This has been a brutal week for those Wall Streeters who are studying for the Chartered Financial Analyst (CFA).
On Saturday, all three levels of the CFA will be administered worldwide.
The CFA curriculum, which consists of three levels, is considered to be the hardest test on Wall Street. To put the exam’s difficulty in perspective, fewer than 20% of candidates pass all three on the first attempt.
The average test-taker also spends a solid five to six months preparing for the CFA.
Of course, every test-taker hopes things go smoothly and according to plan on exam day. But we’ve heard some crazy horror stories ranging from bathroom disasters to concentration-breaking distractions.
We’ve included them here. Make sure this doesn’t happen to you.
Also, if you have a CFA horror story to share, feel free to email [email protected] We’ll keep you anonymous.
There was a regional blackout and the test center went dark. One prepared guy had a flashlight on him and the other test-takers basically wanted to kill him.
From a BI commenter:
When taking L2 in (New Jersey), there was a regional blackout that made the entire convention (testing) center pitch black. Amid the darkness, one very well prepared gentlemen took out a pocket flashlight and continued writing the exam. As you'd expect, this didn't go over well with either the proctors and fellow exam takers (who's exams are graded on a curve). A proctor ran over to take away his flashlight and unwittingly saved his life.
From Analyst Forum:
When I wrote Level I at the Javits Center, two of the proctors stood right in front of my desk (I was front row) and chatted through the afternoon session of the exam.
If X-Acto knives were allowed in the CFA exam, I would have stabbed them both to death.
'The CFA Institute allows you to bring two calculators in case one calculator's battery dies. In the section I was in, one guy forgot his calculator.
He was sweating, his face turned purple and it looked like he was about to cry.
And everyone else in the room was pretending they couldn't hear what was going on, even though they knew exactly how the guy felt. But at the same time, nobody wanted to risk losing another year on their CFA progress. Nobody wanted to give the guy their second calculator because everyone's thinking 'If my calculator dies and I fail, then I have to wait a year to take the test again.'
From Analyst Forum:
My buddy had to change batteries during the exam. He thought he was covered since he brought his screwdriver. He said during the exam he cut his hand pretty bad when his hand slipped. Had to write his first half of his Level I with blood all over his desk.
A test-taker was in the Holland tunnel headed to New Jersey and realised he was supposed to take the test in Long Island.
From a BI commenter named Cameron:
'I took a company car with a fellow employee to New Jersey for level 1. He was taking the test at the Continental Arena. Midway through the Holland tunnel, I realised I was taking mine at the Nassau Coliseum. Cabbie dumped me off in Weehawken. Somehow, I called a cab service, he booked it to Long Island, and got me there just in time before doors closed. Heart attack city. I passed, I don't how, because I was shaking for the first hour of the test.'
One guy was so preoccupied by the CFA that he opened his car door into oncoming traffic and nearly had it ripped off.
From a Business Insider tipster:
'The night before my Level III exam I went out for dinner. I was so preoccupied with the exam, I opened my car door into a car coming up behind me. It nearly ripped the driver side door off. Then it wouldn't close all the way. Instead of dealing with it, I drove it back to the hotel with my arm out the window barely holding the door semi shut. I parked it/wedged it driver side door against a street light in the hotel so no one could get in it and crawled out the other side and locked the car. Obviously it was NOT a good night's sleep before the exam!
A test site in California was located directly across the street from Disneyland and traffic was insane.
One CFA charter-holder told us that a bunch of test-takers in California encountered serious Disneyland traffic.
The Southern California test site used to be located at the Anaheim Convention Center, right across the street from Disneyland.
'The exam start time overlapped with (the) opening day and time of some big event at Disneyland,' one CFA charterholder recalled when he took level I.
'The line to get into the parking lot went down the street and around the corner. People started giving up on the line and parking illegally to avoid being late. The tow truck probably had a field day.'
From Analyst Forum:
I am waiting for the bathroom in this massive line about 10 minutes before the start of the exam. There is this guy panicked out of his mind in line ahead of me who I noticed for the previous half hour had been rocking back and forth in the corner of the lobby murmuring his notes back to himself from memory…a real whack job.
Anyway, As I am standing in line with this guy in front of me he starts to sweat profusely and I can literally hear this guys stomach rumbling…this is where he really freaks out. He starts pounding on the stall doors ( there were only 2) and, of course, no one is coming out so this a-- clown drops his pants, hops up on the sink, and blows s--- all over the sink! The most disgusting thing was the back spray all over this guy! He was COVERED in his own s---. I am laughing my a-- off but this guy didn't miss a beat, he rinses off his pants, throws his shirt in the trash and walks into the test wearing only his windbreaker and wet pants.