The Anatomy of CFAI Exam Failure and a Red Pill

[@joelmartin82]

Mark, your exhortations make me a better person, employee, husband, father, and citizen. Holistic life applications masquerading as test advice. Keep it coming!

[@andrianjuric2732]

Mark this is exactly what I needed to hear from a CFA instructor. It's refreshing to hear someone talk about the CFA as a privilege / valuable resource rather than an obstacle to get through

[@mussiehailu7920]

I’m about to restart studying for L3 tomorrow after 2.5 months off. This was just the thing I needed to hear to start up the process again. Thanks Mark!

[@three_two_one5127]

Did you pass?

[@mussiehailu7920]

@@three_two_one5127 L3 results come out next week

[@manynumeritos]

Did you pass? It's fine if you didn't

[@mussiehailu7920]

@@manynumeritos I passed!

[@manynumeritos]

@@mussiehailu7920 congrats!!🎉🎉

[@packmanstart]

Thank you Dr. Meldrum! Great timing for this message and really passionate delivery.

[@Game-yl2lh]

There is a title of a German novel: "I'm off then: Losing and Finding Myself on the Camino of Santiago". That is CFA. It changes your mind, your brain , your body, everything.

[@Kayakkiniry]

Can confirm- once I got my charter I also got a six pack and 40 pounds of muscle

[@IBlackyl]

Can confirm. When I finished Fixed Income I awake from a 3 year coma and cured my cancer

[@monumentalshots3556]

Dr. Mark is awesome. I’m L1 May candidate. I just purchased his videos and they are so thorough, there should be no reason for failure if you’re willing to put the effort in!!! Grind!! Keep inspiring Dr. Mark.

[@stratixfinance]

"The Keys to the Kingdom". Thank you Mr. Meldrum for this video. You are a big part of my attitude change, thank you sir.

[@donesteban1947]

Thanks for the inspiration Mark! I was having a tough time getting motivated to study after my L3 got postponed twice. I was really falling prey to the whole "I gotta study" mentality. As an avid gym goer, the gym analogy was perfect. I GET to study!

[@Rerun2]

I’ll be writing L1 at the end of February. This was extremely helpful for planning my future CFAI course, as well as motivating me for my upcoming exam!

[@Rerun2]

Update - passed L1, ready to get going soon for L2!

[@abe4963]

@@Rerun2 happy to hear! Let me know how the L2 goes

[@norlahlou2358]

How did you go about your study plan? Videos then questions?

[@CarbonImpulse]

Thanks Mark I needed this Pep talk my attitude to just getting through readings was wrong!

[@MediaWorkify]

Thank you so much for this Dr Meldrum. I don't believe my biggest issue is discipline right now, but I did lack motivation. When I opened the books to study for Level 2 in Dec 19 I was so keen to get stuck in, and I did. When I picked things back up in July 2020, I was the exact same. It was a bit more difficult now with it being my third time, and no certainty of sitting it in May, but hey... we'll see. This video HAS motivated me to get back on it, and to remind myself why I enjoyed this journey so much. We're all going to make it.

[@mohit3494]

Just Wow Sir, I am going to watch this video over and over again, when i feel low. Especially your talk about attitude, and applied market series. Wow Sir, Thank You So Much For Motivating Me So Much ! Thanks a lot Sir :)

[@MsLaddha]

I passed L1 and L2 in 1 go and a huge credit goes to your lectures Mark. Many a times I feel like I’m going to do L3 primarily to listen to your lectures. You are an ocean of knowledge and it’s a wonderful experience of how you transfer that knowledge to your students.

[@repeastside88]

Learned something about myself in this video. Thanks!

[@nocturnalrider1855]

We all did.

[@xMohJeex]

Your videos in the Applied Series really gave me a whole new appreciation for derivatives. Seeing real-world applications of Risk Reversals, Combos, etc... and how one could really engineer options to manufacture different risk/return profiles on an underlying really demystifies derivatives. This video is just what I needed to remind me I need to pick-up my review for Level 2 coming this May. I also can't wait for your next video for the Applied Series after the Georgia Senate run-offs are announced. Thank you.

