AuthorTopic: CFA seems way too easy
@2009-09-23 14:22:26
I really wonder what you guys stress out about so much. I am studying for Level 1, and it really is too easy. Why does everyone make it seem so hard? I seriously doubt Levels 2 and 3 are much different.
@2009-09-27 14:44:15
Go sell your insurance elsewhere.
@2009-09-29 17:12:30
the level 1 is deceptively hard. the material individually isn't very hard, mostly a review of undergrad, but its when everything is on one 6 hour exam that it becomes hard.
@2009-09-30 10:33:02
undergrad? no not unless you majored in every section of B. school.. the topic material is mba level, and the ethics section you can't even really prepare for. combine that with a minute and a half per question and the pressure cooker is on...
@2009-10-02 01:17:33
I'm an undergrad. Econ. major @ a well-regarded public university--in my experience, CFA Level 1 material is equivalent to:

Ethics--all new material
Alternative Investments--Mostly new to me.
Debt Investments: Mostly new to me, despite an intro. finance class + one other finance class.
Economics--introductory micro and macro courses (6-8 units)
Quantitative Methods--an advanced intro. statistics course, or one lower-div. stat. course plus one upper div. stat course (6-8 units)
Portfolio Management--Equivalent to one good Investment course (4 units)
Derivatives--Straight from the same good intro. to investments course.
Financial statement analysis--I have an accounting background, so am unsure about equivalents. Maybe Intro+Intermediate (6-8 units)?
Corporate Finance--Straight from a good Intro. to Finance course (4 units)
Asset Valuation--Equity: Straight from the same Intro. to finance course

In other words, you can cover most of the material in undergraduate classes.
The LOS material added to all the above topics that I'd already studied--of course CFA Institute has its own focus within each topic.

I'm studying for the Level II test in June 2010 with the help of AnalystNotes notes; this material is definitely above undergraduate-level material. The economics is almost totally new to me, Quantitative takes the level 1 material a half-step further, Portfolio management is a repeat of Level 1, and I'm amazed at the volume of reading on asset valuation that Schweser sent me. Haven't yet opened the FSA book. Am planning to spend an obscene amount of time studying before June.
By the way, good job you guys of this wonderful site!
@2009-10-03 03:56:05
Level I is very easy! But I'm still stressed!

Level one is Breadth, not Depth. So whereas the studying doesn't take much effort it certainly does take time! There is a lot to cover and on the exam you have limited time so you don't have time to "think things through" -- you need to know it cold.

Level I is just to make sure you have a solid base of basic knowledge before moving on to level II and III.

Good luck to all!
@2009-10-05 09:48:35
If you have proper background (I have Honours Econ/Finance and Math degree), then it really is easy. No new material except ethics. Level II is a bit harder, but it's just b/c of some new material I haven't seen in debt instruments. I actually had way to much time on my hands in the first two exams, like 2 hours would have been enough, except for the open answer section in Level II, which takes 3 hours. Not having my two degrees, I would certainly understand how hard these exams can be, since Level I&II are mostly review for me.

However, I'm studying for Level III and it seems completely different. Not a lot of calcs, very soft material. I find it more difficult because it just learning everything by heart. I'll see how it goes on the exam
@2012-09-18 13:59:40
you are in for a rude awakening if you think it's too easy - do not take it lightly - there's a reason 60% of sitters fail.
@2018-10-26 03:55:57
Sounds like a few of my hedge fund buddies who took the Series 65 "cold" and didn't pass.

CFA Discussion Topic: CFA seems way too easy

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I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.
Andrea Schildbach

Andrea Schildbach