Guys, Last year I had to drop out for family reasons. This year I managed to overcome the inertia and here is what I am doing: 1. Go through CFA text - as many of them as I could 2. Focus on End of chapter Questions ( I do not know what to do with those readings that do not have end of chapters questions) 3. Try past exams + mock. 4. Stay away from Schweser + Stalla + and their kind Questions: a. will i be missing anything with this? b. If I run out of time and I need to focus on some MUST KNOWs and overlook some materials, which are the must knows? and which are the ‘may overlooks’? (although every material is recommended by CFAI? Grace
If you have any concerns that you may not get through all of the CFAI text, then you should be utilising Schweser or Stalla. In my opinion, the CFA texts while thorough, are an inefficient use of your time (with the exception of ethics) and study guides are superior. I only use the CFAI text for ethics and all of the EOC questions.
thanks f o f, now you almost planted your screen name in my heart… schweser did not go well ith me in level II until I changes to the text…but as you have so candidly expressed your thoughts…well… I really dont know what to do now about schweser now… Any thoughts folks?
Hi, Grace : My suggestion is that you go with Schweser first and come back to CFAI text if you feel some concepts are not clear as you said you may have not enough time. Schweser’s study notes are not perfect but can save you much time for some basic concepts. On the other hand, some readings in CFAI’s texts are very boring and it is not easy to grasp the key concepts. I don’t have any idea about Stalla’s study guide, maybe someone else can give you advice but I think that Schweser’s study notes & CFAI’s texts can be complementary. CFA L3 exam is very tough to me too. Let us go go !
thanks AMC …I see you on page 377 reading 41!..lol
Go with the Schweser notes after one read-through of CFAI Text. Way too much volume in the text to read / skim it multiple times.
McLeodu81, THanks a great deal…I know not what to do with the chapters that have no end of chapter questions…any thoughts?
Stick with texts if you have time and patience. Best way to absorb all info. If too fast through prep stuff, retention lower. That said, must continue to plow way through CFAI on schedule. Problems most important.
I failed using mostly Schweser last year… I only used the texts for IPS’s. I also failed LII using only Schweser but when I repeated I used CFA Text and Schweser. I am now reading the CFA text then I read Schweser right after. Then I do the questions from both the CFA text and Schweser.
tks guys…i trust that we shall put in our very best for this exam… and hopefully pass
it’s all personal, but i would have absolutely died without schweser on L3… L2 probably would have been fine with CFAI only (even though i thought schweser was much better there too)
Guys, after a thoughtful reflection here is what i settle on: 1. do all i can to go through the CFAI text 2. Do all End of Chapter questions 3. Do as many past exams as possible 4. take a mock or two 5. No schweser…no stalla Questions 1. Is this a great approach? 2. What is the best way to dig into those sohrt chapters with no end of chapter questions? will appreciate your insights guys…
grace, everyone is entitled to an opinion and i respect yours… but any specific reason why you seem to be so anti-schweser. i realize it does cost extra money. i just found i can blow thru schweser 5 to 6 times (even 10 times for some sections) whereas CFAI i might get thru twice. i do like that you realize EOC Q’s are key. old exams too. but it’s hard to get to that stuff if you don’t feel somewhat comfortable with material.
My advise- refer ti CFAI texts when you need more explanation. Othervise Schwesers. EOC question stake up huge chunk of time.
Everybody is different. So what matters is that you find a strategy that suits YOU. And that once you have chosen it, you stick to it. I studied for the L3 with the CFAI materials only, and I did my own study notes and flash cards. That worked well for me, because by having to write my study notes and flash cards, I had to identify what was core, and the writing process made me learn it and more importantly, remember it. I did not do that to save money; I did that because I know that I learn better by writing than by either reading or listening. So what I would advise is that you identify how you learn, and design a strategy that maximizes your chances of absorbing the maximum in a minimum amount of time.
obviously to each their own… but it seems kinda weird to ask for advice, get advice from people who passed on first try quite comfortable almost exclusively using schweser (for text) and then say, “well, i’m not gonna use it”. anyway, people who have actually passed reasonably comfortably seem to like schweser. i do know one person who passed L3 without schweser but that is it. probably know 12-15 who used schweser. anyway, if you use CFAI, do whatever you can to get thru it fairly fast and MAKE VERY GOOD NOTES… photocopy the summaries at the back of each reading and make your own little schweser-lite package.
westbruin, i valued your advise and those of others who have gone through the program. I did weigh all the views and on balance, given my personal circumstances and style, I decided to go the CFAI route. i value highly the point you raise on taking notes and I am taking that on board… You are right, to each, hers… In the multitude of the counsel I have received both on and off forum, have I come to this conclusion. I value A-F and will continue to play here…
westbruin, derswapo et al i valued your advise and those of others who have gone through the program. I did weigh all the views and on balance, given my personal circumstances and style, I decided to go the CFAI route. i value highly the point you raise on taking notes and I am taking that on board… You are right, to each, hers… In the multitude of the counsel I have received both on and off forum, have I come to this conclusion. I value A-F and will continue to play here…
I failed last year, using Schweser almost exclusively & the CFAI for the just the IPS material & maybe 2-3 other areas like Fixed Income, GIPS (of course maybe I’m a dubm**s) I’m sure it’s possible to pass w/Schweser only. However, having worked just w/CFAI books since January I feel the CFAI EOC problems are closer to the real test material - i.e. you have to think. Most of the Schweser practice problems weren’t that helpful, in my opinion.
grace, sorry. it might have been a hissy fit by me… and i do see someone who says they failed with schweser and are hopeful to pass with CFAI this year. i think there are also differences in backgrounds. more you have taken the material before, more u can go with the summary services. just make sure you come up with a way to keep all the material in front of you continuously (obviously superficially)… once you make a good set of notes, review them constantly on coffee breaks, lunch breaks etc. the biggest problem with deep study is that you don’t see certain material for months.