[@ev-fb7yk]

I was watching this while I was in my homegym curling and it actually worked for both ways.

[@TenukiRehara]

thank you Dr. Mark for the inspiration and the much-needed motivation to push through CFA exams. You are the best professor I ever had all through high school, university, and now with CFA. As always, superb content. Wish you a fantastic new year!

[@alexg4121]

im curious about how much of the improvement in pass rates throughout the levels is due to the survivorship bias.

[@MarkMeldrum]

I am sure it is a factor. Almost 200,000 candidates attempt L1 each year, only 45,000 at L3 - so quite a few drop off.

[@gargijain3800]

Thanks so much Professor, you actually put your heart out into the videos..You deliver it with so much passion that it makes us give the CFA exam, its due importance...Thanks again...

[@yashrastogi1693]

Can't thank you enough sir. You're analysis is simply great !!!!

[@MeowArawwra]

I thought it’s 6 attempts per exam for CBT?

[@mihael1251]

Professor, I am finishing LVL1 preparation with your subscription and full curriculum reading, and after 90% finished content I have a filling that such education is less efficient than focused preparation for one or two subjects exams like in university. I want to know EVERYTHING from curriculum because I love this, but I really can't remember 4000 pages for 1 exam. What do you think about efficiency of such education programs in comparison with universities?

[@ketangujarathi9543]

CFAI website says “Candidates are permitted to take the exam a maximum of two times per calendar year (when applicable), but not in consecutive windows or windows that are six months or less apart. Candidates will have a total of six maximum attempts per exam level. This policy is in effect beginning with the 2021 exams.”

[@nocturnalrider1855]

Thanks a lot Mark. I wanted this reality check and subsequent motivation.

[@krispe2512]

What kind of jobs should I be looking for that have to do with CFA? I am struggling to find entry level positions in finance that having a CFA would help with.

[@nanaohnana4562]

This video is a pure gold! Thank you so much sir God bless you

[@fauxhawkboy109]

Also I personally believe that high failure rate/low completion rate is due to almost every candidate working full time now and may also have started their family.. as opposed to when they are in universities/colleges when they have more time to study, usually with no family of their own to take care of, and not working full time etc.

[@financialfare1482]

Thanks a lot for all the effort you put into making these videos Mark.

[@alegria7368]

Dr. Meldrum, thanks for sharing your knowledge here. I would like to gently ask whether you can consider a series of lessons regarding correlation and regression. Regards!

[@carlesmanguiano]

Hi Mark, thanks for the video. I also find really helpful the applied series you have on your channel. I got very motivated with learning option strategies, for example. It really helps seeing how someone use topics from the CFA curriculum in real life.

[@mikeblablabla6339]

CFA Program exam results do not expire, and you are not required to enroll each year. There is no limit to the amount of time you have to complete the CFA Program. Beginning with the 2021 computer-based exams, each level exam can be taken twice each year, with a total of six maximum attempts per exam level.

[@suli609]

Hey Mark great video! I started studying last year for the June L2 exam but unfortunately it was cancelled. I was already 70% done with the curriculum, mainly by watching your videos and practicing EOC's and the cfa Q bank. I then didn't study for Dec as i knew it would also probably be cancelled. Now i have my exam in May. How do you suggest i approach it? Should i rewatch the videos of the topics i already finished and re-read the curriculum or just watch the review videos and start practicing? Thanks!

[@cosmogamer9914]

According to the CFA site, the limit is 6 times per level, not 3

[@MarkMeldrum]

See the description box.

[@jtangx]

Hi Mark, appreciate the prep talk and keeping my focus on the prize. I wrote level III this past December and I was wondering if you recommend I restart the process of studying immediately while I await my results from December? Would it be too late for me if I were to wait for results (assuming they come out late January/early February) before I start studying again for the May exam window?

