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CFA Exam Level 3 2012… after thoughts

June 3, 2012 19 comments

Last year, I promised to write a summary of Readings while preparing for Level 3, I barely had enough time to go over the material once…

My preparation was at best 3 weeks of total studying time:

  • Schweser notes and videos
  • CFA mock exam
  • 2 Schweser exams which were much more difficult than the mock exam

Exam

I think the exam was fair – I can’t say that it was too easy or difficult, well balanced I think.

For me the morning session was easier than afternoon, perhaps because of the different exam format is ‘feels’ easier…

  • With short essays, you write what you think is the best and the correct answer… but because of the subjective nature of answers, you are not sure if your answer is correct… however, I think it does increase your confidence…

I thought the afternoon session was difficult mostly because I wasn’t well prepared…

  • I didn’t expect some material to show up but it did… (especially in Ethics & AI)
  • I don’t think there were many tricky questions (like for Level 2 2011)
  • I don’t know what was new material vs 2011 so not sure if the new material was covered

I don’t think my preparation approach was right besides the obvious insufficient time, I don’t recollect reading some of the exam questions in Schweser notes or videos.

I give my self a slightly more than 50% chance of passing…

What did you think?

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