Request: Information regarding best preparatory method for CFA Level 1 June 2016 Exam - Help Needed Please

CFA General
#1

Good Day,

First off, this is my first post, so I apologize if this is the wrong place to post this.

My name is Matt and I am a level 1 candidate! I have registered for the June 2016 exam. I am 30, have been in the workforce for a while, but have decided to upgrade my education and switch careers. Currently I am in my second year of Economics with a minor in Finance.

I have started studying for the level one since the beginning of January using the Shweser Notes exclusively. With that said I thought having Jan, Feb, Mar and April for studying and May for mock exams would be enough…but I am finding out now, that it is definitely not!

Here was my plan:

January - April: Read Schweser Notes 1-5 & do end of CFAI EOC questions.

May: 7 Mock Exams

June: Breathe, Pass Exam, go have a beer…

Here is reality:

January: Quant…High scores on Schweser EOC questions. *I haven’t done any CFAI EOC questions.

February: FRA…3 more readings left…it’s literally killing me…skipped all EOC questions, did very little schweser blue box questions. *I haven’t done any CFAI EOC questions.

March-April: I have the rest left…3 more schweser books.

May: Mocks…!!!

***I believe my expectations have diluted themselves because although I knew it would be demanding, I didn’t know it would be so consuming. On top of that I have midterms at the moment (remember I am in school)…also I have regular class work, assignments, essays, modules, readings, etc.

I am asking for some sort of idea and or plan that will help me get through this because I am honestly thinking of dropping it until December (I know I won’t get the money back…). I don’t know if it’s do-able at all.

What are your thoughts? I appreciate any feedback and/or suggestions.

Thank you,

Matt

#2

So you’re in undergrad right now? Are you working currently?

#3

No, not working anymore. Finishing my undergrad fulltime. Any tips to better my time management would be very appreciated. Thanks.

#4

Move on from FRA. It sounds like you hit a bump and are stuck. FRA blows. Move on and come back to it and try to gain a little traction. The rest of the material should come a little easier and you might even see some overlap with the classes you’re currently taking. I realize it’s a highly weighted section but right now you don’t have time in your favor to plod through it. If you hit it again with better momentum you should be able to move through it more efficiently. This goes for any time you get stuck during the curriculum. Just move on and come back.

Just to point out the obvious, undergrad is a lot less demanding than a full-time job that a lot of people are faced with performing at in addition to taking the exams. How many hours do you really need to devote to school work and classes? 15 hours tops? You have ample time left to hit the CFA books. Sorry to be blunt but there are people working 50-60 hour a week jobs that walk uphill both ways to get there and studying for this too.

#5

Hi I have completed the FRM (both levels). Now I am planning for CFA. Can you please help me, are schweser materials enough for the CFA? What are the fee structure? Do we have a facility to shift the exam in case I am unable to appear for which I have registered?

many thanks.

#6

Thanks ltj,

I suppose I am in a bump and am beating myself up. I have ample time, it’s just personal issues that I need to deal with that’s all.

I already have the qbank from schweser and the 2 mock exam booklets…any specific order I should do practice questions in?

ie:

  1. EOC CFAI questions

  2. CFAI online test bank chapter specific

  3. Shweser test bank

  4. Schweser mocks

  5. CFAI mocks

Any suggestions are always welcomed. Thanks again.