Considering the CFA...

CFA Level I
#1

I currently work as a Trust Officer for a large bank and I am considering the CFA to boost my credentials. I have taken a practice test that had a little over 80+ questions that are weighted similar to what the level 1 exam is. I have scored about 57% on the entire exam. I thought this was pretty good considering I have not studied for the test and have never taken an econ, accounting, or finance class.

For someone with a limited background in those 3 areas what should be the best way for me to study for the exam?

Thank you!

#2

I’d say you were lucky with a 57%. You don’t need to have a background of acct, finance, or econ, but the learning curve will be steep for you

#3

just memorize the 4000 questions in the qbank

#4

What’s your time frame? If you have at least 4-5 hours a day and around 6 months, then study from the CFAI books and you are good to go. However, if you are crunched on time, Schweser notes and videos are the way forward. Also, the Schweser question bank is invaluable from the perspective of simulating exam scenarios.

#5

Thanks everyone. I was considering the December 2012 test so starting in June would give me 6 months to study. Its obviously going to be a lot more difficult then the CFP® I took 6 years ago, but definitely think its doable.

I had good luck utilizing Kaplan for the comp review. Notes seemed to be concise and really focused on what you need to know.

Thanks again for the input.

#6

Thanks everyone. I was considering the December 2012 test so starting in June would give me 6 months to study. Its obviously going to be a lot more difficult then the CFP® I took 6 years ago, but definitely think its doable.

I had good luck utilizing Kaplan for the comp review. Notes seemed to be concise and really focused on what you need to know.

Thanks again for the input.

#7

You’re fine. If you want to spend a lot of time, use the free CFA books that come with registration. I did, I really enjoyed them. Very thorough. If you don’t want to spend more time than you have to, use Schweser Notes. Much more efficient.

#8

Go for it. I wrote the CFP in 2001. In hindsight I should have taken a year tops before starting this lovely little program (my brain is dog meat and has been for the last month).