Wednesday, July 30, 2014

Passed My CFA Level I!

Hey there everybody, I have some fantastic news! Remember back in June when I talked about finishing my CFA Level I exam? Well, the results are out, and I passed!


Business Insider reports that a whopping 42% of candidates passed the Level I exam and 46% passed the Level II exam, making this round of examinations one of few with such high passing rates. Yes, 42% passing the exam is considered a high passing rate for the cohort, and yet the majority of candidates will be disappointed with emails of failure. Congrats to all those out there who have also successfully passed these exams. And only words of encouragement for those who did not make it this time - the path to any place worth going to is never an easy one.

Personally, I am really surprised and happy about my results! I thought the exam was extremely challenging, and I scored really badly for the Kaplan mock exam that I attended. I guess that spurred me on to really study hard for the remaining time leading up to the actual exam.

Although I have very happy and pleased with myself that I passed the Level I exam, I do not think that I will be proceeding on to take the Level II exam - at least not yet. Maybe the following year, or the one after. Work is still not yet in auto-pilot mode, and I feel like there are tons of things on my plate still. I don't want to be that person that is so busy with everything that I am not enjoying my life.

Also, I think that in the coming year, things are going to get extremely exciting in the investment world, and I would rather be fully focused on proper investing and making money rather than increasing my paper qualifications, which I am actually pursuing only for personal enrichment.

Another reason why I am glad that I passed is because I've told quite a number of people that I am taking this exam, especially when they refuse to accept a simple "I'm busy" response that I usually gave as my excuse to avoid attending anything during my intensive study period. I wouldn't want to be that guy that talks so much about investing and finance, but ends up failing a related exam, you know? So, I'm glad that I passed because now it gives me some credibility amongst those who know me.

I also hope it gives me some credibility amongst my blog readers, that my fundamental knowledge about what I tend to talk about is not based on some strange hocus-pocus cult theory.

I know that I am not allowed to called myself a CFA charterholder yet until I pass the Level III exam, and I think that I am very far away from accomplishing that. However, as of now, I am rather satisfied telling people that I took the CFA Level I exam and I passed it on my first try!

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