Using current material for CFA-1 June 2012 preparation?

Hi, just wondering if studying for the June 2012 CFA Level 1 exam is alright using current material? Essentially I am about to order Elan videos and notes for the time being. There are only going to be minor variances, correct? The major differences - from what I understand - will be in the questions. I plan on starting questions around December 2011/January 2012 time frame anyway and by then the updated questions should reflect the June 2012 exam? Any advice? Thoughts? (keep wise ass and unhelpful remarks to yourself) Thank you

Taking the December exam is still very much realistic (maybe even a little early to start studying for) and removes this issue as the materials for June 2011 also apply to Dec.

^ this and you have to buy the CFAI material anyway so you can just study that when you sign up. Also why would you buy the material 1 year before you have to? …oh thats right you have not done the time value of money LOS yet… CFAI changes the material every year, sometimes by as much as 5-10% (could be an increase or decrease in the amount of material). My advice is just wait til January and order then or just take the December L1 exam, you can do it!

Why not do it in December 2011, or June 2011 (June is still possible depending on your background, level one is a cake walk if you have a finance education background). This is what I suggest

Should have stated originally that I am in my final year at uni. This summer I am doing finance and policy courses. In September it will be managerial accounting and another policy class. January 2012 will be my last semester and the course load will be light allowing me to begin CFA L1 prep. However, even right now I can make time for light CFA studying with my packed school/work schedule - plus, I want to cover all CBOK L1 material two or three times over and over before writing the L1 exam So that’s why I was wondering if I should order Elan material right now… …and then register and receive the CFAI material in January 2012 Hopefully, that clears it up. Above response about the slight variation of 5-10% should be ok I think…mostly anything I order right now from Elan should be good enough I was hoping to find anyone in a similar situation so they can confirm how much the difference - and what type - in the material is… Thank you for the responses

Simply stated, if money is no object here, then go for it. But it is very easy to get burnt out on this stuff, and you don’t want to burn out before the real studying begins. I would suggest using whatever free time you feel you have at the moment and do something else…intramurals, volunteer, or just relaxing and enjoying the college life.

Well, most of the curriculum is going to be the same, so if you want to get a head start, then that’s not all that bad. But be aware that the curriculum can change from year to year and they tend to like to test the new material so as to be sure that people aren’t studying from old stuff only. There is often a place where you can see what the LOS changes are, so if you do this, be sure to locate that and make sure that you are studying any new stuff that they’ve added. In general, it’s not a good idea to study off of old material, but if you’re just trying to build a base to make your studying in 2012 easier, it can’t hurt too much. The worst that can happen is that you spend time in 2011 that isn’t in the curriculum in 2012.

Borrow CFAI books from a friend and take a look before you jump on buying the guides. In fact, if you;re starting so early, there’s no point in buying guides. Just register for June 2012 the first day you can and you’ll have your books in two weeks

June 2011 isn’t an option for anyone not signed up yet. Registration is closed, not to mention the CFA wants a grand to take the exam when you sign up during the last cutoff point.