I just received my CFAI material, in addition, to looking at the study sessions on Schweser. Some of the stuff overlaps with the 7, but from I’ve been told, L1 is like taking 10 graduate level exams wrapped into one. I thought the 7 was easy, but L1 will be much more difficult…
there is no comparison in difficulty. Level 1 is infinitly harder.
No, i dont mean the difficulty. What I’m wondering is, if i study exclusively for the 7 and wait until Feb 1 to resume studying for level 1, are there certain parts of the CFA 1 material that will simply be review because I would have seen them on the series 7 already? Or should I assume there is no overlap and concurrently study for both?
not really. Basic options and equity, and maybe a little bit of fixed income. But not enough material to make a dent, really.
Just a quick point TPain. If you are thinking about taking time off to study for your level I, make sure you pass!! My buddy did this and failed. Now he is in a job he hates and is interviewing and has a tough time explaining why there is this big gap in his CV. Initially he planned on saying “I took time off to study for Level I” but since he failed and most people who pass it do it while working, saying that makes him look stupid or lazy (probably both). The point is if you don’t pass it on the first crack (and many don’t) you could stunt your opportunities worse than if you hadn’t written it at all.
Finally done with Series 7 today. Thanks for the advice. I didn’t sacrifice the football games nor spent too much on it. I put in totally about 24 hours studying. Series 7 is very different from CFA test. Personally I like CFA test, I learnt more from that. As to Series 7, too many rules and regulations to remember. I don’t remember any after the test. Kind of wasting time. Some basic concepts are overlapped but not that much. I think it is easier for someone who pass level 1 and then study for series 7. But Series 7 not benefit a lot to level one. My 2 cents.