Lower CFA Pass Rates and Lower Exam Participation...

The August 2023 CFA Exams results showed lower pass rates compared to earlier this year. But the pass rates are not the only issue with the recent CFA exam results.
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AJ
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[@ThanhCongTC]

Recently passed Aug 2023 level 1, I kept watching your video whenever I feel unmotivated to grind more practice problems. I also took 300hours mock exam and got 76.7%, aimed to 80% on Kaplan but end up only average 72%. Thank you for your tips along the way!

[@straighttalks-ajsrmek323]

CONGRATULATIONS ON PASSING!!!

[@rihanmakwek8853]

I passed level 1 august exam. I took all of aj's advise to heart and it paid. Thank a lot AJ❤

[@itsaryanguptaaa]

Passed level 2 this August, just a correction level 2 is offered thrice each year. Onto the last frontier, let's go!!

[@straighttalks-ajsrmek323]

CONGRATULATIONS ON PASSING!!! Best of luck with L3.

[@SiddharthS96]

The exams are a lot more expensive now, maybe not many people want to spend as much given the current cost of living crisis in most countries. Many employers are also not willing to pay for these fees too.

[@LemonNeck]

Bro compared to every other certification and their benefit. The CFA is the best value ….

[@readistreet9383]

Given the value that the cfa gave, it is very cheap. Masters degree are much more expensive and dosent give you the value cfa does

[@yukigumarnament5916]

From my class of 42 students, so far I only know 2 people passed… for the May and Aug candidates combined… and I’m taking Nov exam 🫠

[@helgakoshy5635]

Which country

[@t-zero8880]

Passed L2 Aug, 90 percentile. Prepared a lot for it, 600+ hours, 15 mocks. Felt bit dissapointed right after exam, in terms I expected it to be harder. In the end it felt easier than the mocks but also trickier. I was very surprised to see the MPS estimate at 69% because that makes passing harder, also surpised about 52% pass rate with 70% MPS, which i think is a very odd outcome and at this high MPS levels we mights see the passing rate drop to 40%. Gonna sit for Feb L3, hope I can make it in time. Great video!

[@straighttalks-ajsrmek323]

CONGRATULATIONS ON PASSING!!!

[@matiasbouza7159]

I passed level 2 on this exam window and I´m wondering if going for the level 3 in february is better than waiting for august 2024. On the one side it´s better to get over with it, but i guess going for level 3 in augusts makes it a better chance to learn the material and have a higher success rate

[@straighttalks-ajsrmek323]

I would say that if you scored really well on L2, you might be able to go for L3 in Feb.

[@cristiansieira3370]

Also think it has to do with the movement in younger people since the pandemic to focus on quality of life more often. This results in people wanting to live up their summers and not take the August window. Would be interesting to see similar stats for L1 in August

[@straighttalks-ajsrmek323]

Oh yea that could be. I always liked it being early June because then I owuld have June, July, August off from studying.

[@saoud2024]

Hello Aj bro I want to ask you about cpa is it easier than CFA ? I need some clarification and why second question in the industry do you see cpa has more value or the CFA honest answer I hope to get answer and thank you bro ❤

[@straighttalks-ajsrmek323]

the CPA is much easier than the CFA, but it is still difficult. The CPA is better for all accounting roles, but the CFA is better for asset management roles.

[@uiof1]

I passed level II for August 2023!!

[@straighttalks-ajsrmek323]

CONGRATULATIONS ON PASSING!!!

[@karabolanga6915]

Congratulations, did you find the exam difficult or fair? What were your pass rates on the mock exams if you don't mind sharing? Thanks

[@uiof1]

Exam was definitely fair. I found it easier than the mocks. I did 4 mocks which I average around 65%.

[@aks6865]

What's your take on the new optional pack containing 1,000 more questions and 6 additional mocks for CFA level 1 at $299. Seems quite expensibe after oaying so much for the exam

[@straighttalks-ajsrmek323]

Yea I think the price is very high. But it might also be a very valuable resource... I haven't gone through it myself yet.

[@aks6865]

@@straighttalks-ajsrmek323 do you think one should get it, though it's indeed very high😔

[@LemonNeck]

July 2021 level 1 got scammed ! Holy shit 22% pass rate

[@MZA0110]

what do you suggest, should i study book by book or part by part from each book for example studying chapter 1 of the 1st book and chapter 1 of the second one and so on or take a book of 6 books of materials and till i finish it then i pass to the second book and so on ?

[@straighttalks-ajsrmek323]

Book by book. Check out my video course about this for more.

[@readistreet9383]

I know many people that say they will take only the level 1 and not the others.

[@straighttalks-ajsrmek323]

Wow that's surprising to me!

[@ricoterrentino]

Me too

[@marcos.3342]

Not such a smart move..

[@XAUCADTrader]

What's the rationale? Just a foot in the door?

[@XAUCADTrader]

@@marcos.3342 Sunk money and time costs?

[@andreahoxbucks]

Level 2 exam is taken thrice.. good video though

[@prodbymanish9194]

taking my cfa level 1 exam on November 14

[@straighttalks-ajsrmek323]

Best of luck studying!!

[@josesantoso1010]

Hey AJ, I did the Wiley's mock exam and I got only 61. Meanwhile, my cfa mock exam curriculum is at around 69%. I want to ask: 1. Is that good? 2. I think I am really struggling with ethics, economics, and derivatives. Any tips? I feel like I understand most of the topics, but when presented with the mock exam, I feel pretty clueless on the answers. Thank you, any tips will be appreciated.

[@straighttalks-ajsrmek323]

Hey Jose, No i don't think those numbers are good enough yet to pass the real exam. Econ and deriv you just need to do more practice questions. Use the CFA EOC and BB examples. Ethics... I'm really not sure. Check out my videos about the ethics sections.

[@dhvanilraut3879]

hey AJ my level 2 exam is on 19th november! any tips?

[@straighttalks-ajsrmek323]

Yes you should be cranking out mock exams now!!!

[@pierhaps]

In Europe at least, the majority of top Master in Finance, which contrarily to the us, are necessary to break through the financial industry, say that "prepare you for CFA lvl 1 exam" which the content may be the same but by no means you'd be ready to take the test without further education. This might explain partially the decline in passing rate, also once you have the edge of lvl 1 and are in the industry there is little incentive to pass lvl 2-3 as you have better chance to get where you want to be through working you way there instead of holding the CFA. I have a very euro-centric pov, let me know your opinions :)

[@straighttalks-ajsrmek323]

You think people are passing L1, then quitting? Because its all they need to impress employers? Interesting.

[@pierhaps]

@@straighttalks-ajsrmek323 i think this contributes to lower passing % and lower lvl 2 attendance. But I'm definitely bias given the landscape I live in

[@XAUCADTrader]

@@straighttalks-ajsrmek323 This might be my intention, I'm a computer science major, but thinking about this as an extra credibility item for FinTech. I might do the others, I'm doing this purely for fun, like people running Marathons (I'm physically lazy, and do not understand this one. Those who hate school/studying can't understand what I'm doing.