Monday, June 9, 2008

Relief for a while

Took my CFA exam Level 1 yesterday. Studied so hard especially over the last 2 months. In my opinion, Level 1 should not be that difficult if you have Finance or Accounting background. Whereas for me, its very very difficult because everything seems new to me and I do not have a foundation to back me up. There are so many things I cannot understand and I took longer than others to grab basic theories.

I heard that there are over 5000 people taking the exam this June. It really puzzled me why so many people taking this exam? Is there so many Analyst in Singapore or is the demand so huge for people with this qualification? 3 Expo Halls were filled up just for the exam but it was well organised and very professionally conducted. Each exam cost around $1,500 Singapore Dollars, including membership fees and basic study material. So CFA institute must be really rich. 5000 x $1,500 = $7.5 million in just 1 exam... Many like me, went for Class in Kaplan and it cost me additional $2,500. Really don't know if I had made the right choice in this investment...

I managed to create some space in my bookshelf to put my books aside, hopefully forever. I have only 20% confidence of passing this exam. It was so tough and I never did so much guesswork in any exam before. I don't think I'll be lucky enough to get the approximate 68% score which is the passing grade. I must get 164 questions correct out of the 240 questions.

Sigh of relief but its a new start from today onwards. Time to focus on my career... 2 months later, the books may be out of the shelf again.


Anonymous said...

Hey, don't dwell on it once it's over. All the best!

Anonymous said...

Wishing you all the best.


Anonymous said...

Only the fittest survive in the world of finance.

You can do it, Mr Khiat! Keep your flame through, and with glare!!!