I’ve been frequenting this forum since I first started studying back in December, but this is the first time I’ve actually decided to write something. I feel from what I have gathered, there are a lot of individuals who visit this site that have completed or are in the process of completing the CFA. So, I finally decided it was time to pursue some helpful feedback. I am a Sociology major so academically, I had very little background to build from. However, I do work in the financial services industry and I have obtained a few licenses (series 7, etc.) so I have some knowledge. I’ve been studying the Kaplan books for about 2 months- I read each book once and now I am going back through them and reviewing the LOS questions on the Kaplan website. I do have quite a lot of time I am able to set aside to study. I probably get in about 6 hours a day and more on the weekends. What I’m finding most difficult is quant- specifically stats. Although it does feel good to simply write this and vent, I’m really looking for anyone who may have some helpful feedback on how I can ensure the most efficiency out of my studying. Preferably those who have a similar background (I find it discouraging to get advice from those with accounting and advanced mathematics degrees because this is relatively simple for them). In addition, anyone who may have some insight on ways I can supplement my studying would be appreciated as well (seminars, books to compliment Kaplan, etc). Or if anyone has anything helpful to say, I’m all ears. Hopefully this can help others with circumstances similar to mine. Good look to everyone taking L1 in June- I’ll be taking it in San Deigo, CA Thanks for all the helpful threads that have been posted on this website thus far
Hi dude. Everyone has a different sort of studying style. I’m sure that after some 16 years of education, test taking is a familiar concept to you. You probably have some idea about what works for you and what doesn’t, so use your best judgment in interpreting anyone’s advice. In general, I would recommend picking up an alternate reference material. I used Schweser (I suppose this is the “Kaplan” that you mentioned) texts and found them to be superior to the CFAI books in terms of organization and readability. I would even go so far as to recommend that you use these exclusively, so as to increase the amount of time that you will have to do practice questions. You should also do all the practice questions that you can get your hands on. Schweser tests, CFAI practice exams and QBank are all good sources, particularly for Level 1. Practice questions are especially helpful in mastering the quantitative concepts - repeatedly applying math concepts is generally more effective for learning than just reading the book. Anyway, good luck. Hopefully, you will find that L1 is not as difficult as it initially seems.
I never implied I had 16 years of education and test taking- I’m only 23. When I said Kaplan I was referring to the Schweser. That’s pretty much all I’ve been studying. Most people I’ve talked to who are studying for L2 or L3 said they have never opened a CFAI book. I’m hoping that strategy works for me as well. I agree with you on answering as much practice questions as possible, I feel that’s where I have been benefiting most
^ wait so you never went to middle school, high school, and skipped right to the “Sociology major” You really have an uphill battle, being 23 you must still have like a 5th grade reading level
hmmm… touche, I’m just going to approach your comment light heartedly because I’m not really into being a jerk via an online forum where supposively we’re all here to help eachother… I misunderstood what was being said, I apologize.
was not trying to be a jerk, just making a funny. Relax and welcome to the forum. This is a great resource and people here are very helpful, me not so much… because im actually the same age, recent finance grad, retaking after getting band 7 in dec. aaaannnd quant kicked my ass, what im trying to say is im here to learn as much as you are. as far as advice, review, review, review. i got through it all, knew it well, but did not have time to review it and keep it fresh and fell flat on my face.
Ski2Much, I find Quant to be difficult as well. What were the major differences from your preparation to the actual exam? What are you doing this time around that is different?
When I started CFA I didn’t had a finance background either and I passed level 1 the second time. Although I have a masters degree in math I failed the quant section the first time. What helped me was reading the CFAI material because it puts everything in perspective and therefore easier to remember. REading the Schweser notes only and learning some formulas by heart didn’t do the trick.