I’m writing the December level 1 exam. But I’m at a crossroads as whether to just self study using the prescribed CFA material. Or to study with one of the additional companies like Schweser or Fitch. What do you guys think? Worth getting extra help or can it be comfortably done just self study with CFA material?
Typically what I see most people do (including myself) is study the Schweser (or third party material), and use the CFA material for the practice questions and/or as reference material for certain topics.
CFA material for level 1 is about 2500 pages, compared to 1500 pages for Schweser.
I used CFAI material. They maybe heavy on content, but I feel even if you use third party material, you might need to refer to CFAI for the topics that might not have been covered in those materials. People recommend doing Ethics from CFAI.
Goes without saying, it would involve good amount of effort and time but if you can retain CFAI content, you got it!
CFAI material worked for me as well on the first two levels. And hopefully the third.
You know if you use CFAI material it will cover EVERYTHING you need to know. Plus then you don’t have to pay extra for Schweser.
I use Schweser study notes in addition to CFAI material. Schweser does a really good job condensing the material however the “practice problems” at the end of each chapter are 10 times easier then the EOL questions in the CFAI material. I usually use Schweser to read the chapter but then do the EOL questions at the end of the CFAI material. In my oppinion you will be much better prepared for the exam by strictly studying from the CFAI material.
Actually the Level 1 CFAI texts are 3321 pages worth of material not 2500. You can be successful on the CFA exams if you use the CFAI original material.
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Take Notes using the LOS as your guide. If your skill in notetaking from textbooks is weak. Learn the SQ3R system for notetaking from textbooks. So many candidates avoid taking hand written notes and it’s really a skill an analyst should master. It will serve you well once you get to level 3 when tackling the essay portion of the exam.
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Make flashcards of formulas and important concepts.
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Use the topic exams and mock exams on the CFAI website.
Use the 60%/40% time management approach. 60% Reading/Taking Notes/Review Sample questions and solving end of chapter questions. 40% of your time should be spent making flashcards, reviewing notes and learning and mastering sample question problems and end of chapter problems. This is an approach that will take you through all three exams.
Use these links for additional information on how to manage the exams using CFAI texts.