Quote for the Day 6/8/2008
Jared (Joel's Friend)--trying to offer comfort : Let's think about this, Joel. Have you ever in your life failed a test?
I might have asked--but never did--"Have you ever in your life gotten anything but an "A" on a test?"
Joel was stressing about his upcoming Chartered Financial Analyst (CFA) test in Kansas City. It is offered only once a year, and he was freaked out after learning that only half of the people who take the test pass it on their first attempt. More worrisome was the fact that he was scoring in the low 70's on the practice tests he took. So he did the only sensible thing and studied like crazy. For a number of weeks he restricted himself only to weekend social events, and used evening and night hours to study. He didn't start until after he got back from Bangladesh in February, so the expected full year of study between levels was already cut short for him. Scores on his practice tests inched up gradually, and he found the actual test easier than he expected. He will not find out how he fared for a number of weeks, probably.
One of the prerequisites for taking the test is having a Bachelor's degree, so studying for this exam is probably on the level of post-graduate work. People who become certified as a member of the CFA Institute after passing all three levels can apply to become a registered investment adviser, for example. If the application is approved, they can provide a variety of financial services and charge for it-- something Joel has been asked to do informally and has never charged for. The CFA designation is a professional one, not a legal one conferring any specific rights. People with this title have done rigorous study on the decision-making skills in the investment process and have agreed to abide by specific standards of professional and ethical conduct.
After Joel finished the test, he made his way to my sister Carol's place in Shawnee, just this side of Kansas City, and spent the night there, before driving the three and one-half to four hours home today. He hurried over to Hilda's house almost right away so I haven't talked to him much since then.
We're all glad he got most of this studying out of the way before Hilda got home from Faith Builders. A month from now she will return there to finish up with a one-month summer term, so having this window of time free of outside pressure is welcome.
I might have asked--but never did--"Have you ever in your life gotten anything but an "A" on a test?"
Joel was stressing about his upcoming Chartered Financial Analyst (CFA) test in Kansas City. It is offered only once a year, and he was freaked out after learning that only half of the people who take the test pass it on their first attempt. More worrisome was the fact that he was scoring in the low 70's on the practice tests he took. So he did the only sensible thing and studied like crazy. For a number of weeks he restricted himself only to weekend social events, and used evening and night hours to study. He didn't start until after he got back from Bangladesh in February, so the expected full year of study between levels was already cut short for him. Scores on his practice tests inched up gradually, and he found the actual test easier than he expected. He will not find out how he fared for a number of weeks, probably.
One of the prerequisites for taking the test is having a Bachelor's degree, so studying for this exam is probably on the level of post-graduate work. People who become certified as a member of the CFA Institute after passing all three levels can apply to become a registered investment adviser, for example. If the application is approved, they can provide a variety of financial services and charge for it-- something Joel has been asked to do informally and has never charged for. The CFA designation is a professional one, not a legal one conferring any specific rights. People with this title have done rigorous study on the decision-making skills in the investment process and have agreed to abide by specific standards of professional and ethical conduct.
After Joel finished the test, he made his way to my sister Carol's place in Shawnee, just this side of Kansas City, and spent the night there, before driving the three and one-half to four hours home today. He hurried over to Hilda's house almost right away so I haven't talked to him much since then.
We're all glad he got most of this studying out of the way before Hilda got home from Faith Builders. A month from now she will return there to finish up with a one-month summer term, so having this window of time free of outside pressure is welcome.
posted by Mrs. I at
7:54 PM
0 Comments:
Post a Comment
<< Home