First of all, cfa does not restrict anyone to voice their opinions. It is clearly written under standard 7 of ethics Second, just because cfai increased window and shortened time doesn’t mean it becomes ‘easy’ to pass. There is zero correlation. Third, cfai controls the results. If you get x% it doesn’t guarantee passing the exam. Your performance is seen in accordance with other candidates too. Fourth, just because a lot of people are taking cfa exam, it doesn’t diminish its value. A lot of people pursue masters degree, that doesn’t mean that there is no value of masters degree. So guys, if you wanna take the exam just take it. No knowledge is waste! There is value of cfa please dont get fooled by this video.

@BrianKehm

2 жыл бұрын

Thanks for watching and the comments… but you might want to rewatch it and all the way to the end. I say multiple times that these changes are (small) chips to the value and the CFA exams are still valuable.

@bentecastro9425

2 жыл бұрын

Knowledge is good for the society as a whole. In my view, those already charterholders should use the designation to keep growing professionally and not as an artificial entry barrier, if more people have access to the knowledge conferred by the designations presumably financial crises will be less likely to happen or at least not to the extent that we have experienced them recently. Creating artificial stressful environments to replicate the real deal at investment banks is simply wrong, those practices have proved useless for productivity and will be eradicated in the long term.

@typicalgamer5560

5 ай бұрын

@@BrianKehm then why the ludicrous clickbait title?

@BrianKehm

5 ай бұрын

@@typicalgamer5560 you think this is a clickbait title 😂

With all due respect, this guy seems like such a hater. He passed when the pass rate was prob in the 50%s, and he's complaining about the ppl who's pass rate is in the 20%s. If anything, it may be more challenging now.

@BrianKehm

2 жыл бұрын

I published this video well before the drop in pass rates. And if the lower pass rates continue, that more than offsets the small chips in value that I pointed out. You could have easily seen this by looking at the other comments.

@harrybalsagna24

2 жыл бұрын

@@BrianKehm Fair point. The May 2021 results did come out after your video dropped. With that being said, even before the pass rates were announced, I fully expected them to drop because there are less questions in the new model.

@practitioner9349

2 жыл бұрын

He's not a hater hes telling the truth its actually degrading

@david7890

Жыл бұрын

@@BrianKehm Yeah, maybe you should have looked at that before running your mouth

@david7890

Жыл бұрын

Maybe time to take down the video chuckelhead

a large part of this decline in value is driven by tech. a while back, all the smart kids wanted to go to wallstreet, where things like cfas are valued. however, in recent years, there has been a huge swing to tech. tech is an entirely different behemoth; it's much more cut throat in some ways in the sense that all the prestige of your background education and diplomas literally doesn't matter (specifically in earlier stage companies). nobody cares if you have a mba or a cfa; you go into a job interview an you're immediately hit with 3 case problems and 1 take home case which you either solve it and present solutions people can accept; or you're kicked out the door rather ruthlessly. don't let the facade of hoodies and tshirts fool you. so you can show up to a tech interview with a cfa printe on your cv, and it'll literally be shredded in the trash as nobody cares. you'll be given the same take home assignment with the same time to solve it; and you either deliver or you go home.

@Romio666

2 ай бұрын

I think 🤔 the latest CFA amendments already include some data science, pathon and VBA

Thanks a million for your invaluable content.. it's just precious

Hi, I used to have the same opinion as yours. But I believe as far as CFA Institute controls the pass rates for all 3 levels, the number of qualified CFA would increase at a reasonable rate. And the institutete limits the exam attempts up to 6, obviously the management of institute knows that more and more people would like to take exams. I agree that '4.5 hrs' lower the difficulty of finishing exams but it may not lower the difficulty of passing exam.

@BrianKehm

3 жыл бұрын

Even if the question difficulty doesn’t change, the increased number of attempts and lower test time makes it easier to pass on average

@TheRealBigPlayas

3 жыл бұрын

@@BrianKehm you do realize less questions increase volatility of results? How would less time increase pass rates

@sanketsawant7475

2 жыл бұрын

Your are totally wrong bro. Less questions incrase failing prob. U can see results after your post

@raaaaaaaaaam496

Жыл бұрын

@@BrianKehm except if someone is able to pass them they should be able to pass. The CFA is just greedy licensing anyways. It’s no different than other authoritarian licenses in other industries.

