Archive for August, 2008

CFA Level 2 2008 result tonight

Tuesday, August 19th, 2008

In eight hours from now, my 82 CFA Level 2 students will get the result. I have planned a dinner (Pakistani version of a party) to celebrate success in 10 hours from now.

Yesterday, I faced a dilemma of how many seats should be reserved at the restaurant. I tried to go over students records to identify expected successful candidates.  I started traveling on the memory lane in this process. 

More than 150 hours of class room time, in excess of 50 hours of in class testing, about 95% attendance in classes over 5 months, sacrificing family functions as classes were on 20 consecutive weekends, every week looking at test results, putting more than 300 hours of self study, ensuring that each sub LoS is understood in detail and more importantly managing family and job alongwith it… and still wondering  pass or fail ? is what fits for almost all of my students of level 2.

One thing I know, after this much effort, even students ending up as average student in my classes are better prepared than average student globally.

“Out of these 82 students, how many are going to pass?”  was the question that I had to answer yesterday. I have made an assesment and have reserved seats. This is the only dinner, probably, where the host will wish for more guests than available seats!

 

 

 

a doctor, a lawyer, an army major & CFA Level 1

Saturday, August 9th, 2008

Dr. Akhtar, a practicing medical doctor of 45 years of age, was a top performer in one of my Level 1 batches. He used to travel from Sheikhupura (40km from Lahore) to attend weekend classes. He had a family and a running hospital to take care of.  He was allways among top three scorers in class tests and mock exam. Class size was 40 and he passed Level 1 comfortably.

Asim Mahmood, age 38,  holds LLM from UWS, Australia and was one of the top performer in batch 10 of Level 1.  He used to be surprised at every result.  He asked me number of times “Test was so easy. I am not surprised on my result. I am surprised on others. What are they doing wrong?”. No wonder, he scored above 70% in a number of subjects in CFA Level 1 exam.

Major M. ( name not mentioned to maintain privacy) did his Bsc. from Pakistan Military Academy. He is a serving army officer. When I looked at results of first exam of Batch 8 of CFA Level 1, I could not hide my surprise, not could the whole class of 65 students. This class included 46 MBAs.  Major M. not only performed brilliantly in class test, but also managed to pass CFA Level 1 exam comfortably.

Can you see anything common between these students, apart from having non-finance background?

There is something and this something is the key to pass CFA Level 1.

The common thing is “THEY READ CAREFULLY”.

A doctor can not write or read carelessly. Life can be in danger if he reads or writes few words carelessly. He should do his reading word by word.

An army major has to write commands and read orders word by word. He can not afford to bomb a wrong place because of not reading carefully.

A Lawyer reads a lot. However, he understand that few words in a legal agreement can change the whole meaning. He needs to read word by word to ensure there is nothing between the lines.

Want to pass CFA Level 1…. read word by word!