Many of you must have passed CFA level 1 exam or at least have prepared well for it.Can you please tell the order in which the syllabus should be approached? I mean there must be some topics which cover the basics on which other topics must be based.So,please tell the order so that we have a proper defined plan.
As you can imagine, this very same question has been asked many many many times over. And a lot of very intelligent people have answered. You can find them still - this is one of the advantages of the modern times - just use the search function on the top right!
For my part, I believe I benefitted a lot from a thorough Quant and FRA preparation early on - as those topics are recurring in other sections of the syllabus.
Hey, I can share my viewpoints and my study structure. Well to starters, studying CFA Level 1 wouldnt be an easy cake walk for anyone. I have seen people with CA degrees didnt clear the lvl1 exam, which got me frightened. So what I could possibly do is study as much I could and finish the portion before atleast 45 days of exam. Then I took scheweser’s mocks/CFA mocks. In all i solved some 5-6 papers with scores around 65-78. I then worked on the sectoral subs where i scored less than 60, mostly economics, quants. So, then just kept drilling those subjects till last 20 days before the exam. Try keeping your cool though I know its difficult for one to as its highly time consuming and energy sucking to sit at one place and keep reading, eventually you would get something else in the exam based on the reading from the book.
Following was my strategy of sectors of study on the basis of my requirements.
1 - Quants
2 - Economics
3 - FRA
4 - Alternative Inv
5 - Fixed Income
6 - Equity
7 - Corp finance
8 - Derivatives
9 - Portfolio management
10 - Ethics.
Always do ethics in last as full fledged reading, though I expect you to read the basic concepts on the same everyday for 30 mins and then get back to reading your particular subject alloted.
Thank you for such a detailed reply.I have one more query.I have Schweser books,Question bank and Videos.Can I rely only on these to complete my CFA level 1 studies or some other source would be required?
I started preparing for L1 Dec’13 in mid of August. I have planned to finish each shweser review book in 15 days (including doing EOC and Challenge Probs in Shweser) and dedicate november for full throttle practice. Presently I am moving well with the schedule. I finished FRA in 15 days and now hope Quants will also finish this week. I have a tough job routine so get only 1-2 hours to study in weekdays and whenever I am lucky to have time I study 3-4 hrs. On weekends I study 10-14 hours. In Total, I have given like 30hours a week since one month. Its hard I know but I have high spirits. I am trying my best and lets hope for the best.
I too started in Mid of Aug. So far reviewed just Ethics, Quants and FRA. Barely can study 15-20 hrs a week. Hopefully will ramp up. Probably will end up taking the exam with maybe 180-200 hrs. Lets see. Finger crossed.