How do you know when you're ready to pass Level 1?

CFA Level I
#1

Hello AF,

I just got my Schweser books today. A curious thought just occurred to me though. After studying with these books how do you know when you’re ready to take the test and pass? Is there a certain level of success with ??? that you have to achieve? Are there other elements and success queues that you can look out for to know you’ll take it and pass.

Actually, I tried searching for a thread with this topic but came up blank.

#2

Shoot for over 70% on mock exams. If you get over 70% in every section on test day you will pass the test.

#3

I see. I assume their’s a time limitation as well? Time has a funny way of helping you and then biting you in the #ss at same time.

#4

You know you are in a good position to pass the exam when:

  1. You have covered every reading as all of them were important.

  2. You have solved all EOC questions from Schweser and CFAI Curriculum (You may using other 3rd provider as well)

  3. You have solved CFAI web page self-assesments

  4. You have done at least 2 mock exams (AM+PM each one) and got at least 65%

  5. You have read Ethics at least twice.

#5

I was feeling pretty confident going into the exam, although still very nervous. I was getting high 70’s - mid 80’s on my mocks. CFAI online practice tests I was in the 80’s on most topics. I think scoring well on those is really the only way to feel confident going in. Dont be content with a mock score 65-70, thats still cutting it close. I scored 65 my first mock, took more and more and gradually had the last 2 where I was getting mid 80’s.

How I got to that point was by doing CFAI EOC’s, making flash cards, going over flash cards a lot. Make sure to REVIEW your mocks in depth. I would take a day or so just going through the questions I got wrong and relearning some topics I struggled with.

#6

…so these mocks, if you take them multiple times, aren’t you in effect defeating the purpose? since you’ll encounter the same questions over and over losing the spontaneity of brand new questions you’ll encounter during the CFA exam?

I mean if you get same questions over and over you could practically memorize the answers and not even have to solve it. maybe I’m seeing this from a rookie perspective. I just got the study materials.

Yes, and by the way, as I mentioned before, is time not a factor as well?

#7

when you can feel it in your bones you can crush it.

#8

You get different mocks. Buy some from a prep provider to give you more practice. I’d recommend you do at least 4-5 mocks.

#9

I can only be sure that I am ready to pass when I consistently get > 85% on all the mocks I take, but that’s just me.

#10
  1. when you start getting 70% or better on the mock exams
  2. when you understand all of the EOC CFA questions
  3. when u think about one of the ten topics and you can verbally “tell the story” of the material in the curriculum, in good detail
  4. anything that u don’t know u can explain why in great detail…and its usually something that is not a major topic in the curriculum

I started feeling that way about two weeks before the exam

#11

Apart from the above, I also feel I am prepared when I log in AF and I can answer almost all of the questions that people are asking.

Also, if you correct S2000magician and you’r right, I bet you will kill the exam.