It’s a grueling process, one that I’d eschew like the plague. There are those who do and others who plan to do. The CFA exam candidates, although an accomplishment unto itself, falls firmly in the latter of people who’d rather study than dial for dollars. But that’s just one jaded person’s opinion.
Upwards of 170,000 people plan to sit for the exams, which comes in three levels–sort of like a video game. After you beat the first monster, the 2nd and the 3rd level monsters get progressively more difficult. The pass rate varies between 40-50%, depending on the genetic make up and socio-economic backgrounds of the applicants.
It’s funny to see so many people race towards becoming a CFA, considering that investment banks no longer require their services.
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Level I I did years ago and vowed never to go back. So much of it was remembered for the exam and forgotten almost immediately as it was completely irrelevant to managing money and definitely trading.
Agree with Fly… Thousands of people investing large sums of time and money to qualify for positions that are no longer needed in the numbers they once were. If they ever find a suitable position with an investment firm, they’ll quickly learn their newly minted credentials will be exploited by said firm to hoodwink clients into crooked funds that excessively benefit “friends” of the partners.
When times get tough, con artists step up their game.
Taking Level 1 Saturday.