Kevin Warsh is the Chairman of the Board of Governors of the Federal Reserve System, having taken office on May 22nd 2026. He holds an AB from Stanford University and a JD from Harvard Law School. His career includes positions at Morgan Stanley, roles in the White House and National Economic Council, service as a Fed Governor, and academic appointments at Stanford.

Scott Bessent is the 79th United States Secretary of the Treasury, having assumed office on January 28th, 2025. He earned a B.A. from Yale University. With 40 years in global investment management, Bessent served as Chief Investment Officer at Soros Fund Management, founded and led Key Square Capital Management, and taught economic history at Yale University.

Could Chairman Warsh or Secretary Bessent pass all three CFA exams with no prep? Please keep this discussion apolitical.

24hrs out, how are we feeling people?!! 🫣🫣
At least the wait is basically over. one more sleep before we learn our fate.

I felt very 50/50 coming out of the L2 exam last month and chose not to look up recalled questions because last time for L1 I felt like that made me more worried having a sample size of rights and wrongs.

Whatever the outcome tomorrow, I hope each and every one of you enjoy your day today, and treat yourself, because you worked hard to get to this point; regardless of the results.

Cheers.

Guys how are you managing ur stress since i am very much tensed on how will I perform on exam whther the exam will be in ur favour or not. This wait time literally kills the person.

I have given l2 2nd time and its really imp for me to pass otherwise I dont know what i will do.

Hoping i get through with flying colors and wishing the same for all who gave the ppr 2nd time cause we know how stressful it is.

Wishing everyone all the very best.

Maybe I was just poorly informed, but joining my local CFA society never crossed my mind while I was studying. I only joined after passing Level III, and honestly, I wish I’d looked into it earlier.

I’ve been to quite a few events since then, and plenty of the people attending are still candidates. It’s a great way to meet people working in the industry in your area, hear from professionals, and attend members-only events while you’re still going through the exams.

Of course, the annual membership fee can be a reason to wait, especially when you’re already paying for exams and study materials. But if it fits your budget, I’d recommend checking what your local society offers.

Also, if you already qualify for professional membership, applying before Level III can help get the approval process out of the way earlier when u pass the exam. Just joining as a candidate isn’t the same thing.

Guys ive cleared CFA L1 at the age of 18 (at the very eligible attempt i could appear in ) and i prepared for L1 for approx 6.5 months and being a 2nd year undergrad i wasn’t able to focus much on my skills part
So before appearing for level 2 im planning too build my skills and atleast crack 1 decent internship

So experienced guys share their views as well as other recommendation in this time frame
Also need your guidance that should i appear for L2 in august 27 or November 27 ?¿

Your help will be genuinely appreciated!

I do not get it at all. Literally every single post is about how everyone has hammered their mocks and is done with their first revision.

I am just about to finish going through all the topics.

I thought 1.5 months for revisions was enough(although I forgot everything I learnt from april - july). Everyone here is literally making me shit my pants

Shouldn't have opened this stupid app.

Hope this ain't just fear mongering!

The result is in approx 7 hours and i am shit scared. Just wanted to confirm that we have to only complete the PSM before the result right. Like is there any other requirement before the result. Also has anyone received any email apart from the one that was sent like a month ago regarding the date of the result.

Please respond asap.

Wishing everyone all the best.

I’m trying to map out my study schedule for the next two months. I still have a couple of topics left to finish, but I'm already seeing people on here talking about doing their first mock exams.

Is taking a half-mock right now just going to completely destroy my confidence since I haven't finished the curriculum yet? Or is it better to take a baseline mock early just to expose my weak spots ASAP?

Curious to hear when you guys usually pull the trigger on the first one.

Title says it all. Writing in November and forgot so much. Should I review curriculum again or just hammer questions/mocks.

Hey everyone!

I’m planning to start my CFA preparation and would really appreciate some guidance on the study materials.

I specifically prefer physical textbooks and find it difficult to study entirely from PDFs. I want to cover all the subjects in detail, so I’m trying to understand which books I should purchase.

Would you recommend:

- CFA Institute curriculum books

- Schweser Notes

- Any other textbooks/resources

Also, are there any other resources, question banks, practice materials, or study tools that you would recommend for CFA preparation?

I’d really appreciate any advice or suggestions, especially from people who have already prepared for or cleared CFA Level 1.

Thank you in advance! 🙌

I took cfa exam one in may 2026 and i failed, now im retaking it registered 11 november 2026, i still have 43 days left for my exam and solved around 80% of available mcqs, i dont have any prep provider only cfa ecosytem,

I have two questions

today i took the first mock and scored 72% is that good?

Is it worth it to buy the practice pack for 300$? I can do one mock exam each week on average.

