- CFA Exams
- General Forum
- Topic: CFA = knowledgeable?
|Author||Topic: CFA = knowledgeable?|
|To you all who have your CFA or are close to getting it....
Through the process of studying and taking the exams, do you feel you have learned a lot about finance (i.e. knowledge that will stick with you and help you in your career)? During undergrad, I would cram for an exam, ace it, and then forget everything (not on purpose). If I go though with this 3-year process, I'd like to get more out of it than just the title itself.
Do any of you have any views based on your experience?
|Been studying since January 2015 for the June 2015 exam. I still feel tham I'm not ready and I feel like my studying program was wrong. I read all the books and answered questions. I put off answering mock exams until the last week (which is now) and found out that I'm not as prepared as I though I am. I'm still sitting in for the exam this Saturday (June 2015) but I'm already preparing myself with the thought that I'm retaking it on December :(|
|Studying for the exams? You don't learn a whole lot. But the three years experience, coupled with the exam material (which makes you more in-tune with what's going on), adds some value.|
|You don't have to read all the prelim and required material, etc. to gain a lot of knowledge. The key to gaining knowledge is learning and understanding concepts, not memorizing a bunch of stuff for a test. If you completely understand the (fairly basic) quant stuff for example, there is no reason to do more than reading the notes for it. Alternatively, if you are having a hard time understanding economics, you may want to also do the required readings and/or supplement your knowledge with other books not in the curriculum. But I do agree that it depends on your approach. I just don't think that the CFA Institute approach necessarily gives you the most knowledge. Reading related books during your study and trying to immerse yourself in the concepts you find interesting as much as possible will give you the knowledgeyou're looking for. The CFA is the best stepping stone for it. And regardless, you will know a ton more than you did coming out of undergrad.|
|You can't cram for the CFA exam and expect to pass. If you're really really smart, you might can pull it off for Level 1, but I doubt it. The amount of material you are expected to know is simply way more than the human brain can "cram". You have to truly learn it. I guess you can cram a small % of the material prior to the exam, but no way you can cram all of it.|