In general, we recommend retaking the exam as soon as possible, especially if you can do it in the same calendar year. You failed Level II for the second time. There is no doubt that I felt better taking the exam than I did last year and I had several closed questions behind closed doors that I would have missed last year. If you had asked me a question about the interest rate exchange last year, I would have given up, but this year I have been able to deal with it better. If you didn't pass the CFA Level 1 exam, there's nothing to be ashamed of.
Most CFA candidates fail the CFA exam at least once. I mean, just look at the passing rates of the CFA exam, which are quite low, especially for the level 1 exam. Technically speaking, when you fail the CFA Level 1 exam, you'll have to retake it (unless you want to leave the CFA program)). To take your next level 1 exam, you must meet the rule of 6 months between exams.
This means that at least 6 months must elapse between the exam you failed and the new exam period. Of course, you can retake the CFA exam at a later date, say one year from now. Last but not least, if you didn't pass the CFA Level 1 exam, you definitely need to improve your learning process and have a good curriculum to begin with. Without a good curriculum, a lot can go wrong, something you probably already know from experience.
When I said at the beginning that your failed CFA exam may be your chance, that's exactly what I meant. It's sad to see that you failed again at level 2.There's no doubt that I can feel your pain ever since I failed in Band 9 a few years ago. To combat these problems, the CFA Institute offers a complete curriculum with study tools called the Learning Ecosystem, and is available for all levels. On a daily basis, you can mark your study lessons as you do them and watch the CFA exam readings first turn yellow and then green.
This way, not only will you be able to cope better with your CFA exam, but also other long-term goals that you will set for yourself later (you will know that the weekly control strategy works). I don't like Kaplan or CFA question banks, as I think they're too wordy and time-consuming compared to the way they're written in the exam. In the portfolio management section, there were several questions I hadn't seen before, and I answered each and every Qbank question related to the CFAI. for PM.
According to the CFA Institute, after the administration of each exam, the CFA Institute conducts a comprehensive analysis of exam questions and candidates' performance to identify the minimum passing score (MPS) that demonstrates competence in the subject. Not only is the amount of material they must study overwhelming, but CFA candidates can also face obstacles resulting from unexpected events that interrupt their study plans. The CFA Institute also recommends that candidates schedule regular progress tests to get an idea of where they stand throughout their studies. There is no doubt that it is a difficult feeling to see that you have failed (since I passed level 1 on the first attempt), but to see that my results improved a lot it helped me.
That's why part of your strategy for passing the CFA exam next time should include reevaluating your curriculum. React if necessary when planning your next week of study. Flexibility understood as good management, and without easy excuses, you are still the one in charge of preparing for the CFA exam. The CFA Institute also noted that it expects the pass rate to approach historic pre-COVID levels over time, as long as pandemic conditions continue to decline.
