Need some Opinions on CFA

Jobs & Careers
1975
Dear Akshat,

I'm doing CFA from ICFAI. As I'm working in a ICICI Bank, m not getting so much time to prepare for the exams.

After taking admission in CFA in Jan'08, I've given exams of Group-A for 2 times. but it was not cleared. Difference was always of 3-5 marks as 55% aggregate are required to pass the exam.

Now I'm going to plan exam for Jan'09 but I think my preparation is not upto the mark. So,can u suggest me some tips for my L1, i.e Economics & Financial Accounting.

Waiting for your revert.

With Regards,
Neeraj Verma


Dude
I took CFA offered by CFA institute USA. Hence I have no idea abt the one offered by Icfai.
I guess this thread is mainly for those opting for the the program offered by CFA Institute USA. U could check for this info on the other threads.

cheers
Akshat
1976
hi,
i m a engineer from nsit and planning to take cfa l-1 in june 09... I ve a few queries...they maybe redundant but plz answer them anyways....plz
1.I m planning to take cfa in june 09 followed by level 2 in june 2010.Then i'll go for an mba n complete the third level during my 2 years at mba.Is that a good strategy...experienced guys plzzz help me out.

2.wat is the difference between the job oppurtunities for a cfa who ha s completed his level3 but has not got a charter compared to the guy who has got a charter(4 years relevant work experience)..plz do explain in context to jobs in India also.

3.Are there any centres in India?

4. Do we need to submit any proofs of our graduation ,schoolin et al? If yes do we need 2 submit the originals?

5.Plz enlighten on the jobs for cfa's in india...how much pay can i expect and which companies recruit for wat profiles?

6.Are the books i get after registration by cfa institutes enough or do we need more books...if yes plz give us da links or the location of shops we can access \em from(i live in south delhi).Heard alot bout schrewster notes....plz elaborate(only for cfa 09)

7.Will it benefit me in my gd/pi for b-schools that i've cleared l1 and will b appearing for level 2 soon.

8.How difficult it exactly is??? i'll start studyin soon and at the max will be able to put in 2 hrs daily with 5-6 on weekends...how much crammin is rewuired(i suck at that)...




plz reply....ill b grateful:)

hey neeraj,i want to g0 for cfa but i need sm of doubts cleared that i've been facin...kindly answer that...i m in total dilemma...plz help
1977

Hey puys!

what happened at the court hearing? First it was schedulesd for 23rd Oct, then adjourned to 4th November...

What happened on 4th Nov? any news?

-bbboy25
waiting to give L3...

how dare u blow up my city? :snipersm:

1978
@ puys taking level 1 this december

DO's and Donts

First things first, please ensure that u have your admit card, govt issued icard and the calculator.
U can start with the section you are most comfortable with. Leave the ethics portion for the last as it requires a perso to think a lot. Try to finish the other questions in 2 hours max. Use the next half an hour to solve ethics, and check ur answers in the last half an hour. Theres usually ample time, so dont panic and attempt the questions carefully.
The topics in the morning and afternoon are same. Its just that they might ask a different question from the same topic.
I would say,please attempt as many mock papers as possible. Try to get hold of schweser pro, its a software that has a qbank of 5000 questions. It helps a lot. Also practice as much ethics as possible.
I took level 1 in june 07. I found it pretty easy and was able to correctly attempt arnd 105/120 questions in both the sessions. Dont leave any questions as theres no negative marking.

Take something to eat with u, as there isnt much time between the exams to go out and buy stuff.
Prepare well, all the best

cheers
Akshat


Thanks Akshat.
u just mentioned that u got 105/120 in both sessions. I think thats a great score. But i am sure i will have to settle for a far less score. So what according to you is the cuttoff usually for each session?
1979

hey guys...i have been following this thread from quite a few days...must say lot of guys have done their homework really well !!!cheers 4 that....m a mechanical engneer currently working 4 TCS....took cat this time round but the outcome was not as i expected it to be...I want to pursue a career in finance...and thats how i came to know about CFA !i just wanted the experts to suggest wether it is possible for a guy who have no prior knowledge of finance to clear cfa in 6 months....and what are the job opportunities like if i manage to clear(both i india as well as abroad)....experts please help !!!!

