Recommended Prep Time for L1

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JayKas

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Hey all,
I am new to this forum and to the CFA..i have been doing some research with respect to the charter in general..my current work profile is directly related to PE/VC research..more like an information provider. Yet it has opened my eyes to the opportunities available out there.
As it is, CFA seems like a great add on to my resume and has an exciting knowledge base to attain.
Im also taking up the GMAT as soon as possible..right now i have taken a good 4 months off from work to focus on these tests.
To all you CFA veterans and aspirants, this is my question:
Is 3 months of prep time before the June 2012 exam sufficient to clear the test? (Provided i totally avoid all social outings and distractions)
My vision is to complete level 2 by June 2013.
Do share your thoughts and practical views.
 
“When should one finish the reading before the exam?
1. Those who have started the preparation 6 to 7 months before the exam must finish their preparation at least 2 months before the exam. It is worthwhile noting that these are group members who do not have any financial background.
2. People who have started the preparation around 5 and 1/2 months and 6 months before the exam they should complete their preparation around 1 and a half month before the exam.
3. People who have started preparation 5 months or 5 1/2 months before the exam should finish by latest 1 month or 3 weeks.
4. People who have started preparation around 4 months before the exam and having adequate knowledge or repeating for Level I should finish by latest 3 weeks of 2 weeks before the exam”
I made this post a few days back on my blog. Its my opinion. I think it could help you out in deciding.
 
Hi Mohammad
Thanks a lot for the response..based on what you have said, im reconsidering postponing L1 to Dec..
Also, when you talk about reading, are u referring to completion of the CFA Curriculum + Notes fully? The size of the text seems very intimidating.
 
mohammad.belaal wrote:”When should one finish the reading before the exam?
1. Those who have started the preparation 6 to 7 months before the exam must finish their preparation at least 2 months before the exam. It is worthwhile noting that these are group members who do not have any financial background.
2. People who have started the preparation around 5 and 1/2 months and 6 months before the exam they should complete their preparation around 1 and a half month before the exam.
3. People who have started preparation 5 months or 5 1/2 months before the exam should finish by latest 1 month or 3 weeks.
4. People who have started preparation around 4 months before the exam and having adequate knowledge or repeating for Level I should finish by latest 3 weeks of 2 weeks before the exam”
I made this post a few days back on my blog. Its my opinion. I think it could help you out in deciding.
This is generalizing way too much. You can’t lump everyone into this framework and say this is how it is. People have differnet backgrounds, different study techniques, different learning speeds, comprehension.. etc
3 months is aggressive, but for someone with background in finance, it’s very much accomplishable
 
Agree with iteracom. Everyone is different.
IMHO: With FOUR months off work (How did you manage that??) it’s quite doable.
 
hey thanks ! what would you recommend as the ideal study plan? Schweser Notes first and then CFA Curriculum problems or read through entire CFA Curriculum? Im sure this has been asked a million times, still id like to know the best course of action..one that would both help expand my knowledge and make me clear the test in the optimal time frame.
 
The vast majority of candidates that have completed the levels (unlike mohammed, who only passed L1) will tell you that the consensus is that Schweser Notes and practice questions is well sufficient for L1.
For L2, it gets more debatable, and L3 even more so. But L1, go through the curriculum, and make sure to do 3-4 practice exams to do at the end and you should be in good shape. L1 is a joke in comparison to 2 and 3, so don’t slack off, but you can be confident Schweser is definitely good enough.
 
iteracom, thank you!! Schweser Notes + Practice Questions it is :)
 
@Jay Kass. No. This proposal is only for Schweser. Only Ethics 1st two readings do them from curriculum. GIPS are covered well in Schweser. I think people will endorse that for LI Schweser is excellent but for LII I haven’t found it helpful.. unfortunately.
 
@Itera com
With finishing preparations I meant completing first reading of desired material a part from CFAI Curriculum. with maximum understanding. The rest of the time is allocated to revising. I believe revising the syllabus significantly increase the chances of passing the exam.
 
mohammad.belaal wrote:@Itera com
With finishing preparations I meant completing first reading of desired material a part from CFAI Curriculum. with maximum understanding. The rest of the time is allocated to revising. I believe revising the syllabus significantly increase the chances of passing the exam.
How does someone revise the syllabus?
 
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