# How important is statistics?

So far I am on book 1, and in my opinion Ethics is easy but then again seems a lot more like memorization.

I feel as if I should study this last…

Anyways PV and FV problems were pretty easy/kind of fun to relearn.

Statistics, I am struggling with since it is sooo dry. And there are a LOT of formulas to learn.

Technical Analysis I LOVE!

From what I hear, there isn’t many “quanitative” problems on this test but I am not sure if I should spend so much time on statistics in “mastering” the topic.

It’s been taking me like 3 weeks to get through statistics topic.

http://www.cfainstitute.org/programs/cfaprogram/exams/Pages/exam_topic_area_weights.aspx

Quantitative Methods is 12% of the Level I CFA exam, and 5% – 10% of the Level II exam.

Fairly important, I’d venture.

I think the Portfolio Management section is heavy on statistics, too. I think you’d have a difficult time understanding the theories of that section if you didn’t have an understanding of correlation, covariance, standard deviation, etc. Stats are important.

While the reading Ethics may seem simple, the actual questions on the exam can be difficult. There’s often a lot of grey area within the questions – I found it to be the most frustrating part of the Level I exam given that the material seemed relatively easy. Don’t underestimate it, and it’s a big part of the exam.

And of the QM material, the probability and statisticss material is probably 1/3 to 1/2 of that 12% for L1. So, figure on it being 4-6% of the exam. Definitely a big one.

I just finished the probabilities section (almost done with reading 3), and I too felt this section was tough to get through, especially probabilities. But necessary… Cant wait to move on to economics

A good grip on Level I quants will help you a long way.