Waiting a year to rewrite an exam sucks.
Waiting a year to rewrite an exam that you killed yourself studying for sucks worse.
Waiting a year to rewrite an exam that you killed yourself studying for and you knew all the material but failed because you made a couple stupid time management mistakes sucks most of all.
You think it would be easy to pick up the books again, but it's not. There is a lot of resentment.
My advice: Don't fail the Level 3 exam because - spoiler alert - the next 12 months will suck.