Hi Guys, Going thru AF i realised you guys are the most active and exprienced members on the forum, would you mind guiding me through this situation- 1) Two attempts at L1 unsuccessful-First attempt all the sections were under 50%. Second attempt-Ethics,Quant and Portfoli Mgmt under51-70%. 2) Didn’t used CFAI text in both attempts-used Schweser. So, do you think i will able to pass june 08 exams if i include CFAI text or should i just go for Dec 08 exam. or worst of all forget about CFA Entirely(maybe its not my cup of tea)I have bachelors in finance. All suggestions are welcome. Thanks for your time.
I don’t think I have anymore expertise at answering this question than most other members of AF. You certainly need to try something different next time. What else have you tried aside from reading Schweser? For example, have you tried a review class?
I tried schweser review class, but that class was so not helpful as you attend seminars after work & then class is completely taught from workbook containing slides, which makes it so reduntant…
Most individuals succeed (in anything really) by putting in lots of time and learning from their mistakes. Just as Joey mentioned, if studying with Schweser did not work for 2 years, then you need to change something about your study plan. There are a number of things you can do to change your techniques. Any of the following might help if you have not already tried them: 1. Take your own notes. 2. Create your own flash cards and review them throughout your study. 3. Taking a review class. 4. Change to Stalla. 5. Get into a study group with others in your area. 6. Get the Schweser videos. 7. Make it a goal to answer all of the questions in the qbank. 8. Answer 15-30 questions on CFA stuff every day (the qbank is really helpful for this). 9. Answer all of the CFAI book questions. 10. Take as many practice tests as you can in a realistic setting (3hours + break then 3 more hours) 11. Have someone quiz you with your flashcards daily. 12. Create your own quicksheet on topics that you think you need to review. 13. Take your books to work and study on your lunch breaks. 14. Take the John Harris accounting class. 15. Try teaching what you know to someone else so they understand the concept
Thanks wanderingcfa and joey…
Wow - that’s a big plan! Personally, I’d just use the qbank every day. If you are getting > 80% on that (without using your notes!) then you understand the topic and will pass the exam.
Amar1980, others already gave you great suggestions. I think it might help to identify the problem. Are you having difficulty understanding, retaining general concepts or specific details that are tested? As I’m studying for Level II, I try to break my studies to 3 stages: understanding, retaining general concepts, retaining specific details because on the first read-through I find it difficult to retain even general concepts because of the huge amount of information. That’s why fist I try to understand everything as I read and solve end-of-chapter problems to make sure I understand the material. Then, after I’m done reading all 18 sessions, I start working on retention. I find Secret Sauce a great tool for reviewing general concepts and their relationships with each other. As chrismaths said Q-bank is a great resource for reviewing thousands of very specific details that get tested. Good luck on the exam!
Thanks Maratikus and Chrismaths, appreciate your help on this.