Take the CFA level 1 on June 2012 or not?

[neron112]

Hello everyone!
I’ve decided I’ll try for CFA, I’m just undecided when to take it, so I hope your input will help me with that.
My profile: graduated in 2009, MA Finance, then worked for 8 months as finance assistant in one real estate company, after that it’s been one part time job after another. Currently I’m unemployed, and have all the time I need to study for June exams. I can basically do 6+ hours of studying every day. I need something that will hopefully give me an edge over loads of finance MA’s that are currently on the job market here.
Should I take the June exam or is it better to postpone it untill December? Would hate to wait another 6 months, though.
I think I have a good understanding of the economic principles tested in the exam, but I’m unsure how much emphasis is put on understanding the economic principles compared to knowing every little detail of the curriculum. So maybe someone who passed level 1 can help me with that.
I was thinking of using Schweser Study Notes.
Thanks for your help!

 

[lemiman]

i came from a non-finance background and 95% of material was totally new to me. e.g. did not know what present value meant. studied for 5 months and was well prepared for exam. results in a week, so maybe i’ll eat my words. but if you have a graduate degree in finance, 3 months of focused study should be enough. biggest risk for you is underestimating the exam. if you are jobless, i would spend 10-12 hours till april, then ramp it up in the last month to 6 hours a day. if you are disciplined, you’ll be ready. parallel to that, i would be job searching. nothing beats having a job when you’re looking for one!

 

[Clark_CFA_Candidate]

You will crush the Level 1 exam if you study 6 hours a day for 5 months. Take it in June without question, especially if money is not an issue for you. If you take the exam in June and don’t pass, you don’t lose anything (except the registration fee). It would even be a valuable experience for you if you had to retake the exam.

 

[Alaa]

Take it in june… I’m unemployed too and do nothing but study these days! It’ll be much easier for you since u have a finance background.. Dont register now, wait till feb and see how’s your progress at that time.

 

[neron112]

Thanks for that,needed it! Started studying today, I’ll see how it goes by mid February. GL, lemiman, hope you nail it!