[@ellia3213]

Can u make a video on Cfa exam email we just received

[@georgiosmoukas9281]

Hey Mark, Hope you are doing great. Regarding the February exam, do you think that the passing grade will be higher than 70%? Given the numerous cancellations, candidates should be able to score way higher because they have plenty of time to study. Is this something that might increase the passing grade to 80s% in order to maintain the passing rate around 46%?

[@MarkMeldrum]

No. I do not see that as a possibility.

[@tuanmai1235]

Do you think retail investors would benefit from the CFA Program journey? Or only working professionals would benefit? Thanks.

[@MarkMeldrum]

Well, retail investors would benefit - but some sections would simply not be useful - such as Ethics and GIPS. Further, there would really be no need to write the exam. CFAI does offer an Investment Fundamentals course that may be better tailored to a retail investor.

[@MK-eu3es]

Hi Tuan, as a retail investor and a level 2 candidate, I could try to answer this. Quick background, I went into regular business school (I am from eastern europe) for undergrad and somewhere along the way I got really into stocks. I decided to take the cfa in order to learn more about investing. It has helped me A LOT. However, it only helped me because I have the attitude focused on learning how to invest, not passing the exam. My job does not necessarily depend on passing CFA ( might help). For level two, I must have read the equity book / videos like a thousand times. Everytime I learn something new there, I go to excel and apply it on real life stocks. As Mark said, there is a lot of content that might be a bit useless, but most of it isn't. Yes, it's oriented towards professionals, but the content is pure gold :) I am probably never going to be a professional investor, however i am still seeing great value in combining cfa content and real life practice. I honestly don't know of a better place to learn everything in a structured manner and be sure the information is realiable and honest. I would prove it to you very easily - if you would find Mark's videos on applied cfa and see how he executes trades - if you can do that, then go ahead, if not , they I would say come hit the books with me :D Regards,

[@jamiebloxham777]

@@MK-eu3es Hey Martin keep up the great work. Would the CFA be a little to difficult with zero knowledge of the financial markets. I am trying to break into the options market and to possibly find work as a junior financial analyst in New Zealand I'm 26 years old.

[@Kooczkodan]

In 2019 I signed for CFA1 and I did not show up. Now I am going to attempt it in February 2021 - will it be ticked as a 1st or 2nd attempt?

[@mahamoses1609]

I think you should ask CFAI to confirm, but logic says that it won't count. They give you three attempts - it means you have to attempt and fail, right.. if you do not show up, you did not attempt.

[@MarkMeldrum]

Any changes will only affect new entrants at 2021. An attempt is actually showing up.

[@mahamoses1609]

@@MarkMeldrum So December 2020 attempt doesn't count? Suppose someone failed the December 2020, when they reattempt in say May 2021, it will be considered first attempt?

[@JamDota2]

@@MarkMeldrum it's 6 attempts per level. Cfa-exam-eligibility-policy

[@sunghoonbae9428]

Amazing analysis and motivation even for someone like me who is simply taking a derivatives undergraduate class (considering taking level 1 next year)

[@sue7899]

Hi Mark, will there be a practical plan somehow for someone want to pass level II in May and Level III in November? Thank you!

[@fajarrahardjo1524]

Thank you for the motivation Dr. Mark!

[@miriow99]

Hey Mark, Would your recommend for someone to enrol in the CFA Program if they're only interested in it for personal knowledge/real world application/investing/trading? and not really interested in the career path of it. If not, would you recommend a different program?

[@MarkMeldrum]

You don’t have to enrol with CFAI, just go through the Level 1 content on your own. The complete Level 1 from 2017 is free on this channel. Just click on playlists.

[@mingxuma8470]

For level 3 candidates, pass rate is about 54%. With 6 attempts, the chance to get the designation is 1-(1-0.54)^6=99%; while with 3 attempts the chance is 90% assuming one is at an average level. So six attempts are definitely way too generous lol

[@cestlavie6232]

Attitude plays a critical role! Couldnt agree more!

