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| *Ostroff, Fair and Company>>>Financial Services |
How Hard Is CFA Level One Exam? |
And I wonder, if I got passed the Level I, would I get access to financial business? I mean, is this exam a must-have one to get a job in financial business? And , how hard is Level Two and Three respectively? thanks Your answers are, in order: - Not mentally challenging, just a ton of material to learn - It would help - Not at all - More mentally challenging do to non-multiple choice (essay) questions and derivatives I passed level 1 as a senior in college last December. I was a finance major and I'm good at test taking but I still had never seen 50% of the material before. I studied for about 8-10 weeks. My school isn't that well known so it helped me land a job because it put the CFA brand on my education and because it showed I had the initiative to take a test people usually don't take until they are in the workplace. As for industry usefulness, you get better business cards and a wall hanging of some sort. The test is a good foundation but is overbroad and won't make you successful at any particular job. I won't take level 2 until next year but looking at the curriculum, it seems to be more about concepts and techniques, not rules or factoids. I took a derivatives course this spring that was rather painful, so it really depends on how much pricing theory (math) is tested. The CFA exam is very time-consuming and the level one pass rate is about 40%. Level 2 is about 50% and level 3 is about 80%. You don't need a CFA to get in the door at most companies, but it helps. |
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