Just had a thought. And I don’t mean this to be a shortcut, but rather a “theory.” I don’t want to try this out, but wonder if there is any validity to it: Since reading the substantive CFAI text, Notes, etc. will probably be forgotten shortly after reading, what if a candidate memorized the Schweser “Critical Concepts for Exam Success” cheat sheet. It’s 6 pages of formulas and definitions from each section, although looks like it’s lacking econ graphs. But could one pass if they memorized the formulas, then, did 4000+ practice questions and 10+ practice exams, and went over each answer? I’m playing it safe and going through the readings, but just had this thought. Thanks!
I think it’s a bad idea. Formulas are only reflections of concepts. It’s hard to understand concepts only from definitions and formulas. I’d suggest trying to understand all the concepts and practicing a lot. Good luck!
Thanks M. The bottom line, got to put in the elbow grease, period.
Yep - terrible idea. You have to get the concepts.
BosyBillups, I happen to think it is a great idea!!! And a one that can be applied to other fields of endeavor - e.g., instead of taking years to get a university degree why not get the required books, copy down the formulas onto a cheat sheet and then memorize the cheat sheet? Definitely do let us know how it works out for you!
FourCastles, actually for a university degree, it isn’t that bad of an idea, is it? A university degree? Do students “really” even have to study for a BA these days?
I don’t think it’s that bad of an idea. Reading the answer key is already enough reading AND its much more effective reading than the notes. However, I wouldn’t just use the formula sheet. I would go with something with a little more depth, like Secret Sauce. Remember you are not being tested on how much you read, but if you know the concepts or not!
Bosy - I agree that any clown can show up and grab a degree. But, depending on the field and your GPA… not everyone can get the same degree and not all degrees are created equal. Personally think the CFA curriculum is much easier than my undergrad coursework.