@christophersurnname9967

Жыл бұрын

@@sanketsawant7475 that was how I felt also. I felt that more questions would actually increase my chances of passing as it was more chances to get things right. Fewer questions made me nervous due to increased impact of accidental screw ups etc.

Warren Buffett didn't have an CFA, and he's done ok...

@AkshayMishra700

2 жыл бұрын

what about you?

I attained my a CFA charter holder in 2017 it is is true , the value of CFA is degrading because there are now hundred of thousands CFA around the world.And overall supply is more the demand. Its likely that CFA will soon be very common and would have least value. Also the overall salary offered is now decreasing at an exponential rate.....😭😭

Thank you for speaking out for existing CFA Charterholder! Perfectly agreed

@BrianKehm

2 жыл бұрын

Thanks and other charterholders I’ve spoken with feel the same way.

@david7890

Жыл бұрын

Than why didn't you as a voting member oppose the changes? Because it's easier to run your mouth on the backend and s#$^ on the candidates that earn their charters after you than actually be an active and constructive participant in a professional association?

The only thing that could truly devalue the designation is if there was to be a sustained increase in the pass rate. Everything other than that is fairly minor and at the end of the day if a given change makes it easier or less rigorous then this will show up in a higher pass rate. But if no change in pass rate then all G.

@qudizzle1

Жыл бұрын

not true, if you increase the amount of exams attempts you can take by 50%, increases the amount of passes by 50%, even if the pass rate per attempt is unchanged,

The average salary in Canada for a charter holder is $280,000. While the demand is rising according to research that tracked job postings requiring or holding a preference for CFA.

@BrianKehm

2 жыл бұрын

Yep, the designation is still valuable. All I was pointing out in this video was (small) chips in its value. Thanks for the comment and watching!

@Romio666

2 ай бұрын

Before or after tax ? 😀

thanks for breaking this down very logically

@BrianKehm

7 ай бұрын

Thanks! I thought it was a logical stance and most who’ve passed the exams agree

Great insight thanks brian

@BrianKehm

2 жыл бұрын

Thanks and the designation is still definitely valuable!

Hey Brian ! Do you recommend getting the curriculum books or the third party books or both? I don’t have a problem with the time and reading denser material but I don’t want to fork out 400$ on books that I won’t use/need. Thanks 😊

@BrianKehm

2 жыл бұрын

For the 2nd and 3rd exams, I only used study material from the CFA Institute (books, online practice problems, practice exams, etc.). If you’re good with self studying, you really shouldn’t need to pay for other materials. If anything, some external formula sheets might come in handy.

I personally don't think offering the exam more times in a year really does make it easier to pass a level as the curriculum isn't any different and you still have to put in the neccessary hours in to pass a level. Just because a candidate CAN take it four times in a year doesn't mean they will as in a candidate may wait to for a November exam instead of trying to cram it in for October just because they can. Just my take as a multiple time retaker for level 1 and now level 2.

Thanks for the insight

3:52 If a person fails a exam at any level they cannot register for the next consecutive exam window e.g. If I fail June 2020 CFA level 2 , i cannot register for the December 2020 exam , my next available appointment will be June 2021. Moreover, reducing the time means less question( which do not appear section wise) to attempt and less margin of error, making the exam more harder. There is no change whatsoever in the timing that affects your charter value. Follow MM, he provides great updates too

@abhishekbal399

2 жыл бұрын

To UFC India…. Your MM has to market his courseware as the case is with other prep providers. In all fairness it ONLY pays if the prep provider is able to sensationalise the difficulty level of the CFA even if the pass rates go northward of 90%. Because that is their bread and butter. They would legitimise every possible argument to make case of their business proposition. Do not be fooled. If you believe asking less number of qs. is making it more stringent to pass then I would argue sitting for 6 hours instead of 4.5 is more strenuous and hence more challenging to pass the exam. Plus writing with pen and paper is certainly more challenging than typing on keyboard.

@TheAdarshMehta

Жыл бұрын

I failed in Feb 22, then I registered for Aug 22 and passed the Level 2 exam. And now I have registered for the Level 3 exam in Feb 23. So I am able to register for the next consecutive exam window. :-)

You’re entire argument was destroyed after the level 1 results came out this morning…twice as many exam windows but half the pass rate. Just one example of what are all weak points at best.

