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The CFA Level I & II June 2015 Results Roundup
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Posts: 255 Jr Portfolio Manager
The CFA Level I & II June 2015 Results Roundup
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51 - 70 : Alternative Investments
51 - 70 : Corporate Finance
51 - 70 : Derivatives
51 - 70 : Economics
>70 : Equity Investments
>70 : Ethics and Professional Standards
51 - 70 : Fixed Income Investments
>70 : Portfolio Management
51 - 70 : Quantitative Methods
Not as many >70 as I would have liked, but thrilled to pass.
70+ except for Economics (51-70)
51 - 70: AI, CF, Ethics, FRA, FI
>70: Deri, Eco, Equ, PM, QM
Level II, here I come!!!
51 - 70 : Corporate Finance
51 - 70 : Derivatives
<= 50% : Economics
>70 : Equity Investments
51 - 70 : Ethics and Professional Standards
51 - 70 : Fixed Income Investments
>70 : Portfolio Management
51 - 70 : Quantitative Methods
Level 1 Pass
51-70: Alternative Investments, Corp Fin, Econ, FRA, Fixed Income
>70: Equity Investments, Ethics, Portfolio Management, Quant
Level 1 Pass
>70 alternatives
51-70 corporate finance
70 ethics
51-70 FR&A
51-70 fixed income
51-70 portfolio management
Q#
Topic
Max Pts
<=50%
51%-70%
>70%
-
Alternative Investments
18
-
*
-
-
Corporate Finance
36
-
*
-
-
Derivatives
36
-
-
*
-
Economics
18
-
-
*
-
Equity Investments
72
-
-
*
-
Ethical & Professional Standards
36
-
-
*
-
Financial Reporting & Analysis
72
-
*
-
-
Fixed Income Investments
36
-
-
*
-
Portfolio Management
18
-
-
*
-
Quantitative Methods
18
-
-
*
Q#
Multiple Choice
Q# Topic Max Pts <=50% 51%-70% >70%
- Alternative Investments 10 - * -
- Corporate Finance 17 - - *
- Derivatives 12 * - -
- Economics 24 - * -
- Equity Investments 24 - - *
- Ethical & Professional Standards 36 - * -
- Financial Reporting & Analysis 48 * - -
- Fixed Income Investments 24 * - -
- Portfolio Management 17 - * -
- Quantitative Methods 28 - - *
Score band: 10 (f%&!)...well, at least I'm improving...last time I got an 8. Even though I did worse this time in Alt Investments, Derivatives, and even Ethics, which I thought was my forte'.
I'm really pissed and not sure where to go with this. I'm 33 years old and not really sure that this exam will help me with my (unclear) career goals. Feeling dejected and confused overall. The opportunity cost with these exams is tremendous!
Pondering giving it one last try in Dec., but debating it. Congrats to all who passed.
@captainj keep at it, foundation is there, by the looks of it, really solid foundation! Just need to tweak studies!!
@captainj commiserations - I failed multiple times too, hope you'll keep on plugging!
Passed level 2!
Left Band- None
Middle Band- FRA, Corp Fin
Right Band- Ethics, Quant, Econ, Equity, Fixed Income, Alternatives, Derivatives, Portfolio Management
Was band 10 last year! Keep pushing, @captainj
Q# Topic Max Pts <=50% 51%-70% >70%
- Alternative Investments 10 - - *
- Corporate Finance 17 - * -
- Derivatives 12 * - -
- Economics 24 - * -
- Equity Investments 24 - * -
- Ethical & Professional Standards 36 - * -
- Financial Reporting & Analysis 48 * - -
- Fixed Income Investments 24 * - -
- Portfolio Management 17 - - *
- Quantitative Methods 28 * - -
Scored less in Eco, Ethics and Alternative Invst, which was unexpected coz these subjects were easy.
I really wish if they could recheck the paper. I strongly believe i have failed only by 2 or 3 marks!
Passed Level 2!
