Woo hoo! I passed!
In case you’re wondering what I’m talking about, I’m referring to the CFA, Level II exam which I gave on June 6th, 2009. The results just came out today. As mentioned in previous posts, preparation for the exam is totally consuming. I started later than I should have – some time in March, giving me a little less than 3 months to prepare (at about 10-15 hours a week!). The exam consumed all of my early summer and so it’s nice to have passed after putting so much into it. The pass rate was 41% – lower than what many had expected (which I suppose is good since it helps preserve the value of the charter).
To be honest, I’m nowhere near as excited as I probably should be. I was much more excited when I passed Level I back in 2006. Back then the CFA Institutedid not pre-announce when results would be released. You basically had to log onto the website several times a day each day to see if the results were there. After weeks of seeing nothing, when that “Pass” showed up, I was ecstatic. Went out to lunch with the wife that beautiful summer day. Now the institute tells you ahead of time the date on which results will be released. So the long period of anticipation and constant checking is gone – you know that at 8am on the chosen day you’ll know your fate. It sort of takes the fun out of it.
Anyway, I’m rambling. Long story short – I’m happy I passed. Now I get to more on to Level III, the last level. I passed both Level I and Level II on the first attempt and hope that I’ll do the same when Level III comes around.