CFA Good soft? Forum
- donzoli
- Posts: 144
- Joined: Mon Apr 06, 2009 6:53 pm
CFA Good soft?
I found out this morning that I passed Level 1 of the CFA(Chartered Financial Analyst) I was wondering if anyone else here just found out, has passed some levels in the past, or is a ful charterholder. I know "softs" aren't that big of a deal unless they are truly ridiculous, but I assume the CFA looks decent. Also, would Adcoms have any clue what the CFA is really?
- TheBigMediocre
- Posts: 640
- Joined: Wed Feb 11, 2009 5:53 pm
Re: CFA Good soft?
My thoughts are that it's a good soft in terms of raising an eyebrow but it's no game-changer. I would definitely include it in your applications and make sure to describe what it actually is for any adcomm who might not be familiar it.
Congratulations on passing a very difficult exam. I think it was something ridiculous like a 1/3 passage rate for level one last year.
Congratulations on passing a very difficult exam. I think it was something ridiculous like a 1/3 passage rate for level one last year.
- donzoli
- Posts: 144
- Joined: Mon Apr 06, 2009 6:53 pm
Re: CFA Good soft?
Thanks, the pass rate last year was closer to 1/3, this year it jumped to 46%, which is still not too high. Possibly a bunch of wall street guys who were layed off took it this year to get a leg up on finding another job, but who knows.TheBigMediocre wrote:My thoughts are that it's a good soft in terms of raising an eyebrow but it's no game-changer. I would definitely include it in your applications and make sure to describe what it actually is for any adcomm who might not be familiar it.
Congratulations on passing a very difficult exam. I think it was something ridiculous like a 1/3 passage rate for level one last year.
- SkiBumLawyer
- Posts: 11
- Joined: Sun May 17, 2009 1:40 pm
Re: CFA Good soft?
I've always thought about taking the CFA test, finance/accounting has always come easy naturally. About how much money and time did you spend on it?
I think it would be a good addition to a law degree. I've taken some classes with law students and they are generally clueless about finance related matters.
Also, even for Level 1 is work experienced required?
I think it would be a good addition to a law degree. I've taken some classes with law students and they are generally clueless about finance related matters.
Also, even for Level 1 is work experienced required?
- TheBigMediocre
- Posts: 640
- Joined: Wed Feb 11, 2009 5:53 pm
Re: CFA Good soft?
While we're on the topic of the CFA...
I plan on sitting for the CPA exam and somebody told me that if you pass all the sections of the CPA, the CFA Institute will give you accreditation for CFA Level 1. Anyone know if this is hearsay?
I plan on sitting for the CPA exam and somebody told me that if you pass all the sections of the CPA, the CFA Institute will give you accreditation for CFA Level 1. Anyone know if this is hearsay?
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- philip.platt
- Posts: 84
- Joined: Thu Jun 18, 2009 9:43 pm
Re: CFA Good soft?
congrats donzoli
I took L2 in June . . . hopefully I passed as well, but might be taking it again next year - who knows
the CFA + JD ( + a few other things )wraps into my master plan so I hope to knock out the three levels regardless, but I think applying for an MBA might have a bit more upside (soft-wise) than applying for the JD as they seem to put very much weight on the LSAT, etc, but cannot speak from experience
I took L2 in June . . . hopefully I passed as well, but might be taking it again next year - who knows
the CFA + JD ( + a few other things )wraps into my master plan so I hope to knock out the three levels regardless, but I think applying for an MBA might have a bit more upside (soft-wise) than applying for the JD as they seem to put very much weight on the LSAT, etc, but cannot speak from experience
- philip.platt
- Posts: 84
- Joined: Thu Jun 18, 2009 9:43 pm
Re: CFA Good soft?
thats hearsay (aka BS)TheBigMediocre wrote:While we're on the topic of the CFA...
I plan on sitting for the CPA exam and somebody told me that if you pass all the sections of the CPA, the CFA Institute will give you accreditation for CFA Level 1. Anyone know if this is hearsay?
you have to take L1 of the CFA exam even if you have a CPA, PhD in Finance, etc etc
- irie
- Posts: 323
- Joined: Sun May 31, 2009 9:50 pm
Re: CFA Good soft?
46%?????!?!? are you kidding me... looks like the CFA is becoming diluted. when I passed it last december the rate was 35% bah. -_-
and I have a feeling most adcomms wouldnt put too much weight on it. they probably know what CFA institute is but most of them won't have any idea how rediculously hard the exam is to prep for and pass.
on the plus side, if you just took CFAs and you are prepping for LSATs, the LSATs will seem like a joke
and I have a feeling most adcomms wouldnt put too much weight on it. they probably know what CFA institute is but most of them won't have any idea how rediculously hard the exam is to prep for and pass.
on the plus side, if you just took CFAs and you are prepping for LSATs, the LSATs will seem like a joke
- chadwick218
- Posts: 1335
- Joined: Tue Feb 03, 2009 10:15 pm
Re: CFA Good soft?
