CFA exams - how hard?

R

rollo28

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Hi all,

I am looking for advice on the CFA exams.

I am a recently qualifed solicitor looking to move away from law for a multitude of reasons with the main one being the lack of job opportunites both here and abroad.

I am looking into applying to do the CFA's next June and wondering if I have any chance of passing them without having worked in a financial backround before. They are very expensive so I don't want to waste my time and well earned cash on them if there is no real chance of me passing them.

I am a Commerce graduate so I do have some finance experience but from many years ago.

Many thanks for all advise given.

Rollo28
 
You don't need a financial background but it helps of course. They are difficult in the sense that for the first part, the amount of knowledge needed is quiet large but it is manageable. With a commerce and law background, you should be fine.

Do you mind me asking why you say they are very expensive? Are you doing them through a college? It has been a few years since I did mine but I just did self study and it was cheap enough. I did have the financial background though.

The pass rate is pretty low (high 20's when I did it) for Level 1 but if you put in the time, you will be fine. There is nothing that is earth shattering difficult.
 
Sunny,

Many thanks for the reply.

I mentioned that they were expensive because on the CFA website it gave a price of over 1k dollars to register for the first set.

Maybe that isn't expensive for these particular qualifications, but it's expensive when looking at my current financial situation coupled with the relative inexperience I have with the topics covered.
 
rollo28 said:
Sunny,

Many thanks for the reply.

I mentioned that they were expensive because on the CFA website it gave a price of over 1k dollars to register for the first set.

Maybe that isn't expensive for these particular qualifications, but it's expensive when looking at my current financial situation coupled with the relative inexperience I have with the topics covered.
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Yeah, that's more expensive than it was when I did them.

Have you contacted CFA Ireland?

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They are usually pretty helpful and will be able to give you a better idea about what is involved. They used to run information evenings as well. I really wouldn't worry too much about the inexperience. Level one is really just basic finance concepts. It's the volume that is the problem.
 
Thanks Sunny,

I'll give them a shout and see if they have any information evenings on soon.
 
although nothing in it is very hard, the sheer quantity of what's covered, and the level of detail you need to know to pass made it the hardest thing I ever did

Pass rates are about 50% at each level. Financial background is useful but not necessary because they start from a basic level and build it up.
One question I'd ask you to think about is do you think it will lead to career opportunities?
Because there is not much out there at the moment
 
I know there aren't many opportunites in Ireland at present so I'm thinking about going towards London and looking for jobs where I could use my legal experience whilst adding to it with the CFA's.

As far as I know there are investment banks that like peorple with these kind of skills.

Anything to get out of this country anyway!
 
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