How is studying progressing for everyone.
OK
My study plan, which started in November, has me working through one CFAI text per month (leaving May for review). I’ve averaged about 15 hours of examp prep per week, which is 5 less than my goal. I’m halfway through FRA right now. Based on the the practice questions that I have completed, I’d estimate my total retention to this point at about 60%. Obviously that figure needs to be at 80% or better heading into the exam.
I started about two weeks ago, and just about to move on to Study Session 3. I am planning to study about 15 hours total Monday through Friday, and about 10 hours total every weekend.
I am very happy that there is great community of people taking the same exam on this forum! Best wishes to all of us as we move through the studies!
Hi all! I have started studying for CFA Level 1 today. I am thinking there is sufficient timing given I have already studied for it once, and have a finance and economics background at undergrad and postgrad.
The tricky unit for me last time was accounting!
What would you all advise to start with? The behemoth FRA?
k.p.24, if you consider FRA to be a challenge, I would start with something else, something that you actually feel strong in, so as to (relatively) quickly build up confidence and be able to say that you have completed a section.
Then come come back to FRA, or even mix it with other topics. Starting with the big one, may leave you discouraged half way along the way.
I would say keep ethics for last, start quant and move you way up to derivatives in order. Or start with a topic you are really interested in to keep motivation for the harder ones as wojtek mentionned.
Awesome advice Wojtek and cfageist!
My benefit is that in my first time of studying for CFA, FRA was completely new to me, but in the 18 months since studying, I have become acquiant with financial statements when analysing companies in my daily job, so feel as though I will be building on a base.
Regarding Ethics, my strategy is to cover it relatively quickly as it was a strong topic last time I took CFA, and then get cracking on questions.
In that case start with FRA, get it under your belt quickly and you will enjoy the mental advantage of having the ‘behemoth’ out of the way … although with FRA ‘out of the way’ is probably not the best phrase to use 
Are you referring to formulas such as skewness and kurtosis? Correct me if I’m wrong but don’t bother memorizing them. Just understand what they are about. In the LOS it doesn’t require you to calculate them.
Reading 7(l): Explain measures of sample skewness and kurtosis
If it doesn’t use the word calculate, just understand them. Sometimes, the LOS will have words like “explain” or “define”.
I just finished working through FRA. I will definitely need to revisit it at a later time. Mastery of ethics, quant, and econ are within my grasp, but I cannot say the same about FRA. Luckily, the topics from this point on all seem much more interesting. Plus, some of the CFAI texts are thinner!
we’ll pass ^^
Guys and gals,
Good luck in June! I know how you must be feeling as I felt this way back in summer when I signed up for L1 in December … just try to cover the material and understand how the formulas work - all of the memorization will happen in the last month anyway. My only advice is to really dedicate yourselves to the exam every day - if only for 10 minutes because there is always something better to do (or so it seems at the time), but this is one exam where very few people can twiddle their thumbs for 4 months and then prep and pass in 4 weeks. The pass rate for Dec was 37%, and it is trending lower each year, so put in the work and you will have a good chance to pass.
Magnus
I have found that the best way for me to overcome the anxiety that is induced by my exam prep is to exercise. I covered a particularly difficult reading yesterday and was feeling down about my chances of passing the exam in June. I wrapped up my studies early, hit the exercise bike, took a shower, and grabbed a Diet Coke. I am back at it for another 3-hour study session this morning with renewed enthusiasm.
Side Note: I have always been relatively calm and collected, so I have been surprised by the emotional roller coaster ride that is CFA exam prep.
I just put in a solid week of exam prep, so I am treating myself to an easy review today (videos, flash cards, Analyst Forum, etc). I came across Investopedia’s Level 1 study guide and, considering that it’s a free resource, found it to be fairly useful for review purposes. I am sure that this link has been posted dozens of times before, but here it is again:
http://www.investopedia.com/exam-guide/cfa-level-1/ethics-standards/#axzz2L9oqeIQ6
I’m finishing up Volume 5 this week and then starting the last book next week, Alternative Investment. I’m also getting ready to order my Schweser materials for review but haven’t quite decided on what to get. I think I’m going to finalize on the Essential package along with the Secret Sauce.
Most of you guys are way ahead. I read through Ethics begining this month. I finished two reading on quants in the last few days and will be stepping it up now. There are 67 readings and my plan is to cover 1 a day from now on along with the Schweser concept checkers.
I’m using a combination of Arif’s videos which work great for me and Shweser notes. This should give me about a month for review and practice questions.
All the best you guys!!
Great to hear everyone preparing for their CFA June. I just started, and finished Econ parts. Started on ethics and will be doing quant.
Anybody here from Singapore, wanna study together?