I got a very poor results, plz give some suggestion on preparation[updated]

CFA Level III
#21

My suggestion:

use third party resources for your reading(read at least twice)

answer all 3rd party questions and EOC questions ( at least twice)

make flash cards of formulas and key topics ( keep everything brief you need to be able to remember the key concepts)

try and do multiple old cfa mocks and old am tests

take two weeks off if you can and study 8 hrs a day

i found this was a efficient way to study as I worked full time, have a wife and son, and enjoy time with friends and sports. I didn’t have time to read the CFAI books and between 3rd party and EOC questions I haven’t seen anything that wasn’t covered.

last year I failed band ten I did the above but without flash cards and I didn’t do a single mock. Last year going to into the exam I thought I knew it inside out, wrote the exam and walked out feeling like shit. I was surprised I even got band 10. This year I i know I knew the material way better. Found AM semi challenging time wise and question difficulty, finished with about 15 minutes left. Found the PM easy finished in about an hour, taking my time and slowly reading each question for wording tricks. Left the exam with a smile on my face knowing I probably passed. AM: two <50, 3>70, PM all over >70. I don’t consider myself to be super smart and I found this to be a efficient way to study and still have a personal life, except the last two weeks in May. Everyone is different but I found this effectively covered the material to the extent I have ever seen it tested or questioned. Hope this helps good luck

#22

thx for yr advices. I am very slow in reading the textbook, may be i have to speed up

#23

For reading the cfai textbook, as I have the memory and some concept of the materials, should I read them word by word? Or go to the bb and end of chapter directly? And only look for the thgs that is not appeared in the schw textbooks?

#24

Anyone can help ?

#25

I passed this year on my 2nd attempt. Used Finquiz notes. I like that they are meant to be used along with the curriculum. So the notes will tell you, “go do the CFAI BB, go do the EOC Qs…” Saved a ton of time and was hitting the mocks hard by mid April.

The PM saved me (7 over 70) and I could not have done it without Schweser books 1 and 2 (Only used them for the PM; 6 exams total). Plus of course every available CFAI Mock and online Q.

If you can manage to get your timed scores on the Schweser PM mocks to the mid 70s and 80s you will nail the PM. I found some of those Schweser Mocks harder than the real CFAI PM.

As for the AM, can’t advise you on that.

Good luck.

#26

Hi, I am from Vietnam, pass L1-L3 in 1 consecutive row in 2 years using one strategy called “mindmap”.

Here is an example onestopinteriors.com/pd/ mind - map - cfa -level-1.pdf

I basically study in 3 rounds in 6 months starting January

Round 1 Reading to mindmap:

Basically, I use this as a skeleton and add my notes from the readings to this mindmap. Eventually, I condense 3000 pgs in Schweser to 100 pgs in such Mindmap to 6 pgs of Schewser Quicksheet (I improve the QS with my own notes as well). The process takes roughly 2 months. But after that, I know the Quicksheet like the back of my hand. And believe me, if you really understand the material (understand not remember), you only need to know what is in the Quicksheet to pass (especially the formula, you will not forget them in the exam). Know the Schweser. Understand the Mindmap. Remeber the Quicksheet.

Please note that I dont do any question at this point because it will only slow down the process of squezzing the juice out of Schewser.

P/s: Normally 1 reading in L3 = 2-3 pages in Mindmap

Round 2 Reread Mindmap and Practicing Question:

I reread each mindmap reading (this would be 2 -3 pgs of really condense material instead of whooping 30-40 pgs in Schweser or 100 pgs plus in CFAI). Once I refresh the content I would do all EOC question and Blue box questions in CFAI. DONT DO Schweser, 2 easy.

I keep a list of questions that I did wrong in excel form and write the notes on concepts that I need to revisit.

This process takes roughly 2 months.

Round 3 Mock exam mock exam mock exam

At this point I have a ritual of flashcarding the Quicksheet every Friday and Saturday night and do 1 mock on Saturday and 1 mock on Sunday. Where I feel stuck I would revisit my mindmap. I neva touch the actual reading again.

This takes as long as you like till the exam hits you.

Last words :

Using the mindmap is way more beneficial. It chops down the material to many digestible pieces. It makes you feel less tired when thinking about the amount that you need to revisit. And because you wrote the thing, you will not forget it. Last but not least, it is your bible when you forget something at work. After all, CFA is your knowledge to use not a badge. I often scan the whole mindmap once i pass, upload it to Onedrive or Dropbox, and it is mine forever.

P/s: I cannot share my mindmap, I use it for teaching but if you really want I can take photos of 1 reading so you can know what i am talking about

#27

Thx for the sharing . I will do in such a way.

#28

But as I am retake, I don’t know if I still have to go through the cfai textbook, words by words, or do the bb, and eoc directly?

#29

Just do it!

#30

Finquiz worked for me 2nd time around but I had read the full curriculum for my 1st attempt. If you never read the curriculum and failed you may want to read it this time around. But you better start early.

#31

I created my own notecards. I also did 10 practice exams & retook all of them a second time. You need a minimum of 80% the dsecond time around or you’re not ready to go.

#32

Wow, I am Vietnamese and that’s the similar method I used to pass 3 for 3. I came up with it myself, when I was overwhelmed with L1 curriculum. What a coincidence.

#33

Not sure hpw folks finish PM in 45 minutes. I scored >70 in every section in PM except 50-70 in ethics but it took me 150 minutes to go through the test and remaining 30 minutes to cross check few questions that I was not 100%. I found the PM to be much easier than mock exams. AM was an entirely different story, which I found to be very hard and could not finish 2 sub sections. Eventually passed level 3.

45 minutes or 75 minutes suggest one of the two things: You are ridiculously fast or you are rushing things.

#34

any more suggestions?

#35

  • Build flash cards

  • Answer essay with flow (include basis of every calculations, every formula etc to scrap up partial credits) and speed (to save time)

  • EOC is good for knowledge building

  • From end of March, Mock, past questions and online practice back to back

  • Use schweser mock and practice to peruse answers, but make sure answers more robust

#36

In the cfai textbook. I started to read the book 2. There is full of words in one page…some concept I didn’t jot it down on own note book before. So I don’t if I need to jot it down this time. Or I only have to make a more clear concept on the thgs I have already learnt ?

#37

Any suggestions ?

#38

Rather than risk reading the curriculum like novel, please use the study guide to pin what you are supposed to read from it.

If you have Schweser study notes or some other, I’d rather you study them and track the curriculum for further clarification where you are not satisfied.

Sorry this came a bit late.

#39

Round 1: Study (not read) Kaplan, make notes for each reading, solve EOC of CFAI + EOC KAPLAN + QB.

Round 2: Restudy KAPLAN, solve exercises again and make sure that notes are decent.

Round 3: In 12 days make a revision of notes + exercise s

Round 4: Mocks Mocks Mocks

Round 5: Final review of notes

3/3 passer with flying colours

#40

I failed L3 the first time band 9 and I read the entire CFAI material again (passed with flying colors the second time). Re-reading helped A LOT. You being band 5, you should re-read material whether it’s CFAI or Schweser. And resist the temptation to rush in the afternoon. That’s a deadly mistake.