|Author||Topic: CFA Newbie|
So I'm CAIA Level I Candidate and 90% sure I'll end up passing in March. I'm considering taking the CFA Level I test in December afterwards. My question is what advice would you give to someone who has no finance background taking the CFA? I would like to avoid taking classes if possible just because moneys tight.
If the average person w/ a finance background takes lets say 6 months-300 hours to study. maybe I should do 8 months of 400 or even 450 hours? (My main concern is the financial analysis part which I have absolutely no knowledge in)
Any suggestions or advice would be greatly appreciated. Thanks.
|You have plenty of time to take the L1 in Decmber 2019, Start mid June and you will be able to meet your goal. 400+ hours should definitely see you through.
I am currently finishing my engineering degree and will be taking the L1 next June. The material is not difficult to understand, its just the sheer amount of the curriculum that poses problems. One thorough pass(with Qbank questions), a quick review of weak areas and mock exams towards the end should be enough.
Don't worry about the financial analysis part. All it needs is some patience. The CFAI texts explain everything very well and AnalystNotes notes/Qbank help a lot as well.
Like I said L1 is easy to pass provided you give it enough time. 400 hours are definitely enuf even for a non-finance background person.
L2 I hear is a completely different story but I cant say much on that , not until I pass the L1 at least :)