Quick Level I tips for 1st timers

As I’m getting ready for Level II, I can’t help but think about how scared I was before Level I and how much I wished someone would tell me a bit about what it would be like and what to do. Hence, I wanted to take the time to share some tips (aside from the usual) for those taking the exam for the first time. This is not the GMAT or a CPA exam. The Level I exam tests your understanding of 1) material assigned 2) relationships between variables and their impact given some change in assumptions or data input. Keep this in mind as you review. - Do tons of problems! With only a couple of weeks left, your time should be focused on doing tons of sample problems and reviewing weak areas that will most likely be tested. - FSA and Ethics were pivotal! Know those topics well as they are most likely the toughest and often trickiest problems you will encounter. The rest of the material will likely be straight forward as long as you read all the materials and did the problems. - Do practice exams - Keep track of time! This has two purposes: time management and getting used to sitting and focusing for a 6 hr exam. In the actual exam there will be questions that will be easy and others that are hard. So keep that in mind as you practice your time management. It was more useful for me to keep track of time every 10 or 20 questions. Don’t be scared if half way through FSA you feel you’re behind, it’s ok, because as mentioned, it’s the toughest part. It pays off to devote a couple of extra SECONDS (not minutes!) to get them right. If not, check your time, guess if you must. - Review Ethics days before the exam! Despite having memorized the code of standards, it was very useful to review Ethics a few days before. In my case, I even reviewed GIPS the night before for about 30 mins. and it paid off because there were several questions that I would have missed otherwise. - Relax during the break During the break eat a good meal and relax. Thinking too much about the exam and reviewing will have a marginal benefit. I think it’s best to eat a light meal that will get you through the day. I prefer a good salad. I try to avoid too much pasta and a lot of meat because it’s harder to digest and will make it easier for you to get tired during the exam as some of the blood from the brain is used for digestion. This is usually the reason people feel groggy after they eat. - Stay positive If you read the material and you did the problems you should be fine. If not, then go in striving to do your best. You confidence will be very important - be sure to bring it with you! Of course, there are the obvious things to do: bring extra pencils, know how to get to your exam center, sleep well the night before, etc… If I think of something else in the next couple of weeks, I’ll be sure to add it. Best of luck to all!

great, thanks!

Ahhh and of course… Take the CFA practice exams!!

cheers

and the following 1) Don’t write on your exam ticket 2) Make sure your ID has not expired 3) Make sure you check out the location of the test center before hand 4) Bring extra calculator batteries 5) Don’t write on your exam ticket…(past violators had their exam voided and a 2 year suspension).

thanks, i know i can use all the help i can get

Another free tip from a Level III’er… Bring a sweatshirt. Although the test is in June, which is supposedly summer, managers of American conference centers think the ideal indoor temperature is about 62 degrees.

what’s FSA?

also, when you suggested to do problems, do you also mean the questions behind each of the readings in the CFAI texts? some of those problems are not MCQs.

Financial Statement Analysis.

yep thanks

Thanks Red and Jason !!

jasonindc Wrote: ------------------------------------------------------- > and the following > > 1) Don’t write on your exam ticket > > 2) Make sure your ID has not expired > > 3) Make sure you check out the location of the > test center before hand > > 4) Bring extra calculator batteries > > 5) Don’t write on your exam ticket…(past > violators had their exam voided and a 2 year > suspension). OMG!!! I COMPLETELY FORGOT THAT I MY DRIVERS LICENSE JUST EXPIRED!!! I NEED TO GET CRACKIN ON THAT. THERE IS NO WAY I WOULD HAVE REMEMBERED WITHOUT THIS. THANK YOU SO MUCH, YOU DONT KNOW HOW MUCH YOU SAVED ME. THIS MESSAGEBOARD HAS JUST PAID ITS WEIGHT IN GOLD TO ME.

^^^Does a website weigh anything??

On way back to 1000 an ounce. NOTICE: This is an opinion.

SkipE99 Wrote: ------------------------------------------------------- > jasonindc Wrote: > -------------------------------------------------- > ----- > > and the following > > > > 1) Don’t write on your exam ticket > > > > 2) Make sure your ID has not expired > > > > 3) Make sure you check out the location of the > > test center before hand > > > > 4) Bring extra calculator batteries > > > > 5) Don’t write on your exam ticket…(past > > violators had their exam voided and a 2 year > > suspension). > > > OMG!!! > > > I COMPLETELY FORGOT THAT I MY DRIVERS LICENSE JUST > EXPIRED!!! I NEED TO GET CRACKIN ON THAT. THERE IS > NO WAY I WOULD HAVE REMEMBERED WITHOUT THIS. THANK > YOU SO MUCH, YOU DONT KNOW HOW MUCH YOU SAVED ME. > THIS MESSAGEBOARD HAS JUST PAID ITS WEIGHT IN GOLD > TO ME. Glad someone was saved! I recall a funny thread last Dec about a guy who for his birthday, got an extra 6 months of study time as a present. I’m extra paranoid about losing my license inbetween now and then.

Hi , The info is really v helpful . Am enrolled for CFA 1 dec’08 , Have not even started . Pl tell me the right way to get thru : schweser notes or books & some other tips which you feel is useful . rgds rajjhat

this was a very helpful straight forward advice thanks

Red Wrote: ------------------------------------------------------- > As I’m getting ready for Level II, I can’t help > but think about how scared I was before Level I > and how much I wished someone would tell me a bit > about what it would be like and what to do. Hence, > I wanted to take the time to share some tips > (aside from the usual) for those taking the exam > for the first time. > > This is not the GMAT or a CPA exam. The Level I > exam tests your understanding of 1) material > assigned 2) relationships between variables and > their impact given some change in assumptions or > data input. Keep this in mind as you review. > > - Do tons of problems! > With only a couple of weeks left, your time should > be focused on doing tons of sample problems and > reviewing weak areas that will most likely be > tested. > > - FSA and Ethics were pivotal! > Know those topics well as they are most likely the > toughest and often trickiest problems you will > encounter. The rest of the material will likely be > straight forward as long as you read all the > materials and did the problems. > > - Do practice exams - Keep track of time! > This has two purposes: time management and getting > used to sitting and focusing for a 6 hr exam. In > the actual exam there will be questions that will > be easy and others that are hard. So keep that in > mind as you practice your time management. It was > more useful for me to keep track of time every 10 > or 20 questions. Don’t be scared if half way > through FSA you feel you’re behind, it’s ok, > because as mentioned, it’s the toughest part. It > pays off to devote a couple of extra SECONDS (not > minutes!) to get them right. If not, check your > time, guess if you must. > > - Review Ethics days before the exam! > Despite having memorized the code of standards, it > was very useful to review Ethics a few days > before. In my case, I even reviewed GIPS the night > before for about 30 mins. and it paid off because > there were several questions that I would have > missed otherwise. > > - Relax during the break > During the break eat a good meal and relax. > Thinking too much about the exam and reviewing > will have a marginal benefit. I think it’s best to > eat a light meal that will get you through the > day. I prefer a good salad. I try to avoid too > much pasta and a lot of meat because it’s harder > to digest and will make it easier for you to get > tired during the exam as some of the blood from > the brain is used for digestion. This is usually > the reason people feel groggy after they eat. > > - Stay positive > If you read the material and you did the problems > you should be fine. If not, then go in striving to > do your best. You confidence will be very > important - be sure to bring it with you! > > Of course, there are the obvious things to do: > bring extra pencils, know how to get to your exam > center, sleep well the night before, etc… > > If I think of something else in the next couple of > weeks, I’ll be sure to add it. > > Best of luck to all! thanks!

Real thanks guys!