Exam Feedback November 2021 Part 2 Exam Feedback

nc27

Active Member
Subscriber
If part 2 results are released on mid-end February, it will just show what a joke this GARP organization is ....
 

ambrosianas

New Member
No idea when level I took place, but I recall @Nicole Seaman saying that level 2 results should be out within days of Level I results.

As for CFA level I pass rate, it went as low as 22% in July last year. And 27% is still very low indeed. Maybe they have more and more candidates and need to lower the pass rate to keep the prestige/quality of the exam constant.
I took CFA1 when the pass rate suddenly dropped to 25% from above 40% in the past. I can testify that the exam questions were at least a notch easier than official curriculum EOC questions. 90% of the questions were like jokes compared to FRM1. As long as you study, in my opinion it is fairly easy to score 90+. They lowered the lv1 pass rate because historically more than half of the candidates didn't study seriously. Unlike the competitiveness of FRM candidate pool where many have already had CFA if not concurrently pursuing, more than half of CFA1 candidates aren't even motivated to finish the exam. Many folks I know taking CFA1 are "daydreamers" who count on luck without dedication.
 

ambrosianas

New Member
By the way when I took FRM1 I didn't score 1111 despite the same effort I put into CFA1. But for CFA1 I was easily above 90 percentile (more like 95+). So that should speak of the difference on candidate pool. I wouldn't compare FRM pass rate directly to CFA for reasons stated above.
 

Sjegathe

Active Member
I took CFA1 when the pass rate suddenly dropped to 25% from above 40% in the past. I can testify that the exam questions were at least a notch easier than official curriculum EOC questions. As long as you study, in my opinion it was fairly easy to score 90+. They lowered the lv1 pass rate because more than half of the candidates didn't study seriously. Unlike the competitiveness of FRM candidate pool where many have already had CFA if not concurrently pursuing, more than half of CFA1 candidates aren't even motivated to finish the exam. Many folks I know taking CFA1 are "daydreamers" who count on luck without dedication.
To ambrosians point, most try it out right after graduation to get an idea. Whereas FRM attracts pool of applicants mostly from working group or practitioners. But having taken both exams, i can say CFA’s questions are clear and goes through rigorous quality control process whereas I cant say the same for Garp exams. Whomever knows the stuff will come out of the frm Exams confused. Lol.
 

Sjegathe

Active Member
By the way when I took FRM1 I didn't score 1111 despite the same effort I put into CFA1. But for CFA1 I was easily above 90 percentile (more like 95+). So that should speak of the difference on candidate pool. I wouldn't compare FRM pass rate directly to CFA for reasons stated above.
You will get a sense of CFA when you do level 2 and 3.
 

ambrosianas

New Member
You will get a sense of CFA when you do level 2 and 3.
Currently studying lv2. As I took FRM first I found CFA2 having much overlap with FRM. While I think it's indeed deeper than CFA1, It's less broad and more focused. The depth is pretty manageable for people who have seriously studied and passed FRM or people with STEM background. I am not qualified to comment on the actual exam difficulty as I haven't taken it. But a friend of mine who took CFA2 and FRM1 back in 2019 thought FRM1 actual exam was more intense and harder than CFA2 although the materials were easier to manage than CFA2. I think the recent FRM1 exams have been more qualitative, but back in 2019 when I took it more than 80% of the questions were multiple step calculations that the large majority couldn't even finish the exam without some random guessing. I do think FRM2 questions were poorly written and more ambiguous. It was only harder than CFA1 because of its ambiguity, but a lot a lot easier than the FRM1 I took.

On a separate note, there were 15 questions I didn't even have time to look at on FRM1, but I had total 2hrs left after CFA1. Like I said I'm not qualified to compare at lv2 yet.
 
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ambrosianas

New Member
To ambrosians point, most try it out right after graduation to get an idea. Whereas FRM attracts pool of applicants mostly from working group or practitioners. But having taken both exams, i can say CFA’s questions are clear and goes through rigorous quality control process whereas I cant say the same for Garp exams. Whomever knows the stuff will come out of the frm Exams confused. Lol.
I agree. I think FRM2 is poorly written and unnecessarily ambiguous. It feels harder than CFA1 only because of its incredible ambiguity. I do think CFA questions are much clearer and better spread across topics, although the questions in my opinion are easier. I think GARP writes more challenging questions in quantitative nature for pt.1 but really poor qualitative questions sometimes for pt.2.

Seriously, my pt.2 didn't have a question on Basel Accord while that was the only thing not so ambiguous and somewhat quantitative in ops risk. It's shocking that there wasn't one question on that while the purpose of FRM is to help candidates understand Basel.
 

vatsal vora

New Member
Yes, from past experience, results for Part 1 and Part 2 are generally released around the same time. I'm sorry that I do not have more information about the date. You may want to try to email or call GARP directly to see if they can provide an answer. Unfortunately, they usually only provide us with the same information that they provide to the candidates and nothing more.
As per my telephonic conversation with GARP it will be released by end of this week. I just had a call.
 

cdiem

New Member
Subscriber
I'm sure the results will be released before January 31. Any delay beyond that date would impact those unfortunate enough to have to register for a re-take and potentially pay an increased exam registration fee. The deadline for early exam registration is January 31. It wouldn't be a good look for GARP for individuals to miss a January 31 exam registration date and then have to pay an increased fee.
 

Sjegathe

Active Member
I'm sure the results will be released before January 31. Any delay beyond that date would impact those unfortunate enough to have to register for a re-take and potentially pay an increased exam registration fee. The deadline for early exam registration is January 31. It wouldn't be a good look for GARP for individuals to miss a January 31 exam registration date and then have to pay an increased fee.
If someone fails, they will still be eligible for the discount. Things can happen and its beyond garp. I had asked that question and you will get a discounted price if you fail.
 
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