How To Study For Cfa Level 1 In 2 Months

The horror of having less time for the CFA level one exam, is understandable. Even if you have two months before the dreaded test, I have some expert news! Yes, it's possible to be articulate if you follow these unproblematic principles that I volition be suggesting. Then let'southward discuss, the CFA level ane study plan in two months.

CFA level one study plan- Framework

At this phase, nosotros must empathise that we take very less time to use the traditional method of CFA level 1 test preparation. Not Possible! Hence we have first to ascertain the try which is required and then piece of work our way towards execution from in that location. For this purpose, we must first understand, what is needed.

• 400 Hrs full reading
• 2000 questions practised
• One full-length CFA Mock
• Consistency

Yes! That will be our goal; the reason for 400 Hrs is considering although CFA institute recommends 300 Hrs minimum time to master the content.

Minimum Preparation Hrs Recommended by CFA constitute.

You can in fact cheque the June 2019 CFA exam survey to read this detailed study.

So kickoff things get-go, if I were you, I would need to plan my professional person and personal life for the next eight weeks. Yous need to talk to your superiors at work to get either some unpaid leaves or perchance to get some studying time at the office. All-time case, they give you two months off; highly unlikely, though!

Content To Refer -Study Plan for CFA level 1

On a typical day, I always recommend people refer to the CFA curriculum, only this is not a normal day

Refer Kaplan Schewezer at any cost but nothing below Kaplan considering the quality is not guranteed

Now since you might be thinking that, look! Should I spend that much money on reference material?

Hence discover some second-hand CFA level i book. Or observe some people who can aid yous observe alternatives.

Study Materials Referred by Passed Candidates for CFA level 1

Now, looking at the data above I can clearly prove that students who practise utilise the CFA curriculum take been successful. Now, let me also show to you, the reason backside that with the following data.

Exam feedback of CFA candidates

So, the 2d signal is that 85% of the candidates agree that the exam questions were adequately represented in the CFA program curriculum. Which by the fashion ensures that you are 85% confident of covering everything relevant for the examination.

Practice Strategy

We know now that nosotros need to practice at to the lowest degree 2000 questions, excluding mocks. Practice will be your saviour in this hard situation, and then don't shy away from practising, fifty-fifty if you might get horrible scores initially.

Why am i saying this?

Well, from experience, I can confidently say that.

Many would take spent the hours of preperation but merely 50% of that lot would accept good plenty.

Hence practice is the place where we can beat anyone at this stage.

So How to practice?

The strategy is not to practise from any question bank merely rather from mock papers themselves. There are tons of free practice mocks availble. So every bit you read the content, open the mock papers and solve questions.

The reason why we need at to the lowest degree 2 hrs per day for questions practice is to know the following.

How many minutes per question practice we make it the exam for cfa exam?

The answer is ane.v minutes. Hence do the maths!

Focussing on Difficult Subjects

CFA level 1 difficult subjects

While getting the number of hours, referring to the current content and practising is good, but non without a articulate strategy. Firstly, non all subjects are equally difficult, hence grooming requires yous to keep these points in mind.

Permit me explain this from 2 perspectives

• Firstly difficulty by Book
• Secondly, difficulty in perspective.
• Finally difficult by boredom

Now, Fiscal statement analysis is hard due to the book itself. So, as you first reading FSA, you realise the subject well-nigh takes two months of your preparation time. Next, stock-still income is hard just because most of us have never purchased a bond in our life. Hence fixed income becomes hard because of perspective. Finally, ethics is just dull at the thought of studying it. Also, i can't arraign anyone for not liking ethics. Hence, no one actually prepares ethics from the start, rather keeping it as an adopted son in terms of priority.

So, if yous desire to keep your chances high, make sure y'all divide your time and also consider the difficulty of the subject based on your groundwork.

Revision Strategy

You don't have the luxury of reading through the entire content and revising.

Hence the revision strategy is

• Reading the LOS list and asking yourself- Do i know this?

If you don't know, then you open the textile and read.

• Practising 10 questions on subjects that are completed and analysing the following

Which LOS is weak? Identify it and set it. That's how the revision should take place till the end.

All that we are trying to do in this crash preperation, is exercise the same things we would accept washed in case of a usual preperation.

The difference is that nosotros are doing all of it once.

CFA Level i Report Planner Sheet

My stiff recommendation is to use this written report planner, to calculate your basic planning and so keep tracking it equally you go.

The all-time affair y'all could do at this juncture is to know where you stand against where you should.

Download the study planner

Best of luck and please accomplish us out for whatever assistance and guidance.

My Recommended Written report Plan for CFA level ane

So my potent recommendation is to follow the below schedule for optimum preparation for the CFA level one test

• First, Beginning with FRA and Quants at the same fourth dimension

Now, the primary reason is that these two subjects have the maximum foundation for other subjects like stock-still income and disinterestedness

• Night Fourth dimension Novel: Ideals and Professional Standards

So, make this your bedtime reading textile. Nonetheless, brand sure that it doesn't hateful that yous only flip one folio and doze off.

• After FRA- Start with Stock-still Income & Corporate Finance

Corporate finance should be fairly easy to complete and is piece of cake. Also, if you have completed quants already then corporate finance will be done faster

• Stock-still Income> Equity> Alternative> PM >Economic science

Once you have completed the FRA, Corporate finance, Ethics and Quant, then follow the above gild of content preparation.

Economic science, I have kept it at the end because personally, I find it extremely ho-hum and can hamper my motivation to sustain the preparation. In fact, just for economics, I wouldn't mind switching to Schweizer.

Suggested Readings

Source: https://mentormecareers.com/cfa-level-1-2months-study-plan-how-to/

Share this post