Thanks in advance for any insightful opinions. I am looking at taking L1 in June 2011. I am a CPA at a Big 4 audit firm, and because of the spring demands of my job, I would not really be able to study until mid-April. However, because of some plans, I would have all day, every day, to study for L1 from mid-April until June 4/5. With a budget of 8 hrs per weekday and maybe 4 hours total on the weekends, I would roughly hit 250 hours of study. For some background, I am a strong test-taker (summa cum laude state school grad in accounting, 760 GMAT, one of the top CPA exams scores in the state) and have a very diligent study routine down. I have familiarity with accounting, economics, some finance and stats, but only professionally in accounting. With that said, I have a concern. Would 5-6 weeks, even if studying all day every day, be too concentrated a period of time? That is, given that your mind can only meaningfully absorb so much information and new concepts in one day, would that be too short a period to learn everything to a passable point?
I think so, if you stay committed to full time for the 5-6 weeks. The shorter the timeframe, the more it will depend on your talent and ability.
It’s enough time for most reasonably intelligent people.
From what you have said, it sounds possible. If you pick things up quickly, and already have familiarity with some of the material you should be able to do it…as long as you stick to the 8 hours a day…anything less will make it exceedingly difficult. Best of luck
Yes definitely possible, CFA level I doesnt have any difficult topics at all. Some are time consuming however, so make sure you have a strategy, for example, make sure you nail areas of the test that are worth the most FRA 20% Ethics 15% and Equity + Fixed Income 25%, given your short time frame I might not even get into a detailed study of derivatives or alternative investments, I would just pick up a review book and learn whats in there. Assuming you keep your job for the foreseeable future, you are toast for level II though.
no.
God, I wish i had that much time, my last semester just ended 2 weeks ago and I’ve been full-time studying since then. I need just one more week.
yo gomba, you trying to brag kid? of course you will pass L1. you can do it in a month since you have the accounting background.
Definitely not trying to “brag”, I was trying to provide as much detailed, relevant information as I could to allow you all to provide a truly insightful opinion. Thank you to those who wrote their thoughts. I genuinely feel more able to do it with all of the “yes” responses. However, I still have some concerns that I won’t be able to dig into the less important, newer (for me) areas with enough effort and sanity left to learn enough to pass. But I’m leaning towards yes if my schedule allows!
Level 1 yes. Level 2, not a chance…L3, i will let you know
where u at gomba? what firm?
I would say no. It’s not so much about intelligence as it is about the volume. All CFA test takers at least have a bachelors of some sort if not B Comm. and still a vast majority fail it. Diligence and intelligence to pass it are a given but beyond that one does really need enough time. But you never know…if this is your option may as ell give it a go?