CFA first timers - How far have you'll reached in curriculum??

shrubaks123

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Hi ,
Where have you all areached in curriculum?? And what are your action plan after finishing first pass?? And ideally how early we all should be done with the curriculum so we can start with solving questions full fledgedly ??
Is there any rough guideline about particular readings that will only be asked in PM session or AM session ??
 
Just started book 3 last night. Spent approxmiately 50 hours on the first two books taking notes and making flash cards.
It’s still January but I plan to be done with my first pass (without taking EOC questions) by mid-feb. Book 1/2 for schweser were approxmiately 500+ pages of actual reading material and the remaining 3 books have about the same “amount” of pages to cover. Should be do-able assuming I stick to my schedule.
After the first pass i’ll be working through CFAI EOC questions until mid-April or so and then Mocks / study until June.
 
I’ve been studying since October (1-2 hours a day before work) and I’ve made my way through Schweser notes. Just my opinion, but there is not nearly the jump in difficulty in material from Level II to Level III that I experienced last year going from Level I to Level II. The actual material isn’t too rough, although I realize the test itself will be structured far differently and this material will become difficult b/c of the exam structure.
I’m currently going through the CFAI text and trying to answer/address all LOS in my own concise words and doing all EOC questions from the book. Then I’ll be doing mocks, which I really hope to start early so I have enough time to adjust to the AM section. The goal is to be overprepared. If I spend an extra 200 hours on this thing that’s OK with me if I’m not doing any of this in 2016.
GIPS is going to be a total bitch to nail down. I really wish this weren’t part of the curriculum b/c I don’t feel I learn a thing from it.
Best of luck to all.
 
I started in mid-December and was done with CFAI Book 1 (Ethics etc) by end of year. January was a month to pick-up pace, and I’m now close to finising Book 2 (Behavioral, Individual & Institutional Investor), which is a long one. My aggressive but realistic plan is to finish my careful pass through the material (description below) by mid-April, leaving 6-7 weeks for review and practice.
My careful pass through the material consists of doing the following for each reading. Read CFAI text, underlying material/testable concepts, and making sure I understand examples (blue boxes, etc); then identify where each LOS is covered in the reading; and then re-read while taking notes in white paper - for each reading, my notes (with tiny handwriting) take 4 to 6 full (I mean, really crammed) 11x8.5 in pages, where I insert symbols and signs to help locate LOS and other high-level stuff that will be useful in my review stage. The plan is that I would not go back very often to the original CFAI text, except for revisiting blue-box examples as needed. Then doing a few exercises before moving on to the next reading.
This routine takes a non-trivial amount of effort and time, but an advantage is that the “note-writing” activity keeps me awake at night, while the first “read-highlight” activity is done during the day (during commute, lunch time,… a free minute is not wasted!). So in practice I start reading the next chapter while still taking notes on the current one, which also helps linking them together as applicable.
It looks like I’ll end up with some 150 dense pages of notes at the end of this stage, and the hope is that 6-7 weeks will be enough to review them while doing practice exams.
 
Almost finished with CFAI book 6 (I know, I started with the last one).
Started CFA book 2.
My technique is to do everything before moving to another chapter, otherwise retention is very bad.
I also intend to take some time to revisit the Blues and EOCs, again, for retention.
 
Tommy83 wrote:
I’ve been studying since October (1-2 hours a day before work) and I’ve made my way through Schweser notes. Just my opinion, but there is not nearly the jump in difficulty in material from Level II to Level III that I experienced last year going from Level I to Level II. The actual material isn’t too rough, although I realize the test itself will be structured far differently and this material will become difficult b/c of the exam structure.
I’m currently going through the CFAI text and trying to answer/address all LOS in my own concise words and doing all EOC questions from the book. Then I’ll be doing mocks, which I really hope to start early so I have enough time to adjust to the AM section. The goal is to be overprepared. If I spend an extra 200 hours on this thing that’s OK with me if I’m not doing any of this in 2016.
GIPS is going to be a total bitch to nail down. I really wish this weren’t part of the curriculum b/c I don’t feel I learn a thing from it.
Best of luck to all.
Agree. IMO it is very unfortunate that it is part of the curriculum. No way in hell that I am remembering all these dates. I’m going to stick to 3 bullet points per LOS.
 
I’m about the same spot as you…but I feel that I’m way behind in my reading. You have about 1400 pages to read in final 4 books, so on average 20 pages per day over the next 75 days. Are you going be able to keep up that pace?
I ask because I’m thinking of switching to Schweser…in the interest of time. I don’t want to run out of time.
Is this your first attempt at L3?
 
Storlab, it sounds like you addressed your question to me, so please ignore if not.
Total number of pages – not counting summaries or problems – is about 1670, while last 4 books amount to about 1050 pages. So I read a bit over 600 pages in 8 weeks (to end of this week), which means almost 78 pages/week, although I have been increasing the pace over the last 4 weeks. And plan to read the remainder in 11 weeks (about 95 pages/week), which means that I need to keep a strong pace. I would be willing to trade max 1 week of final review (going down from 7 to 6) if that means I use that week to avoid rushing through and making sure I don’t give in to a lack of rigour in my note taking. I need to be very disciplined and focused.
Assuming what falls outside of the “number of page” metric (problems,etc.) is spread evenly, this analysis should be accurate.
Yes, this is my first (and hopefully a successful) attempt at L3.
 
Great Comments from all. Needed some advice on GIPS. Is it necessary to recall the standards for instance Standard 3.A.1 vis-avis the matter and content of it?
Personally, I found GIPS pretty interesting ( After FRM Part II, especially BASEL II and III everything looks intersting) and if one leaves out the memorising part which I believe is unvoidable…seems practical worthy
Anyway guys that’s just me. Your take ?
 
ABAL,
My take is that I agree that the concepts underlying GIPS are valid and interesting.
However, to make us learn by heart the different changes in methodology pertaining to the multiple dates where they decided to change the standards is an absurd idea and adds very little marginal value to us candidates as financial analysts.
Come on, in some cases there are like 4 different special cases per disclosure, depending on the reference period.
The best part is, compliance to GIPS is OPTIONAL, WTF.
 
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