CFA Level I is more about retaining the information. It requires specific attitude towards education and learning which develops in the first Level and act as a prerequisite to Level II & Level III. Following are some tips which I read somewhere and saved for some later use. This is the best platform for me to share them with you. Tips for remembering and retaining a great deal of information:
- Use mnemonic devices,
- Like in Ethics Standard No. 1 Professionalism the next four sub parts could be remembered by making a mnemonic device KIMM.
- Review information frequently. Don’t review information you’ve already learned pat. Your review time is best spent, drudging through the hard stuff.
- Understand what you’re reading rather than trying to memorize information without comprehending it. If you read a chapter and a quick review of the key points will solidify the information, take the time to review the key points, else your recall will be poor. If you can not digest a concept, get help. Ask someone who is also taking the exam.
- Visualize the formula in your head. Do not move on in your readings until you can visualize the formula your head and write it paper.
The Spacing Effect states that one is more likely to remember a set of items when rehearsal is spaced over an extended period of time. This means that you should review the formulas often. Photocopy the formulas in the back of your books and keep them in your bag or maintain some formula sheet to review it often before the practice tests or the exam.