1980
hi,
i m a engineer from nsit and planning to take cfa l-1 in june 09... I ve a few queries...they maybe redundant but plz answer them anyways....plz
1.I m planning to take cfa in june 09 followed by level 2 in june 2010.Then i'll go for an mba n complete the third level during my 2 years at mba.Is that a good strategy...experienced guys plzzz help me out.

2.wat is the difference between the job oppurtunities for a cfa who ha s completed his level3 but has not got a charter compared to the guy who has got a charter(4 years relevant work experience)..plz do explain in context to jobs in India also.

3.Are there any centres in India?

4. Do we need to submit any proofs of our graduation ,schoolin et al? If yes do we need 2 submit the originals?

5.Plz enlighten on the jobs for cfa's in india...how much pay can i expect and which companies recruit for wat profiles?

6.Are the books i get after registration by cfa institutes enough or do we need more books...if yes plz give us da links or the location of shops we can access \em from(i live in south delhi).Heard alot bout schrewster notes....plz elaborate(only for cfa 09)

7.Will it benefit me in my gd/pi for b-schools that i've cleared l1 and will b appearing for level 2 soon.

8.How difficult it exactly is??? i'll start studyin soon and at the max will be able to put in 2 hrs daily with 5-6 on weekends...how much crammin is rewuired(i suck at that)...




plz reply....ill b grateful:)


guys is this thread dead or wat...this is the third time i m postin the same thread...ive got the point that is is nt a very interestin question but this info is sumthin which i really need n will b helpful 2 many...plz reply
1981

hi,
i m a engineer from nsit and planning to take cfa l-1 in june 09... I ve a few queries...they maybe redundant but plz answer them anyways....plz
1.I m planning to take cfa in june 09 followed by level 2 in june 2010.Then i'll go for an mba n complete the third level during my 2 years at mba.Is that a good strategy...experienced guys plzzz help me out.


Certainly taking CFA is a good idea if you intend to work in Finance or related line of buisness. However, the time-line for CFA is not very strict so you might as well think of re-designing things as they come.

2.wat is the difference between the job oppurtunities for a cfa who ha s completed his level3 but has not got a charter compared to the guy who has got a charter(4 years relevant work experience)..plz do explain in context to jobs in India also.

CFA level 2 will certainly enhance your chances of getting a good opportunity for you, however, it dosent ensure opportunity going forward. India is an emerging economy and I believe by 2010, when present turmoil is over, you might find more opportunities coming your way.

3.Are there any centres in India?

I believe as of now, CFA has no test centers in India, you might have to take test outside india, however, since we live in a democracy, you are free to take any course offered by any country :)

4. Do we need to submit any proofs of our graduation ,schoolin et al? If yes do we need 2 submit the originals?

Proof submission is done at a later stage, however, if you are unable to proof things that you have already declared befora taking CFA curriculum, you will voilate the CFA code of ethics and you might not get CFA charter later, even if you pass all levels.

5.Plz enlighten on the jobs for cfa's in india...how much pay can i expect and which companies recruit for wat profiles?

This is subjective - depends on your choice

6.Are the books i get after registration by cfa institutes enough or do we need more books...if yes plz give us da links or the location of shops we can access \em from(i live in south delhi).Heard alot bout schrewster notes....plz elaborate(only for cfa 09)

The books from CFA institute is more than sufficient, however, you might not read everything from all books, yes Schweser is one good source which could help you - personally I believe Schweser is sufficient for even for those who have no financial knowledge.


7.Will it benefit me in my gd/pi for b-schools that i've cleared l1 and will b appearing for level 2 soon.

In my opinion, I dont think, you will get any benefit in GD / PI, you might tell them that you're taking CFA {candidate for level 3 etc}


8.How difficult it exactly is??? i'll start studyin soon and at the max will be able to put in 2 hrs daily with 5-6 on weekends...how much crammin is rewuired(i suck at that)...


That should be sufficient, given you have 6 months in hand!
All the best!
1982

hi

I am planin to take th CFA L1 in jn 09.. but considering the current scenario I am a it doubtful about the relevance and importance of this course.. With I banks falling and I bankin goin down what are the other kind of firms that need CFAs.. and also in simple words.. is it worth it now??

