Hi All, I have spent a month to read Volume 2 (Econ) and to take notes. I think if I continue like that, I will definetely fail the test. So, my question is: Which volumes of the CFAI Material are superior to the referring Schweser book? For example, should I read FSA from CFAI or from Schweser? I know that Ethics should be read from CFAI… Thanks!
A month on econ? Good luck, at that pace you will need 3 months for FSA. Utilize your time properly and don’t copy down everything you read, try to understand and move on. You will forget the stuff anyway and will have to review it before the exam.
minocfa, IMO I think all of the volumes should be read at least once. After reading all of the books do some practice questions and see where you are.
I do not think FSA will take me longer than Econ. Econ was pretty dense and it was mostly new material to me. Anyway, it does not make sense to me to read everything without taking any notes. I will not remember anything if I do not make any notes. So, all the effort will be useless. I think it is more useful to read some volumes from CFAI and take notes. Then, read the rest from Schweser. Therefore, I am asking which volumes I should read from CFAI. I would appreciate feedback from people who already took the exam and passed it. Thanks!
crazy. how many hours have you put in thus far?
whoops, wrong thread.
mino, a few suggestions: 1) Definitely use the CFAI material for ethics, maybe for portfolio management too. The bad news is that beyond this, there’s no widely agreed upon strategy of which I’m aware. But this may help: 2) For anything you read in the notes that isn’t clear or seems important but isn’t addressed adequately, refer back to the CFAI volumes for additional clarity and coverage. 3) After each reading in the notes, answer the related practice questions in the CFAI curriculum. If you score well, move on, otherwise poor performance may be a signal to re-read or at least skim the relevant CFAI material. 4) Writing my own extensive notes didn’t prove to be worth the time at LI and I haven’t taken any since. I found practice problems and exams to be substantially more valuable. I scribble all sorts of stuff while I’m reading, but it’s just scratch paper that gets tossed. Preparing for this exam isn’t quite like your undergraduate courses, it demands more efficient use of your time. If you take thorough reading notes from the CFAI volumes, you may find you’ve managed to republish the Schweser notes. Mine amounted to about 300 pages. Anyway, it’s your decision. Good luck.
Thank you very much, hiredguns1. I think I should start reading Schweser notes instead of recreating them
minocfa > depends on your background I would say. I have no econs/finance/accounting background. I have been through both Schweser and CFAI. My personal opinion - read Ethics, Econs, FSA SS7 and SS8, and Portfolio Management from CFAI and the rest from Schweser. What you also need to understand is that Schweser and CFAI have different approaches towards drilling the concepts into the candidates. Schweser focuses more on calculations whereas CFAI does it through a lot of theory (and this is why CFAI is good for ppl with no finance/accounting background). I heard the Dec 07 exam was more theoretical and didn’t require deriving the right answer through calculations. therefore, when you’re reading schweser (for the fact that its easier and faster to read), you must focus on the theory.
Thank you for your answer… I think I will read Ethics, Econ, FSA, and Portfolio Man. from CFAI. And the rest from Schweser…