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CFA Anyone here take level 1 on December 7th?

Sixcarbs

Active Member
Subscriber
Anyone else here take Level 1 on Saturday?

Without going into question details, what did you think?

I found it much easier than the FRM.
 

adeex18

New Member
I did. I'm in NYC, the AM part was definitely much easier than FRM Lv 1(Nov 2019) but the PM was just as difficult as the FRM lv1 if not more difficult. in terms of similar subjects tested, I thought the CFA's quant section was more difficult than FRM but for derivatives and Fixed income, FRM was much more difficult. Overall, I think they are on par with each other but If I had to pick, I would give FRM a slight edge. Did you take both FRM Levels in November and CFA in december? Holy cow, that's impressive.
 

Sixcarbs

Active Member
Subscriber
I did. I'm in NYC, the AM part was definitely much easier than FRM Lv 1(Nov 2019) but the PM was just as difficult as the FRM lv1 if not more difficult. in terms of similar subjects tested, I thought the CFA's quant section was more difficult than FRM but for derivatives and Fixed income, FRM was much more difficult. Overall, I think they are on par with each other but If I had to pick, I would give FRM a slight edge. Did you take both FRM Levels in November and CFA in december? Holy cow, that's impressive.

Thanks, let's see if I pass. Anyone can buy a ticket and show up for all three.

Yes, the morning felt easier than the afternoon, but I thought that was partly due to being drained from the morning session. I'm surprised to hear you say you thought Quant was harder than FRM. I felt very good about it coming off of BT FRM preparation. Plus, I think having only three answer choices instead of four makes a big difference. Each session is 120 questions over 3 hours. That should mean that on average each question is designed to take less time than the FRM. (100 and then 80 over 4 hours each.)

Now we wait. I heard January 28th for results.

Good luck!
 

Detective

Active Member
I took CFA L1 it in June 2019 right after FRM 1 in May; passed both. I also found CFA L1 on the easier side, but it did have more content than FRM. CFA L1 does have a lot of questions (240) so each questions seems worth less. In CFA L2 I believe total questions is 120 and they present them in case study format, and people have said it is much more difficult relative to L1.
 

adeex18

New Member
congrats on passing both levels of FRM, that's very impressive. I passed the Lv 1 as well, hopefully we get pass results for CFA too.
 

Detective

Active Member
Definitely June, that's why I pressed myself to take Level 1 in December. I assume you are taking Level 2 in June.

Just started this weekend and finished Quant (5-10% weight). 90% (if not 95%) was overlap of FRM 1/2 content. I suspect Derivatives & Fixed Income will have large overlap with FRM content as well.

The topics that will likely take the most amount of time for me will be FRA & Equity. If you get your results near end of this month, I think 4 months should be more than enough, but FRA & Equity can potentially take a while.

It seems you need ~75-85/120 to pass with minimum score. Consistently scoring 100/120 on practice probably puts you on safer side. Unlike FRM, I think you are less pressed for time when taking CFA 1 or 2.
 

Sixcarbs

Active Member
Subscriber
Just started this weekend and finished Quant (5-10% weight). 90% (if not 95%) was overlap of FRM 1/2 content. I suspect Derivatives & Fixed Income will have large overlap with FRM content as well.

The topics that will likely take the most amount of time for me will be FRA & Equity. If you get your results near end of this month, I think 4 months should be more than enough, but FRA & Equity can potentially take a while.

It seems you need ~75-85/120 to pass with minimum score. Consistently scoring 100/120 on practice probably puts you on safer side. Unlike FRM, I think you are less pressed for time when taking CFA 1 or 2.

FRA, if you mean Financial Reporting, that is my weak spot. But I think 4 months will be plenty of time to tighten everything up.

I haven't at anything yet, including the percentage breakdown.

Unfortunately without the BT CFA offering I will be using Brand X across the street.
 

Sixcarbs

Active Member
Subscriber
Just started this weekend and finished Quant (5-10% weight). 90% (if not 95%) was overlap of FRM 1/2 content. I suspect Derivatives & Fixed Income will have large overlap with FRM content as well.

The topics that will likely take the most amount of time for me will be FRA & Equity. If you get your results near end of this month, I think 4 months should be more than enough, but FRA & Equity can potentially take a while.

It seems you need ~75-85/120 to pass with minimum score. Consistently scoring 100/120 on practice probably puts you on safer side. Unlike FRM, I think you are less pressed for time when taking CFA 1 or 2.

What are your thoughts on difficulty of L2 vs. L1? I just read a thread on AF that makes it sound very scary.
 

Detective

Active Member
What are your thoughts on difficulty of L2 vs. L1? I just read a thread on AF that makes it sound very scary.

I think there is a great deal of hyperbole out there. I do think L2 is objectively harder than L1, as it should be, but the degree gets exaggerated.

The format is very different. 240 stand-alone m/c in L1 vs. 120 m/c based on 21 case studies in L2. Half the number of questions means each question is worth twice as much when compared to L1. The 2-3 page case study also means there is a lot more reading and potential to test understanding and analysis vs. rote memorization. I actually prefer the case study format over the trivia barrage of questions personally.

My preparation for CFA L1 was subpar (few weeks after FRM L1), and I completely skipped certain sections, but still managed to pass relatively comfortably. I think that is less doable for CFA L2, which is less forgiving (or at least I won’t be taking my chances). The only section I know perfectly cold (without any review) is Fixed Income (I work in Fixed Income). For the rest I plan to dedicate time for review. I already finished Quant the past weekend.
 

adeex18

New Member
I passed! June L2 here I come.

:)

congrats! that's 3 out 3 for you. Unfortunately I did not pass, the CFA has a much broader curriculum compared to the FRM and I need more time to master and digest it. It didn't help that I took the CAIA in September followed by the FRM in November and CFA in December, that was probably too much. Turns out not everyone is super human like you lol, still proud I got 2 out of those 3. I will give CFA another shot this year. good luck in Level 2
 

Sixcarbs

Active Member
Subscriber
congrats! that's 3 out 3 for you. Unfortunately I did not pass, the CFA has a much broader curriculum compared to the FRM and I need more time to master and digest it. It didn't help that I took the CAIA in September followed by the FRM in November and CFA in December, that was probably too much. Turns out not everyone is super human like you lol, still proud I got 2 out of those 3. I will give CFA another shot this year. good luck in Level 2

Thanks @adeex18!

Sorry to hear you did not pass. At least by taking it in December you only have to wait 6 months for the next sitting. I am sure you will clear it then.
 
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