[@abhishekdutta2260]

Thank you Professor Meldrum for this video. Definitely gave me a kick in the back with regards to kickstarting my L3 preparation again! Just a small question though: Any news on the individual grading sessions which you had offered last year? Are you offering any such grading sessions this year?

[@MarkMeldrum]

Our grader is willing to do some sessions. However, we have found that with the enhanced grading keys and the video walkthroughs, demand for Individual gradings sessions dropped quite a bit. I think with the new 64 hours of drop-in grading, there would be little extra value in individual grading sessions.

[@arjunadhikari9404]

Highly insightful and inspiring! Thank you so much!

[@davidramirez3021]

Where are the readings? Does the cfa give a free book if you register for the exam?

[@invested_cowboy]

If I have some time after I finish reviewing for L1 May exam, which part of L2 do you recommend that I study in the mean time?

[@MarkMeldrum]

Equity.

[@АнтонИльичев-у9ц]

Mark you forgot to take into account the influence of language skills. I think for many this is a significant slowing factor.

[@MarkMeldrum]

Good point.

[@hanadjemazi]

I totally agree, I really struggle and I take more time to understand

[@stacyliddell5038]

I have heard that the CFAI uses the modified Angoff method to determine the minimum passing score. Wouldn't that also impact the pass rate? What I mean is, couldn't you pass all the sections but still miss the cut off?

[@yusufkaram2373]

Many many thanks for this great speech and motivation

[@TipsySLA]

Hi Mark, thank you for the inspiring video. I'm enrolled in your program for L2 which I am taking in May 2021, and I am wondering whether Qbank on markmeldrum.com is a good indicator of my overall level. I have an average score of 70%+ with more than 50 questions solved in each of 4 out of 5 sections that I covered so far. Does it imply that I should have good enough understanding of those 4 sections and I should be able to pass those sections on the exam? I know that nothing is guaranteed on the exam but I would appreciate your thoughts on this. Thank you.

[@wunmiogunruku6972]

This is great!. I need this for a fresh Start again. Thanks Prof.

[@maxheithmar334]

I thought it was 6 attempts per level

[@MarkMeldrum]

See the description box.

[@michaelmueller3228]

Me too, this isn't great.

[@jprev92]

It is six. www.cfainstitute.org/en/about/governance/policies/cfa-exam-eligibility-policy

[@krispe2512]

What jobs do valuations and research to find stuff worth investing in? Data analyst is all I can think of

[@samerkaddoura2587]

Thank you. I really was in need of a wake up call.

[@sunitsrichandan2092]

Hey Mark, I got an email from CFAI yesterday, stating that the March window is now open and I can register for the same. But due to some pre-commitments, I dont think that I will be able to sit for the March exam. I was hoping to give the exam in July window. When do you think that CFAI will inform about that? Or can I ask for refund and re-register myself for any of the other May, Aug or Nov, 2021? P.S. - I was registered was Dec, 2020 Level 1 exam. But since it was cancelled, I have not registered myself for Feb, 2021 and I am not planning to register myself for the March window as of now.

[@James-pr2ci]

Hi Mark, hopefully I wouldn’t get to this point, but the newly set “3 and your done” rule. Has this only come into play from 2021? I just sat L3 in December and waiting for my results, but wanted to know if this will be applied retrospectively or only from the new CBT format in 2021? Thanks

[@MarkMeldrum]

See the description box.

[@SuperBan3]

@Mark , Will the failures be counted for attempts made from this year only or are the failed attempts counted retrospectively also ?

[@MarkMeldrum]

Only for new entering candidates at 2021

[@Owenlol100]

Mark, what program do you use for the blackboard?

[@MarkMeldrum]

Sketchbook by Autodesk.

[@Owenlol100]

@@MarkMeldrum Thanks

[@AnDre-tq1xr]

It looks like $15.00 min wage is coming. Mark covered the implications of this in one of his videos. Excellent material. Problem is, I can't remember which one. Any help in locating it would be appreciated. Thanks in advance.

