Hey there, I’m thinking of starting off with the CFA L1 (for June 09) but had two questions: 1. Although I have experience with finance and accounting, I have NO knowledge of stats or probabilites. Is there a good textbook or online course or something you can recommend that will bring me up to speed enough with stats so that I can handle the quant portions of CFA L1? 2. On the L1 test, do you need to have a minimum passing score for the material in each book, or just a passing grade overall? Meaning, do you have to get at least a 70% on the ethics questions, 70% on the fsa questions, etc - or just get 70% overall on the exam? Thanks for your time, I appreciate it!
brafique Wrote: ------------------------------------------------------- > Hey there, I’m thinking of starting off with the > CFA L1 (for June 09) but had two questions: > > 1. Although I have experience with finance and > accounting, I have NO knowledge of stats or > probabilites. Is there a good textbook or online > course or something you can recommend that will > bring me up to speed enough with stats so that I > can handle the quant portions of CFA L1? The CFA texts cover these in details, I would think for purposes of exam they are enough. > 2. On the L1 test, do you need to have a minimum > passing score for the material in each book, or > just a passing grade overall? Meaning, do you have > to get at least a 70% on the ethics questions, 70% > on the fsa questions, etc - or just get 70% > overall on the exam? Yes, you need to pass all with >70%. However, I have seen some results with some two sections between 50% and 70%. JDV, one of the smartest men on AF says if you are between the passing line, ethics and FSA can determine your fate. I think thats accurate. > Thanks for your time, I appreciate it!
^ From what I’ve heard, the actual CFA textbook is very difficult to understand if you’re new to the material (as I would be)…plus I don’t think there’s any way for me to get the Quant textbook without me shelling out a ton of money on ebay for all of the books together…correct me if I’m wrong though!
The CFA texts are free, they come along with the exam registration. As you say you have experience in accounting and finance, none of the quants will be pretty new. They will require understanding and a hardwork. Good luck. brafique Wrote: ------------------------------------------------------- > ^ From what I’ve heard, the actual CFA textbook is > very difficult to understand if you’re new to the > material (as I would be)…plus I don’t think > there’s any way for me to get the Quant textbook > without me shelling out a ton of money on ebay for > all of the books together…correct me if I’m > wrong though!
well, technically they are not free because they cost $220.