How to start

Hi I have registered and got the CFA curriculum. However, i am not sure which topic to start with. Obviously dont want to start with a boring one. Please advise.

Even though it is probably the most boring topics I would start with ethics. You should read the Standards of Practice Handbook at least twice before the test. This is one of the most important sections of the test so be thorough.

Start with FSA, there was alot of FSA on the Dec 07 exam last weekend. I remember alot of lesse, lessor questions, cash flow questions. Wait on ethics, but definetly take it seriously when you read it. Read the Handbook at least twice like ttouchst said. The way I see it is when in doubt about what to review do FSA, quant. or ethics. oh ya, dont forget about econ, I wish i had put more effort into econ and there was more of it on the exam than i expected. good luck.

Cheers ttouchst and MichaelInOklahoma

I’ve found that starting with book 1 and continuing in sequential order is best. A lot of the topics build off of the previous readings so to take them in order may be best. Ethics is long and dry but you will be surprised at how much you’ll learn from reading it the first time.

I began reading sequentially. I skipped Quant in the first book because it is just so dang boring. Sequential seems to be the way though.

Hi, I earned a bachelors degree in finance. Now I am planning on registering for the CFA. I had a couple of questions that were coming to my mind. The first one was how to allocate time between work and studying for CFA. If I register for it now and get an exam date for july. Will this time be enough and the other thing was about the text. If I fail to appear in july will the text be valid for december exams? Someone who has already cracked the 1st level please help me.

The test is in June, and you should have enough time if you manage it wisely. I believe (unless they just changed it) the text will be the same for both 2008 exams, however they will make changes within the text which will be posted in the curriculum errata section of the CFAI website.

the texts will still be valid for the december exams… and i just sat for the december exams… i managed to study while working…wasnt easy, but i squeezed in study during lunch, after work, and on weekends…

Start early and stay consistent. Otherwise May will roll around and you’ll be kicking yourself…like me.

i sat for the december exam, and if i have to take it again, i’m going to start with FSA since it was my weakest area, and it has the most questions. i also work full time and had to find time to study 3-5 hours a day after work and on weekends.

Any advice on preparing for FSA ? I think that’s the most toughest of all.

do questions…lots of them… and make sure you understand everything inside/out…

Thank you. Do you recommend Schweser or CFAI Text Book ?

I would go for Schweser to review, CFAI if you’re new to the material, or unfamiliar with it. But i think the best part of using Schweser is doing their practice problems and QBank.

thanks xck2000

Sequentially; when you’re finished go over FSA once again since the tests has almost 30% of the questions geared towards that section.

thanks willchan11

i would start with what you’re already good at - if you’re an acconting major start with Income/CF section, then Assets, Liabs, etc. If you’re econ, then do that first, etc. That way you will find them easy and it will build your confidence. If you start with brand new stuff it 's easy to get bogged down and lose confidence. You will run out of time. Some people tend to miss out whole chunks because of time - eg some miss out alternative investments or derivatives. Don’t miss any sections - they’re usually full of fairly easy questions. If you just read it once you can pick up several easy points on the exam. Ethics is the biggest single section. Do it early on, then do it again just before the exam. The issues are the easy but the questions can be very tough - ambiguous, unclear, badly worded, red herrings and little tricks. Easy to read the material, but do lots of practice questions. cheers…

If starting with a boring one with your main concern…you definetly do not want to start with accounting. Even though towards the end I would say its one of my stronger topics, I still find it boring as hell. I mean cmon…its ACCOUNTING! Start with ethics like some of the guys suggest over here. Its more “real” in a sense, and in a way it doesnt feel like actual “studying” as much. I would go with Economics next as it introduce a gentle learning curve before moving on to other topics. All in all, I went according to how the books laid out the topics and I found no problem with it.