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Hey, I can share my viewpoints and my study structure. Well to starters, studying CFA Level 1 wouldnt be an easy cake walk for anyone. I have seen people with CA degrees didnt clear the lvl1 exam, which got me frightened. So what I could possibly do is study as much I could and finish the portion before atleast 45 days of exam. Then I took scheweser’s mocks/CFA mocks. In all i solved some 5-6 papers with scores around 65-78. I then worked on the sectoral subs where i scored less than 60, mostly economics, quants. So, then just kept drilling those subjects till last 20 days before the exam. Try keeping your cool though I know its difficult for one to as its highly time consuming and energy sucking to sit at one place and keep reading, eventually you would get something else in the exam based on the reading from the book.Rising Phoenix wrote:
Many of you must have passed CFA level 1 exam or at least have prepared well for it.Can you please tell the order in which the syllabus should be approached? I mean there must be some topics which cover the basics on which other topics must be based.So,please tell the order so that we have a proper defined plan.
Thanks for your reply.I have heard many people saying that don’t take Ethics part lightly and do it at the very start for the 1st time and then do it again in the end.What is your view on that…?I-will-pass wrote:
As you can imagine, this very same question has been asked many many many times over. And a lot of very intelligent people have answered. You can find them still - this is one of the advantages of the modern times - just use the search function on the top right!
For my part, I believe I benefitted a lot from a thorough Quant and FRA preparation early on - as those topics are recurring in other sections of the syllabus.
Thank you for such a detailed reply.I have one more query.I have Schweser books,Question bank and Videos.Can I rely only on these to complete my CFA level 1 studies or some other source would be required?chaingangritesh wrote:
Hey, I can share my viewpoints and my study structure. Well to starters, studying CFA Level 1 wouldnt be an easy cake walk for anyone. I have seen people with CA degrees didnt clear the lvl1 exam, which got me frightened. So what I could possibly do is study as much I could and finish the portion before atleast 45 days of exam. Then I took scheweser’s mocks/CFA mocks. In all i solved some 5-6 papers with scores around 65-78. I then worked on the sectoral subs where i scored less than 60, mostly economics, quants. So, then just kept drilling those subjects till last 20 days before the exam. Try keeping your cool though I know its difficult for one to as its highly time consuming and energy sucking to sit at one place and keep reading, eventually you would get something else in the exam based on the reading from the book.Rising Phoenix wrote:
Many of you must have passed CFA level 1 exam or at least have prepared well for it.Can you please tell the order in which the syllabus should be approached? I mean there must be some topics which cover the basics on which other topics must be based.So,please tell the order so that we have a proper defined plan.
Following was my strategy of sectors of study on the basis of my requirements.
1 - Quants
2 - Economics
3 - FRA
4 - Alternative Inv
5 - Fixed Income
6 - Equity
7 - Corp finance
8 - Derivatives
9 - Portfolio management
10 - Ethics.
Always do ethics in last as full fledged reading, though I expect you to read the basic concepts on the same everyday for 30 mins and then get back to reading your particular subject alloted.
Hope this helps.
Thanks a lot Marshall86…you cleared all my doubts…!Marshall86 wrote:
I believe you should have no problem with Schweser materials. QBank is important, maybe vital for level 1 because it prepares you the best for the exam.
Try to do all the EOCs, and at the end of every volume do a batch of practice problems (QBank) for that volume. In the end, grind through all QBank. With cca 1000 practice problems solved, and all the curriculum read throughout your preparation, you shouldn’t have a problem with the exam.
Regarding Ethics, I agree it’s best to do it at the end. You can check the blog why: http://www.timeprep.me/cfa-exam-level-1-ethics-strategy/
Considering Schweser Videos, it all depends on what type of person are you. I’m not a video fan, and cannot study by watching them so they are of no use to me.
The crucial advice regarding L1 exam - create a routine and stick to it! Discipline and time management are the keys to success.
WOW! Thnx about this, I will definitely apply this and hopefully pass … I really do hope so … Thank you once again!chaingangritesh wrote:
Hey, I can share my viewpoints and my study structure. Well to starters, studying CFA Level 1 wouldnt be an easy cake walk for anyone. I have seen people with CA degrees didnt clear the lvl1 exam, which got me frightened. So what I could possibly do is study as much I could and finish the portion before atleast 45 days of exam. Then I took scheweser’s mocks/CFA mocks. In all i solved some 5-6 papers with scores around 65-78. I then worked on the sectoral subs where i scored less than 60, mostly economics, quants. So, then just kept drilling those subjects till last 20 days before the exam. Try keeping your cool though I know its difficult for one to as its highly time consuming and energy sucking to sit at one place and keep reading, eventually you would get something else in the exam based on the reading from the book.Rising Phoenix wrote:
Many of you must have passed CFA level 1 exam or at least have prepared well for it.Can you please tell the order in which the syllabus should be approached? I mean there must be some topics which cover the basics on which other topics must be based.So,please tell the order so that we have a proper defined plan.
Following was my strategy of sectors of study on the basis of my requirements.
1 - Quants
2 - Economics
3 - FRA
4 - Alternative Inv
5 - Fixed Income
6 - Equity
7 - Corp finance
8 - Derivatives
9 - Portfolio management
10 - Ethics.
Always do ethics in last as full fledged reading, though I expect you to read the basic concepts on the same everyday for 30 mins and then get back to reading your particular subject alloted.
Hope this helps.
Not to put too fine a point on it, but Chad (who runs AnalystForum) was telling me that sponsors aren’t supposed to be putting links to their websites in their posts.PassedTense wrote:Spend the last month taking practice tests and reviewing. You’ll forget information while studying, which is fine. The review time solidifies it all and gives you a chance to shore up weaknesses.
Ethics at the end isn’t a bad way to go. For the ethics, keep in mind that 16-17 of the 18 questions will be very similar to the examples in reading 2.
You should strongly consider kickstarting your study with a placement test. Not only will you gain perspective on what the exam is like, you can identify the places you should spend more or less time studying.
We dive into this on our blog as well.