|Author||Topic: If you are using Schweser - be careful!!|
|Some posters (in another forum) raised an interesting point recently - that Schweser notes cover topics selectively, based on their "beliefs" about what is important and what is not. Sometimes they are right, and sometimes they are not.
This year I failed Level I and I was using Schweser notes and supplemented it sometimes with Stalla notes. Both sets of notes were inadequate, but Schweser was the worst! They didn't even come close to what was offered on the real exam. I felt cheated, but after I checked the books at the library it turned out that some concepts on fixed income and derivatives were explained in a different way. This is very sad. I wasted a YEAR of my time and the results were horrible. The worst part was when I had to tell my employer that I failed the exam. This year I am using the textbooks prescribed by AIMR combined with CFACenter's notes - don't want to check if Schweser improved the notes this year. Judging by the consumer feedback posted in another forum - I was not the only one who had these problems with Schweser. These guys are playing the odds with their 'most important list' when our life is at stake!
My advice to all of you guys - if you don't want to be in my position - do not rely on Schweser - at least have the textbooks in your possession so that you can find out what topics were omitted in the notes and decide for yourself what is important and what is not.
|Thank's for the warning,was planing to order for the june exame,
|I used Schweser and passed. I took the stance that they were summary notes and could have gaps. I used selective textbooks to become familiar with AIMR's language. Schweser, as like any provider, will teach a certain style and their questions reflect that. Therefore I highly recommend getting questions from other course proivders and looking at the questions from the texts. In my study group, I found that people were too focussed on the readings and not on exam questions. I spent more than 50% on my time on questions and worked backwords referencing Schweser or the texts if I got it wrong. My only criticism is that Schweser was at times too condensed and did not elaborate on some key concepts.|
|Two years ago my friend gave me a copy of Schweser notes and a complete set of questions. Unfortunately I blew it on my first try. I don't know maybe it was the notes or maybe it's just me, but I studied very hard. This year I used cfacenter's notes and passed with 8 out of 10 >75%.
my 2 c
|The thought that aimr directly targeted schweser in designing its exams is a joke. But if it were true, it would only prove how good schweser is at preping its students for the exams. Schweser is proactive and is one step ahead of aimr so there is no worry of getting caught in such a trap.|
|who cares about rankings? I want to pass the exam!
If "Schweser is proactive and is one step ahead of aimr" then how would you explain that all these Schweser customers whine and curse the notes right after the exam? Why do they say that the notes didn't contain important topics tested on the exam? Why do they say that Schweser's "most likely topics" are in fact least likely to appear on the exam?
I mean, c'mon, what should we believe in - your unsupported advertising claims or candidates' feedback?
Textbooks is the ONLY sure way to ace the exam. I am very happy with them and recommend them to all candidates! We are talking about years of my life, for Christ' sake! Do you think I will run risks here and buy Schweser notes after readers say that they were screwed with them last year?
I am sorry, Charles, it all wouldn't happen if Schweser offered a decent product. Maybe they are trying their best, but isn't it about time to stop pretending that they have inside info from AIMR and know what will be tested? Candidates fail miserably because they never had a chance to familiarize themselves with AIMR-recommended material only because Schweser people think they are smart and can cut and slice the curriculum the way they want it. Schweser knew the risks that they were taking and they knew exactly why they were doing it - they wanted a reputation of CFA gurus. Well, sorry guys, no luck! Now you pay the cost of customer frustration!
|Speaking of refunds...anyone knows Schweser's return policy? Hmmm....??|
|refunds? You dream it. There are tons of errors in Schweser notes and questions, and you wouldn't believe how many we found while doing QM questions alone!!|
|Using Schweser Online right now for CFA and I have to say that it was a big waste of 350 bucks or however much it was. The layout is horrible, hard to find out where you left off and there are some pages with answers but not questions.. not sure how LII would compare though.|
|basically i borrowed the schweser notes, ohptocopied the multiple choice questions out of the back and thats it, CFAcenter all the way for me, their notes are fantastic. schweser is just a joke|
|Guys, I suggest that CFA Notes - be it Schweser, CFA Center or any another should be used as the sole learning guide. One should keep refering to the topics in the books recommended by AIMR. This way you would not have to face many suprises that the exam throws up.|
|Schweser is total garbage. Do something more useful with your money- give it away or go drinking. Just dont give it to those morons at Schweser.|
|Study notes should never be the sole source of learning materials for the exam. Instead, you should be reading the required CFA texts and then using the study notes to refine/refocus your studies. It's a matter of boiling down the material AS YOU GO ALONG. Relying on study notes alone is a sure fire way to fail.|
|I think that its all a matter of what you have studied before: you can use Schweser for subjects you covered at Undergrad but textbooks for others. For example, I relied on the textbooks for Asset Valuation as I never did any of that at college but I covered the rest with Schweser since I was already familiar with it.
bottom line: be selective, you dont have to use ALL of Schweser just cause you bought the whole set.
