Plan your next move

Don't let your hard work go to waste

If you did not pass your exams, the important thing now is to think about why, and to plan your next move.

The CFA Level I exam is a challenging syllabus, so there is no shame in not passing first time. If you, for example, had a busy period at work leading up to the exams, or if you started later than late August with your studies, then it was always going to be hard work. What you do need to think about is your results banding. If it is 8-10 you were probably very close, so compared to first time candidates, you don’t have to do very much to get those few extra marks. Between 5-7 means there is a reasonable amount of work to do, but you still have some good knowledge you can build on.

After all the work you put in, it would be a shame to let it go to waste.

Syllabus changes

The good news is that the syllabus changes are not too big. See below for an overview:

Economics

The readings on economics have completely changed. Whilst there is overlap between the old and the new material (i.e. supply and demand, cost behaviour, market structures), we would recommend starting from scratch with the new materials to ensure complete coverage. Study session 6 is completely new, bringing in international trade and currency exchange rates.

Financial Reporting & Analysis

There have been updates throughout the FR&A readings. In most cases these involve new case study examples in the text with more recent excerpts from financial statements. Note that Readings 26 and 30 (was 33 and 37) make specific reference to investment property. This is an addition to the Learning Outcome Statements. Old Reading 43 International Financial Standards Convergence has been removed from the syllabus, however Reading 24 Financial Reporting Standards has been expanded in this area.

Corporate Finance

The Corporate Governance reading has been updated. The changes are not substantial, but it is recommended that any 2011 candidates review the updated version in the CFA curriculum.

What to do next

If you were a BPP student and attended all classroom courses, you are entitled to attend again under the Pass Assurance scheme. Have a look at the course dates and prices and contact customer services on financialservices@bpp.com . Online classroom students can also sign up for a repeat online course free of charge. Any replacement 2012 materials (question banks etc) are available to any re-sitting BPP students at a 50% discount.

If you studied on your own or with another course provider, why not join us on a BPP course. You can choose classroom or online, both of which offer you a wealth of hard copy and e-learning resources. We have question banks and mocks with over 3,000 multiple choice questions, downloadable pre-recorded lectures, mind maps, pass-cards and formula sheets, all of which can also be purchased separately from BPP Learning Media.

You should also make good use of the CFA Institute resources. You should work through all the multiple choice questions in their books. If you didn’t do so this time, it could be a reason for not meeting the minimum passing score, as a lot of exam questions repeat in style, if not in exact content. You must also make sure you do the CFA Institute mock, as that is also close to the real exam in content.

If you would like to talk to us about your study options, call
020 8746 4178 and we can arrange for one of our tutors to call you back. Alternatively, email us on financialservices@bpp.com

For more information visit our website.

Discuss next steps with a CFA Tutor.
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WHY STUDY YOUR CFA® AT BPP?

Our experience - Over 15 years experience helping students pass their CFA® exams

Expert tutors- BPP's industry leading tutors all have practitioner experience and have passed the CFA® exams themselves

Smart learning - With prioritised study materials we teach only what you need to know to focus your studies and help you pass the first time

Pass assurance - We will allow you to sit the equivalent course again free of charge if you do not pass. T&C's apply

Flexible study - Download lectures on demand so you can study when it suits you best

Practice makes perfect- Access mock exams and progress tests to make sure you get it right come exam time

Johanna Barakat
Head of Quantitive Analysis, Integeral (Completed her CFA® level 3 with BPP in 2010)

        The financial world is changing and the CFA course really keeps up-to-date with these changes.