1983

hi puys..im new to this thread..i need some suggestions..
im doin my engineering..now after my second year..i have one year completely off..wid nothing to do..i want to have a career in finance and already have some basic knowledge...what courses shud i do to get a foot hold in fin..i hv already heard too much bout cfa cfp ncfm n all..but i think im not eligile for these...plz sm1 guide me..

1984
hi

I am planin to take th CFA L1 in jn 09.. but considering the current scenario I am a it doubtful about the relevance and importance of this course.. With I banks falling and I bankin goin down what are the other kind of firms that need CFAs.. and also in simple words.. is it worth it now??


Please somebody reply to this ...akshat agarwal...??
1985
hi

I am planin to take th CFA L1 in jn 09.. but considering the current scenario I am a it doubtful about the relevance and importance of this course.. With I banks falling and I bankin goin down what are the other kind of firms that need CFAs.. and also in simple words.. is it worth it now??


Learning never goes for waste, taking CFA or MBA will always be beneficial, I dont think you'll ever repent after actually taking up these finance courses. It is true we are in a middle of significant turmoil, however, I believe we will see some meaningful recovery by late 2009 or early 2010. The crises is not bounded only to I banks and brokerage Industry, it has spread to all places, you must have read about Tribune filing for Bankruptcy protection yesterday.

People have doubts in mind before any investment {CFA - time. money and effort}, and how much return you expect going forward. A personal opinion you will certainly be beneficial if you progress on the learning curve you've designed for yourself...leave aside the crises thing :)

All the best!
1986
Thanks Akshat.
u just mentioned that u got 105/120 in both sessions. I think thats a great score. But i am sure i will have to settle for a far less score. So what according to you is the cuttoff usually for each session?


hey cute_alien

Dude, nobody really knows the cutoffs as such. they vary from year to year and section to section. A safe target that i keep in mind is around 70% correct attempts.
Once u solve some 10 odd mock papers, u'll get to know ur avg accuracy and the time taken. Accordingly change the order of attempt or and no. of questions u attempt. Once u do all this, u get a fair idea of how much u can expect.
but keep in mind the 70% thingy. it has worked for me twice.


All the best
Akshat
1987

Originally Posted by why and how View Post
hi

I am planin to take th CFA L1 in jn 09.. but considering the current scenario I am a it doubtful about the relevance and importance of this course.. With I banks falling and I bankin goin down what are the other kind of firms that need CFAs.. and also in simple words.. is it worth it now??

Please somebody reply to this ...akshat agarwal...??


Hey
Sorry for the delayed response. I haven't been that frequent a visitor as i used to be earlier because of the grueling schedule we have at IIM lucknow.
First and foremost, CFA doesnt promise anything. So whether financial markets are in turmoil or not, unless and until u imbibe what u have LEARNT from the course and can successfully implement it, the course is meaningless.
Second, please dont view CFA (read level 1) as a gateway to plush Ibank jobs and 50 lac salaries. Its a step towards LEARNING about investment analysis and portfolio valuation.
Third, if u are good, no matter how bad the market scene is, u will get good offers. i have many examples in front of me, thats y i say this with conviction.
Lastly, please dont choose a fin career only for the money or status, U will regret ur decision later. Only if u really like fin, shud u go for it. once u decide that u really want to enter the fin sector, CFA IS the course for u.

Hope this provides some perspectives to future CFA candidates as well as the ones who are going thru it.

Cheers
Akshat

PS:Alternative career profiles, will be in treasury operations, risk management etc. These are the ones which are safe bets, as in thier jobs usually dont dry out
1988
Hey
Sorry for the delayed response. I haven't been that frequent a visitor as i used to be earlier because of the grueling schedule we have at IIM lucknow.
First and foremost, CFA doesnt promise anything. So whether financial markets are in turmoil or not, unless and until u imbibe what u have LEARNT from the course and can successfully implement it, the course is meaningless.
Second, please dont view CFA (read level 1) as a gateway to plush Ibank jobs and 50 lac salaries. Its a step towards LEARNING about investment analysis and portfolio valuation.
Third, if u are good, no matter how bad the market scene is, u will get good offers. i have many examples in front of me, thats y i say this with conviction.
Lastly, please dont choose a fin career only for the money or status, U will regret ur decision later. Only if u really like fin, shud u go for it. once u decide that u really want to enter the fin sector, CFA IS the course for u.

