I have just enrolled on the L1 exam. Cant wait to get stuck in!
I was hoping you guys wouldnt mind sharing some pearls of wisdom… I have previously completed both the CAIA and IMC reasonably comfortably. I know, of course, the CFA is a different beast altogether but my general strategy for all exams is the following:
*Go straight to the chapter questions that are usually at the end of each chapter (summary q’s?) and do my study by answering those questions by referring back to the chapter and taking notes specifically to understand that question. Im presuming the standard CFA materials do have these types of chapter summary questions at the end of each section ?
* Complete as many mocks exams/practice exams as possible - does the standard CFA material include any mocks?
I am really trying to avoid paying for extra materials by third party providers like kaplan etc. as i am funding it myself and just want to know if the standard CFA materials will suffice? Mocks and summary qu’s are most important for the way i attack exams so Im hoping these are included?
As i say i have already passed both the IMC and CAIA and have an economics degree so have a reasonable base of knowledge to work from over the next 3months…hope its not cutting it too fine for Dec 7th
If you don’t buy 3rd party materials, you really do need to read the CFA material. End of chapter questions are good, but there is still a lot of info in each reading that won’t show up there, or specific details covered in the reading won’t be tested in the questions…then it’ll show up in the exam and hurt you. Blue box questions within the readings are good practice as well.
CFAI provides a free mock online in the next couple months, and you can take sample mocks online too but those aren’t free.
For Level 1 I bought Schweser’s Qbank and it was a big help. Lots of questions. I did not buy their mock exams, but I did for Level 2 and they were very helpful as well.
Depends on how much time you have at hand. If you have a job but no family, no kids, few friends and no hobbies - go through the CFAI material, do the blue box and end of chapter questions, practice with mocks and with Schwesers qbank. And you are going to be good.
If you have a job and any of the above, I would say try to get your hands on a used Schweser set of books on Ebay. The curriculum didn’t change for the December 7th exam and therefore all of those that recently passed the exam are selling their books online. I have just done that for 150 bones myself and I chipped in the curriculum printed version.
With Schweser there is no such thing. You either get a CD or just online access, and both forms expire after each exam. You must buy new from Schweser. Not sure about other providers though.
I’ve checked the Schweser siote and they’re selling for around $300. I checked on ebay and i can get the pdf versions (on a disc) selling for £18? Tobe fair I havent bought anything from Ebay for about 5 years so perhaps I will be ripped off …
