So… I’ve decided to take a big step and enroll in the CFA program, but I’d appreciate a little advice from those already studying. I’m trying to figure out if I should do June or December. I have all the time needed (working very much part time) between now and June, but the amount of material is daunting. Is this a reasonable amount of study time? For background, I’m working in retail financial services now and have a Series 7/63 with a liberal arts background otherwise. I know this isn’t the typical background for a CFA candidate, but I’m really trying to take the next step in my career. Any and all suggestions welcome-
I think you will be better off in the long-run by taking the exam this June which is still very doable. You will get your results in July which will hopefully be a pass followed by a much-needed 5-month break until you start studying for Level II next January. Waiting to take the December exam will give you very little break between Level I and Level II. If for some reason you do fail the June exam you could always take it again in December which could set you up to take 3 CFA exams in a one-year period if you pass the December exam and take the Level II exam the following June. On a side note, I would be curious what the Level II pass rate is for candidates who passed the December Level I exam. The combination of starting your studies in late January and a very short break between levels cannot be good for the pass rate.
You have four months which should be easily be more than enough time if you study properly. Remember to spend most time on the sections which carry the greatest weight. I literally did not read anything on Alternative Investments and failed that section but still managed to pass the exam. I only studied from the Schweser notes (apart from ethics) and did not do any end of chapter questions, in either the Schweser books or the CFA curriculum books. I had thought about doing them, but when I started I found them to be very easy and thought it would be better to just cover the material properly. From the results on the board, it seems if you get >70 on the big sections (Quantitative, Ethics and FSA) and >50 on the rest you will very likely pass. Good luck on your exam! Definitely take it in Jun. December is way overkill in my opinion.
Definately June…! I started studying for the June 10 Level 1 exam in Mid February while working full time. I did have a finance background but your working hours would make up for that… I would suggest getting the scheweser note… which are more that enough for Level 1 except for ethics… and CERTAINLY do the end of chapter quesions from the CFA Books (VERY important). Practice mock papers and the CFA mock exam. Good Luck with your preparation!