Prep for CFA Level One - Non-Finance Background

CFA Level I
#1

I have looked through the various threads, and there seems to be scattered bits here and there relating to a person with a non-finance related background preparing for the CFA level 1.

I was hoping to get advice from those who are in my position or close to it:

  • I have a degree in Criminology, and I took one introductory statistics class in university. I have also completed the Canadian Securities Course. Other than that, I have no background in finance.

What do you recommend for a study period and a study package? For example, the University of Toronto offers a prep course for the CFA level 1 but it is $4000, and I am not sure I need it. Any opinions?

#2

Similar boat. was a Sociology major. Have spent the last 8 years in retirement planning/investments/insurance. Have a CFP® but had no accounting/business/econ/statistics in college. Starting to study LV 1 now. Doing Kaplan.

#3

Registered nurse for the past 5yrs or so. Never did any course that covered a section on the curriculum. The closest courses that a took were Calculus I & II. Using Elan guides and so far so good I think.

#4

You don’t need any kind of finance degree to pass these exams, so that’s all fine.

I’m not trying to criticize, but I am curious why everyone here decided the CFA program was the way to go. We got a registered nurse, sociology major, and crimonology

#5

“I’m not trying to criticize”, those are the words of someone who is just about to criticize in his/her next sentence. Well, in my case I just found out about the world of finance and it turns out it’s right in line with my favorite subject, math (luv physics too). The reason why I became a registered nurse is a very long story–longer than the cfa curriculum. So let’s just say I found myself in it.

#6

I see. There’s nothing wrong with that, and I really wasn’t trying to criticize. People on this board jump to assumptions very quickly, so that’s why I used that wording.

So, is going through the CFA program a way to just learn about finance? or is it a way to land a job?

#7

military>CFA here…its a way for me to learn finance to be honest with you. i am taking my level 1 in december and have gone through majority of the quants in my undergraduate program at the moment, except for the tech analysis part, which i find fascinating. however, i have decided to start with the equities/fixed income section as I am genuinely interested in learning the jargon/terminology and eventually would like to use the information I obtain to manage my own portfolio. i would also like to use it to get into a brand name masters school, as you can tell my undergraduate isnt the most reputable (its a state school but not that well known)

#8

I think people get misled by the Financial in Chartered Financial Analyst. I have taken the Level I twice and am sitting for the Level II next month. Based on what I have learned, I think a backgroung in accounting helps the most, then econ, and then Quant.

Seriously corporate finance is the easiest section on the Level I and Level II… so don’t worry about the finance background.

#9

I currently am a Trust officer and I’m looking to increase my creditionals within the large bank i work for. Looking to getting into portfolio management in the future. I’ve been working with retirement planning/investments for the past 7 years. Not bad for a guy that never read a book in college and never took a business class.

#10

Both to learn about finance and to land a job.

#11

I didn’t really discover the world of finance until I was in my fourth year of university. Being in Criminology and in my fourth year, obviously it was impossible to switch to a business major.

I’m doing the CFA for both a career steeping stone and to learn an in-depth knowledge of finance. Obviously there are easier (and cheaper) courses out their, but it seems that the CFA is the gold standard for demonstrating a knowledge of finance.

#12

I didn’t really discover the world of finance until I was in my fourth year of university. Being in Criminology and in my fourth year, obviously it was impossible to switch to a business major.

I’m doing the CFA for both a career steeping stone and to learn an in-depth knowledge of finance. Obviously there are easier (and cheaper) courses out their, but it seems that the CFA is the gold standard for demonstrating a knowledge of finance.