|Author||Topic: passsing on first try|
|what do you think is the probability of passing level 11 on first try?
|Well tha pass rate is about 40%, and that includes those who are on their second try or more. So, less than 40%.|
|Why do you assume that those who pass on their second try or more have higher pass rate than those who pass on their first try? That may not be true.
|You could be right. I made that assumption because i know very few people who have failed an exam more than once. But, those are my aquaintances, who may be more motivated and intelligent than the average candidate.|
|Sometimes I really enjoy reading these posts. Assume entire group's passing rate is 50%, and the pool includes re-take candidates, then the probability of a first-time test taker is GREATER THAN 50%. Argument for this is that if one fails the test the first time around, he/she is probably less motivated or less intelligent, or both. In fact we know 1) re-takers are at the bottom of the previous class and 2) this group's passing rate in the previous year is 0%, so their scoring ability as a group is below average in a general population. Now coming into current year, since the re-takers are below average; that means the passing rate for the rest of the pool must be greater than average to compensate and achieve the final average%.|
|Your argument although interesting may not be true, think about:
1. Re-takers are better motivated on the next try
2. They simply learn more
3. They have seen the exam so they know what to expect and so on....
|assuming passing rate of 50%, first timers have a smaller chance.|
|After the historically low pass rate on L2 in 2009 (32% -- it was also in the 30's for L1), I think 50% seems high. Regarding those taking it for the second or third time (this is my third try), intelligence and motivation have little to do with why I've failed twice. A buddy of mine is taking it for the 4th time this year. It has a lot more to do with the fact that we have families to take care of, in addition to a full-time job. I managed to squeeze in 20 hrs/week plus time on w/e to read all assigned material, do all assigned problems a few times. it's tough. To those of you w/o wives and/or kids taking the test, I strongly recommend taking full advantage of that situation and completing the exams before having family responsibilities.|
|Fully agree with you. I can add: working more than 10-12 hours/day it's also a killer.|
|Agreed. I'm expected to work from 8am till 8pm each day, if not later. Yay finance. When I started studying, I worked at the same job but had different responsibilities - and I have found it exceedingly hard to dedicate the time an energy necessary to passing.
I've come a long way since I began studying for the CFA, but as I am consistently testing 50-75% I am prepared to come back for Round 2 in December.
CFA Discussion Topic: passsing on first try
I just wanted to share the good news that I passed CFA Level I!!! Thank you for your help - I think the online question bank helped cut the clutter and made a positive difference.