I failed CFA exam | Chartered Financial Analyst - YouTube

diluted eps financial statements inflation  deflation disinflation stagflation PE ratio  

PB ratio fixed-income evaluation EPS diluted EPS  technical analysis yes these are the contents  

that you must know if you prepare a CFA level I  I spent six months to prepare the CFA level I  

and studying the february exam and i only  found out recently that i didn't pass  

so today I want to talk about what is a CFA one of  the toughest exams in the world and the challenges  

and takeaways of participating in CFA program in  the end i'll share my result I throw you guys  

10 CFA practice questions and see how many you  can get it right now let's get started I can't  

remember how many times I had to explain to my  friend when they tried to catch up for a coffee  

sorry I can't I'm preparing for my CFA exam maybe  let's do it after the exam no no no it's not a  

volunteer fire emergency services it's called  chartered financial analyst so basically is a  

certification offered by a U.S based cfa institute  to the investment and finance professionals  

internationally and the wall street journal rate it the toughest exam in the world so how tough the   

the average pass rate of the three CFA exams is about  40 to 50% and the February level I exam that  

I sat was 44% and most candidates who passed the  three exams normally take more than one attempt to  

do so so based on the pass rate of level I level  II and level III only 10% of candidates  

will eventually pass three exams in the first  attempt and even the CFA institute suggested to  

study at least 300 hours before you sit  in the exam so that is to say  

for example you work full-time and you can only  allocate two hours per day that is five months  

of study let's take CPA as a reference which you  probably heard of so is cfa more difficult than  

CPA well i never see it in the cpa exam but I know two of my friends who had worked for Deloitte  

and KPMG they were trying to get CPA but still  couldn't and I came across a CFA forum  

who is a CPA and holding a master's degree  in finance and he says the college only covers  

70% of CFA level I and 30% of CFA  level II and he's currently working on passing  

the level III exam and he says it's about four  to five times more difficult than the CPA to get  

a charter you need to pass the three exams plus a  four years of working experience in the industry  

all the three exams have 4.5 hours into  two sessions although every year cfa changed the  

curriculum and the weight for the three exams but  the top 10 topics that generally remain the same

What made CFA exam really challenging for me is the time and efforts that I needed to put in I did  have a similar feeling very strongly about preparing  

for gaokao which is the chinese college entrance  exam it's a very tough and extensive exam all over  

again when I was preparing for CFA because I was  aiming for 2 hours per day at least times five  

months is 300 hours before I sit in the exam at  At least but in reality, i had to work from home I had  

to homeschool my elder kids and getting my youtube  uploads weekly so i have to say it was pretty  

messy and going to sleep at 1.30 midnight became  a norm for me I know it's not healthy so anyone  

who wants to get CFA I strongly suggest just to  get it when you are in uni anyone who is in year  

3 in Uni can sit in the cfa exam or the second  best time is before you start a family I wish  

I knew this and cracked the three levels because  it's really a privilege to be a cfa in my opinion

Another challenge that I found is that I struggled to memorise the study materials. In the beginning, I thought um maybe I'm just getting old but then one time one of my friends  

just pointed out probably you need more sleep  um yeah that makes sense and sleeping at one  

midnight doesn't help but it turned out to be i'm  not the only one that who had a similar problem  

remember the guy that I talk about who is the CPA  and trying to pass the cfa level three exam he  

made an analogy that for example, you're learning  alphabet for CPA who contains four sections then  

you can study and pass the exam and forget about  because each section is very exclusive to its  

own part so for CPA you learn abcd and you pass  the exam and then you forget about and you move  

on to efgh and then after that you move on to  ijkl but for cfa level one you have to memorize  

all the a and the b and the c until that in  one exam during the four and a half hours  

and for cfa level two not only you have to  remember the letters you have to use these letters  

to form words and level three you need to be able  to form the words into sentences now you probably  

say wow we get it it's a tough exam but why did  you set yourself up with it well good question  

neither my bachelor degree nor my master degree is  finance-related but I'm always interested in maths  

related subjects since high school so subjects  like geometry statistics accounting economics  

were all my favorite subjects in uni things i'm  managing the personal finance and investment  

accounts for my small family I always wanted  to learn finance or investment in particular  

from a bigger picture more systematically I signed up with the CFA course which cost me $1500  

ish um to do the exam but people say  then why don't you just go for the free  

information platforms like youtube yes I like many  of you I watch youtube videos a lot way before i  

started my own channel but most of the time i can  only get little pieces here and there no matter  

how engaging how awesome the storytelling how  good the video editing is at the end of the video  

do I get a little bit of knowledge or information  out of it yes and again are the contents fact  

checked by the content creator not necessarily  right so i felt like that i needed to go for  

a more conventional way by signing up a course  yes it did cost me quite a bit of money but it's  

totally worth it and it served me this purpose  very well my study definitely doesn't stop here  

my plan is to re-read the level 1 textbook because  i only use the notes to prepare for the exam  

and i may go self-study for level 2 which goes  deeper into more calculations and complex theories  

and I made myself a new year resolution  to read two finance or investment books  

every month and these are the books that I'm  currently reading the <active investing> and <finance  

for non-financial managers> talk about financial  reports although these book time might be shared  

by parenting books like <the barefoot investor  for families> <decoding boys> or my personal book 

that i'm reading but i am on track so feeling  good i'm fully aware that the youtube channels  

in personal finance and investments are male  dominated but as a female content creator I'm   

happy to take the challenge so hopefully that  you can find my videos interesting to watch  

and can get some knowledge out of each video after  you watch so if you like what you're watching now  

so far please don't forget to give it a like  and now let's look at my CFA results I still  

can't believe that i didn't pass the exam these  close the mind is almost overlapping the minimum  

pass line which gives you an idea where you  stand in the global ranking and you can find your  

accuracy on each topic you can see that most of  my subjects are 70 accurate and i can't believe my  

quantitative method which i felt good about it but  i don't know why i did it so badly during the exam  

I'll put the answers in the comments area  and let me know your accuracy rate well  

i'm still a little bit upset that i didn't  pass the exam after six months of studying  

would you like some sweets the kids' left-over easter eggs will cheer me up, thank you. well i hope  

everybody enjoyed watching this video and everyone  have a lovely day and i'll see you next week bye