Only 25% Passed This Year's CFA Level 1 Exam
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- Опубліковано 17 сер 2021
- The pass rate for the Chartered Financial Analyst Level I exam administered in May was the lowest since testing began in 1963. Only 25% passed the latest test, down from 44% for those who sat for the February examination. Bloomberg's Eddie van der Walt is one of them. He's on "Bloomberg Surveillance: Early Edition." (Source: Bloomberg)
![How I Passed the CFA Level 1 Exam [+95th Percentile Scorer?]](http://i.ytimg.com/vi/DhXMBF2b5go/mqdefault.jpg)
![How I Passed the CFA Level 1 Exam [Top 10% Scorer]](/img/n.gif)
300 H hours for studying each level?? if that would be true i would have been twice a charterholder now
It depends, just do you. I have no finance background, but 4 hrs a day for 6 months to pass level 1 and 2. 90th percentile score also. People who put less hours generally have already spent hours on an academic program
@@federalfreemoneylackofrese9937 dude, some advice? Ill be done with the curriculum with 1 month to spare. I feel like ive forgotten much of fixed income and FRA. Do you recommend I do them again, or just do mocks?
@@devanshrathore9112 The reason you are forgotten is because you are relying a lot on memory. There are too many formulas. I focus more on the concept and deriving the formulas so I can free up my brain on exam day. With one month, I would practice only and review problems I don't get. Don't care about what you get wrong, just make sure you understand them after you get them wrong. Too late to read, Mocks and the question banks, EOP also
@@federalfreemoneylackofrese9937 thanks.
I spent at least 1000 hours for each level. Just passed level 3 this Jun
I spent like 100 hours for each level and now passed all three. My recommendation would be: 1. rely on the books, not on notes. Most of the notes covers only parts of the curriculum and you're deemed to miss about 20% of the content that would exist on the exam, which could be very critical. 2. Always do the exercise on the textbook. Maybe only part of it, but never assume you know it and skip it. You only find out what you need to learn after you actually did it and got stuck. You'll miss a lot if you just think you can do it without actually doing the exercise.
This is really solid advice. The Kaplan notes are great for review, but I wouldn't learn the material on them. Also, the Blue Box questions (CFA Candidates know what I'm talking about) are critical. A lot of times, they cover very testable subjects that aren't covered elsewhere. Great example is Level 3 questions on Bank capital and risk. You won't see a question on that outside of the BBs but almost every practice exam (and a lot of the past exams available online) have essays on it.
I call bullshit no way you can remember everything in under 100 hours for each level unless you’re some sort of genius
@@XDiZzYX911 He is Chinese
Learn to give real advice
Agree
Just failed level 2 in august. It's so fkin hell to go thru it. But I have no other choice. Wish me luck for nxt year
The more CFAs in the market, the more opportunities in the market.
Please keep spreading standard knowledge.
Wat, how does that that work?
Man I did the CFA level 1 exam for the second time in August 2021, and just learned that I didn't pass. The pass rate was 26%. I must have put up to 900 hours in total for both levels. I did everything that was recommended: studied 2 to 3 hours each day for many months, did up to 10 mock exams for each exam and took 2 weeks vacation before the exam to study my guts off, 10-12 hours every day until the exam. Honestly, what's the point of making an exam so hard? I repeat, the pass rate in August 2021 was 26%. I blame the CFA Institute for mirroring hope to entering candidates that being a CFA charterholder is accessible and that it can be done with 300 hours of study for each level. This is NOT the case. If you want to start the CFA journey, I strongly recommend to get several years of experience in the finance industry before, and read many, many, many finance articles. Otherwise, you're way better off with an MBA. It however teach me how to study, like really study. But at what price?
Meanwhile there are many young influencers posting videos about pranks, makeup, outfits, etc. and bringing in millions of dollars in income.
dont hate the player.. hate yourself
very cool piece i loved this!
Meanwhile CA students from ICAI.
What's the big deal!
