Hi, as the title indicates I failed Level 1 with Band 10…
What learning strategy would you recommend? I can’t see that going through the whole material again would make sense (because in my opinion I fully understand the material in general, maybe in some parts not in the smallest detail). Would you recommend just doing questions (like qbank). When should I start re-learning? I thought Mid March would be a good starting point, than I would have 2,5 months with two weeks off work right before the exam.
For December exam I just learned with Schweser, which in my opinion break my neck in the exam for Corp Fin (Schweser mocks ALWAYAS > 80%, Dec Exam <50% - these are the missing points to pass right?!) So I’m considering buying alternative materials, maybe Wiley/Elan.
i also had a band 10 and also only studied the schweser materials. i am going to get the official books ($150) and read up on them starting from corporate reporting since thats my weakest point.
Putting all your eggs in a single prep provider basket is risky… as you found out. The exam is created by CFA Institute. So, you must - at the very least - do the questions in the curriclum:
The practice questions at end of every reading must be done - at least the ones in mcq format.
I also recommend the non-mcq questions because they help build your concepts.
Go over the examples in the curriculum.
In the final month or two you should do the pratice problems and mock exams on the CFA Institute website.
Have you considered Analyst Notes? I’ve heard good reviews about their material and that they have harder questions than schweser. I am in the same boat as you with a band 10 fail. I am considering another qbank as well as I felt schweser’s material was very chug and plug.
I’ve never heard about Analyst Notes. But don’t know if I really need “harder” questions. I would prefer questions which are on the same level like the CFA questions. I don’t want to blame Schweser (put in just ~150hours), but in my opinion the question “style” was different from CFAI.
Wiley/Elan says their questions are comparable to the CFAI. So I’m considering to buy the Wiley question bank. 1600+ questions seems to be a lot, and that is exactly what I’m searching for. Who has made experiences with their qbank?
no, I fully rely on the Schweser books. I went through the Schweser books once. Afterwards I did all the questions in the Schweser books. I guess it was a fault to learn just with the third party materials.
My plan for June exam: I bought the Wiley Question bank and will do all the questions if possible. Doing the questions I will make notes, to remember what are my weak areas. After finishing the questions I will read the official CFAI materials in my weakest areas and do the CFAI EOCs (probably all of them!). 2 weeks before the exam I am off work. So I will have 2 weeks for full time learning. There I would like to make as much mock exams as possible (last time I took 6).
Does it sound like a good plan or would you recommend another way?
I don’t see the point reading all the books again. Would be time consuming in my opinion without having much effect.
I would like share a few tips with you. It is the CFA Institute that gives the exam, not Wiley, not Schweser. So, use the below points as a guide.
Solve blue-box questions in the CFA Book.
Solve end of the chapter questions in the CFA Book. Practice will help you speed up and gain confidence.
Glance through the summary pages of the CFA Book.
Prepare a cheat-sheet for all key formulae and ideas, for each chapter. I would highly recommend, writing and preparing your own - this would help you better internalize the concepts.
While taking down notes (concise), refer the CFA book. Don’t skip any concept.
Aim for 70 percent or more in the mock tests. Solve as many numerical examples as you can. Remember, some problems also test concepts from multiple LOS’.
Passing the exam should be a by-product of your knowledge.
Please let me know, if you require my notes - I have some pretty good ones on FRA. My email address is quasar.chunawalla@gmail.com.