|Author||Topic: Keep trying|
|I sat my first CFA Level I exams in June 2013 session on which I have failed. I also sat Dec 2013 and June 2014 on which I have also failed but due to "external" reasons. On my first trial I used Schweser Notes on second the CFAI text boks and for the third time again SchweserNotes.
I have registered for the June 2016 exams to get a better preparation and increase my chances to pass Level I. This time I am using analyst pro package which I surprisingly found is harder than Schweser's Qbank.
Please keep in mind that I am an MBA holder with consentration in Finance, and I believe I am familiar with the exam syllabus mainly due to my previous exam preparation. The schedule I have followed on the previous exam was studing before work. I was studying from 4:00 AM to 6:30 a.m every work day and 2:30hours on Saturdays for about 6 months before exam.
Which do you believe should be my study plan?
I have never given up on anything in my entire life and I promised to my self that CFA exams won't be my first.
|I must appreciate your determination. Before you make up any plan its better to analyse your past experiences in terms of your weak areas and stronger ones. You would definitely have the percentage sent by CFAI. Try judging your performance and then highlight areas which need to be understood. The beauty of history is that it can be used for learning! Make your weakness becomes your strength this time. The moment you identify your lacking, it would be a turning point for you.
Either Shweser Notes or AnalystNotes is sufficient for Level I a part from Ethics Standards portion. Focus well on areas with more weight-age. While you are giving your first reading organize yourself in a way that when you revise you require less time. The key to success lies in revising so that you retain the information well. Make sure what ever you read you understand it well. It is all about quality time which you spend in your studies and 4:00 AM to 6:30 AM is undoubtedly a quality time provided that you have taken sufficient sleep. I believe these are the tactics. The strategy should be such that your lacking must be addressed so that you pass the exam.
|CFAI books are amazing for deep understanding but when it comes to retaining the material is so much that at least I had got lost. Study notes by an exam prep company such as Schweser or AnalystNotes is written with exam point of view especially following the LOS flow. It is quite helpful for exams perspective. My assessment is, the areas which one do not understand through study notes must be done from Curriculum (CFAI BOOKS) whereas Ethics, as it requires understanding and in many cases judgmental questions are asked, must be done from CFAI Books (the standards part). Practice is the key to success no doubt about it.|