I am preparing for CFA level I and would like to know your opinion about the importance of various topics. Such as ethics and FRA (Financial reporting & analysis) are most important and it is must for a candidate to score well in these two topics to clear the exam (that’s what I am told by various friends).
I want to know is it fine to give the importance of topics as per the weightage give by CFA Institute? I feel it would be better to know the important topics and start with those topics first. As per my understanding CFA institute rates the performance under three categories >70%, 50%-70% and <=50%. Anyone having above 70% in all topics is a champ (which i won’t dream of :P) and clears the exam right away. Please provide me some clarity about the following.
To pass level I one has to score above 70% in how many topics? Same way in how many topics one should score 50%-70%?
Is it mandatory to score more than 70% in any topic to be successful? Or it is just combination of performance (for example, it is possible to clear the exam even if one scores 50%-70% in ethics & FRA, quantitative analysis, but scored more than 70% in economics, portfolio management, equity, derivatives and less than 50% in fixed income & alternative investment)
What kind of study approach generally gives better results equal importance to all topics or preparing the topics as per the importance given to them by CFA Institute?