I feel f’d because I haven’t finished all of the readings yet. Has everyone already gone through their first review already? What’s the minimal amount of time you guys think is needed to review if you’ve already read Schweser once and done all of the EOC questions in CFAI?
I only started last week, now end of the second book schewser notes. by the end of second book, i have already forgot ALL of quant, great. dont stress just doe the best you can.
i havent gone through everything yet, missing derivates, alt investments, portfolio mgt. my theory is go through everything and do eoc’s after each chapter at the same time. then do mock exam with 4 weeks remaining, using your forumla sheets. go back over the stuff where you did badly, then commit formulas to memory. see if you get a good mark using formula sheet (dont have explations on how to use formulas - you should know how to use them!) my theory is that the passmark on an average difficulty exam is 67%. I think I will know 50% of the exam stone cold, 20% will be 50/50 and 30% I will have no clue. So my expected mark is 0.5*100% + 0.2*50% + 0.33*30% (i still expect to get 1/3 or the answers right in the no clue section simply by guessing) = 69.9% - which is very close to a pass. DONT give up - do as much as you can on the heavy weight stuff and at least read over everything else. Good Luck!
Gone through everything once. Forgot most of it. Going through it again. Currently almost halfway done second read-through +EOCs again (which is faster). Then onto mocks and being humbled!
I am in the process of going through the readings for a second time (Schweser). After the second reading and another week of memorizing/studying, I will begin EOC questions. (Hopefully May 1st) Can’t answer questions until you know the material, right? I am a retaker and I am taking a different approach this time around. The first time I spent the majority of my time doing questions instead of ‘learning’ the material. This time around I am doing more reading/studying vs. questions. Hopefully it all works out.
Retaker; I’ll be done with the cfai texts by the end of April. Did all the EOC questions in progress, but will go back and start repeating for my final month review. I started studying every day on march 1; but to be fair I’m unemployed so I’ve been able to study 3 hrs daily. Did the texts out of order as well; saved equity & FSA till the end (my hardest subjects). Those will both be fresh in my mind. Happy I spent the time learning from the Cfai texts this time; I actually feel like I know the subject matter this time around. First time I did the Schwesser + qbank (a good 130 hrs if work) and felt totally unprepared when taking the test.
60% of way through 2nd Pass (doing CFAI EOC questions). Marking the ones I got wrong for a quick 3rd pass at the end of the month. Taking two live mocks - May 7th and May 21st. Along with 3 Schweser tests and the downloadable CFA Mock they give you, that’s 6 practice tests. Hopefully my June 4th I will be a ninja. (2nd time taker here).
@ Cgeorgan - Do you really think that reading the CFA text made a difference? I didn’t read the text or do the EOC questions the first time around which was a big mistake. I think schweser does a good job of coverage. When I am doing the EOC questions this time, if I see something that I don’t recognize, I will refer to the CFAI text.
@ beingthatguy - It’s like night and day. I took a friend’s advice on L1 & L2 (he had passed all 3 exams using Schwesser) and tried to do the same, though he did it 5 years ago. I did fine for L1, but I walked into L2 and got blindsided. If you had tested me on what was in Schwesser, I would have certainly passed - that is, it wasn’t for lack of effort. L2 is the weed-out test. While I can only speak for my own experience, I have found the CFA texts to be absolutely invaluable so far in actually learning the material. I still have my old Schwesser books, and I’ll probably blow through those quickly for formula review. However, nothing (IMHO) beats reading the full CFA texts and learning the material.
Unfortunately, I work full time and I don’t think that I could finish all the CFA text. In the end, I think the best way to test yourself is doing the EOC questions and examples throughout each chapter. If I remember correctly, the majority of the questions from level 1 were similar to the questions presented throughout the text. Best of luck!!!