Is Schweser enough for passing level 1?

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E.Elshami

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Hello,
I would like to congratulate all of you have chosen to sit for the CFA level 1 as it is a very tough and challenging journey. I have a question regarding Schweser notes, I use them as my main source of study, after I finish the reading i solve the questions for the particular reading, then I go to Qbank solve the whole questions of the same reading, after that I solve CFAI EOC’s. But I find it quite disapointing like for example today at reading 34 ( Corporate Finance ) I scored 88% with Schweser end of chapter questions, 80% Schweser Qbank , 60% CFAI. I dont know how could this possibly happen since lots of people I know passed by only using Schweser notes. Can anyone help or advice please??
 
Hello
I passed dec12 level 1 using only schweser notes. but plenty of mocks.
However, if you can and have some money to spend, you can supplement this by adding as many PRACTICE EXAMS as you can get especially in the last month of prep. Schweser questions for Level 1 are more plug-the-number kinda thing, and not too conceptual, whereas CFAI are more conceptual.
You should try buying mock exams from other providers (i bought Elan’s mocks, my friend bought Finquiz mocks on top of schweser 2 volume of practice exams–6 schweser mocks) So we familiarize ourself with different styles of questions.Schweser’s more number-crunching style, while Elan’s questions, in my opinion, were more conceptual. I have no idea how Finquiz are.
I ended up doing eight sets of 6-hour mocks from schweser/elan/CFAI, I didn’t do any CFAI eoc as i was too lazy to start so only started studying in mid september and finished my first pass in early nov. (reading schweser on steroid!) i was running out of time. My friend ended up doing 7 mocks from schweser/finquiz/CFAI. both of us passed. I decided not to buy qbank/practice questions because: 1. expensive (prefer buying mocks from Elan) and, 2. i was REALLY Running out of time.
Assess your weakness and patch the weak areas after each mocks (read your summary, read CFAI summary, understand the formula etc). I passed with quant and portfolio management in mid 51-70 range, and the rest 8 subjects above 70%.
But, if i were have to redo it again, i will read my schweser starting 4 months in advance and practice CFAI eoc, scrapping schweser EOC as they are too easy. after first pass, do first mock, assess your weakness, reread whole again with more focus on your BIG ITEMS weak areas do qbank/practice questions for weak big areas, then do mock again. over and over and over until running out of mocks.
So yes you can pass solely by reading schweser notes. Hope this can calm your worry a bit
 
Thanks a lot. That was very helpful and useful as well, btw for the 8 Mocks did you include the 6 exams that come with Schweser notes in 2 books in this number? or was it something else?
 
I used Schweser almost exclusively (I also included CFAI EOC’s because they’re invaluable), along with their 6 practice tests and the CFAI mock later in the spring. It’s absolutely sufficient at L1.
 
^+1. I concur, Schweser is sufficient for L1. That’s what I used to pass.
Also, do the CFAI sample mock, it will help.
 
Would say this heavily depends on background and dedication, among others. Good luck man!
 
Schweser and schweser qbank and cfai eoc is all you need. cfai stuff is too long and extra stuff
 
I think it all depends on your free time and your plans regarding the CFA program. If it’s your top career priority, I think it’s worth investing time in reading CFAI books, although they can be repetitive. On the other side, Schweser is excellently made and you shouldn’t have a problem with passing the exam if you study the way you should with Schweser (and previous posts provide useful insight). You can check a short summary of differences here:
http://www.timeprep.me/official-cfa-curriculum-vs-prep-providers/
I found out that the most useful thing about studying for L1 with CFAI materials is that my L2 exam was not so hard for me at all. But then again, maybe it would be the same with Schweser. The only thing that’s sure is that a lot of people pass the exam while studying only with Schweser, so if you get down to it you will pass, regardless of the materials you’re using.
Good luck!
 
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