On a Saturday in June, men and women around took a couple of tests. They were the Level I and II of the CFA and while outsiders, family members, MBA grads and the like would never understand how much these exams meant, test-takers knew all too well. Hundreds of hours of studying. Thousands of dollars in test prep books and classes. Social lives sacrificed. Memorial Day weekends uncelebrated. Relationships with neighbors on the receiving end of multiple requests to "Shut the hell up in there I'm trying to study!" more than a little be strained. Episodes of Ladies of London never watched. The downside would be that it was all for nothing. The up? The thrill of one day putting those three little letters next to their name.
The ensuing weeks have undoubtedly been torture. Going over the answers in one's mind and then going over them again. Comparing notes with a friend only to find you put down the exact opposite, comforting yourself with the knowledge that this guy is the dumbest person you know, only to wake up in a cold sweat with the terrifying thought that he might be an idiot savant whose brilliance lies in taking standardized tests about asset valuation, financial reporting and analysis, and portfolio management techniques.
So while today, and the days leading up, have been full of nerves, it also brings sweet relief. No more second-guessing. No more excusing yourself during conference calls to go throw up. No more alienating your friends by trying and failing to explain to them the concept of CFA Camp.
Of course, the 42% and 46% of Level I and Level II takers who passed are probably feeling a bit better than those who did not. If you're in the latter group, remember: no one is perfect, not even the former CEO of the CFA Institute. And if you need a place to talk about how you're feeling, go on and let out.
CFA Exam Results [CFAI]