[@adithyanarain6815]

Was wondering whether I was the only one who preferred finding out answers by myself, before asking others. This video assured me that I'm not alone😅

[@BenDiagi]

Hi Prof. Mark, I'm wondering why the July 2021 exams wasn't mentioned. I saw the July date on the website and I'm looking to take the CFA Level 1 then.

[@MarkMeldrum]

July was not an option when I did that video.

[@nnnn818]

Mark, doesn't the CFAI QBank consist solely of EOC questions?

[@MarkMeldrum]

I don’t think so. I can recall having an employee that had access to Level 1, and there were about 1100 MCQ that were not EOCQ. Perhaps this has changed? They don’t let me see that stuff.

[@ayushmalpani3098]

Hi mark.. Do u take classes for cmt? If NO.. Would u refer someone who takes?

[@qihuaxu8805]

hey Mark, do you have a applied series video coming tonight?

[@MarkMeldrum]

Wednesday - I need the Georgia results - rather than saying if this happens or if that happens, may as well wait 2 days and just say one thing.

[@HelLo-dl4ne]

33:45 I appreciate your gym analogy.

[@qihuaxu8805]

hey Mark, do you think it's time to put on some GM early 2022 calls?

[@jamesnemenyi]

Hey Mark, the cfa website says you have 6 attempts per level? Where did you get that it's 3?

[@MarkMeldrum]

I recall three being discussed - I don’t think it’s 6. I know there are some things on the CFAI site that have not been updated yet. I could be confusing 3 years per level, but I am almost sure it’s 3 attempts.

[@MarkMeldrum]

I am aware of the link. However I think that is dated information. I will verify tomorrow.

[@jasonbangawan]

@@MarkMeldrum can you make a very short video on the update? might not be able to follow this on the comment section. thank you Dr. Mark!

[@pizzapolice1]

@@MarkMeldrum any update on this?

[@MarkMeldrum]

Not yet.

[@jordanwalode8297]

Dr. Mark..with the new computer based testing, will we know the results and know if we passed immediately after taking the exam rather than waiting a few months?

[@MarkMeldrum]

No. You will still have to wait, but I am not sure if it will take 8 weeks. The L3 AM exams still have to be graded manually though, so I don’t expect a large increase in speed of reporting.

[@mariofreak444]

Isn't it 6 attempts per level

[@Goldbell30shoe]

How can i get pass in understanding Quants . I just move on in other modules with excitement but quants. pls help ..Should move forward and return back from quants to connect the dots again.

[@vividratsculpordwarf]

Hi Mark. Could you do a video on what you think about CAIA.

[@timothybracken1728]

What's the difference between CFAI and CFA ? There's an international version , I thought there was only one version of the CFA or am I reading this wrong ?

[@MarkMeldrum]

I means Institute.

[@timothybracken1728]

@@MarkMeldrum Oh okay, got it! Thanks for your helpful videos Mark!

[@morgandavies7898]

Hello Mark, Do you still think February exams in Toronto will happen? Would like to know your view. Thank you

[@MarkMeldrum]

Good question. 3 months ago I would have said 100%. Today, it is less than that.

[@mattm9452]

Hi mark. Any update on the attempts? Also if I failed level 2 in 2019 (1st attempt) does that count as my first attempt Or does it start to count in 2021 and forward? Thanks

[@MarkMeldrum]

No reply yet. Any changes would apply to new incoming candidates only.

[@19rishu]

Hi Matt did you get any confirmation on this question?

[@mrkhangielts]

Great video. I have a question professor. Should I do the previous year's mock exam too?

[@procastinating1018]

why not if you have time :D

[@mohit3494]

I really needed this boost/Motivation from you Sir. Was waiting for this video since the past 1 week. Thank You So Much Sir ! Will put in lots n lots of effort from right now ! Thank You Once Again For This Video Sir

[@hermannkahn]

Hey Mark, CFA just emailed saying Level 1 candidates can defer to May/Aug. Is the content going to be available on your website for those who purchased the 2020 bundles

[@MarkMeldrum]

Yes. You will get further instructions from CFAI feb 2. You may qualify for the OPT option or you may defer. Once we know what all the options are, we will defer anybody who needs it. At least this time it only affects Level 1.

