I know, I know, I’m not helping things very much. I complained about the fact that candidates were already considering “worst case scenarios” one month before the exam but the reality is that I’ve been discussing a few myself. I received a few questions from candidates that are scared about telling their boss about a possible failure.
Of course, my first reflex would be to say that it’s pointless right now to think about these types of issues. You simply do not know how things will turn out and if you get to work, you probably will end up passing the exam. So why waste the energy?
However, the reality is that many are not able to put these worst case scenarios behind them. If that is your problem and you think that your studying will become more effective, then please take the time to think about it.
Your Boss Will Understand
It’s critical to keep in mind the quantity of candidates that end up failing the exam. You are not the exception but rather the rule. That makes a big difference. When doing the CFA, some might think that you will pass, but no one assumes that you will. Because of that, actually failing it is not as dramatic as some other exams that you have done and will do. I think it’s critical to do the following when discussing your possible failure with your boss:
Explain What Happened
Do not give excuses, simply tell them what you would do differently next time on the same exam.
Do Say That You Expect To Do It Again
Even if you are unsure or actually think you will not do it, say you will. You might change your mind and it’s always difficult to say this right after hearing tough news. I think you are better saying that you plan to do it again (even if you eventually change your mind) than doing the opposite
Honestly, being tired, sick, distracted, etc…, are all excuses that might be good enough to give to yourself (they shouldn’t) but they’re not for your boss.
Do Not Feel Guilty Or Sorry For Yourself
No matter how you feel, now is not the time to express it. That is what friends and family are for.