When I was reading ‘Harry Potter and the Deathly Hallows’, the last book of the series, I kept on wondering that so many new plots were opening up, how were they going to fill them in only half a book? To JK Rowling’s credit, she did it spectacularly. I got a similar feeling while studying for level 2, that somehow each concept was so deep, and there was no end to the number of new topics! I started wondering, ‘Damn, why is this not ending?!’ I searched online and there were many similarly frustrated candidates. A cartoon captured the collective wisdom.
In my experience, for a person with non-financial background, Level 1 itself is a steep hill. You are introduced to many new concepts from finance. In a way, this is a litmus test whether you have an inclination in financial analysis. For someone with some experience, it should be comparatively easy.
In level 2, suddenly you are diving deep in many topics. Fixed income, currencies, pensions… all complicated topics are covered with depth, and each leaves a new reader breathless. I still completed the readings somehow, with my confidence not even half of level 1. I gave about six mock exams, scoring a steady 50-55% in each.
The actual exam experience was not bad, and while I was not as confident as the last level, there was a good reason to expect some miracle that would push me on the pass line. Unfortunately, miracles don’t occur on demand. I was touring when I got the result that basically said ‘Later, skater!’, thoroughly ruining the mood for the rest of the trip. Even though the result was not unexpected, nevertheless it was equally painful. More so because I would have to read the same endless syllabus again.
This was my first Fail result ever, and naturally I was in refusal mode. They must have made some mistake, I convinced myself. I applied for a recheck for about Rs. 5000. The application for recheck is such an archaic process, that I suspect it is to discourage people from spending their money. One must fill up a form and send it to the institute via fax! Now I was about a decade too late for a fax machine. I just couldn’t find a shop that could fax the application internationally. Finally, technology came to my aid, and I found some app on the phone that would do the job. I got an answer soon, confirming my result. Grudgingly, I enrolled myself for another attempt which would be a year ahead.
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