@BrianKehm

3 жыл бұрын

My arguments still hold since those changes still chip away at the value of the exams. Although, if that lower pass rate continues, then that should more than offset the little chips in value that I pointed out. Thanks for watching!

@TheNick1569

3 жыл бұрын

The math would suggest you’re incredibly incorrect. But thanks for proving having the Charter doesn’t prove intelligence.

@yawzerdoink-a-sore-as8159

5 ай бұрын

You are an archaic character living in the modern age. Get with the program, nobody wants to be an employee anymore….your video belongs in the 1980s

@TheNick1569

5 ай бұрын

Few are capable of running their own lives let alone a business. Half of you guys can’t put the video game controller down.

Totally agree with you that the exams should be made longer not shorter. To pick the most resilient and military like candidate, they should do a 10 hours exam only for the CFA holders who passed the 6 hours exams.

@BrianKehm

4 ай бұрын

How about a 12 hour exam? No bathroom breaks 😂

my apology in advance but all I heard is "oh I passed all 3 levels of CFA look how special I am and now they are making the exam more accessible?(and easier to to pass? although clearly that's counterfactual) are they trying to take my uniqueness away" :)

@BrianKehm

2 жыл бұрын

Thanks for watching but you might want to watch again (as well as read my responses to other comments).

@sahanasuma

3 ай бұрын

I felt d same...

So I think that’s why they have to raise the MPS, so that the number of CFA candidates who pass the exam is still reasonable. The increase in MPS and lower passing rate apparently have already started, so the passing rate drop from previously around 40-50% to around 20-30%. My speculation is that this is going to be a new normal, more exams but higher barrier and more difficult to pass the already difficult exam. To obtain the CFA designation is clearly getting more competitive.

@BrianKehm

2 жыл бұрын

Yep that drop in pass rates was surprising to see. If the lower pass rate continues, that should more than offset the small chips in value that I pointed out in this video.

@tamarastankovic7081

2 жыл бұрын

​@@BrianKehm exam is definitely harder and the same material is tested in less questions which means you have less room to make mistakes instead of lets say 2 concepts being question in 2 questions now in one so even if you know one but not the other you just lost a whole question which now represents a bigger % of the exam. your observation on endurance is inaccurate also because adrenaline norepinephrine and cortisol are increased when taking the exam helping endurance and would not be an accurate representation of parlayed focus in the workplace. honestly you're coming across as being bitter that the candidate pool is becoming larger and that you think it might dilute your own charter. with mps being around 73% on average and pass rates between 20-30% along with the fact that level 1 is becoming increasingly harder with regression being moved to L1 along with other things to weed out more candidates right at the start. also candidates across all 3 levels who have sat for paper based exam failed and then sat for computer based exam have all said the exam was harder now but apparently its so much easier because there are more times to take it throughout the year. Thats ridiculous. People genuinely have shit going on in their lives and sometimes cant make it, especially with the pandemic going on which is when they introduced more options. people are dying, losing work, getting sick and taking care of loved ones. the fact you think that decreases someones value and knowledge of thr topics tested on the exam seems literally insane to me and is very telling of which personal issues you're opinion is actually rooted in.

Amazing analysis and concerns. I'm about to start studying for level I, any recommendations on where to start?

@BrianKehm

10 ай бұрын

Thanks! The CFA institute provides all the materials that you need online. You can also order printed versions of the books. One thing that helped me pass was doing lots of practice problems online.

I think CBT is a good change. 6-hour exam was too long...

@BrianKehm

3 жыл бұрын

I agree with the transition to CBT. But not lowering the length of the exam. The CFA Institute justified this by comparing to portfolio diversification. So, why not make it only 20-30 questions? Also, as mentioned in the video, there are some secondary considerations for longer exams.

@florence3502

3 жыл бұрын

@@BrianKehm 20-30 questions for that breadth is ridiculous. They're also probably not trying to make radical changes all at once. I think in your head you just immediately jump to the conclusion of 20-30 because of the rule of thumb that 20-30 stocks makes for a diversified portfolio. And you end the description with "Hopefully the CFA designation isn't following in the footsteps of MBA degrees" which is just a downright simplistic view of these advanced degrees. Overall, disagree with most of the points in your video

@TheRealBigPlayas

3 жыл бұрын

@@BrianKehm so why not make the test 1000 questions?

the pass rates have been lower since they changed the amount of attempts a candidate can take the exam. I think that says its been more difficult

@BrianKehm

2 жыл бұрын

Agreed! I put out this video before the lower pass rates came out. If sustained, that should more than offset the small chips in value I brought up in the video.

