There are so many parallels between marathon training and studying for the CFA. Well, except the whole taper thing. I so didn't get to taper going into this test, instead I increased my study hours in the final weeks. But the main thing these 2 challenges have in common is that you have to trust your training. You have to show up on test day or race day knowing that you did everything you could to prepare yourself.
The element that I am trying not to let bother me so much is the fact that this test is basically graded on a curve. There is no 'passing score' - it's determined every year, and they usually pass about 36-40% of those who take the exam. That was the case last year, but I knew there would be some who wouldn't adequately prepare for the exam. This year I am up against people who passed level I, so they know what they are getting themselves into... So approximately 40% of those who passed level I last year will pass Level II - which equals about 16%... That's a low number. But I can't control how prepared they are - I can only control how prepared I am. And I couldn't be more prepared than I am, so I am trying to trust that it's enough.
The process of studying for this exam has been long and hard. But it really will all be worth it when I do eventually earn the CFA designation. It will do wonders for my career and my financial stability, which are important for a person in an single income household...
So here is hoping that the 7 practice tests and 350+ hours of studying I did over the last 5+ months is enough. There are a total of 20 case studies on the exam, so they can't test you on EVERYTHING. The cases are very tricky, though, and they definitely throw some curve balls at you. My hope is that there are lots of intense computational problems as that is what I excel at. And I really hope I walk out feeling as confident as I did when I left the exam last year. But I don't know if that will happen as this level is SO much harder than the first level. Either way, I am going to try my best to put it out of my mind.
Luckily, I'll have some help in that regards as I've got a fun Mexican meal with family to look forward to afterwards which will definitely distract me. 11 of us will be eating out, including my parents who are driving down just to join us for the post-CFA celebration! And then I have a massage the following day! And I'll spend the next 8 weeks catching up with all the friends and family I've neglected for the last 5 months!
Say a little prayer for me tomorrow! I should be a free woman around 4:30 tomorrow afternoon! Can't wait!
And PS - it's my nephew Andrew's 7th birthday today! Doesn't seem like that long ago that he was born!!
|Andrew and I! (wow, I look young)|