I’m a newbie who is scheduled to take CFA L1 in June. I just wanted to double check with you guys that no formula sheet will be provided during the test day, right?
If so, can you please share you technique to memorize the formulas?
Thanks
You’re correct: no formula sheet.
Memorizing the formulae is easy: write each one 10,000 times.
(Seriously, though: writing the formulae a number of times will help you to memorize them; then work as many problems as you can.)
No formula sheet. They are not that generous.
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Practice them as much as you can.
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Make a list of formulas or use the formula list from the Schweser (at the end of books) and go through them whenver you have free time.
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And finally learn your calculator. It’s a MACHINE (Texas BA 2, don’t know about Hp). It can save you from learning lots of formulas.
Some of my personal favorites are, Co-variance, Correlation, Standard Deviation, Effective to Nominal and vice versa conversion, depreciation calcuations, Amortization tables (mortgages, leases), store and recall functions etc.
Good information, thanks and happy new year
The “secret” to memorization is nothing more than repetition. Put a few formulas on each index card. Then take a card and try writing a few formulas out without looking. Then check. Repeat about 10 times throughout the day when you have a few minutes. You’ll have them down in no time. Then move to a new index card and repeat. Occasionally go back and review previous cards. Voilà! - You will have formulas memorized.
Yeah, there’s a formulae sheet, it’s a few pages long and at the back of your exam. No need to bring one.
when you do 1000 questions, you will memorize the forumlas!!1
pesky formulas but yeah, you either gonna memorize them or not but they’ll more than likely require you to know them in order to pass the exam. note cards work good too. just keep them in your pocket and whenever you have a minute you can flip through them.
In seriousness, try to actually understand the mathematical functions and learn to break it down into words and why they calculate what the formula is solving. It makes a big difference if you can reason and manipulate your way into mathematical equivalency. I have poor memory and elementary mathematical ability and understanding the formula in words really saved my bacon a few times on exam day.
imagine we all lie and say that all formulas needed are provided with the exam booklet… THAT will be interesting…
that would have been epic. we should all plan that for next candidate with this question =)
i made my own
wouldn’t be surprised if he bought it. After all there are still stories of people bringing the wrong calculator to all levels of the exam.
If you study 300 hours and do several mocks, you’ll almost certainly realize you just know the formulas. I didn’t find memorizing the formulas challenging because it just happens.
Yes and go there with all their belongings thinking they can bring them into the room, or bring pen instead of pencils for MC question, or do not check their names on exam ticket…
The list of stupid things goes on…
lol. thanks everyone for the inputs.