[@fuhad.erised]

@@MarkMeldrum Hey mark can you tell us about the tentative exam windows of deferrals? I have received a similar mail but they haven't specified any exam windows.

[@olusolaojeniyi]

Hi Mark, please your confirmation on number of attempts per level will be appreciated by all.

[@MarkMeldrum]

As soon as I get confirmation.

[@mohamedmaher1942]

On a lighter note, What is your deadlift/Squat/Bench 10 rep max (Now and at your peak)?

[@MarkMeldrum]

Never did deadlift. Max Squat - 335, 8 rep max - 275, max bench 295, 8 rep max 245. Not now though - late 30s. Had a 15 year absence - just stared getting back in the last year. I am about 70 lbs lower on those, but at 54, not bad I think.

[@mohamedmaher1942]

@@MarkMeldrum you're a man amongst boys. Those are some serious numbers.

[@kartikkhanna1503]

sir please make videos on time series analysis and how to develop quantitative models

[@jamesbywater]

If I failed level 2 before 2021, is that counted towards the six attempts as per the CFA website? Desperately trying to find out. Shocked me that you mentioned three attempts in your video. Appreciate your kind advice, Sir.

[@MarkMeldrum]

Any change will always be for new incoming candidates, not existing.

[@christopherfincham3870]

Mark Meldrum Are you saying the max 6 rules do not apply to anyone who initially resisted for L1 in 2020 or earlier? I.e. an existing candidate from 2019 is still allowed unlimited attempts?

[@MarkMeldrum]

Yes.

[@martongoba2044]

Hi Dr. Any advice for people who started studying in 2019 for June 2020 and then December 2020 and now scheduled for May 2021. From my perspective I have gone through the curriculum so many times started mock review for June 2020 and that got cancelled then went through the curriculum rigorously again for December 2020, started mocks again only the exam to be cancelled 3 weeks before exam date. Now I am writing in May 2021 and it has become annoying reading the same things over and over, at the same time I think if I don't go through them I will forget everything I know.

[@MarkMeldrum]

Go to Reddit and answer questions - Great way to improve your recall and give back and support the community. Go through FRA and document all the differences between IFRS and GAAP, then share it with everyone. That builds social capital while you are perfecting your human capital.

[@martongoba2044]

@@MarkMeldrum Thanks Dr

[@FunkyFreshFritz]

I guess maximum number of attempts is at six per level currently, right?

[@Mohamed-ui8yz]

Mark have you made a video about bitcoin?

[@MarkMeldrum]

No.

[@Mohamed-ui8yz]

Would love a video about bitcoin and the political events of today . Thank you 🙏

[@DN-wv6yp]

Nicely articulated. Thank you 👍

[@josefon96]

Does anyone know if this 3max attemps per level is 6 in practice? I entered into the CFAI and says 6 attemps. TY for your help and MM for the consistent great content

[@MarkMeldrum]

See the comment section above.

[@JamDota2]

It's 6 attempts per level not 3 cfa-exam-eligibility_policy

[@JamDota2]

Ignore, just saw your description box. Please do update us on your findings to confirm if it's 6 or not,

[@MarkMeldrum]

See description box.

[@yashlimitless]

Sir, I'm writing CFA L1 in the coming Feb 21. Can I appear for L2 in Nov 21? Everywhere I notice that it is either Aug 21 or Feb 22. Please could you confirm on the same. Thank you!

[@MarkMeldrum]

This year there will be a L2 in November, yes.

[@johncharlesmartin4446]

Sounds whacky but start playing chess. Will help with your patience, discipline and cognitive ability

[@ritikgautam7342]

Yeah mate I agree, but I would suggest to get an irl board instead of an app. It's really fascinating how quick people get hooked to chess apps and become addicts. Cheers!