I am both a CFA and CPA. Although I think that it's great soft to have and will really help you more post-graduation depending on the type of law that interests you, I worry that too few making law school admissions decisions really understand the rigor involved in obtaining the CFA designation. Again, depending on what type of law you are interested in, it may actually help you out (or at least I am hoping so) come OCI. Donzoli, by the way, congrats!
- chadwick218
- Posts: 1335
- Joined: Tue Feb 03, 2009 10:15 pm
Re: CFA Good soft?
+1 ... level one really serves to weed everybody out ... you've got to take it!philip.platt wrote:thats hearsay (aka BS)TheBigMediocre wrote:While we're on the topic of the CFA...
I plan on sitting for the CPA exam and somebody told me that if you pass all the sections of the CPA, the CFA Institute will give you accreditation for CFA Level 1. Anyone know if this is hearsay?
you have to take L1 of the CFA exam even if you have a CPA, PhD in Finance, etc etc
- chadwick218
- Posts: 1335
- Joined: Tue Feb 03, 2009 10:15 pm
Re: CFA Good soft?
yeah, 46% does sound very high ... i think that when i took it five or so years back, the pass rate was closer to 30% ... i agree that the discipline learned while studying for the CFA will come in very handy come LSAT prep time.irie wrote:46%?????!?!? are you kidding me... looks like the CFA is becoming diluted. when I passed it last december the rate was 35% bah. -_-
and I have a feeling most adcomms wouldnt put too much weight on it. they probably know what CFA institute is but most of them won't have any idea how rediculously hard the exam is to prep for and pass.
on the plus side, if you just took CFAs and you are prepping for LSATs, the LSATs will seem like a joke
- donzoli
- Posts: 144
- Joined: Mon Apr 06, 2009 6:53 pm
Re: CFA Good soft?
SkiBumLawyer wrote:I've always thought about taking the CFA test, finance/accounting has always come easy naturally. About how much money and time did you spend on it?
I think it would be a good addition to a law degree. I've taken some classes with law students and they are generally clueless about finance related matters.
Also, even for Level 1 is work experienced required?
I signed up really early, so I think the exam cost ~$1000 and they give you all of the books you need to be able to pass. If you sign up later, I think it jumps to around $1400. I also bought the schwesser notes(~$400) which are basically the cliff notes for the books they provide. Then study time, I put in somewhere between the 250-300hrs that they recommend.
- irie
- Posts: 323
- Joined: Sun May 31, 2009 9:50 pm
Re: CFA Good soft?
I really hope the 46% is because of the wave of laid-off finance gurus with investing experience and not because of the fact they changed the multiple choice questions from 4 choices to 3 choices and an extra 10% of undeserving people guessed their way into a Pass.chadwick218 wrote:yeah, 46% does sound very high ... i think that when i took it five or so years back, the pass rate was closer to 30% ... i agree that the discipline learned while studying for the CFA will come in very handy come LSAT prep time.irie wrote:46%?????!?!? are you kidding me... looks like the CFA is becoming diluted. when I passed it last december the rate was 35% bah. -_-
and I have a feeling most adcomms wouldnt put too much weight on it. they probably know what CFA institute is but most of them won't have any idea how rediculously hard the exam is to prep for and pass.
on the plus side, if you just took CFAs and you are prepping for LSATs, the LSATs will seem like a joke
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- irie
- Posts: 323
- Joined: Sun May 31, 2009 9:50 pm
Re: CFA Good soft?
you can take all 3 levels with zero work experience, you just won't be considered for charterholder status until you've had 3 years of experience in an investment management role. although from what I've heard, that role is pretty loosely interpreted.SkiBumLawyer wrote:I've always thought about taking the CFA test, finance/accounting has always come easy naturally. About how much money and time did you spend on it?
I think it would be a good addition to a law degree. I've taken some classes with law students and they are generally clueless about finance related matters.
Also, even for Level 1 is work experienced required?
- donzoli
- Posts: 144
- Joined: Mon Apr 06, 2009 6:53 pm
Re: CFA Good soft?
philip.platt wrote:congrats donzoli
I took L2 in June . . . hopefully I passed as well, but might be taking it again next year - who knows
the CFA + JD ( + a few other things )wraps into my master plan so I hope to knock out the three levels regardless, but I think applying for an MBA might have a bit more upside (soft-wise) than applying for the JD as they seem to put very much weight on the LSAT, etc, but cannot speak from experience
I'm actually in between my first and second year of my MBA. I'm hoping my MBA, CFA,time removed from UG, and some other softs can make up for a poor UGPA. That said, is it possible or advisable to show your GMAT score on your application somehow?
- seespotrun
- Posts: 2394
- Joined: Thu Jul 09, 2009 9:36 am
Re: CFA Good soft?
