Hi Guys, I have planned to take CFA level 1 dec 2010, I have no backround on financial. Please help me out how to start my preparation and path for passing it.I have already got Kaplan Schweser materials. any suggestion would be much helpful. - Josh
Hi Josh, Go through Schweser twice, than leave a month to do practice questions. Doing as many questions as you can is the key to pass level one.
Before signing up read the thread “you should all read this”, and figure out for yourself if you want such people to get a hold of you for life.
easy …get the biggest but plug u can find and wear it around for a week u going out for drinks, buttplug dinner with significant other buttplug sunday afternoon in the park BUTTPLUGG its always there …now mulitply that feeling by say 5 months out of the year for say 3 years so yah def go for it
Josh: Bad time to ask this as a newbie with people taking the test in two days. Think…
pimpineasy Wrote: ------------------------------------------------------- > easy …get the biggest but plug u can find and > wear it around for a week > u going out for drinks, buttplug > dinner with significant other buttplug > sunday afternoon in the park BUTTPLUGG > its always there > …now mulitply that feeling by say 5 > months out of the year for say 3 years > > so yah def go for it You mad, doggie? Sucks to be you playboy. 1 hour a day for a year or 2 hours a day for 6 months Doesn’t seem that bad to me.
Scrooge McBucks Wrote: ------------------------------------------------------- > pimpineasy Wrote: > -------------------------------------------------- > ----- > > easy …get the biggest but plug u can find and > > wear it around for a week > > u going out for drinks, buttplug > > dinner with significant other buttplug > > sunday afternoon in the park BUTTPLUGG > > its always there > > …now mulitply that feeling by say 5 > > months out of the year for say 3 years > > > > so yah def go for it > > > You mad, doggie? Sucks to be you playboy. > > 1 hour a day for a year or 2 hours a day for 6 > months > > Doesn’t seem that bad to me. …meh
Read the CFAI texts. They are much more thorough than Schweser, and would be better for someone with no finance background. Good luck.
Why do you want to earn your charter?
Besides the b-plug that is
Scrooge McBucks Wrote: ------------------------------------------------------- > pimpineasy Wrote: > -------------------------------------------------- > ----- > > easy …get the biggest but plug u can find and > > wear it around for a week > > u going out for drinks, buttplug > > dinner with significant other buttplug > > sunday afternoon in the park BUTTPLUGG > > its always there > > …now mulitply that feeling by say 5 > > months out of the year for say 3 years > > > > so yah def go for it > > > You mad, doggie? Sucks to be you playboy. > > 1 hour a day for a year or 2 hours a day for 6 > months > > Doesn’t seem that bad to me. Lol…spoken like someone who hasn’t done it. OP, you should honestly evaluate what you’re looking for before you dive into this…speaking from my own experience, had I know what I was getting into, I would never have entered the program. I feel like the several hundred hours I’ve studied over the years could have been better used in other pursuits (networking, staying later at work, sleeping), but everyone has to evaluate their own personal situation. Just my $.02.
skillionaire Wrote: ------------------------------------------------------- > Scrooge McBucks Wrote: > -------------------------------------------------- > ----- > > pimpineasy Wrote: > > > -------------------------------------------------- > > > ----- > > > easy …get the biggest but plug u can find > and > > > wear it around for a week > > > u going out for drinks, buttplug > > > dinner with significant other buttplug > > > sunday afternoon in the park BUTTPLUGG > > > its always there > > > …now mulitply that feeling by say > 5 > > > months out of the year for say 3 years > > > > > > so yah def go for it > > > > > > You mad, doggie? Sucks to be you playboy. > > > > 1 hour a day for a year or 2 hours a day for 6 > > months > > > > Doesn’t seem that bad to me. > > > Lol…spoken like someone who hasn’t done > it. > > OP, you should honestly evaluate what you’re > looking for before you dive into > this…speaking from my own experience, had > I know what I was getting into, I would never have > entered the program. > > I feel like the several hundred hours I’ve studied > over the years could have been better used in > other pursuits (networking, staying later at work, > sleeping), but everyone has to evaluate their own > personal situation. > > Just my $.02. its funny but my finance prof tried to warn me but jus ended up piquing my interest more than anything else…OP what is it that you wish to d in Finance and why do u feel that need a CFA charter?
HUGE time commitment. Think about if you’re ready to give up most of the things you value over the next two years. The career benefit is marginal at best to someone with little background. The personal benefit can be immense if you have little finance background, if you’re the type of person that puts a high premium on learning throughout the experience (both about yourself and the material). I can’t possibly overstate the amount of work / sacrifice this takes with no real background (I had no finance background). Really think hard about giving up most of the things you value with no significant / likely monetary payoff. If you do decide to go for it, shoot me an email: q.benjamin@gmail.com
If you have no financial background make sure you really want to do this. You are going to have to study for at LEAST 6 months for 2 hours a day (and even then you still might not pass). Even if you do pass Level I, there is certainly no guarantee that you are going to get the job of your dreams. You are going to have to pass 2 more difficult tests next year after that… Pretty sure its something like 7% of people pass all 3 on the first try or something like that, but that number probably double/triple counts people who retake. Point is, most people fail and you have no financial background so you will probably fail at least once. If you can’t handle that, reconsider. It’s certainly not impossible for you to pass all 3 first try if you put in the work, but few people do. good luck
Black Swan Wrote: ------------------------------------------------------- > The career benefit is marginal at > best to someone with little background. I can’t possibly overstate the amount > of work / sacrifice this takes with no real > background (I had no finance background). I have to disagree with the the first part. I had no finance background (econ MA) and got a buy side job in real estate after finishing level II in 2007. I definitely think CFA played a big part in me getting the job – a couple people here tried the program and didn’t finish so I think they respected the learning/commitment required. Granted, Econ has some transferrability, maybe more so than say IT. BS is absolutely right on the commitment part though for someone with no background. i highly recommend going through the CFAI texts. You’ll learn A LOT as you prepare for the test.
tmjones2 Wrote: ------------------------------------------------------- > If you have no financial background make sure you > really want to do this. You are going to have to > study for at LEAST 6 months for 2 hours a day (and > even then you still might not pass). Even if you > do pass Level I, there is certainly no guarantee > that you are going to get the job of your dreams. > You are going to have to pass 2 more difficult > tests next year after that… Pretty sure its > something like 7% of people pass all 3 on the > first try or something like that, but that number > probably double/triple counts people who retake. > Point is, most people fail and you have no > financial background so you will probably fail at > least once. If you can’t handle that, reconsider. > It’s certainly not impossible for you to pass all > 3 first try if you put in the work, but few people > do. > > good luck Also, since this is the second time the whole 2 hours a day thing has come up (and it appears both posters haven’t sat yet), I’m going to go ahead and address it. It flat out doesn’t work that way. Due to the breadth and specificity of the material you’ll need to recall, studies will be heavily concentrated towards the final few months. 2-4 hours a day is probably correct for weekdays, but expect to study 6-12 hours a day on weekends, depending on how much of a machine you are at long study sessions. jbaldyga, I would consider an econ degree a background in finance, but that’s just me.
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