People join, people leave, people come people go. that shouldn't mean that the value will be gone. Change is painful, yer inevitable. its an evolving institute. CFA's ethics are what us distinguished. I won't agree with you, but I like the facts you have presented.

Why are you crying brother? Make yourself stand out through your portfolio, skills, languages, connections. There's more life than a piece of paper.

@BrianKehm

4 ай бұрын

Far from crying. And of course other skills and track record matter

I reckon he’s only concentrating on its ROE or its hurddle. It’s one demensional approach. It’s meaningful to challenge for the test for a long time, and it can be a great achievement itself. Which means dedication to get the designation will be recognized regardless of pass rate or ROE.

@BrianKehm

5 ай бұрын

I make it clear in the video that still passing the CFA exams is valuable. I pointed out that changes in recent years chip away at the value.

How many candidates in since pandemic?

Very well explained!

@BrianKehm

3 жыл бұрын

Thanks!

Good video. A couple issues I found a bit disingenuous. You're right about there being more chances to do the exam, but it being shorter will nor affect the pass rates, but just the volatility of the results. And even if the average score changed...the Mps would just offset it. You mentioned memory retention. If the exam took say 4 months to study for...that wouldn't change just because exams are more frequent. To give an exaggerated example:... someone isn't going to start studying 2 years before cfa level 1 just because they have the time. Just like no one would start studying 9 months before the exam ( seriously anyway).

@BrianKehm

3 жыл бұрын

Thanks for watching! I was going out on a limb with the memory retention point. But overall, I still think these changes are small chips at the value of the exams, all else equal.

@TheRealBigPlayas

3 жыл бұрын

@@BrianKehm so do you think having 600 questions over a 12 hour period is a good change?

@BrianKehm

3 жыл бұрын

@@TheRealBigPlayas all else equal, that would make it harder to pass…

@abhishekbal399

2 жыл бұрын

RealBigPlayas…. Have you taken the exam? I doubt it.

@TheRealBigPlayas

2 жыл бұрын

@@abhishekbal399 I have...90th%tile + each time. Come again.

Masters degree in financial mathematics or top masters in finance with programming is better. CFA is waste of time for many

@AkshayMishra700

2 жыл бұрын

have you done it?

Sounds like paying full price one day and the next day the item is on sale lol

Congratulations Ma'am, How to find out if someone has cleared the CFA level 3 exam?? Where we can see the list of candidates so that we can find out if someone is bluffing or not??

@BrianKehm

Жыл бұрын

There’s a CFA membership directory but that doesn’t show non-members. I’ve passed the 3 exams but don’t want to pay for the membership. I’m not sure on a public directory for the different levels. I saved the confirmation email that showed the results. You might have to reach out directly to the CFA Institute.

@user-ob8rw9hj8m

Жыл бұрын

@@BrianKehm Thanks brother, Can anyone you know there, mail ID or Whats up number, want to know about one candidate Thanks again, Namaste 🙏 😀 from India(Bharat).

@user-ob8rw9hj8m

Жыл бұрын

@@BrianKehm can you please share contact details,,Thx in advance

@BrianKehm

Жыл бұрын

brian kehm @ outlook . com (no spaces)

@user-ob8rw9hj8m

Жыл бұрын

@@BrianKehm Thx bro

did your company pay you to take the exams? or did you pay out of pocket? or did you get some scholarships? congrats on passing all 3 exams!

@BrianKehm

2 жыл бұрын

Thanks and out of pocket. They’re a bit expensive but relative to a college degree, not bad at all. And I’d say the CFA Designation is still more valuable than most degrees.

