For Level 1, I used Schweser. Barely did any CFAI EOC, but took Schweser and completed their questions at the end of every reading. They were kind of a joke, but helped reinforce concepts a little bit.
For Level 2, I did ALL of Elan’s practice questions for each reading, and also completed CFAI EOC. Both were very useful, somewhat challenging, and very much needed.
For Level 3, Elan isn’t an option as they don’t offer a course. I’m planning on doing CFAI EOC. I don’t want to take Schweser because, again, their questions were a joke and I’m aiming for a deeper understanding this time given the essay portion in the morning. So I’m reading the CFAI text, and doing the practice questions, but I don’t have any third party material for additional support.
So, I guess my question is two-fold:
For L3, is third party material useful for the practice questions?
If so, what did you guys use?
Schweser + CFA EOC + CFA practice exams
+1…and Schweser Qbank if you just wanna drill one one thing to burn it in your head.
I also print the answers to the exams (CFA and Schweser) and go over the answers a few days before the exam.
Do the CFA end of chapter questions and the blue box questions as you go through the material. I also did the schweser EOCs as well but consider them more as a memory aid rather than anything remotely like CFAI questions.
Do all the online CFA questions by topic as you go and then again at the end.
Do as many AM past papers you can find, when the time comes, and review the answers multiple times.
Basically, do every single CFAI written question you can get your hands on.
Do qbank questions to drill down on a concept you need to drill down on or if the EOCs are light on a particular topic.
Do all 6 Schweser practice exams. Feels like a waste of time and they are nowhere near representative of what you’ll see on exam day but use them as a learning aid as opposed to a gauge of your exam performance. If you get to the end of book 2 and you don’t feel like jumping out the window you’ll be in a good place.
Solve as many mock tests as possible. It should be the motto!
This varies by person. What I did:
Level I: CFAI EOC mostly + some Schweser questions + CFA mocks only
Level II: CFA EOC only + CFA mocks only
Passed both on the first attempt (means absolutely nothing).
L1: CFAI EOC and CFAI Mocks…half of a schweser mock before I decided it was trash.
L2: CFAI EOC and CFAI Mocks
I’ll stick to CFAI for L3 and see how it works out round 1.
- Grey Boxes
- CFA Mocks (AM + PM)
Do these 3x each, and you should pass.
Use Schweser for your reading if you want to, but yes, make sure you read the blue boxes in CFA book and do CFA EOC questions, Schweser questions are not enough for level 3
Schweser questions can be useful for item-set questions… but also you gain alot of exposre (which is good)
Past CFA Morning exams + Mock exams