Advice on CFAI texts - Postponing exam

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Keemtaptain

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This is my very first post and am amazed at the high responsiveness in this forum!!! Good luck to all of you!!

I have signed up for the Level 1 exam in December and purchased the 2006 CFAI books a while back. Due to lack of discipline (let me be honest), I feel very unprepared for the upcoming exam. My work schedule, family, kids etc blah blah wont give me enough time to cover all the stuff in the next 65 days. I am therefore leaning towards signing up for the Dec. 2007 exam. This time around I am going to be serious about it ( I cant keep throwing money away like this!!!)

So here is my question and is essentially searching to see if I can save a little bit of money. I have only gone through about 25% of the material in the current CFAI textbooks. Currently I am not using any other supplementary sources. Would you recommend that I purchase the 2007 CFAI texbooks which come out in November? I know the 2007 material maybe a little different, but considering that I have 75% left to go on the 2006 material that I already paid for, I feel like I may be possibly paying another $370 for material I essentially may already have!!!

Maybe its a psychological thing, but I would hate to spend 300 hours studying material that I might be wondering in the back of mind, whether it is outdated or not. Do you think the material will be that different?

I guess my options are as follows: 1. Buy the darn 2007 books 2. Keep what I have and maybe buy the various schweser supplements that I am reading on this forum (not sure what that will cost me)

Hats off to all you brilliant and experienced folks out there who have passed the Level 1. I would love to hear any advice you can give me. Thanks
 
It is likely the material will not change much from Dec 2006 to June 2007. You should just download the study guide for the June exam and compare it to the 2006. I would go with Stalla.

But you are already 25% of the way through the material. There is no reason why you can't complete the remainder of the material in time for the Dec exam. I don't think anyone sits for an exam feeling 100% confident about the material. There is still a shot to pass; you've already paid the money, now sit for the exam.
 
Agree with Pat-Bateman. There is still time! With a bit of discipline I think you have a good chance. I can never understand why people would even consider backing out. The worst that can happen is you fail the exam. If this is the first time you sit for a CFA exam - show up. It's quite an experience!

Sure the material would change. But it would not change by THAT much.
 
If you feel unprepared - don't go ! I had the same feeling and failed miserably:)

I could describe you the exam process- and you don't need to go and experience it yourself- believe me with that kind of preperation your chances of passing are like 0.1% :)

I think if you've alreay bought 2006 curriculum they will send 2007 one almost free...

Well anyway material shouldn't be much different you'll probably won't notice it...


Anyway save your money if you feel totally unprepeared!

Good Luck!

P.S. Why dont you register for June2007 exam! Nice time for exams! not cold:)
Enroll before Sep 27 for only 370USD!
 
I was in the same position. You should of course sit for the Dec 06 exam, prepared or not. At least you'll get exposure. I sat for the exam w/o studying, played with it. Then bought the updated Schweser notes and used the old texts. Worked fine.
 
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