[@truthseeker5110]

as someone who started playing when i was fairly young and who was the best chess player in my native country for my age (National Under 18 Chess Champion twice), i would actually advocate against it (lol). I feel like it has honestly caused more issues in terms of real life, than it has solved/helped. Then again, that may just be me looking at the glass half empty instead of half full. I find that any progression/mastery in chess comes with an innate sense of pride/"superior intellect", and is crushed by the randomness of reality that causes you to stumble above and beyond ways in which you would have expected/conceived, leading to alot of self-doubt and unnecessary questioning. Chess teaches about tactical tangibility in terms of both preparing your next several moves as well as contemplating your opponent's next several moves, but when it comes to "life", you could prepare as many "goals" or "options" or "plans" as you want and find yourself dimmed by the reality of the extent of the lack of control that a human being ultimately has on his environment. This can (as has happened for me), lead to a rapid and lasting deterioration in self-confidence and well-being 🤷🏽‍♂️.

[@Lechwizki]

Hello i wanna ask if I need to take the cfa do I need a finance degree? Because i have no idea or anything about this. But i wanna learn this. Can anyone give any tips? Thanks in advance

[@saviopinto4978]

Mark, thank you. Very helpful

[@qihuaxu8805]

hey Mark, is there an applied video coming tonight?

[@MarkMeldrum]

Working on it - its rather long. Don't like some parts - so I have to re-run it tomorrow.

[@qihuaxu8805]

@@MarkMeldrum looking forward to it!

[@ys9403]

Hello Sir wanted to ask that what will be the exam pattern for CBT exams..Will it be - 1. 4 Subjects in morn 90 ques & 6 subjects in afternoon 90 ques OR 2. 10 Subjects in morn 90 ques & 10 subjects in afternoon 90 questions 3. And will all questions be shuffled or it will be subject wise like previous paper based exams

[@MarkMeldrum]

Option 1. Subject wise.

[@ys9403]

Thank You Sir

[@antonio_rdz710]

Mark Meldrum Hi Mark, does the CFA Level II Exam will be the same? I mean, CBT will be like Option 1 and no like past exams that were functioning like Option 2?

[@dseer13]

Hi mark, why do you think someone who checks off your boxes i.e. putting in the time, willingness, study, plan, structure, attitude would end up FAILING the level 1 exam? This is someone who studied hard and found the exam "not too bad" , Morning was easy, afternoon was hard. What could have went wrong?

[@MarkMeldrum]

You can have all of that, but if you learn the wrong things, then yes. Take a musician - puts in a lot of time, but learns on his own. A few bad habits can cause a lot of issues later on and limit that persons growth of ability. So without knowing what you did, hard to say. Take another situation (Dunning-Kreuger effect). People with low ability tend to rate themselves as having high ability, and when they are wrong oftentimes cannot even recognize that they are wrong since they think they know it in the first place. Its the asnwer that is wrong, not them.

[@dseer13]

@@MarkMeldrum words of wisdom/caution that I must keep in mind. I wrote the exam went well (the morning more than the afternoon) now I am waiting my results and I am terrified. I also used your study materials.

[@alejandrosaez9388]

Is there a way to purchase just the mock exams on your website?

[@MarkMeldrum]

Only for Level 3 beginning March 15.

[@jackmoretti7943]

Didn't realise there are only 3 attempts. I failed level 2 in 2011, 2014 and passed it in 2019. Little did I know I was on my last attempt!

[@MarkMeldrum]

Any new changes will apply to new candidates in 2021. not to past candidates.

[@raptorswin]

Hi Mark - did you end up getting clarification on the # of attempts?

[@MarkMeldrum]

See description box.

[@shivammittal3698]

hey mark, pls clear my doubt. at 24:28 , you wrote 3 attempts per level but cfai institute says 6 attempts per level

[@MarkMeldrum]

See discussion box above.

[@shivammittal3698]

@@MarkMeldrum sorry my bad :)