Reading some other comments on this board about mock examinations for CFA level 1, I thought I would share my experience with you. Believe me, what you get on these tests is pretty much irrelevant. This is my second time writing level 1. Last year I worked fairly hard, though admittedly I didn't start early enough. I actually had studied a lot of this cr@p before at university, so I had a bit of a headstart on most other candidates.
Anyway, about 3 weeks before the exam, I wrote the JKE exams- got about 85-90%, completing each in 1.5-2 hours. And this was before I had completed the quant. methods section. I skimmed the Schweser exams, only bothering to do the few questions that looked remotely challenging.
Needless to say, the actual exam was A TOTALLY DIFFERENT FECKING BALLGAME. These exams (JKE etc.) are a waste of time: indeed they are counterproductive in that they give a false level of confidence. The Schweser notes etc. aren't great either- they give a superficial overview of all the material, but don't go into enough detail to get you comfortably through the more demanding questions. I think they are fine if you are an MBA/CPA and just need refreshing on stuff you've read before. If you're starting from scratch the original readings are essential. From what I understand there is some online thing that is a bit more difficult, but I haven't tried it.
Anyway, good luck to all- I feel better prepared psychologically this year, having experienced the gut-wrenching feelings when you open the question book and every other question looks like another language.
Anyway, about 3 weeks before the exam, I wrote the JKE exams- got about 85-90%, completing each in 1.5-2 hours. And this was before I had completed the quant. methods section. I skimmed the Schweser exams, only bothering to do the few questions that looked remotely challenging.
Needless to say, the actual exam was A TOTALLY DIFFERENT FECKING BALLGAME. These exams (JKE etc.) are a waste of time: indeed they are counterproductive in that they give a false level of confidence. The Schweser notes etc. aren't great either- they give a superficial overview of all the material, but don't go into enough detail to get you comfortably through the more demanding questions. I think they are fine if you are an MBA/CPA and just need refreshing on stuff you've read before. If you're starting from scratch the original readings are essential. From what I understand there is some online thing that is a bit more difficult, but I haven't tried it.
Anyway, good luck to all- I feel better prepared psychologically this year, having experienced the gut-wrenching feelings when you open the question book and every other question looks like another language.
