarin, German, Spanish, English
I think you are correct on networking. But I would say CFA is a journey in discipline. I’m only level 3 so not there yet. I feel I tapped into another gear doing this. So not waste of time. Unless I die tomorrow haha. Spanish is my goal , German and mandarin would be stretch at this point. Thanks for sharing.
I can see how learning languages can be extremely helpful. But the CFA exams are not a waste of time!
The average salary of CFA holders is $300k and median salary is $180k. Definitely a worthwhile investment of time.
So what do you plan to do with you CFA? Investment banking ? Is that what you do currently?
No - check out my videos about my financial advice career!
I am writing in february 2021 computerized exams.I wish i could write level 2 same year december.
congratulations! what microphone are you using? the sound recording is excellent!
Just using the built in mic on the Microsoft surface pro 4
Tips for remembering all the info? And how did you ace the exams did you go through lots of mocks beforehand?
I think the best way to remember is by repetition. And yes I did about 16 mock exams before each level.
I'm preparing for level one and I'm anxious if I'll pass or not but I'm just studying and focusing on the curriculum! This video sort of helped! But that TV in background is kind of distracting 😂
good luck on level 1! And thanks for the comment about the TV.
I'm a get it
Best of luck man!
If you get a bachelors in finance, do you take this after? Is it suggested to get a decent paying job after graduation
bump
You can take Level 1 before graduation college but I believe you need to have a degree to take Level 2. You would take the CFA exams if you wanted to work in a related field and you decide it is right for you.
Started by CFA and FRM
Please I need assistance... I would like to take the CFA too
May I ask you how old you were when you passed the level 3?
23!
Wow..congratulations,I would like to enroll but I dont even know where to start.what gives me anxiety I think is where would I get past papers to practice with?
Kindly help step by step with the whole process if you can please!
👍
The CFA website gives you topic tests and a past mock exam to practice, if you need more you can get some mocks through third party providers like Wiley and Schweser. The only level I found I wanted more mocks for was level 3 (because I wanted to practice the morning written part), and I found an exam bank with a bunch of past level 3 morning exams, if you get to level 3 and want that, let me know.
I got the practice tests from Wiley
I used my spare time while deployed at Mid-East to sutdy and then passed level1 with a score way higher than top 10% line. Now I feel level2 and 3 won't be hard at all.
If you scored that well on L1, I personally think you should have a pretty easy time with L2 and L3 as long as you study like you did for the first one.
Straight Talks studying for L2 and FRM now.
I finished a bachelor in actuary science last August at age 31 after a life time of bartending , my Gpa wasn't great and i don't want to dedicate 7 years of my life to actuary exams, and i have 0 experience, I am completely lost. I just started studying for CFa 1 to take in june, and I am hoping to get an entry job in finance and take it from there . Am I thinking straight ? Any advices ?
Practice and do a lot of tests, good luck, we. Have enough time for good preparation
What do you enjoy
Unfortunately tests have been pushed back to December because of COVID. You do not need a CFA to go far in finance. It really depends on what you want to do. A CFA will really help in areas like investment banking, corporate finance, or becoming an analyst.
don't spend time studying CFA to get a job, your time will be better spent networking and applying for jobs.
chapeau!
Can you suggest what study materials should I use to pass CFA lvl 1. I purchased schweser notes to start my lvl 1 preparation.
I used Wiley and liked it. But CFA blue boxes and EOCs are the best practice i think.
Thanks for that honest talk. Please share what kind of job does one typically get involved in after becoming a CFA
Usually a job related to buy side investment management.
Is it me but I feel I'm more distracted by the TV in the background.
Starting my journey this year and if all goes well am writing my first exam in Dec....any tips for me...
I think his time tracking tip is a helpful one. Also mark meldrum has a few you tube videos and in one he mentions two pitfalls: overstimating the amount of time that you have and understand estimating how long it takes to complete each reading .
I have several tips, check out the other videos!
48 months? so you needed 4 years of relevant work experience? well, i'm glad you got that and not just passing all 3 levels
To be honest this is more annoying than the CFA exams. Like I always thought I’ll have my life together once I write all 3 levels, but waiting 4 more years is a lot! Is it really worth all that effort... I wonder