Anyway, the quality of Schweser notes and Analystnotes.com's notes are both high.
I do a lot of writting at my current job. Have you tried summarising a 50 page document? you will surely miss out some point. Schweser should be seen as what it is - a summary.
it is very handy for those that start studying late. Better to miss out a few points here and there than to finish studying a course and not having enought time to do the other course justice.
The challenge is for those of you better at summarising to write their own study notes.
|True, although i found that while i summarised some of the books required, and then read the cfa center notes, they were a mirror image, yet the schweser book was like an "Ann and Barry" primary school book in comparison (i.e. you'd be lucky to get a brief description of the chapter titles yet alone rest of the course!)
Basically if you havent got some sort of masters in a finance related area i think you should really dig into the books before relying on notes, as you really need to fully understand teh concepts behind every sentence.
|All of you ppl who wine abt not passing the exam..it's not because of the notes..maybe u should rethink for a second and possibly come to the conclusion that it's you that doesn't have the mental capability to pass this exam..so quit wining|
|I wish I had read this thread earlier. I used Schweser for the December exam, and I have to re-take level 1 again this June. Lie, lie, lie .. that's all on the Schweser web site about how great their notes are, etc.|
|I am in the same situation as 'cfatobe'. I took level I in Dec. And didn't make it. I studied only using Schweser. I want to take the exam again. Any suggestions/recommendations for me ?
|For Level I, I used this site in addition to Schweser notes and was definetely worth it. I believe schweser mock exams are not tough enough although boosted my confidence.|
|I used schweser as a summary... I made sure i did most of the questions on this site and used schweser notes to figure out answers to the questions on here (schweser questions are useless)... I passed without problems. This site is incredible because of the questions. In my mind, if you get schweser notes and use this site to do as many questions as possible (70%+) you should do well.. The key i found was getting to know not only the material (schweser), but the many possible ways it could be presented (this site)... But, I am very confortable with the concepts presented in the CFA curriculum - i could see if you are not in the field you should probably read the CFA readings dilligently before doing any questions...
I hope you find your winning combination!
|Frankal101, I am employing the same strategy: using schweser notes for notes only and this site for questions. Having taken the exam, which questions did you find most useful: Exam or basic?
I am taking the exam in June.
Thanks in advance.
|so frankal what do u recommend for notes .. this site or ther schweser notes ?
|sevaa .. what do u mean by exam or basic ?|
|Schwesser notes were just ok for level I (June 2006), but I failed level II (june 2007) thanks to my belilef that they successfully covered all the topics. From this point of view I find the notes for derivatives and portfolio management were incomplete.|
|guys, it's my first time in this site and i love your thoughts and discussion..i was anxious about getting schweser despite having complete set of notes from the institute coz im overwhelmed by it's size..now i have a second thought..thanks..|
|I failed my first try and I have learnt few things.
1) DONT relied solely on the CFA readings or SCHWESER or STALLA or even this site. Important is you need to read readings and You need practice questions & exams. I found this website only a week before that exam. I wished I had found this website much earlier.
2) My friend gave me the Schweser complete package when i'm on my second trial. Schweser is more like a supplementary-organized notes. I relied on this for memorization especially on Fin. Stmt Analysis section. You DEFINITELY need to do the readings thoroughly.
3) Tips for level 1; you need to be able to answer at the snap of the finger. During practice you must answer questions quickly (and correctly) as the real exam often combined 2 or 3 practice questions into one question in the real exam. Otherwise, you'll find yourself running out of time....
|where can i get FREE AIMR textbooks and AnalystNotes' notes?|
|sha09.. you expect people to answer to that?|
I study the forums instead of a extended one of these days, but finally I get a legitimate reason to register and bring to light hello.
In time I command try to tell of their experiences and pirate others forumowiczom.
|I would say that my problem with Schweser is just the opposite. As someone who is doing the readings and takings notes, Schweser looks about what my notes would look like except wordy and useless. Analyst notes are concise and to the point. If you are going to waste your time reading schweser, just skim the cfa cirriculum and slow down when necessary.|
|can anybody tell me what is AIMR?|
|Hi There, Study Notes and preparation aids are meant to be used in addition to the assigned CFA Curriculum. In defense of Schweser, or any other provider like AnalystNotes; they are all doing a very professional job. The individual's study approach, study hours, previous education and so many other variables, as well as performance on exam day, will all factor into the outcome of pass versus fail.|
|I am using Schweser and analyst notes....schweser even tells you to read to actual CFA books and use theirs in addition..not a hard concept. Its just another tool to use.|