Study Strategy - CFA L1 June 13

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Jack Robert

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This is my study strategy in order to pass the CFA Level 1 exam.
——– (TOPIC WISE) ——–
  1. Learn the Study Notes from Kaplan Schweser (Listen to Video Instruction CD’s)
  2. Revise the Study Notes in 30 minutes
  3. Do the End of Chapter Questions
  4. Solve the Schweser Pro Question Bank (60 Questions per Topic)
Following are the topics; I intend to do (one after the other)
  1. Ethical & Professional Standards (15mks)
  2. Quantitative Methods (12mks)
  3. Financial Reporting and Analysis (20mks)
  4. Corporate Finance (8mks)
  5. Portfolio Management (5mks)
  6. Equity (10mks)
  7. Fixed Income (12mks)
  8. Economics (10mks)
  9. Derivatives (5mks)
  10. Alternative Investments (3mks)
*(Once I finish studying through topics 1 – 3, I will revise the study notes of the same; then move on to topics 4 – 10)
———(FULL MATTER)———
Once I finish studying all 10 topics, I intend to –
  1. Revise the Study Notes of all 10 topics at once
  2. Solve The Schweser Practise Exams (Volume 1 and 2)
  3. Solve the Schweser Pro Question Bank (120 Questions of all 10 Topics)
  4. Solve the Elan Question Bank (120 Questions of all 10 Topics)
Dear all, please give me your feedback as to whether this is the right approach to studying.
Thanks
 
Sounds like a very good, if not slightly excessive, strategy, but it’s better to be overprepared than underprepared. Maybe you could take a look at the free CFAI mock exams too.
I found for the most part that the Schweser videos were not helpful save for the ones done by Dr. Andrew Holmes. I highly recommend the Schweser ethics videos in particular.
One more thing. I hate to buzz market like this, but I actually ended up stumbling upon Arif Irfanullah’s level 1 videos (http://www.youtube.com/user/arifirfanullah) and found them quite helpful! He has free ones posted on his youtube page that I used extensively. If I had issues with a topic/concept I would go through his video and usually found clarity. Not sure what his paid material is like, but I imagine it’s a bit more thorough.
 
Well, that should definitely be enough, the strategy seems fine … but, the main question is will you stick to the plan and to the schedule? In other words, will you make it and will you complete it all?
Hope so. Time management and discipline is the main problem in the preparation. How do you plan on doing that, studying regularly and being disciplined?
 
Thank you all for your feedback. I am further encouraged to pursue my goal.
As for the completion of the portion, one would definitely have to be focused, and utilize ones time most efficiently.
Jack Robert
 
Dont watch Schwser videos, there is nothing in them.
Arif irfanullah videos are much better. you can find them on youtube for free
 
I’ve read these comments and a lot of people say this schedule is good ONLY if you stick to it. So I would suggest making a “soft” calendar of when you are going to finish each topic. For example, Feb 1 - Mar 15 for topics 1-3 and Mar 16 - Apr 31 for topics 4 - 10 or something like that. What I mean by soft is that you’ll probably not follow this calendar exactly. You might be too busy with work on day or you might have more trouble with a certain topic. It will set you back and you have to realize this. Just do the best you can.
In regards to Irfanullah’s cfa videos, I second this. You can find a lot of FREE videos on youtube. I can’t stand Schweser videos, especially Doug Von Eaton.
 
My advice is not to spend $40 on an app that you don’t need. That app being TimePrep. Quit spamming the forums Ivan S.
 
Small advice from my side
Points to remember for CFA L1
  1. Start as early as possible. Don’t be a procrastinator
  2. If possible do all subjects from CFAI books. If not possible do atleast Fixed income, Economics,Ethics and FRA
  3. Make sure to solve each and every example and EOQ of CFA book
  4. Make sure to do all Scswer Q bank questions and target around 80% accuracy
  5. Do as many Mock exams as possible
  6. If possible do Elan q bank also as I found it very good to test concepts.
  7. Don’t leave any topic as it can very well come in exam
  8. Don’t waste too much time in readings like deferred taxes, Hypothesis etc as return on time invested is very less
Bottomline is be sincere and do a s many questions as possible. The more you practice the better you become. Also ensure to complete syllabus atleast 1 month before exam. Last month should be for mock exams only and fine tuning weaker sections.
BEST OF LUCK .
 
You are following a good strategy because simontaneously practising question will make you confident and it check your concepts.
 
Like some others have mentioned. do the questions early! Do not leave it to the end, becacuse until you look at questions and really engage in the material, you never really know how much you’ve learned.
 
Yes you need to start practising questions asap. At this time you have only 2 months left with you. Don’t think to practice at the end of november.
 
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