Hello friends, I am appearing for the CFA level I in June 2014. I am quite worried with 92 days left & I have just completed FRA, Quants,Corporate Finance & currently doing fixed income & derivatives. Considering my non-finance background, I dont know whether I am going at right pace?? Currently I am putting 2 hrs every day with biggies like ethics & eco still remaining. My aim is to complete all readings atleast once till April 10. I am also solving QBanks of completed topics simultaneously. PLEASE HELP!!!
You’ve done much more then me, I just started studying the material. I’m hoping my education in finance/econ/accounting and having recently studied/passed the series 65 helps me get into the mindset to cover everything in the next 3 months.
I’d aim for mock/practice exams by mid-April; if you’re on track to meet that deadline (i.e., having finished all study sessions), you’re doing OK.
No that’s absolutely terrible progress. with 90 days left, you should have read and re-read the curriculm twice by now. and have done all practice questions 3x.
As i always say, the best way to know is to write the mock exams, at least on the sections you have covered.
you need to know early if you have learned what you studied. you can’t afford to do mocks 2 weeks before the exams and realize you havn’t understood most of the concepts in almost every section!
So what do you think?? To really quantify it how many hours of quality study per day for doing all that stuff 3 weeks prior exam from today?? I am currently going through economics. & by Qbanks I meant 120 questions of each subject & have done FRA & Quants QBanks twice & have almost memorized/learnt all the formulae & solved difficulties I came through in between. How many re-reads of all readings are necessary before final exam? Haven’t gone through Ethics as such but I think FRA & Quants are quite tougher compared to eco & ethics.Should I go all guns blazing from now on?
It’s hard to say if you are ahead or behind as everyone is different. For me on L1 and L2 I was ready to start doing mocks when I had compelted two passes of the material, all Schweser EOC questions, about 100 to 150 questions per section from Qbank, all CFAI text EOC questions, and had a firm grasp on all my notecards. When I had done all of this for L1 I was scoring in or around 80ish on the Schweser mock/practice exams initially and improved to mid 80s from there. This was a bit of overkill for the exam but it was my approach given the time I had budgeted. Your approach will depend on you and your learning style, and as such it is hard for anyone to tell you that you are ahead or behind schedule. S2000magician gives good guidance when he says mid April to start mocks - I was at this point for L2 but did not start mocks on L1 until November (december L1 taker). You could push it later than this if you have all of the above listed items down cold but usually people assume 1 month for mocks/practice tests as for many timing is an issue on L1 and doing a few of these tests helps give you a feel for progress throughout the exam.
I should point our for me that when I say I completed two passes the second pass was more just a re-read of highlighted material, plus questions I was struggling with from the first pass (Schweser EOC, Qbank), plus really comming to grips with the notecards for that section, plus doing CFAI text EOC questions. In all my “second pass” was quicker than my first for both L1 and L2 but still always seemed to take longer than I expected.
hope some of this helps…