Advice for Diligent and Hardworking Level I Candidates (Type 1)

CFA Level I
#1

Dear Level I Candidates,

With the CFA exam only two months away, your stress level is likely to be increasing. Those of you who began your preparation on time (Type 1 candidate) may feel as if you have not retained enough information. This post contains advice your you.

If you have been delaying your exam prep (Type 2 Candidate), I’d say you’ve reached the ‘as-late-as-possible’ point. Unless you start slogging now, your probability of passing is very low. Advice for Type 2 candidates is in a seperate post.

Advice for Type 1 Candidates:

Type 1 candidates are diligent towards their studies and begin their work on time. For them the main concern is not to complete the syllabus, but to remember all that they have studied over their weeks of preparation.

If you are a Type 1 Candidate, here is my advice:

  1. Take a few minutes to evaluate where you are and construct a schedule (or refine the one you already have). Your schedule should involve:

a. Finishing at least one review of the entire course by early November (the sooner the better)

b. At least 4 weeks at the end for revision and practice

  1. Do not waste time trying to study every detail. Understand the main points, practice questions and move on.

a. Attempt the MCQ-based examples and practice problems in the curriculum.

b. If you can stay on schedule practice more questions from other sources.

  1. Spend a few minutes each day reviewing the main points from at least one reading you’ve covered before. You can watch summary videos which focus on the most important points from each reading. These will help with your revision and solve your “Oh my God, I’m forgetting everything” problem.

  2. During the final month of review

a. Review your notes and watch summary videos

b. Go over the curriculum questions – especially the ones you got wrong

c. Do more practice questions if you have time

d. Do the topic-wise assessments available on the CFA Institute Website

e. Do at least three full length mock exams

f. If a mock exam is being offered in your area, sit for it.

Good luck with your revision and remember the key to success: Practice, Practice, Practice!

#2

Noted.