Need advice regarding level 3

[Sarthak_1993]

Hi guys, so here’s the situation
I’m in my last year of undergrad and have registered for the level 3 exam in june 2015. Due to my other courses, the only time I’ll have to study for cfa is a week or so in the winter break and then 1 month in may after I graduate. I passed level 1 and 2 in december and june this year during my internship year and then decided to register for level 3 just as a gamble. I used the CFA Institute books for both the exams , but there’s no way I’ll have time to even cover even 50% of the material in the books this time around , so that’s not an option. So what’s the best advice you can give me regarding what notes or other material to buy , or any other advice in general so that I can get my best shot at this?
Thanks and Regards,
Sarthak

 

[Riptrix]

Schweser. Also, you know that unless you have like 4 years of work experience, you can’t get the charter, so maybe not worth it? Level III is a beast. It’s not just plugging and chugging, you need to know it inside and out and I’m afraid a month and a week won’t be enough time to practice the morning section.

 

[Wendy]

Sarthak_1993 wrote:… the only time I’ll have to study for cfa is a week or so in the winter break and then 1 month in may after I graduate.

It’s entirely possible to do 250+ hours of studying between May 1st and June 7th. (I’ve done it.)

 

[dwheats]

Riptrix wrote:
Schweser. Also, you know that unless you have like 4 years of work experience, you can’t get the charter, so maybe not worth it? Level III is a beast. It’s not just plugging and chugging, you need to know it inside and out and I’m afraid a month and a week won’t be enough time to practice the morning section.

Its not alla bout getting the charter.
And I think OP has already signed up so unless you need to travel to the exam center and stay at a hotel, may as well give it a shot.

 

[tozerrt]

What’s the rush? Even if you’re lucky enough to pass with minimal study time, you will still have to wait (years?) in order to gain enough experience to sign CFA after your name… Enjoy your last year in college.

 

[mygos]

Sarthak_1993 wrote:
……the only time I’ll have to study for cfa is a week or so in the winter break and then 1 month in may after I graduate. I passed level 1 and 2 in december and june this year during my internship year and then decided to register for level 3 just as a gamble. …

You have enough time, if you can plan well and utilise every bit of it accordingly. Study and prepare from Schewser and while doing a chapter/ topic do not forget to do the EOC’s from the CFAI books. Once you have completed the first reading start on Practice Papers and Mocks of past years all through reverting to the notes to remove / remedy your gaps in learning and mistakes and shortcomings (in interpreting the question/ answering according to CFAI guidelines / time issues). Once you have done 5/6 of these and confident enough to know what and how to write for AM paper do the past year AM papers (as many as you can , but last 3 years is must). Finally, during the last week revise and do this year’s mocks and there is no reason why you will not be able to clear it confidently. If you could do both the levels in continuation you have the competency and ability to do the third level too, only determination is required on your part.
You have registered already and CFAI nether refunds nor allows the fees to be adjusted for later so why hesitate now? My advice would be not to stop now, the gap or break in study after level 2 entails almost restarting it all over again after a few years gap – not an easy task compared to doing it together. You have nothing to lose.

 

[Sarthak_1993]

tozerrt wrote:
What’s the rush? Even if you’re lucky enough to pass with minimal study time, you will still have to wait (years?) in order to gain enough experience to sign CFA after your name… Enjoy your last year in college.

Thanks Tozerrt. Yes , I live in the dorms and have a great time. In fact , I’m so afraid of leaving university and going out into the real world that I’ve applied for a 16 month masters ,just so that I can stay on campus . I’m not really in a rush to pass it. It’s just that I saw an opportunity and decided to avail it , just as a gamble. Never know when god might throw you a bone. Thought it was a better investment than spending $800 on a phone that bends.

 

[Sarthak_1993]

mygos wrote:

Sarthak_1993 wrote:
……the only time I’ll have to study for cfa is a week or so in the winter break and then 1 month in may after I graduate. I passed level 1 and 2 in december and june this year during my internship year and then decided to register for level 3 just as a gamble. …

You have enough time, if you can plan well and utilise every bit of it accordingly. Study and prepare from Schewser and while doing a chapter/ topic do not forget to do the EOC’s from the CFAI books. Once you have completed the first reading start on Practice Papers and Mocks of past years all through reverting to the notes to remove / remedy your gaps in learning and mistakes and shortcomings (in interpreting the question/ answering according to CFAI guidelines / time issues). Once you have done 5/6 of these and confident enough to know what and how to write for AM paper do the past year AM papers (as many as you can , but last 3 years is must). Finally, during the last week revise and do this year’s mocks and there is no reason why you will not be able to clear it confidently. If you could do both the levels in continuation you have the competency and ability to do the third level too, only determination is required on your part.
You have registered already and CFAI nether refunds nor allows the fees to be adjusted for later so why hesitate now? My advice would be not to stop now, the gap or break in study after level 2 entails almost restarting it all over again after a few years gap – not an easy task compared to doing it together. You have nothing to lose.

Thanks Mygos, I’ll keep your advice in mind. Many people are recommending Sweser notes , so I guess that’s the way to go

 

[itera]

Sarthak_1993 wrote:

tozerrt wrote:
What’s the rush? Even if you’re lucky enough to pass with minimal study time, you will still have to wait (years?) in order to gain enough experience to sign CFA after your name… Enjoy your last year in college.

Thanks Tozerrt. Yes , I live in the dorms and have a great time. In fact , I’m so afraid of leaving university and going out into the real world that I’ve applied for a 16 month masters ,just so that I can stay on campus . I’m not really in a rush to pass it. It’s just that I saw an opportunity and decided to avail it , just as a gamble. Never know when god might throw you a bone. Thought it was a better investment than spending $800 on a phone that bends.

yes use Schweser. based on your comments, you could enjoy a career in academics. I didn’t know a single ambitious friend that intentionally wanted to stay in school for longer then necessary