Schweser vs. Elan - best provider post-June 2014 exam?

[beavertail]

After reviewing some of the comments on the recent June 7th CFA level 1 exam (i.e., some candidates felt that reading CFAI books were the only way to go to ensure understanding and passing the exam), I am wondering whether 3rd party provider study guides are truly useful as they used to be. And if they continue to be useful , which provider will prepare you for the level 1 exam, considering the type of questions/structure/language used in last week’s June level 1 exam? I’ve read many great reviews on Elan, but more candidates are/have been using Schweser. (It may be because Schweser is easily obtained for little/no fee - read, not legally obtained - and Elan is a relatively new provider.)
So, for those that have tried both providers and have taken the level 1 exam, which provider truly preps you for the exam? I’ve tried a couple free sample material from Elan as well as Schweser. However, unless I’ve actually sat for the exam, I can’t judge which provider provides the necessary notes and practice Qs/mocks that closely resembles the exam. (And I rather just sit once and passed the damn exam).
Any tips would be useful before I spend another dollar on this great CFA adventure!

 

[kudo2269]

Hi,
I took the exam a week ago.I have a same question with you. Because I had prepared this exam exclusively by reading CFAI curriculum books and mock exames, I wonder other people’s opinions. Although I never take the third party’s book, in my opininion, I think all its materials handle are included in curriculum. There is no special reason for me to use Elan or Schewer if they are “just” summurized curriculum version. Definitely it can be useful and efficient shortcut to pass this exam in the case that you don’t have enough time to go through whole curriculum or you have solid background related to Accouting , Finance. But if not, I recommend starting this long travel with curriculum.
p.s) maybe.. Do 3rd party materials have magical explaination over curriculum?!

 

[AnalystSean]

I read CFA books and Schweser, since I had time, the only benefit I got from Schweser was looking at problems worked out with a financial calculator. There were some q’s not found in schweser on the test, but these q’s were so obsecure that it’s doubtful most people that read the CFA books remembered them. It’s true that schweser practice tests were nothing like the actual test, but neither were the CFA mocks.

 

[Alphajunky]

I’ve actually used both Schweser and Élan. Used Schweser for my first attempt and used Élan on the 2nd attempt
Personally, I felt much more prepared using Élan. I think their practice questions, notes, and especially their mocks were much more in line with the way the institute presents their information and questions. The Élan videos, and particularly Peter Olinto’s videos, blows away anything Schweser offers. I thought the Q bank for Scheeser was absolutely worthless and not a good way to reinforce the readings upon completion of an LOS. Again, just my two cents.
The difference could be the fact that it was my 2nd time going through the material and for full disclosure I did rely much more on the CFAI material the 2nd time around. I went through every end of chapter question at least 2 times and for FRA at least 3 times where I didn’t hit every question the first time through and relied on Schweser. I do think you can utilize the prep providers but certainly cannot rely solely on them. Again just my opinion. I would suggest utilizing as many resources as possible and use what helps you best conceptually understand the material.