I recently registered to sit in on the Level 1 exam in June up here in Chicago. I’m happy I found this forum (a while back and have been a ninja reading posts etc…) and equally happy to be a part of it now. So of course I will have to ask the age old question which has probably been asked countless times. Is the CFAI material enough or is it recommended (by seasoned vets such as yourselves) to also use the Schweser material?
Use both. Read the material first and then review with Schweser.
The CFAI material is MORE than enough, i think that’s the reason why people purcahse the study guides to REDUCE the volume in the first place.
The real question should be, does Schweser covers sufficient material for you to pass the exam? And the answer is yes. (or at least it should be!)
^ No point to take the risk. Use both. Schweser dropped the ball with Trynor Black in 2007 L2.
Schweezie was plenty for L1 in my experience
Use Schwayze as your main material…its quicker and enough. Use CFAI when there is something you dont understand as it is likely to have a good explanation somewhere, also use the questions in the back of the CFAI books.
I used only Schweser for L1 and L2 (but that was before you were required to buy the curriculum) and both in L3.
I used Schweser as a suppliment, and the Schweser 3 day seminars as my call to arms, and the start of the sprint at the end of the marathon. The amount of time I spent studying comes out to $20,000-$30,000 in wages, so I felt no need to cheap out on the material.
Schweser dropped the ball again with Taylor Rule (Econ) and Pensions (FRA) in 2013 Level II. Having recently passed Level II, I’d suggest you study from Elan notes as your primary material and supplement it with summary and EOC questions of CFA curriculum.
Schweser can’t cover 100% of the exam. You take a risk for sure. It should be a complement at best if you’re not willing to take the risk.
Use Evernote and create a notecard for each LOS and take notes on the respective card. After your 1st pass thru using Schweser or another provider, you’ll notice some of your cards are blank - go and cover them using the CFAI books.
Also, do the end of chapter questions in CFAI texts and their mocks.