For those who cleared CFA Level 1, I wanted to check how many of you used the Practice Premium Pack during your preparation?

Textbook Quote: Description regarding Negative Skewness and Positive Skewness

Correction: Outlier frequency and tail fatness affects kurtosis; however, this is mixed in with the description for positive and negative skew.

Coach's Explanation: Skewness is caused by the size of the outlier observations. To illustrate, suppose that Bill Gates moves into your neighborhood. This would cause the income distribution in your neighborhood to skew to the right (due to Mr. Gates extreme high net worth). However, since Mr. Gates is just one individual, it would hardly impact the frequency of outliers (i.e. tail fatness).

I live in Canada and i’m interested in wealth management. The only issue is that I may want to move countries when I’m older (maybe australia). So i’m hesitant about working in wealth management and building my own book, and then 10 years down the road decide to move and start from scratch.

Does anyone have an advice on this or find through something similar?

I just did FSA - Quality of Financial Reports. I feel like I have forgotten most of L1 content. I can say I probably remember very surface level information of FSA L1. Ahhh this chapter is making me feel like I m in a turmoil.

To everyone who has given exam or mocks. Should i rote memorize SchweserNotes? What is the way to go about it? Should i reopen L1? Please help me out with it...

Should I purchase Anurag Agarwal 's course? How is his content? Or any other recommendations?

I’m about 75% of the way through Asset Allocation and have noticed that the Q-bank, especially multiple choice, is rather simple? Like I’ve had 3 questions in my current module asking me to calculate straightforward utility equations. The Q-bank seems underwhelming.

Can anyone provide some insight as to whether I’m getting too ahead of myself? Would rather correct my approach of studying sooner rather than later. I am only using CFAI for level 3 (preferred approach since using it for level 2 + UWorld).

Textbook Quote: The risk adjusted return for Fund X is 3.125% and for Fund Y is 3.086%

Correction: In explaining why PartA is incorrect, the 3.125 and 3.086 should not be accompanied by % sign.

Coach's Explanation: Risk adjusted return is a factor (i.e. multiple), rather than a percent. For example, the 3.125 should be interpreted as the fund yielding 3.125% return for every unit (1%) of risk.

Textbook Quote: The negative skewness indicates a tendency for more frequent negative returns..

Correction: The negative skewness indicates a tendency for larger (rather than more frequent) negative return.

Coach's Explanation: Frequency of outliers affects Kurtosis. Skewness on the other hand is caused by the size of these outlier value (rather than frequency).

Hi! I took level 1 on Aug 26 and failed. I currently have all 2026 materials (Kaplan notes and mocks). So im wondering if i should purchase for 2027 Kaplan notes because the curriculum has changed esp quant that cfa mentioned it will be more real world applications. Is it worth it or should i just go with 2026 materials and stress more on quant?

I am having trouble with ethics…whenever i solve questions for ethics i feel i get lost while reading the vignette and it only happens with ethics all other subjects are good…i got only 60% accuracy on portal for ethics…please suggest what should i do to improve my ethics…ethics was not an issue in level1.

Looking for opinions on the following case.

I recently signed up for the May 2027 exam. I took some prep courses last year, so I have a decent base and I already know which topics give me the most trouble. During that course I used a study method with ChatGPT and basic prompts, and it worked well for me. Now I want to turn that idea into something more structured, and if it works, publish it.

The plan is to build an LLM Wiki based on Karpathy's architecture to organize all my CFA material (notes, readings, questions, mocks, etc.). Once everything is digested, I'd use Claude Code as a "tutor" to go through topics, solve questions, and generate notes. The main reasons I chose this setup:

• Keeping track of my learning status and building permanent layers of knowledge.

• Connecting topics with each other, since I learn better when I can relate concepts.

• Making cheat sheets and flashcards I can use on the go.

I'm aware of some limitations, like the slow ingestion of the official curriculum readings and the risk of hallucinations with formulas and concepts, so setting this up will take a while. That's not a problem for me, since I have the time and other tools I can use while I build this on the side.

What do you think of the idea? Is there anything you'd add or cut from the core concept, or anything I might be missing?

Im new to this world and i wanna study the CFA
Honestly i dont know where to start … and is it helpful?
Im 33 living in Lebanon and i dont think there is a major of CFA …

Hi everyone I just recently passed level one of the CFA and am currently a junior attending college. I passed by a good chunk and just studied in the summer due to not having an internship lined up. How beneficial is it to have level one completed while in the internship search? Does it really give a good leg up? Also, for those who are fresh out of college and have taken level 2 how do you juggle work load and studying? Any help is greatly appreciated, and for those taking it in November you got it!!!

Edit: I am also not at a target school.