Level 1 June 2014

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cfakeener

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Started studying, experts say this is the only topic that one should read the actual book, and no suppplementary notes. Also, its an important topic carrying 38 questions.
Please share any thoughts, inputs, ideas. How important are the EOC questions?
 
I am refereeing to Ethics and Code of Standered, I wonder4 why the topic didn’t show at the header.
 
I used KS and scored over 70% on the actual exam, and 100% on one of my practice exams. I also didn’t look at ethics until two months prior… it needs to be fresh.
I actually think you’re starting too early regardless. I started in late Sept and felt that was overkill.
 
I have no Finance background, so I cannot risk it. Should I get Kaplan Schwser question banks or the whole thing? I am enrolled into the U of T’s prepration course. Are you aware of it?
 
As I said in the other thread, I passed the CFA L1 this June and have had a rather good result in the Ethics section you are talking about.
Personally, I studied Ethics at the end of everything. But, dude, chill - you have more than 10 months before the exam, don’t rush, but don’t start too late also. Here are some of the tips I received before studying http://bit.ly/How-to-prepare-Ethics
 
All right, points taken, what do you suggest I start with?
 
I think Schweser does an adequate job in ethics, and honestly, the only way to study ethics is to practice MANY MANY MANY questions and see the pattern.
I don’t think memorizing the code of ethics from CFAI texts will guarentee you a pass because there are always specific story lines and specific wording on the questions that you should be focusing on.
If you recognize those patterns, you will likely pass, if you don’t, even if you understand each definition, you will be tricked.
 
Thanks for the insight, what topic do you think I should start with?
 
The best place to start is accounting. (I think they call it Financial Reporting and Analysis.)
The last thing you study should be accounting.
And between the two, you should study a lot of accounting.
 
Zero finance experience? Not even the CSC? What’s your degree in, and where do you work?
 
It always make me nervous when someone who has no finance experience to do CFA… it’s like jumping into the sea at night not knowing how deep it is.
 
Greenman72 wrote:The best place to start is accounting. (I think they call it Financial Reporting and Analysis.)
The last thing you study should be accounting.
And between the two, you should study a lot of accounting.
Click to expand...
I disagree.
It would be better to focus on accounting.
 
NANA Hachiko wrote:
It always make me nervous when someone who has no finance experience to do CFA… it’s like jumping into the sea at night not knowing how deep it is.
Click to expand...
I don’t have a finance, econ or accounting undergrad, but I do have Canada’s basic securities license (CSC) and four years in the business. I think anyone without that sort of experience/background would really struggle.
 
I have done my CSC. Just passed and looking for “meaningful” work. I do work with a financial consulting firm, but my role is more in the marketing side.
I do know a few of my friend who are from finance background and came in Band 5 and a few like me, came in Band 8. I do have to say a fail is a fail is a fail, but that doesn’t mean one can’t do it. Its certainly a much uphill walk, though.
 
I have taken up Eco, I am find Macro a bit tricky, would give it this month and then would start with FRA, do you think thats okay?
 
qhaydenk wrote:
I don’t have a finance, econ or accounting undergrad, but I do have Canada’s basic securities license (CSC) and four years in the business. I think anyone without that sort of experience/background would really struggle.
Click to expand...
if you are in the business and you are familiar with the financial products, you are a one step ahead of some, but probably not as prepared as others.
The truth is, everyone goes into the program with different expectation, some just to try their luck, some think it’s an entrance ticket, i would just advise anyone to actually enjoy the ride, because it’s a long one!
 
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