AuthorTopic: An invitation for Study Plan advice
@2019-03-06 17:16:40
Hi all,

How goes?

I'm RH. I'm seeking some harmless advice from a few of you more veteran students of the CFA.

I started studying for the CFA level 1 quite early January. My game plan was to go through all the CFAI books, and understand everything as clearly as possible. I knew that my retention was going to be pretty low (let’s say a 20/25% guesstimate) but I didn’t worry too hard that I’d be in a sore position to soak it all up when I recovered it later on - I’ve found that the concepts aren’t brutal, and I’ve been coping quite well.

I work full time, but I manage to study 2-3 hours in the evenings, and 12-14 hours on the weekends. I often give myself Wednesday eve's off, and recently Sundays sometimes too. This will change from April-June, as I’ll be studying all 7 days of the week. I must also heighten that I’m looking to secure a new role within the next few weeks, in which I’ll be leaving my current position May 16th. Giving me just over a month of free time to study!

I’m currently on my 3rd book. I’ve covered Ethics, Pro standards, Quant methods, FRA, and I’m now on Equity and FI. I understand everything as I go through it, but I obviously don’t remember it as clearly now as I when I covered it a few weeks ago. The goal is to get through all the heavy books by April, and then through out April cover the last three.

I have also been lightly answering and reviewing the EOC questions, without practicing too hard. I wanted to review all the questions once I had studied all the material within the books. I tend to answer the non-mathematical questions, just as they’re easier to cover and practice. The formulas and maths so far isn’t too tedious, so I figured that with a lot of practice one I’ve read through the books, I’ll be fluent in answering the questions.

Now, my key concern is whether I’ve made a huge mistake by covering just the CFAI books, as I’ve seen the herd focus solely on the AN material. I mean, I knew of the AnalystNotes study guides, but I thought I’d have enough time during May to cover them. I’m starting to worry, and I now pose the question.

Should I scrap the CFAI books, and focus on the the AN guides instead?

Should I value the content short term, over the EOC & Qbank questions? Am I currently being too naive in believe I can cover all the questions thoroughly by the exam?

It may be more efficient if I do so, as I’m studying quite well and efficiently, maintaining a focused work ethic. If I valued the AN more than the CFAI books, it may give me more time to take in the more relevant information, which is cutting out all the nonsense, right?

Conversely, I’ve enjoyed reading the large books so far, as I do believe that if you want to be an Analyst, and make a career out of it, a lot of the material is quite interesting and useful. Although, I understand that if you’re doing it solely to have the qualification on your CV, then maybe it’s best to just learn how to pass the exam.

I’m somewhere split in the middle, as I do want to study efficiently, yet I don’t want to miss out on too much, ja feel?

To summarize, here is my thoughts of the best way to study till the exam, any sort of advice would be highly appreciated on how I could change this for the better.

–> Finish Equity and FI by the end of March latest.
–> Get through the final three books by early May.
–> Spend the first two weeks of May covering the AN guides.
–> Spend a whole month doing questions through and through out.
–> Sit the exam.

@2019-08-13 12:22:09
How did it go? Did you pass?

CFA Discussion Topic: An invitation for Study Plan advice

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I just wanted to share the good news that I passed CFA Level I!!! Thank you for your help - I think the online question bank helped cut the clutter and made a positive difference.
Edward Liu

Edward Liu