Considering the CFA


So I have been browing this forum when I have had some free time because I am considering going for the CFA. I have tried using the search function, and while very helpful, I still was hoping to get some input regarding my specific situation. So I apologize in advance if this thread has been created a million times in the past.

If my backround info matters, I currently work as a stockbroker. I know the position sort of has a bad rep around here but imo the experience is useful. Anyways, I want to become a CFA candidate for a variety of reasons, mainly because I am interested in equity valuation and financial markets in general. I graduated college with a BA in Finance a little over a year ago.

I have decided that it is simply too late for me to start studying for the upcoming December exam. So I am looking at the June 2016 exam, and I am just wondering when do you think it is a good time to start studying. I am worried that it may backfire if I start immediately, but I still figure I may as well start early. Does anyone have any general recommendations? I enjoy reading/studying, and I am not productive with my free time anyhow. If it matters I plan on using Schweser and the occasional source material.

Thank you

Most people don’t start studying for the December Level I exam until at least July, so it’s definitely not too late today.

Tomorrow, of course, will be too late.

As for starting to study for June: I’ve never understood people who say that you don’t want to start too early. As far as I’m concerned, there is no too early. The earlier you start, the better.

I agree with S2000 that its definitely not too late to start studying for the December exam, especially if you have just recently completed a BA in Finance.

Not even close to being “too late”…Just use your time between now and then productively and you have more than enough time.

If you hit it moderately hard for level 1 from 1st September you will be fine.

december, June, June and you will be done. Much better than having guilt of “should I be studying?” For q longer period which you have with a level 1 June sitting followed by a year to wait for level 2

Interesting, thanks for the responses. I was under the impression that it would basically be impossible to pass the exam with under 6 months of studying given the amount of material, so it is good to know that is not the case. I am going to register for the December exam and order the Schweser self study package. I plan on referencing the source material when I come across topics that I find particularly difficult. From what I hear, this along with lots of practice questions is all you need to pass level 1 (although apparently 2 and 3 are different beasts altogether). I also work a 4 by 10 so I can fit 3 very solid days of study in every week.

Thanks again. Very glad I asked because I think waiting until June may have been a very big mistake the more I look at it.

Not too late. I started studying for L1 in July and was also in my last semester of school. You will be fine if you don’t waste your free time. I suppose if done right, you won’t have any free time…

It’s not too early. If you are concerned with burnout early, then you are not fully understanding the program. It’s a little bit each day over a longer time horizon. Go for 2016 and enjoy the learning process. But don’t do what I did and get all worked up over it and give yourself a case of the shingles!

Here is my advice to you,Don’t go for it.Best case scenario you get your charter and hang it on the wall, worst case scenario …

It is possible and it is not too late, but this depends on your study schedule and study speed. Two persons may end up with different result and the same study time. It also depends on the study package you take, and schweser takes less time. I would suggest buying TimePrep which gives you prompt feedback if you study enough or not and how much time you need to invest more to complete the program on time. It helped me a lot in time presure because I was always sure I will complete the program even when I failed study sessions - I just used it to reschedule.

I don’t know who thinks bad about it but its as respectable to me as any other profession. Given your BA in Finance, IMO you are overvaluing level 1’s difficulty, you can pass it comfortably if you start from now and put in around 300hours over the time. But remember its a marathon and not a race so consistency is the pre-requisite. Level 2 is difficult (sorry- challenging “MahaM”) but I know many Asian non-english speaking friends with finance backgrounds who passed L1 studying few weeks, I don’t recommend that though but if you start from now or mid-August you should be fine.

And welcome to AF community!