Why not?

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CFAfatso

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This seems like a silly question, but can someone help shed some light on why one shouldn’t use one-yr old material from Schweser that would cost a fraction on sites like Ebay/Amazon vs. buying the new material for like ~$1000? Doesn’t look like many readings changed compared to 2013 and the ones that did (like 2-3) one can easily read those from the new CFAI texts, right? Am I missing something? Just wanted to hear thoughts before I make a decision on purchasing prep materials for upcoming L3. Thanks.
PS - Here we go again! Trying to figure out what materials to use, study schedule, actually working f/t and then studying at night….Wohoo lol
 
…why one shouldn’t use one-yr old material from Schweser …
Yes, one should not, but one can/may certainly use one-year old material provided:
+ (s)he has a detailed list of changes in the curriculum in 2014 as compared to 2013. Something like a table with 3 columns, one each for 2013 and 2014 with list of all SSs with topics and in the third remarks, clearly mentioning ‘changed’, ‘added’ and ’deleted’. Obviously added topics will only be in 2014 while deleted ones only in 2013 curriculum (similar pdfs are freely downloadable from some CFA tuition providers like ‘passing score’ , finquiz, etc.!);
+ having done so, one has to prominently mark the ‘deleted’ and ‘changed’ topics in the 2013 curriculum bought at cheaper price before using it to study for 2014;
+ for the new topics of 2014 you may rely totally on the CFAI material ( compulsorily made to buy while registering);
+ For Level 3 it is essential too to do as many past papers (specially am session) keeping in ,ind the deletions along with the old material bought.
There is no reason why it should not suffice to clear the Level 3 with the above homework before you start using the old 2013 material.
 
I just finished writing up Level III Readings 13 and 28 for Stalla.
They won’t be in the 2013 notes. There may be others.
 
S2000magician wrote:
I just finished writing up Level III Readings 13 and 28 for Stalla.
They won’t be in the 2013 notes. There may be others.
Click to expand...
legend.
 
pokhim wrote:
S2000magician wrote:I just finished writing up Level III Readings 13 and 28 for Stalla.
They won’t be in the 2013 notes. There may be others.
Click to expand...
legend.
Click to expand...
Like the little box at the bottom of the map that tells you that you’re on a bumpy road.
 
I think I’ll get a set of used 2013 Schweser Notes to supplement the curriculum. Might buy the new videos though.
 
Let’s say you make $25/hr. Let’s say you study for 300 hours. 25*300 = $7,500 in lost productivity. And that doesn’t include the stress, time away from family, not being able to enjoy Memorial Day, etc.
Just pony up the $1000 to get the Schweser Premium. Then you won’t always have to worry about “is this in the new curriculum? Do I need to study something new?”
 
DON’T BUY THE NEW STUFF.
I passed in 2013 using 2012 Schweser stuff. I knew what changd in the LOS and what chapters were new or gone. Easy peasy japanesey…
Cost me $50 instead of $400.
Passed easily.
 
I always bought the new books - Essential $600 pre-tax. I didn’t want anyone else’s coffee/snot/tear stains on my books. I wanted to create those myself. Oh…plus I wouldn’t have to worry about missing a new reading.
 
I think it’s fine if you’re organized enough to keep track of every LOS you’ve covered and taken notes on .. and then fill in the gaps with CFAI material after finishing Schweser.
 
I just want to have them as trophies in my office. “Yep, those my 2014 level 3 books, that’s the year I passed it!”, not “yeah, I was cheap and bought outdated 2013 books, failed cause I missed some key readings, didn’t pass until 2016 cause they just kept getting more out of date”
But the boss pays for all my shit so actually I don’t care. I just like new stuff.
 
woodywoodford wrote:
I just want to have them as trophies in my office. “Yep, those my 2014 level 3 books, that’s the year I passed it!”, not “yeah, I was cheap and bought outdated 2013 books, failed cause I missed some key readings, didn’t pass until 2016 cause they just kept getting more out of date”
But the boss pays for all my shit so actually I don’t care. I just like new stuff.
Click to expand...
“Yep, those my 2014 level 3 books,”
Nop, they are not yours as those have been paid for by your boss (who is generous enough to pay for all your shit, too!)
“….that’s the year I passed it!”..”
Hold your horses! Not yet… There’s many a slip twixt cup and lip with less than 50% chance of it happening surely. Still hope it holds true for you this time.
“yeah, I was cheap and bought outdated 2013 books..
Right , not cheap, but you are still “cheaper”, rather “cheapest” as you never bought those 2014 L3 books by paying from own pocket (can’t say, “No, the boss paid that money to me and I then paid for it” as he would not have paid that money to you to splurge on ice-cream or whisky (even if it is by reimbursing the voucher).
“….failed cause I missed some key readings,…”
Many will buy the 2014 Schweser still fail and equal, if not more, will pass despite not buying the Schweser’s notes or only buying the CFAI curricuum! Not buying the Schweser’s notes does not mean one will miss some or any “key readings’ as in any case he/she has been made to buy the e-version by CFAI while registering (which can always be used to ensure one does not miss key readings!) and the CFAI curriculum are the “original study readings” rest all are study notes/lectures.
“….didn’t pass until 2016 cause they just kept getting more out of date”
If merely NOT buying the current Schweser’s notes implies appearing more than twice then so many first time passers won’t be there who cleared L3 first time by just following CFAI curriculum and their own notes plus practicing with past papers. It does not cost anything to be gracious and less hurting even with some wrong beliefs!
All CFA candidates are not employed with high salaries or are rich enough to afford around $1000 (even in US!) once he/she has been made to buy the e-version of CFAI material (not by choice, and has to fork out another $ 150 for the print version) particularly when a substantial number of those enrolling (specially from non-US and non-European countries) do NOT get any reimbursement for fees or material or anything for doing CFA. In fact, I know of many (yes, many) candidates from India, and some other Asian countries, who have differed enrolling for the next level of CFA after clearing L1 or/and L2 (some of whom are meritorious and one time passers) due to high cost of enrolment (in $, due to high exchange rates and no reimbursement or payment by the company) and you are being sarcastic for not being able to afford new 2014 Schweser material !
“…. I just like new stuff…”
Correct statement will be “…. I just like new stuff as long as it is paid for by my boss (even if it is my shit)…”
By the way , having Schweser notes in your ‘office’ as trophies, just to boast, does not reflect a very high quality of academic or decorative or even sophisticated taste and may not also be taken as a high level of genuine thrust on acquiring knowledge on your part.
 
I myself have been visiting kaplan web site but still deferring from clicking the buy button especially after i couldnt get the 10% discount even tho i tried to buy by aug. 31. Somethin weird with the web site on aug. 30. My office only reimburse the test but not any additional material as they changed the policy few weeks back (they are now debating whether additional curriculum print book will be reimbursed as it is in separate receipt. Thanks CFAI for splitting the receipts)
i jumped happily buying Elan package for level 2 due to short time of prepping after dec L1, but my company no longer reimburse additional material. So had to fork out 750 bucks. I bought used 2012 dec schweser material thru ebay from friend who sold his used books, so paying 750 was rather painful for me. Thank God i passed (and glad i chose elan rather than > 1000 bucks schweser)
with the rupiah sinking (from less than 10,000/usd to as high as 12,200 buy rate within the past 3 months) as we swing to ca deficit, i may have to switch to kaplan cheaper package, or buy 2013 package from my friend who pased last june or take the bullet and use only CFAI material. I may have to wait till nov to see where the rupiah is heading
Not all of us can easily fork out 1,000 bucks.
 
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