HOW I PASSED L1 IN 4 MONTHS WITH NO FINANCE BACKGROUND

K

Kingfisher

New member
Joined
Jul 31, 2014
Messages
0
Reaction score
0
I started my preparation in Dec using CFAI curriculam and till feb mid, I was only able to reach end of Quants. I’m full time working and hence getting 5-8 hours a week was maximum i could do.
I came across scheweser and loved it in Feb and switched to it instantly. Finished first read of all topics by April mid. I also used IFT online 2011 free videos where i felt concepts are weak and it really helped.
Also, I did CFAI EOC and two quick revisions and 3-4 mock tests in last 2 weeks. In last 2 weeks, IFT also published new videos around IFRS/GAAP differences and also on formula revision - they were quick and good too.
It worked and i cleared in first time.
Hope that help you!!!
 
Hello Kingfisher
Congratulation for passing level 1
I gonna have a test next December and no finance background like you, also busy working full time and get no time to study.
Looking your comment and feel I can do it this December. So can you share little bit clearer about time percentage for each part of this test, and with it, how much you got in result?
Thank you
 
I got >70% in 4 topics; >50 70< in 5 topics and <50% in 1 topic.
My biggest worry was FRA and i scored between 50-70 in that.
Exam is not that tough as it sounds. There is not too much calculation involved either. You need to have concepts clear.
> Ethics - I just “read” the official book 2-3 times and made some key notes.
> Quants - Is quick but questions can be tricky
> Derivatives, Corporate finanace, Portfolio management - Are easy. Must understand what each formula is doing and what it means.
> Economics - IS too much material but less weigtage.
IFT free 2011 videos - Are good for Quants, FRA (very good), IFRS-GAAP difference, Derivatives., Equity Investments….I would say all concept based topics are nicely covered. Theory topics - read by yourself.
Schweser is great and it coupled wiht CFAI EOC will do the trick. Don’t forget mock tests.
I used to score ~65-75% in mock exams. Scweser mock aren’t great IMO but good to get concepts glued.
 
I know someone who passed in 1 month of studying. legit
 
@Kingfisher, that looks like a barely pass to me. You expect someone to follow that strategy and expect to pass? Doesn’t sound like a good strategy. Congratulations on passing though. I passed as well.
 
nigelnyc wrote:
@Kingfisher, that looks like a barely pass to me. You expect someone to follow that strategy and expect to pass? Doesn’t sound like a good strategy. Congratulations on passing though. I passed as well.
Click to expand...
Deriving performance from bands being as large as they are is fruitless. Being at the top of bands vs. the bottom gives a massively different grade which unfortunately will never be shared. What’s bad about the strategy of doing the readings and leaving time to practice mocks and end of chapter stuff?
On another note, Kingfisher’s strategy seems to be what everyone I know that wrote did so I’m not sure why it needs its own thread but maybe i’m just thrown off by the obnacity of having it all in capitals. You don’t need a finance background for CFA but it helps.. I’m an Arts major.
 
@Revul…maybe you didn’t read his whole post. To me doesn’t appear to be a sound strategy to pass for most candidates.
 
Hi :
I learnt EE in university and have worked in IT/IC industry for 6 years(sometimes need overtime), my mother language is not English.
I passed June’s CFA level 1 exams with 9A1B, hopefuly my imformation can help you:
1. Invest 2 hours during Monday to Friday and 4 hours in Sat(vocation) and Sunday from Feb to April
>1.1 Finish Ethics handbook, SCH notes of Qt portfolio and Ec in Feb(3 days additional vocation)
>1.2 Finish SCH notes of FRA and Cop F in March
>1,3 Finish SCH notes of Eq, Fixed income in April
2, Invest 4 hours during Monday to Friday and 8~10 hours in Sat and Sunday in May
>2.1 Finish SCH book five, do one mock(66% correct) in the first week of May(1 vacation day)
>2.2 Finish EOC except Qt 4 times(the second and forth time is only for incorrect parts of first and third time), then mock can be 70-75% correct in the end of May and 73-80% in the first week of June(2 vacation day)
 
It actually depends how much time you can spend ….
I put in my strategy given i was only able to devote maximum of 5-8 hours a week for 4 months = 80-120 hours for preparation + adding 30 more hours for last week prep ~ 110-150 hours.
It worked for me.
 
i know people spending 200+ or even 300+ hours so luxury to cover multiple books, videos etc….depends on how much time you have in hand ….
this strategy might work (may not work) for those with limited time in hand but it certainly worked for me….
 
I like IFT. I bought the basic series after I found some of his old videos on DTLs/DFLs - I was struggling on them and his videos broke them down pretty well for me.
I also have to give some credit to S2000 as well
Congratulations on passing.
 
diya.soni518 wrote:
Did Schweser pay you to write this?
Click to expand...
What a question !!! I wish they pay me to write this !! :)
Do you look at entire world with eye of skepticism???????
 
You must log in or register to reply here.
Back
Top