Is it too late to start studying for CFA Level 1 (Dec 2011)?

Short backstory on myself. I am a CA (Chartered Accountant, Canada) who is interested in pursuing the CFA designation now. I understand that I need to commit atleast 250 hours between now and the exam date in Dec 2011. Hours wise that gives me roughly 13 hours a week to study. I’m also planning on taking the Stalla course being offered, which begins Jul 23/2011. I haven’t registered with the CFAi yet, but I am sitting in the middle between my choice of going for it and writing the Dec 2011 exam, or leaving it and writing the Jun 2012 exam instead. Your thoughts and comments?

Dude take it in Dec! More than enought time.

go for June 2013 brah.

First off, what is the harm in appearing now in Dec and reappearing in June if at all you don’t pass? You hardly loose anything except few bucks. Second, don’t interpret the number of hours literally. No of hours required are very subjective, and depends upon your capability to grasp the concept. That said, five months are more than enough to study for level 1 if you are planning to study using one of the preparatory materials; however, if you are planning to study using CFAI books, then it may be a little stretch, but I think you should be able to pull it through. Most importantly, being CA, you should not require as much time as a guys with no background requires, so just go for it!

I’m a CPA myself also and am going to start studying next week. We all could do it!!

People were asking this same question TWO months before the June 2011 exam! You have FIVE!

Thanks for the replies guys. I’ve decided to go ahead with this. I will admit my Finance knowledge is very weak, as I haven’t touched much of this stuff for atleast 5 years (from the last time I graduated from University). As an auditor you don’t get much into this stuff (and at the time you do, it’s usually on a very basic level). I plan on purchasing a schweser Essential package which looks like it consists of the study notes and a whole bunch of practice questions. Is there anything else you guys recommend to my approach? I was originally going to enroll in a Kaplan course offered in Toronto beginning in mid July (which runs on Saturday mornings), but after a bit fo research it looks like I can maybe use the home/self study approach, seeing how I have a business background and most of this stuff should be a re-fresher.

> the home/self study approach, seeing how I have a > business background and most of this stuff should > be a re-fresher. This will not all be a re-fresher just a heads up. Some of this is beyond the scope of your undergrad degree. I was an accounting ungrad as well and I found it helped a lot in FRA (the biggest section) so you have an advantage. However, topics will be discussed that you might not have seen before. Read the CFAI books, take notes in each of the sections, make flash cards of important concept/things you have dificulty remembering. Buy the schweser QBANK. Do 1000+ Questions. That is the best way to prepare IMO. Repetition. Remember this when you’re reading the CFA books and you should do well: The exams are like that one professor that said ‘anything in the book is fair game’ focuses on a few things in depth then asks questions you would only remember if you read the chapter. You’re going to learn those topics and they know that, so be prepared for little factoids. The QBank tries to throw those in, which is why I suggest doing a lot of problems from it.

wake2000 Wrote: ------------------------------------------------------- > go for June 2013 brah. +1

It’s not too late depens on how bad u want it. five months is still alot of time to the determined.Go for it!

Abandon hope, all ye who enter.



This is actually a great time to start level 1 provided you take it seriously and study a lot. Nothing else you studied prepares you for the CFA exam but it can help give you a solid base. Example: I passed the CFP exam and while the CFA exam was a different beast I had a solid footing in time value of money, portfolio management, and equities. I did not know enough then but at least I had a solid foundation.