When in 2008 I wanted to apply for the CFA test, I didn’t realize what I was registering for. Little did I realize that I will enroll in an exhausting research program next to my work and family for the next three years. Coffee will become a food group, and I spent nearly half of my time researching ethics, financial studies, fund management, fixed income, futures, alternatives and stocks.
The content is really insightful and useful to those in the finance profession. There is an explanation why the CFA is referred to as the gold standard. We will not address the efficacy of the CFA curriculum but I want to reflect on research strategies that will make it easier for you to study and do better during the test. Let’s go!
Second, I think you certainly need a rigorous program. First time CFA books arrive, you will marvel at the text of your phone book before you and wonder if you will ever get through it. It is necessary to have time best six months) in your hands to split your time accordingly. At the end, you want to analyze for at least one month, just make sure that this is part of your estimate. When you finalize the program, it really matters. Put it aside for a few hours a day and don’t slack it.
The next analysis will be. You must learn to recall what you read, so it’s best to take some notes during sessions you can review later. In addition to the notes, I used a research technique for the CFA Exam called “Financial Analyst Study Notes” – of the CFA’s learning goals (LOs) is reformatted and addressed, so training and practicing concurrently is very easy.
You should proceed with CFA level 1 practice exams two weeks before the test. There are a lot of users on the CFA website, but Schweser has nice ones as well. It is really important to observe the test day, since the assessment technique is an important aspect of a passing grade.
Third but not least: On test day, make sure you’re in top physical condition. No over-nights just before and if possible, no stress. It’s better to take a day off before the test, because your memory can rest and shoot rapidly through the examination.
I hope this helps you to explain a bit what you are up against in preparing for the CFA and how to start the process best. All is best for your CFA!