Wednesday, January 26, 2011

Passed My CFA Level 1 Test!!!

Because I know you all are dying to know - the scores just came out for the CFA level 1 test I took back in December that I studied months for, and I knocked it out the ball park!  The pass rate this time was only 36%, and I passed with flying colors!  It's very unclear how they grade the tests - the pass rate is different every time, graded on a curve, and they don't tell you exactly what your score was.  They give you an overview of how well you did for each topic area by putting you in the "above 70%" category, "51-70%" category, or "below 50%" category.  There's like 10 topic areas or whatever, and I got above 70% for all but two areas, which I got between 51%-70%.  Not too shabby! 

Need to have this ASAP

I was surprised though that the pass rate was so low this time.  The level 1 exam is offered twice a year, in June and December.  The June 2010 pass rate was 42%.  The December pass rate was 6% lower - that's quite a bit.  I'm really happy to have passed it of course, but it means having to study for level 2 real soon and I'm not looking forward to having no life again!  I think this coming weekend will be my last weekend of freedom until June.  Level 2 and level 3 exams are only offered once a year in June.  So I gotta get on it pretty soon.  Level 2 is supposed to be a beast.  If you fail, and many many people do, you have to wait a year before you can re-take it.  So I really don't want to have to do that. 

My work pays for these exams including study material, but only if you pass.  So I will be getting reimbursed soon!  The test was a little over $1000 and the study material was around the same so it will be nice to get $2000 back.  But I already registered and paid for the level 2 stuff, so it will only be staying for a short visit in my bank account and then going right back out.  Oh well, at least I'm able to recycle the money and not have to pay another 2 grand out my own pocket. 


  1. My husband found level two easier than level one. It has been a while since he took it but I could have sworn he said some of the material was cumulative (from level 1) so that helped.

  2. Congratulations!! What a great feeling for you! You should celebrate by purchasing yourself a few new outfits :) That's what I would do!

  3. Congratulations!! Fantastic news, enjoy celebrating!

  4. Thanks guys - you are so sweet! =)

    @Anon: Maybe your hubby is just way smart! Most people I talk to say level 2 is way harder! I hope I'm on the same boat as him though!

    @Dawn: That's a great idea! I take any excuse to treat myself. Hehehe.


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