Approximately 18 months ago I began studying for the CFA Level I exam; I never progressed past February 2006 and didn’t take the test that year. The commitment wasn’t there, and the desire to study a broad range of financial topics from the original textbooks for four months needs to be enormous to overcome the lure of even nothing more special than reading a magazine or watching a movie.
This past Saturday, June 2, I sat for the exam at the Dulles Expo Center with several hundred other eager candidates, all hoping to be one of those who nail the 70% passing grade. I am not confident that I am one of those people who will pass on the first try, not because I wasn’t smart enough, but because it is so much material. Four months simply isn’t enough, if you didn’t have an accounting, econ, or finance undergrad and possibly graduate degree and are more than a few months out of your program. While I am not looking forward to possibly having to take it again, I am also ok with that possibility. I made the best effort I could and got a lot out of the studying as it was.
I do wish they’d schedule it better though–I had to postpone my birthday celebrations and miss one of the few long weekends of the summer!