Finding Success From Failure
Failure is a reality of the CFA Program for many candidates, sometimes multiple failures at the same level.Low pass rates means that an average candidate will take up to four years to complete the CFA Program. This means that the average candidate will fail at least once during their time studying the CFA Program. Daren Miller tutors individual candidates who have failed the CFA exam. These candidates need extra learning and motivational support to rebuild confidence.
Dealing with CFA exam failure can be emotionally difficult, especially for high-flying candidates with a track-record of outstanding academic success. Getting over the bad news can take time.
By talking about failure, Daren Miller, CFA, helps candidates get over sadness, anger, and regret. These are common emotions following unfavorable CFA results. However, as failure is expected in the CFA Program, it is important to get over the bad news quickly and to revert to a winning exam resit strategy.
It is important to investigate to find out why the exam fail occurred. Failing to plan is common in the CFA Program as it is based on self-study, which requires intense focus, discipline, and sacrifice to succeed. A common symptom of failing to plan is cramming, where overwhelmed candidates begin their studies too late in the study year (for example March for the June sitting). This leads to taking shortcuts and second-guessing what may or may not be on the exam. Some candidates even guess that entire topics will not be tested, a high-risk, desperate approach.
Daren Miller assists CFA candidates to build personal study timetables early in the study season, helping to ensure a healthy balance of CFA study, personal time, family life, and work demands. The study plan can be incorporated into private CFA tutoring so that once a plan is agreed, progress meetings can be arranged to ensure that key study goals are achieved. Daren Miller offers post-exam interviews and analysis of exam feedback, including fail band and topic-level performance.
Another common problem is having the same exam-taking strategy for all three levels. Each level of the CFA Program is unique, so each level requires a different study and exam-taking approach. Daren Miller tutors CFA candidates at all three levels of study and understands the major and subtle differences between them.
Panic on exam day has also been cited as a reason for failure, though this is perhaps a symptom of cramming combined with not having the appropriate level-specific exam strategy. Daren Miller works with candidates to alleviate pre-exam nerves, striking the right balance between having enough curriculum knowledge to get to the right answer and having enough time to complete and double-check the exam before returning it to the proctors.
Contact Daren Miller, CFA for confidential advice and action plan for your CFA resit.