You should take a look at the pass rates now; you mentioned it was around 50% during your time, but now it barely scratches half that figure if we consider the last 3 results published for level 1. That's a big highlight for the statistics. Personally, I would prefer taking an exam twice a year with a 50% chance of passing them than take it possibly 4 times a year with a 25% chance of passing. Moreover, there is no way in hell you are getting a chance at trying all 4 chances assuming you kept failing, the most chance would still be twice per year considering how long it takes to get the results out and when the registeration window for each batch starts and ends. That statistically reduces my chances to twice a year at most with a pass rate of 25% or less? Naaaah! Take me back to your time; it was much easier then I would argue.

@BrianKehm

2 жыл бұрын

I’ve already addressed similar comments and questions. Thanks for watching!

Quite the opposite, it is gaining value and momentum

In the finance department in the financial industry , is the CFA better than the CMA ? And which one can make you a CFO ?

@BrianKehm

Жыл бұрын

The CFA is more useful. Although, it depends on what kind of company you want to work at, along with the role.

What are your thoughts on a CFA + JD?

@BrianKehm

2 жыл бұрын

That was one of two paths I considered taking after finishing the CFA exams. Having that financial knowledge paired with a better understanding of legal frameworks can lead to some great opportunities. Although, I took the data analytics and programming route instead. What’s best really depends on your personal and professional goals.

@Jasonasked1233

2 жыл бұрын

Thank you!@@BrianKehm

If u passed all 3 levels show an unboxing of ur charter

@BrianKehm

2 жыл бұрын

😂 an email open on the 3rd exam results? It’s buried somewhere in my inbox and I took some backup screenshots as well.

So I'm surprised you've come to this conclusion as a CFA. You're leaning towards the theoretical with your argument that what you're saying is true given the probabilities of your statement. You're just looking at the supply side of certification. The value is derived from the demand side => The consumers and the business who pay for the certification. The value is derived from the market. I can tell you as a senior that the interest for this certification is practically nonexistent. Maybe because I don't go to a target school, but this certification is very niche based. So yes there will be more analysts but does that necessarily decrease their value?

Very flawed arguments and it all seems to be based on spite rather than substance. So what if a candidate has 2 chances to pass a year rather? So what it’s 10 times? Believing that tests should be limited just to reduce the opportunities to pass is old military bootcamp bs. Grow up. Fewer questions increases the confidence interval. So standards setting will leading to a harder pass mark all else equal. That’s just how standard setting works. The number of CFA candidates is growing every year. Yes so what, the CFA is based on a standard, not a quota system. This is all just “back in my day” bitter spite bs.

@BrianKehm

2 жыл бұрын

Thanks for watching but might want to watch again with a little more objectivity 🙂

It's amazing how some people can speak so much and say nothing at the same time.

@BrianKehm

Жыл бұрын

Thanks for taking your time to watch AND comment

Can i have these books in soft?

@BrianKehm

2 жыл бұрын

You can order the physical books from the CFA Institute or use the online versions. There are also some study book options from other providers.

So should I take up the exams cause I was thinking to

@BrianKehm

2 жыл бұрын

It depends on your personal situation and goals. The CFA designation is still very valuable in certain career paths.

@Alpha-kv3ou

2 жыл бұрын

@@BrianKehm okay thank you👍

CFA needs more cash.

@BrianKehm

3 жыл бұрын

Always follow the 💰 … that reveals a lot!

While I respect that you put out the video, but, I don't see how offering additional testing times weakens the substance material. This is something that DOES benefit humanity as it allows more people to get the designation and therefore help others. I'm sorry, but you seem like a crab in a bucket type, "my test was 'harder' (less available) so you shouldn't get that benefit" it seems like you're worried about more people getting the CFA and pushing up supply.

@BrianKehm

2 жыл бұрын

Thanks but all else equal, increasing the number of attempts slightly increases the chance of passing. As mentioned in the video, what I brought up are small chips in the value. Also, I published this before the passing rates dropped significantly. That more than offsets the chips I brought up.

Not to be over critical but I couldn’t make it through the video with the constant zooming in and out. Unnecessary

@BrianKehm

2 жыл бұрын

Thanks for the suggestion 👍 I have a lot of room to improve on the editing side. I still film and edit everything on my phone. I need to work on the zoom/cut timing. On average, if those are done well it should improve average viewer time. I see it often with more popular videos and channels. There’s some method to the madness 🙃

How many subjects cfa have

@christianbecher5836

2 жыл бұрын

One

nice video!

these sets of books are nothing compared to CAn😏

#cfasuicide is real...