> Fuck my life. Failed.....again. I came out pissed but thought I'd squeeze through. Guess not.
>
> Multiple Choice
>
> Q# Topic Max Pts <=50% 51%-70% >70%
> - Alternative Investments 10 - * -
> - Corporate Finance 17 - - *
> - Derivatives 12 * - -
> - Economics 24 - * -
> - Equity Investments 24 - - *
> - Ethical & Professional Standards 36 - * -
> - Financial Reporting & Analysis 48 * - -
> - Fixed Income Investments 24 * - -
> - Portfolio Management 17 - * -
> - Quantitative Methods 28 - - *
>
> Score band: 10 (f%&!)...well, at least I'm improving...last time I got an 8. Even though I did worse this time in Alt Investments, Derivatives, and even Ethics, which I thought was my forte'.
>
> I'm really pissed and not sure where to go with this. I'm 33 years old and not really sure that this exam will help me with my (unclear) career goals. Feeling dejected and confused overall. The opportunity cost with these exams is tremendous!
>
> Pondering giving it one last try in Dec., but debating it. Congrats to all who passed.
DON'T GIVE UP. if you give up now it sets a precedent in the future. remember, if there's a will there is a way!
Less than 50%: Alt. Investments & Quant
Higher than 70%: Economics & Portfolio Management
50-70%: Everything Else
300Hours estimates my score at 60%, with a max at 68.3% and a minimum at 53.3%. I don't think I got a 68%, because I didn't think I scored perfect 100% on economics or portfolio management, although if I got lucky on the one or two questions I made educated guesses on, then maybe it's possible. I do think I scored near the top of the middle band on equity and accounting. I was very surprised to see my ethics score in the middle band, I must have been only one question from 70+% there. But that's important, because it has implications for guessing the MPS this year, because my middle-band ethics score indicates I didn't pass simply because of an "ethics adjustment." I think my barely-passed result here is an important piece of data. I was also surprised to see less than 50% on quant, because I figured I got about 65% of those right. I must have been near the top of that band.
I think we can safely conclude the Level 2 MPS was less than 68.3% this year. It must have been somewhere in the mid to low 60's. Interesting stuff. I'm just glad I escaped with a passing score. I'll need to step my game up one more notch for Level 3.
I was a Band 6 fail last year on Level 2, so don't give up! I did spend a little more time studying this year, but I think the most important point was how I studied. I am a CPA working in a tax consulting role with seasonal spikes in workload, so my work schedule during spring (70-80 hours a week) really makes studying for these exams very difficult. As a result, I have to do more with less time and less energy. The most effective use of time for me is to skim the chapters and/or their summaries, and then just go right to work on practice questions from the Schweser Q-bank, and dig back into the curriculum for areas that are weak points in my question answering. I would honestly love to spend more time reading the curriculum, but given that goal is to pass the exams and January-May is a brutal time for me professionally, I have to do what it takes to pass- in this case, about 2,000 practice questions. I'm not saying you shouldn't read the curriculum, but you must leave time for a lot of practice questions. On exam day, you won't be reading or watching videos, but answering hundreds of questions...so during your preparation for exam day, answer thousands of questions.
"Every real racer knows, it doesn't matter whether you win by an inch or a mile- a win is a win." -Dominick Toretto in "The Fast & The Furious"
(extremely corny, but true lol)
Scores: Everything but Derivatives was higher than 70%. Derivatives 50-70%.
Not too shabby for someone that:
1) is married with a toddler and another baby due any day now
2) had a demanding job
3) got a new job right before the exam and couldn't take any time off
4) had a house on the market from February through May, built a house
45 minutes to an hour a day really does add up.
On the contrary, I believe the MPS was higher than last year. I know someone with only <50 in Ethics and Fixed Income who did no pass the exam (Band 10); meanwhile, last year, I had <50 in Ethics, PM, Quants, FI & Economics and managed to squeeze into a Band 9.
Again, we can only postulate and never really know but the scores I sampled shows more candidates did better on this exam than previous.