I’ve had mixed experiences thus far using CFAI versus Schweser for exam prep. I used Schweser for level 1 and found that there were a few things on the exam that weren’t in the textbook; used CFAI for level 2 and found that it took a significant amount of time to get through the material.
Where do you think this falls in terms of cost/benefit with respect to time versus comprehensiveness of the content for level 3?
Apllause on the passing confidence.
Great question to ask LIIIers in the not-so-distant future.
Schweser does pretty good job for L1 and L2, for level 3 you would need to open the book.
Counter argument: I know a person from this forum who cleared all three levels with Schweser only at least this is what he claims… My guess the practice of writing under time constraint makes a difference !
I was hoping for a little more insight, anyone else willing to share their thoughts?
I think Schweser covered most, if not all, of the material that showed up on the exam last June. Not in great detail obviously but I think it was good for an intro to the material.
If you’ve got family commitments, a full-time job and only a few months to study you can get by with Schweser, but if you’re going to start studying in Janaury and can put in 400+ hours, I think Schweser is best used for an intro to the material in Jan-Feb and the CFAI books are key for March-May. If you have the time, heavily utilize the CFAI books – they aren’t nearly as long as Level I and Level II
I don’t know if I even clearled Level III, so take this advice for what it is, but the Schweser AM mocks aren’t worth doing so don’t waste your time. CFAI gives you the real exams from past years and they are significantly different and more challenging. Reading past years’ guideline answers on certain topics are a gold mine of concise information, too.
IT’s all in the CFAI curriculum. No skipping, no synthesizing.
Writing your own notes is good for practical experience, therefore remembering better. Reading is not as efficient for remembering as writing is.
Emphasizing on reading your last year’s notes, or memorizing somebody else’s notes: you will be retaking the test.
I can’t speak for Schweser’s entire content; however, I did their mocks for level 2 only, and they were odd, never used them again.