😂😂😂
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$ap, can't stop thanking him
It's my first time am so scared right now
@@michealjones198 Wow I've heard so much about he's good works but has not been opportuned to get him what's he's what$ap number please
Wonder if there is incentive for the CFA Institute to make it harder…. ‘We want single digit pass rate, we want getting into Ivy like getting to a community college when compared to passing the CFA’
lmaooooooo
Lol. It already is. Crunch the numbers. Passrates are generally 45% (or so) for Level I and II and about 54% for Level III. Only about 10% of candidates (less after that disasterous level I) pass on the first attempt. Only 25% finish the program. Mind you most of these folks already have Bachelors Degrees and are already in finance in some capacity. So that's already a very select subset of the population.
They didnt explain nothing but many people think cfai want to get more budget from candidate. Cfai couldnt take register fee enough in 2020 because of covid19 cancellations.
@@JP-wd4ve I don't think so, I have no clue, but I guess, the Covid-19 give people more spare time and care about financial market, then they decide to enroll CFA program, but likely don't invest enough time and effort to study.
My favorite part of this video is the image of Jared Dillian, rocking a legit Gordon Gekko hairstyle. The 80s, and greed, are back in fashion.
No exemptions that I'm aware of from any finance university credited courses, including masters, make it a difficult qualification to pursue.
Need more lockdowns, i m sure it will make grades increase
... what are u saying 😅😅 lockdown is one of the reason why the rate is low
@@icecream6680 sarcasm bro😎
Another way to look at it would be this: of the people who started studying last year, just 4.5% will have their CFA after 3 years (25% pass level 1, 45% pass level 2, 40% pass level 3). Typically the 3 year completion rate is a not so astounding 8%. Law school and medical school has a higher completion rate.
This assumes they are independent... does cfa cover probability!?? 😜
Of the 25% passing, I'd bet 70+% pass the next level
@@kptrzk9398 It's called conditional probability and yes it's covered in Level 1 ironically.
Given that you've passed level 1, your odds of passing should be around 40% at level 2, in which case if you looked at independent probabilities (for which data doesn't exist since you can't take the level 2 exam without passing level 1), you're odds of passing would be even LOWER. Maybe 10% for level 2, 5% for level 3. That's one way to look at it
@@kptrzk9398 wdym? you can't take level 2 without passing level 1. 45% for lvl 2 is obviously only for those who ALREADY passed level 1.
let P1 = pass level 1. Then P(pass all 3) := P(P1*P2*P3) = P(P3|P1*P2)P(P1*P2) = P(P3|P1*P2)P(P2|P1)P(P1). The probabilities for pass rates are exactly those listed above since you only take the next level exam after passing the previous one. Thus, "Of the 25% passing, I'd bet 70+% pass the next level" makes no sense.
I’d say this is similar to all financial related institutions, roughly only 3% of all accountants who are qualified by education. Going from AAT Level 2 to chartered or certified accountant (ACCA,ACA, CIMA or ICAEW) will take roughly 8-10 years
Cfa institute is a money printing machine
A lot of candidates who are practising very hard but do not pass, fail a critical aside - they do not work on recall-and -retain element of the formulas and merely rely repeatedly on their "cheat sheets" of formulas whilst doing their practice. This does not help much but they must rather devote 15 or so minutes every other day to recall formulas on a specific topic on a BLANK piece of paper, and then match it to the formula sheet. This way they'd be able to embed the formulae in their minds.
CFA is worthwhile if you want a career in capital markets
Does cfa open doors for investment banking?
@@titusglenn3146 yes
@@cemiluguven what's useful for IB
CFA is useful for IB in 1) M&A transactions and advisory 2) asset research
@@titusglenn3146 I had a phone call with a JPM IB associate a few weeks ago and he told me that the CFA is worthless and “irrelevant in IB”. The CFA designation doesn’t make you any more valuable in IB according to him.
My advice, do not rely solely on the packaged CFA study materials from Wiley. Its cumbersome, too professorial, and a huge time waster. However, I wouldn't ignore it, but you definitely need to complement it with something like Schweser, which is far better and to the point. This is especially true for levels II and III.
There is no big deal.....in ca final one subject is of 300 hour.
300 hours are nothing a lot for Indian student Indian students studying more than 7-8 hours a day some them are studying more than 13 hours a day 300 can be done within a month
It’s 22% now for July
I studied for over 1000 hours for level 1 and got me above 90 percentile in the Feb 2021 exam.
1000??? Why?
@@pneron2032 one word: Indian.
@@devanshrathore9112 Lol. 1000 hours is overkill.
