I am taking the Dec 2014 level 1 exam. Any advise as to which is the best way to prepare. I have got the CFA books and also bought the Schweser package. I have basic knowledge of finance as had corp finance in my college but thats it. Everything else that I know is basically based on my own education like knowing how to read balance sheets, etc, nothing more than that. I work full time so difficult to spare time during the week but weekends I have free. moreover i consider having only 7 months as one month I have taken out for business travel.
Put together a study plan on an excel spreadsheet. Put down how many hours you want to study total (I’d recommend 350) and list out the total number of pages to read and when you want to have them read by. Then you’ll have 2 numbers: one is the number of pages to complete per day and the other is the number of hours to study per day. I’d recommend finishing up your reading at least a month in advance of the test date. Use the remaining time to review your notes/highlights and take mock exams. Lastly, re-read ethics in the week or 2 prior to the exam.
I am starting with CFA books at least for the ethics part as lot of people have advised that. Then I will see what suits me most but I do plan to read the CFA and not only Schweser. However only time will tell if I will have enough time to read both so ultimatley I may only go for schweser as thats more concise. At the moment finding it a bit difficult to juggle full time work and then this, but who said CFA was easy?