|Author||Topic: Feeling stressed for memory when I prepare for a CFA exam|
|I always focus on keeping stuffs in mind, making my study less and less inefficient.|
|A good preparation is a function of: time, knowledge, practice and commitment.
1. Time: the earliest you start, the more time you'll have to cover all the topics, from top to bottom. The more familiarized you are with the curriculum, the better, and for that you need time. Official statistics say that you need on average 300 hours for level I, I needed 600 hours approx. If you take it in June, some people start studying in February. For me that's not enough. I think that 6 months is ok. I would recommend you to take some time off, let's say, two weeks before the exam (when possible). Ask your boss early if this is possible. Try to finish the curriculum with one month in advance, so you can make exams and re-read some things. Don't expect to remember everything only by reading. Do exercises!!
2. Knowledge: it's a long exam and they ask everything. Study well and know the curriculum, you'll have 1,5 minutes in average to answer each question, you have to be quick. To be quick you will need practice and for that read the next point ;) For studying I used AnalystNotes' study notes, and for some specific readings also read the official curriculum. Know the different topic weights for the exam, also know the exam format. Identify your strengths and weakness quickly, and improve/solve them.
3. Practice: you are not going to pass the exam if you only read. The truth of the matter is that it is a practical exam. You will learn, remember and get the required exam rhythm by doing exercises. Of course that you have to memorize some theoretical concepts, but you don't do that at the beginning (like ethics, and even in ethics you need to do a lot of exercises). You have to test yourself with exercises. The most important are the mock exam. If you get a package like AnalystPro you'll have 10 mock exams. You should be able, at the end of your preparation, to do 3 mock exams with "real exam conditions", that is: strictly by clock, two blocks of three hours, no materials, no google, no phone, with the approved calculator and pencils, no interruptions. The most similar to the real exam conditions. You should be getting more than 70% correct answers. If you need additional exercises, you could get also AnalystNotes' QuestionBank (but they are not as good as the mock exams). Disclaimer: I don't work for AnalystNotes, I just used their materials and liked them.
4. Commitment: make a study plan and commit to it. Follow it and make the correct adjustments when necessary. Try to be honest on when you can study and for how many hours, be real on your estimates. It's a long process and it is really easy to say once in a while "I'll check that later". And remember, don't forget about your health, family and friends. Your social life will suffer, specially when the exam gets closer, but take care of it as well.
I hope this helps!!!
CFA Discussion Topic: Feeling stressed for memory when I prepare for a CFA exam
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