June 2008

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NJMaverick

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Would you all recommend using Schweser study notes for 2007 to begin study for the '08 exam? I have them, but since I understand that the exam is changed by up to 30% I am a little nervous about using them. Of course, it seems to me that the fundamentals of financial statement analysis, economics, and several other topics don't change.

Any thoughts? I'll get the CFA Institutes' study materials in January, but I don't want to wait that long to begin studying.
 
It's always easier to study from current notes. The way I see it it's a trade-off between time and money. It isn't all that funny having to sit again in December '08 if that is what you're asking about.
 
In fact FSA and Econ are the two biggest changes for 2008. Just when you were expecting stability... CFA Institute make a few major changes each year and just a few minor tweaks to other subjects. This time around it's FSA/Econ.

Although I've heard different opinions on the various study notes, I always tell my students that you're losing points by using out of date materials. If you're confident at getting 80%, then fine, a few lost points won't make any difference. Otherwise (like most of us), it is a small cost compared to the risk of failing marginally.
 
NJ Maverick,

I agree with the previous posts. If you can afford them, the current year's study notes will stand you in better stead come exam day than prior year notes.

However, if you're not keen to shell out additional funds:
For 2008 (all levels), the CFAI study material/curriculum is included in the registration price ($600 pre-Sept 07). Coupled with the 2007 Schweser books that you already have, you shouldn't be disadvantaged provided you study from both sets of materials AND focus on the 2008 CFAI material/curriculum to cover any omissions in the Schweser 2007 study notes.
 
How do you know which areas have changed? Schweser and CFAI notes for 2008 June exam are not out yet, are they?
 
CFAI Website:

http://cfainstitute.org/cfaprog/resources/studysessions.html
 
Dear friend

I would advise Schweser notes and lots of practice exams via Q Bank right from the beginning. that way, you know which are your weak areas in the beginning itself instead of focusing on the practice questions at the end.

This forum has been very useful with their guidance, (even though I had not logged in initially).

thanks all.
 
How representative is the Schweser Q-bank of the real exam? I heard it was to easy.
 
Not too easy. Maybe a little bit easier than the actual exam, but Schweser Qbank is a fantastic resource for learning the type of questions asked. I did a thousand or so and there's no way I pass without it.
 
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