I am covering Equity from CFAI Books as trying to be safe side and works fine for me although at beginning I considered this overextensive. For Accounting I consider 2 options: #1. Study CFAI Material. #2. Study Schweser solely and do CFAI EOC questions at end of each chapter. Which do u recommend? Thank you
I used almost 100% Schweser for FRA but I did all CFAI In chapter examples and EOC problems. I think I must have scored 100% in exam. Look for the “Sure things” for example Pension Accounting is very very important and very high chances of showing up on exams so don’t miss easy predictable points. Good luck
Supersunny138, do you think that schweser EOC + CFAI EOC problems are sufficient or do you advise to do Qbank problems ? Thanks
EOC Problems are enough I didn’t even do a single Qbank question. But you can substitute it with in-chapter examples they are even better than EOC questions.
Thank you very much Supersunny138
Supersunny138 Thank you for comment. You think the CFAI material is way extensive compared to Schweser hence your suggestion to opt Schweser for reading?
I would echo Supernanny138, I only did the EOC and some Qbank. And for prep I only used Schweser. But EOC is where it is at. I would point out though, that the topic of Economic Pension Expense is one topic I found Schweser to be a little too short. You might be well advised to study that from CFAI.
Dear All - Thank you for feedback and comments
In 2010 I couldn’t get into the CFA FRA book - it was just too long winded. Gave up and just used Schweser for FRA. Ended up failing FRA and the exam with a band 9. In 2011 I persisted with CFA FRA book. Went back through it a second time (and did FRA EOCQ a third time) just before the exam. Passed the exam and was >70 in FRA. Good luck.
Dear SFA. I also find the CFAI material so long… but will read it instead of wondering…
CFAI For sure ! take all the time needed to read the CFA Institute book. It will allow you to understand the fondamental and bump the tricks in the exams. In my opinion, its the best way to really understand the FRA topics.
Actually as I said I used mostly schweser … and I think it also depends on a person if you have time for sure do CFAI texts. But even if you use Schweser pls do EOC and in chapter examples.
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If FRA isn’t your area of expertise, I would say go through the CFAI books first (make notes in margins for a quick review later). Put things in table form IFRS vs GAAP so its easy to remember; headings like HAT -held for trading, available for sale, trading/designated at fair value). If you can, take the John Harris accounting workshop. Do the EOCs twice. I would read the CFAI texts for Equities, FRA & Ethics (twice), everything else Schweser+CFAI as reference only. I purchased the Eleventh hour guide, printed it (organized it in a binder) and added notes/formulas/examples from this forum and my studies from CFAI books and Schweser as I went along. In May I had this binder as a condensed version of everything I read and used it as a review guide. Also, take the formulas in each of the Schweser notes books and add to them as you read. If you do use Schweser exclusively, then do note differences in each section. Do not skip EOCs for these critical areas.
Dear All, Thank you so much for your time and consideration for your responses. Since there’s plenty of time ahead and as Accounting is not really my field I have decided to cruise through the calm and long waters of the CFAI books / material. And of’course do in chapter examples and EOC questions. Same for Equity and Ethics. Will look into the John Harris Workshop although cost is an element here… Another question (if I may). After I have studied the CFAI material for each topic and have done in chapter examples and EOC questions, do you see any real value and benefit in doing the Schweser exercises for practice? Thank you all.
John Harris workshop is well worth the cost, if you do anything at all do that
john harris comes highly recommended. he is one person whose course will make a hell of a difference, since over 2 days he covers the entire course end to end. His mastery over the subject matter is absolute, he teaches it beautifully and helps you make it intuitive to understand the material. Additionally - he provides his own course ware + problems based on the vignette style. He also offers personal coaching on anything related to FRA up and until the exam. Attending his class, assures that you would not have to worry about at least 1 subject come exam day.
Oups… Just looked into the John Harris Workshop thing and I am afraid this is not for me… although I’d love to attend same. This is way to far…from ground zero of the present sovereign debt crisis (country)where I reside. Will stick to a lot of revisions.
I would not waste time on Schweser practice questions, unless its a topic which has no EOCs. That said, for me the Stalla Passmaster helped grasp and retain concepts through repitition in the Quant section. I wouldn’t waste time on it or any other question bank/practice questions for any other section. You’re better off doing the examples in the chapter and then EOCs for things like Derivatives and Fixed Income.
Hey guys I live in Australia and want to pass Level II on first go. I did get >70 in level 1 FRA. Is John Harris’s class worth me travelling to LA to do the class?