Whether the other people pass level 1 easily is irrelevant to you. You don't know how much the effort put in by those who passed the exam and we do not know how smart and resourceful you are. So the correct question should be "how you make yourself pass level 1".

You never try then you will never know. When I first started to study CFA Level I, I was then working as an application engineer and later I full time study 2 years to complete the CFA program. But I am still able to get a financial related job even my previous job not relevant to financial job.

By the way, I am getting the salary of an assistant manager after probation period though my title is still rank at executive, it could be due to the CFA professional that I have achieved.

The basic entrance requierments are stated below

"Have a bachelor's (or equivalent) degree

or be in the final year of your bachelor's degree program at the time of registration

or have four years of qualified, professional work experience

or have a combination of work and college experience that totals at least four years (Note: Summer, part-time, and internship positions do not qualify)

If you initially enroll/register as a final year undergraduate student with a degree in progress, you may not register for the Level II exam until you have earned your degree, or obtained work experience that meets the program’s entrance requirements. At the time your degree is awarded, you may update your account education information to certify that your degree has been received."

http://www.cfainstitute.org/cfaprogram/pro...ages/index.aspx

So for your case, you need prove you have 4 year working experience (irregard if the 4 year working experience is financial or professional related) together with your diploma.

Passing CFA or not does not matter. The more important is to pass the SC module exam, the so-called licensing test which is ultimate to start in the investment bank. Unless you are going for equity research side then only what you have learnt from the CFA program will prepare you for the job.

According to my 'interpretation' of the entry requirements for the CFA program,

- if you have a degree, you don't need to prove you have working experience;

- if you don't have a degree but a diploma, then you have to prove your work and college experience all together should be at least 4 years, and the working experience should be professional related;

- if you don't even have a diploma, you need to prove you have qualified and professional working experience;

- if you registered for CFA Level I during the last year of your degree program and subsequently you pass Level I, you may not proceed for Level II if you fail to earn your degree later, unless you can prove you have obtained the relevant qualified working experience that meets the entrance requirements.

- the 'qualified and professional experience' should be referring to the financial professional related experience. According to the CFA Institute, working experience should be "at least 50 percent directly involved in the investment decision-making process and engaged in responsibilities and/or producing a work product that informs or adds value to that process. Part-time positions and managing your own investments do not qualify as 'qualified and professional experience'. For my opinion, back office job might not be able to expose you much to the experience of "at least 50 percent directly involved in the investment decision-making process".

- previously I heard from other friends that candidates need to complete the CFA program (from Level I till Level III) within 7 years, but now it looks like there is no such restriction in time to complete the program.

Hope these can clear some of your doubt.

For more information, indeed you should email your queries to the CFA institute and we are pleased if you can share what have the CFA institute revert back to you.

This post has been edited by kinwing: Apr 14 2011, 10:03 PM

Ya, this also recalls me a friend of mine who failed level II twice and 3 or 4 times for level III but he is still eligible to sit the next coming CFA exam .

I have CFA books for level 1 (2008), level 2 (2009) and level 3 (2010). If you want to refer the latest version, the old version might not be what you want and you should then go check the latest topic outline from the CFA's website.