What the hell are you really trying to say?

can u share the cfa l2 and l3 books

@BrianKehm

2 жыл бұрын

There are free book resources for candidates online. The online practice questions are really useful as well. I’m also thinking about doing more formula videos down the road.

@athifzulfikaradrain3421

2 жыл бұрын

@@BrianKehm could you share the link to access the free book resources, please?

@BrianKehm

2 жыл бұрын

@@athifzulfikaradrain3421 once you’ve signed up to take the exams, the CFA provides online study material (I don’t have a link to that anymore). That’s what I used for the last two exams. But here are some of my personal notes that I shared online for level 3… frugalfortunes.com/cfa-level-3-notes-formulas-weights/

@athifzulfikaradrain3421

2 жыл бұрын

@@BrianKehm thank you very much

i wish you got to a point quicker. you even talked about pandemics.

@BrianKehm

Жыл бұрын

I like long winded answers 😂 If you like getting to the point, the CFA exams are probably not for you. Roughly 6,000 pages of study material

Good info. But u don't gotta move ur hands every second bro just kick back and relax, try talking to the camera like ur talking to a group of friends

@BrianKehm

2 жыл бұрын

Thanks for watching and the advice! I know I still have a lot of room to improve.

@pinopa72

2 жыл бұрын

Piss off Jared, he’s a CFA 3. Good shit brian, thanks for the video!

@cs2troll

2 жыл бұрын

@@pinopa72 🤡🤡🤡

you didnt really make any points.

@BrianKehm

9 ай бұрын

Did you watch the entire thing. Also, do you have a basic understand statistics? For some reason, everyone else that’s passed the exams agrees with me (that I’ve talked to).

I broadly disagree with you , but anyway, thanks for the conents

@BrianKehm

5 ай бұрын

Fair enough, but I haven’t heard compelling counter arguments. Why is it that every person that’s passed the CFA exams (that I’ve spoken with), agrees with my points here?

Seeing the current pass rates between 20-30% I would say you’re delusional. You probably passed when the pass rate was 50% and the MPS wasn’t too high. Complaining abour CFA chipping away in value is almost every charter holder is whining for. In short, it’s just plain simple population bias. Charters have held their degree and now want to shut that tap off or atleast severely limit it’s supply so they can still retain their high paying roles without much competition. Well, kudos to charter holders for their achievements but marking every question as must know in evaluation isn’t gonna help either, it will just drive perspective candidates away to some other courses and there’ll be always few like me who’ll stick around CFA. But lack of transparency from CFAI, combined with such videos paints a different story. The CFA candidates aren’t dumb either, they know what exactly is going on. Not being disrespectful to the institution or the charters but I guess they need to explain the ever rising MPS and such low pass percentages so that candidates know what they’re against while sitting for the exam instead of just treating it as an anomaly due to deferrals ( which clearly is bs since November 2021 results have a pass rate of 27% ) CFA has become much more difficult than it was so thank yourself for grabbing the opportunity to clear all your levels at normal passing rates rather than complaining about the depreciation of value. The value will anyhow depreciate if something better comes along and people will jump ship immediately, including the charters. CAs or MBA fin guys never complain about more people getting hands on that degree but CFA charters have a weird population bias.

@BrianKehm

2 жыл бұрын

Similar questions have come up in these comments and I’ve already addressed them. Thanks for watching!

Can you please get to the point? The video starts 5:11, half of this video is just nonsense blabbering

@BrianKehm

6 ай бұрын

For a better understanding of my argument, the other context is useful

Cfa is a professional body. Generates through membership fees. Inelastic demand. Money Machine

You have cfa yet you don't have any job so you are here on youtub making videos. Mr beast had nothing he started counting to 100000 for his first video and now he can buy entire cfa institute

@BrianKehm

10 ай бұрын

I’ve almost taken a year off work… but I’ll be jumping back into the work world soon

Not to discourage, but looks like you're Reading and not looking into the camera or may be something else. In turn, making this video less intractive and just audio tape. Good work with the 📉 📈..

@BrianKehm

3 жыл бұрын

No discouragement at all and I appreciate the feedback 🙂 I write scripts for most of my videos so I’m concise and less likely to miss important info. I’m slowly making improvements on the video quality side. Thanks again for the comments 👍