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benfara

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Hi, I was just wondering if there is anyone currently in Australia, more specifically Perth, studying for their level 1 CFA exam in December 2014?
I am currently looking at study programs for the CFA exam and from what I have gathered Kaplan Schweser seems like a very good program to be associated with. Can I please have someone’s opinion on whether the PremiumPlus package (highest) or the Premium Study package is just as sufficient? There is a lot of information and things to consider especially taking into consideration the ‘distance by distance’ problem living within Perth. All responses will be appreciated.
Thanks!
Ben
 
For L1, I’d go for the package that includes the books, practice exams, and QBank. I think it’s called the “Essential Study Package”. Each is vitally important for L1, but you shouldn’t need more than this for L1. Videos are overkill for L1 in my opinion.
For L2, I’d add the videos but go for Elan videos instead of Schweser videos. Elan videos do a great job of explaining some of the tricker concepts at L2 (i.e.. Pensions).
If you do get stuck and feel the videos would be beneficial, you can always buy them as an add-on later. They won’t charge you more than just the difference in package prices. This is what I did this year for L3.
Good luck.
 
I would agree with books, practice exams and QBank for L1. I know a lot of people find the videos to be great, but I tried them for L3 and they put me to sleep, literally. If you have a decent finance/economics/accounting background, you shouldn’t need to crack the actual CFAI materials except for end of chapter questions, ethics, and maybe for some additional material in areas where you are scoring poorly on practice exams. QBank is also excellent for helping you in areas where you’re having trouble because it lets you create an entire exam covering just the areas you want to focus on.
 
^I agree with Higgmond, but I used Schweser videos for all three levels, and I thought they were a big help.
And like Higgs said, I never cracked CFAI textbooks except to do EoC (end-of-chapter) questions.
 
Not reading the CFAI material is like trying to understand the Bible without knowing Hebrew and Greek. Quite a bit is lost in translation. I can remember questions that were based on a single obscure sentence in the CFAI material. I’m guessing that is done on purpose. The test are derived solely from the current year’s curriculum and the institute seems to want the candidates to read their curriculum. Just a vote for the CFAI texts, but whatever works for you.
Are the Kaplan packages similar to Scientology, the more you pay the more enlightened you become?
 
For L1, Schweser is enough. For L2, you can do it (I did), but it’s taking a risk. For L3, read the curriculum at least once and do the practice questions.
 
WRT Ghibli - I think there’s a big difference between really trying to immerse yourself in a knowledge of finance and trying to pass the test. If you’re trying to do the former, then use CFAI. If you’re just trying to pass the test, then use Schweser.
Yes, sometimes there are questions that aren’t covered in Schweser. In fact, there was at least one question in every exam. But those questions are so few and far between, I wouldn’t worry about it.
If Schweser materials weren’t enough to get the job done, they wouldn’t still be in business. They continue to be the leader in CFA study providers because their stuff works.
(note - I don’t work for Schweser, but I used them and I think they were a big help. I never used any other providers, so I don’t know if they are as good.)
 
I know it’s a self selective group and a massive generalization, but it seems people that don’t read the cfai material fail at a higher rate. My sample size is tiny and this post should not be considered when deciding what materials to use. I’m just very biased. I loved that stack of eighteen books. Took me forever to move them out of my living room. I immediately realized that keeping them in sight was a tool move, but it took me a little while to move on.
Love is…..
http://imgur.com/iTLaZnd
 
Ghibli wrote:
Not reading the CFAI material is like trying to understand the Bible without knowing Hebrew and Greek. Quite a bit is lost in translation. I can remember questions that were based on a single obscure sentence in the CFAI material. I’m guessing that is done on purpose. The test are derived solely from the current year’s curriculum and the institute seems to want the candidates to read their curriculum. Just a vote for the CFAI texts, but whatever works for you.
Are the Kaplan packages similar to Scientology, the more you pay the more enlightened you become?
Click to expand...
I disagree. tons have passed the exams with 3rd party notes and CFAi text has a lot of fluff that’s unnecessary. it might be interesting, but not necessary.
now if you believe CFAI will purposely review 3rd party material and test on areas not as well covered. then you may need a larger tin foil hat
 
Ghibli wrote:
Not reading the CFAI material is like trying to understand the Bible without knowing Hebrew and Greek. Quite a bit is lost in translation. I can remember questions that were based on a single obscure sentence in the CFAI material. I’m guessing that is done on purpose. The test are derived solely from the current year’s curriculum and the institute seems to want the candidates to read their curriculum. Just a vote for the CFAI texts, but whatever works for you.
Are the Kaplan packages similar to Scientology, the more you pay the more enlightened you become?
Click to expand...
I dont even bother with the CFAI book. I actually tried cracking the schwesser book at the start then realize this is not efficient, I typically never get past ~30 pages of the first book. Videos shorten it but do put you to sleep. If i sleep through it, i sleep through it (i hate anything related to gips or fixed income), the practice questions is really the main way to pass though. Mock tests in the cfa website is most important.
 
itera wrote:
Ghibli wrote:
Not reading the CFAI material is like trying to understand the Bible without knowing Hebrew and Greek. Quite a bit is lost in translation. I can remember questions that were based on a single obscure sentence in the CFAI material. I’m guessing that is done on purpose. The test are derived solely from the current year’s curriculum and the institute seems to want the candidates to read their curriculum. Just a vote for the CFAI texts, but whatever works for you.
Are the Kaplan packages similar to Scientology, the more you pay the more enlightened you become?
Click to expand...
I disagree. tons have passed the exams with 3rd party notes and CFAi text has a lot of fluff that’s unnecessary. it might be interesting, but not necessary.
now if you believe CFAI will purposely review 3rd party material and test on areas not as well covered. then you may need a larger tin foil hat
Click to expand...
Yep, 3rd parties have an inside track on what will be tested and only exclude the fluff. Actually made possible with NSA-type surveillance techniques. And i’m sure that those that use shortcuts are more successful than those that do not. I’ve noticed CFAI seems to be advertising more, so this may change.
 
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