@@pneron2032 beats failing.
@@devanshrathore9112 True. But time is money. 500 would have more than enough, and the other 500 into a business venture.
looollll 4 years undergrad 4 years cfa and its a good start lmao this society going to shit
You can complete cfa in 2 years of you clear each level consecutively without gap
😂😂😂that’s crazy . All I thought Is that you take it after your masters degree or something. I’m not studying for that . It’s too much more to life .
Just work and get lots of experience as a CPA switch to finance jobs then get your masters in finance and network ....it aint worth the stress unless you want to go strictly into equities and portfolio management
So you are not going to be hired as a hedgefundmanager doing the CFA
CFA: 42% pass rate
JEE: bruh
What's JEE
@@habibbialikafe339 Engineering entrance exam with pass rate of 1%
@@targetjee6617 omg thats insane
@@habibbialikafe339 India has high population so you can understand
@@targetjee6617 passrate is definitely not 1% most of student pass. Only1% score 99 percentile plus and get into Top engineering college. Here we are talking about passrate which is 10% not the percentile scored which is considered after passing out of those 10% who passed exam
I wrote the July exam....this is my first yt suggestion at 1 am ...wtf is life telling me
Check out ICAI Chartered Accountancy exam
25% will seem high
Indianization.
Broo 25% seems very high in comparison with ICAI result 😂
if we thought that was low before..today 22%
Probably disrupts in ADHD meds supply chain.
Does any of the CFA holder holds a multi billion hedge fund? I couldn't even find one. Warren buffett, ray dalio, larry flink, david einhorn, jim chanos, bill ackman, carl icahn, etc. None of these famous funds manager have a CFA in their belt. So why waste time on a finance encyclopedia?
That is pretty good compared to lots of others.
Eddie seems like lacking of sleep. Passing that level 1 seems right.
why only selected handsome to pass, not so difficult than those aviation calculation for weighted about a planet
Meritocracy...Wall Street also has middle class...
Sour grapes...
Stop exagerating.. I'm a PhD student in International Economics and I don't think CFA is tougher than PhD... Yet PhD students dont complain as you guys. I plan to sit for the CFA exam next year and I know I shall make it at my firts attempt. I mean all the three levels!!!
It’s probably low because Indians didn’t attempt in May due to the Covid 2nd wave
Ok, instead of giving any counter argument, let me just ask this.
Had Indians given the CFA L1, assuming they would have passed at the same rate as previous years, what would be the global pass rate? Would it be adequate in explaining away the difference in pass rate compared to previous years ?
July rate is also low 22%. Indian, covid19 and other things can be reasons but true reason is cfai changes criteria higher. Of course this is just my thought becasue they never explain.
CFA !
Colossal waste of time, like most of the financial investment industry
...bitter?
@@pneron2032 nah, killing it in crypto. You
@@pneron2032 nah, killing it in crypto. You
@@Jay-xr3sb Well, you're headed for a colossal fall.
@@pneron2032 you sound bitter, playing with profits here
I hate CFAs that's why I work in consulting now lol...
Like he said completely waste
How so?
@@AlexHendershot becasue all newbie investors especially crypto investors will rub all their easy profits in your face and make you feel at a lower level than them.
lol i passed level 1 when i was 20, definitely not 300 hours,
I thought u can only appear for the exams upon graduation. At least those are the rules on the CFA website u have to already have graduated college. Albeit they require minimum proof
@@shaheedbhaghatsingh3974 no if u r in final year of school ur OK.
@@slvgld7296 no still works at Wendy's
@@jaypeng6860 Yea should have invested in BTC instead, spend those 300 hours of wage from working at wendy's into btc would have made more than any upside potential the CFA would have gotten you for the entirety of your potential career.
@@jaypeng6860 Didnt u need working experience to take the exam? Thank u just asking :)
CFA exams are getting easier but the MPS (minimum passing score) is getting significantly higher... CFA Institute realized the pass rate was way too high and with only 3 answers to choose from on the multiple choice questions, you have a 1/3 chance of guessing correctly... combined with the MPS falling below 60% and the CFA was quickly losing its value.
This is a good move by the Institute.
Money maker!
meanwhile CA students...hum kya kare suicide 😂🤣🤣
this exam is dumb