Also the passing rates only include individuals who end up sitting for the test. It does not include the massive # of people who figure out they can't hack it and give up prior to the test date.
- philip.platt
- Posts: 84
- Joined: Thu Jun 18, 2009 9:43 pm
Re: CFA Good soft?
i'm not really sure - I probably won't apply to law school for another couple of years . . . just jumping into the LSAT now -donzoli wrote:philip.platt wrote:congrats donzoli
I took L2 in June . . . hopefully I passed as well, but might be taking it again next year - who knows
the CFA + JD ( + a few other things )wraps into my master plan so I hope to knock out the three levels regardless, but I think applying for an MBA might have a bit more upside (soft-wise) than applying for the JD as they seem to put very much weight on the LSAT, etc, but cannot speak from experience
I'm actually in between my first and second year of my MBA. I'm hoping my MBA, CFA,time removed from UG, and some other softs can make up for a poor UGPA. That said, is it possible or advisable to show your GMAT score on your application somehow?
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- donzoli
- Posts: 144
- Joined: Mon Apr 06, 2009 6:53 pm
Re: CFA Good soft?
seespotrun wrote:Also the passing rates only include individuals who end up sitting for the test. It does not include the massive # of people who figure out they can't hack it and give up prior to the test date.
I know at least 2 people who signed up and didn't sit. That's pretty insane to spend 1-2k on a test and not even take it.
- donzoli
- Posts: 144
- Joined: Mon Apr 06, 2009 6:53 pm
Re: CFA Good soft?
Anyone with an opinion on whether I could insert my GMAT score into my application somehow as another testament to my aptitude and to distract from a poor UGPA? If so, what would be the best way to do this, as part of a UGPA addendum which I plan on writing?
- capitalacq
- Posts: 639
- Joined: Thu Feb 05, 2009 2:42 am
Re: CFA Good soft?
congrats on passing. i'd include it on your resume, but it wont have any effect.
you can put it on your resume, but once again, it won't really make a difference (or "distract" them)... insert a higher LSAT if you want to distract them from your GPA.donzoli wrote:Anyone with an opinion on whether I could insert my GMAT score into my application somehow as another testament to my aptitude and to distract from a poor UGPA? If so, what would be the best way to do this, as part of a UGPA addendum which I plan on writing?
- donzoli
- Posts: 144
- Joined: Mon Apr 06, 2009 6:53 pm
Re: CFA Good soft?
Agreed, I'll be inserting as high as possible LSAT as well. I was just wondering if it could be seen as yet another example of my potential as opposed to GPA.
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- PrayingforHYS
- Posts: 303
- Joined: Mon Jul 13, 2009 12:37 pm
Re: CFA Good soft?
sounds like a good soft, just another show of dedication, always a plus (albeit probably not too major a plus at the top schools)
anyway, to avoid any confusion about how difficult the test is, you may even want to include some #s, such as "average passage rate over the last 5/10/whatever years is X%" ... find the lowest percentage possible that will work without actually lying or anything ... that just highlights your accomplishment and will give them an idea of just how difficult the test is
anyway, to avoid any confusion about how difficult the test is, you may even want to include some #s, such as "average passage rate over the last 5/10/whatever years is X%" ... find the lowest percentage possible that will work without actually lying or anything ... that just highlights your accomplishment and will give them an idea of just how difficult the test is
- Mickey Quicknumbers
- Posts: 2168
- Joined: Tue Apr 28, 2009 1:22 pm
Re: CFA Good soft?
I'm seriously considering taking this when I graduate, a question for those in the know: how much does having a finance undergrad actually help you on this test? I've been taught and tested discounted cash flows, time value of money, statistics and probability theory, ecnomics etc., will this mitigate study time or am I still looking at 300 hours?
- donzoli
- Posts: 144
- Joined: Mon Apr 06, 2009 6:53 pm
Re: CFA Good soft?
I wish I could tell you, but I didn't do Bus. undergrad, so I don't really know. Level 1 isn't necessarily too in depth on any of the subjects, but it covers a ridiculous amount of information, a lot of which you might have touched on. The way to look at it would probably be like taking a final that covers everything you have learned the last 4 years.adh07d wrote:I'm seriously considering taking this when I graduate, a question for those in the know: how much does having a finance undergrad actually help you on this test?
- donzoli
- Posts: 144
- Joined: Mon Apr 06, 2009 6:53 pm
Re: CFA Good soft?
I like the suggestion, I was planning on doing pretty much that.PrayingforHYS wrote:sounds like a good soft, just another show of dedication, always a plus (albeit probably not too major a plus at the top schools)
anyway, to avoid any confusion about how difficult the test is, you may even want to include some #s, such as "average passage rate over the last 5/10/whatever years is X%" ... find the lowest percentage possible that will work without actually lying or anything ... that just highlights your accomplishment and will give them an idea of just how difficult the test is
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