L1 Study Plan

I would like to know if my study plan is among many others. Reading the CFA text books averaging two books per month (started in the beginning of this month with ethics and quan then to the econ book by next week) and finishing the last book (port mgmt)by the end of april. Then using the whole month of May to study the Schweser notes, followed by re-reading the ethics part of book 1 the week before the exam alot with reviewing in any weak areas. I heard from a reliable source (a level 2 candidate) that I’m wasting my time by trying to read all of the text books and I should focus on just the LOS from the text books and Schweser’s notes for the next 5 months. Does anyone agree or disagree? I would appreciate your comments…aslo if anyone or goup of candidates are in the Wilmington, DE area who want to form, or already have a weekend study group I’d be willing join.

I am taking the exam in June and I cannot even imagine reading all of the CFAI texts. It really just depends on your background I think. I plan on using the Stalla books and then using CFAI texts on whichever topics I feel deficient in. I’ll test myself after each section with the CFAI question sets. Ideally, I’ll be done covering new material by the end of April which would leave me May to do practice tests, review, and solidify formula memorization. I think an important part of the process is doing lots of practice questions and practice tests. There’s a difference between knowing the information and being able to quickly and efficiently get your way through the questions. Then again, I stress that I have not taken the test yet so probably others would be of better help. Good luck! Cheers, Erin

If you do anything in May, it should be practice tests…the more problems you do, the better off you’ll be.

I sat L1 in dec. Strong feeling I didn’t pass (but that’s for another day), but despite negative attitude to the test I wrote I’d still go along with the following… …again, it depends what your background is, but even with little finance background I’d recommend using Schweser as first port of call for all topics and referring to CFAI books as necessary to fill the gaps. Reading all the books seems ott. I thought there was enough in the Schweser books, the only thing is you need to know what stuff inside out and do practice questions continuously. May should be for Questions, review weak areas, and then more questions. Can’t help thinking that working off the entire CFAI texts would be an inefficient use of time. My 2c. Good luck!

Thanks for the advice

I just got my books (CFAI material) and my Schweser materials in the mail yesterday. I know they are pounding the LOS in our heads and that we need to focus on that. I agree that we can’t read ALL of the Schweser study notes and ALL of the CFAI material. I finished a study session today in the Schweser notes and then I went through and highlighted the main sections in the CFAI material and will read those sections that are in reference to the study session LOS. Is this a good idea? This is a way to read ALL of the Schweser study notes and supplement with the CFAI sections in regards to the LOS, WITHOUT having to read all of CFAI…