Hope this provides some perspectives to future CFA candidates as well as the ones who are going thru it.

Cheers
Akshat

PS:Alternative career profiles, will be in treasury operations, risk management etc. These are the ones which are safe bets, as in thier jobs usually dont dry out



Oh ok cool.. got ut point..will get back to u in case of more doubts.. m sure u will be glad to answer... thanks
1989
Learning never goes for waste, taking CFA or MBA will always be beneficial, I dont think you'll ever repent after actually taking up these finance courses. It is true we are in a middle of significant turmoil, however, I believe we will see some meaningful recovery by late 2009 or early 2010. The crises is not bounded only to I banks and brokerage Industry, it has spread to all places, you must have read about Tribune filing for Bankruptcy protection yesterday.

People have doubts in mind before any investment {CFA - time. money and effort}, and how much return you expect going forward. A personal opinion you will certainly be beneficial if you progress on the learning curve you've designed for yourself...leave aside the crises thing :)

All the best!


thnanks vivek.. will get back to u in case of more doubts.. have enrolled myself.. my job starts in may .. so i plan to finish everything till april end. .

thanks again
1990

No comments for Dec, 08 Exam ? Ok! Let me do the honors !

  1. For me paper was easy. I mean better than what I was expecting. But, not good enough to convince myself that I will pass.
  2. Morning session was very easy.
  3. Afternoon session was comparatively tougher, but nothing like what I had expected.
  4. Ethics was very dicey in both the section. Don't neglect this section. Read it 2-3 times. Know the differences between each standard & solve as many as Qs possible.
  5. Even other sections were dicey. Portfolio management was the easiest.
  6. There were around 10 Qs on DDM formula alone.
  7. 3 hours is enough time to complete one session. I have met a lot of people who could easily complete the paper. In fact, I havn't met anyone who could not complete paper.
  8. If you are well prepared, you can solve all the Qs in 2:30hrs/ 2:45hrs.
  9. As everyone was saying, Qs were from all over the syllabus.
  10. Make sure each of your concept is crystal clear.
If any doubts/Qs, let me know.
1991

Hey puys,

can any body pls reply if there is any extra customs duty applicable while receiving the CFA material after registering. if yes then how much???
Also wat documentation needs to be done wid the customs office for clearance of the CFA Material??

These are some questions i got to know after reading policies from cfa website.

Thanks & Regards,
Rahul K.

1992

The exam turned out to be easier than I thought. The Morning session was very easy. The Afternoon session was a bit tougher. Ethics in the afternoon session was the toughest section in the entire paper. I havent done well in Ethics and Economics in the afternoon session. Based on my accuracy in the Schweser mocks and the way my exam went, I expect to get around:

Ethics-> 13/18 + 10/18
Quantitative Methods-> 12/14 +11/14
Economics-> 10/12 + 7/12
FSA-> 17/24 +17/24
Corporate Finance-> 8/10 +8/10
Equities-> 10/12 + 9/12
Fixed Income-> 11/14 + 11/14
Derivatives-> 6/6 +6/6
Alternative Investments-> 4/4 +4/4
Portfolio Management-> 5/6 +4/6
Overall-> 96/120 + 87/120

That makes it 183/240. However I can still get about 15 more questions wrong from here which would be 168. I should pass given the effort I had put in but then I am still a bit worried. I really need to pass

Does anybody have the links to the Schweser 2009 Level 2 notes? I gave 3 months of preparation to Level 1 and considering the fact that Level 2 is the toughest of the 3 levels I would like to put in 5 months of preparation.

1993
Hey puys,

can any body pls reply if there is any extra customs duty applicable while receiving the CFA material after registering. if yes then how much???
Also wat documentation needs to be done wid the customs office for clearance of the CFA Material??

These are some questions i got to know after reading policies from cfa website.

Thanks & Regards,
Rahul K.


I did not have to pay any customs duty or do any documentation.

The material was delivered to my doorstep.
1994

Hey all
Does anyone have the contact details of a person, from whom i can get the Scheweser notes in Delhi??
If yes, please pm me. I'll be in delhi for a week starting tomorrow and i need the level 3 books.
Help me out guys.

Thanks
Akshat