AuthorTopic: need advice, not negativity
tashkent
@2014-09-02 18:46:43
Hi guys,

Just wanted to get some thoughts from people out there who actually passed Level 1 in June and may want to share their thoughts. I work as a Portfolio Analyst and have a degree in Finance from 3 years ago. However, as most kids in college, I crammed for exams and quizzes the night before and ended up graduating with all A's. In turn though, I really didn't learn much as this was my own fault since I cared more about going out and having a good time. So I have been in my current job for two years and have been able to learn much about Portfolio Mgt and what not. However, I don't really do any Accuonting or Derivatives stuff. I took Level 1 in December, but only half-ass studied since I had little motivation. I thought I actually knew a fair amount of the material, but those two part questions really screwed me up.

However, I now find myself in a situation where I would like to move to a bigger city and in order to make more money in a new job, I need to pass the CFA Level 1. Do you guys think it really is too late to start studying this week and actually pass? Also, I work for about 9-10 hrs a day and don't have the luxury of being able to study during the day.

I would really appreciate some quality advice from people who are in similar situations than me. I really don't care to hear from those of you that have a TON of background with this stuff and found this exam to be a breeze.
piotr123
@2014-09-04 11:24:12
it's really hard to give an advise, since all people are so different ... aside any experience and degree you have, which will only help you, it also depends how quick of a learner you are, how motivated you are, how BAD do you need it... A good friend of mine from this forum, is a good example. He said "Fail is just NOT an option for me." He had a certain career plan laid out and passing Level 1 would play a big role in pursuing it. I think it is doable for you, since you already have some exposure to finance, but you have to study really hard...cramming the night before or week before or month before won't work in this case. I say if you really up for the challenge, make a schedule now and see how realistic it is for YOU...and you know your capabilities better than us. At this point go with the study notes from this analystnotes site and practice as many problems as possible. Good luck!
diapog
@2014-09-05 16:52:32
I failed the June 13 L1 test, spent most of August last year feeling miserable, then I subscribed to this web site, took and passed the Dec 13 exam with all but one subject at >70%. Like you, I half-studied for my first take, but I retained enough of this so that I had less topics on my plate for the December test and more time for mock-ups. Doing a lot of sample tests are crucial to passing the exams and don't forego this. On the downside, I still had to take a 2-week leave just to cover all. However, I entered and left that testing room confident that my next registration would be for L2.
sam10
@2014-09-06 09:53:34
I'm pretty much in the same situation, i work in the investment industry and have a degree from 3 years ago (Mathematics). I too failed the L1 exam for the first time in June 13 having not studied hard enough. Felt like i knew the material quite well but was guilty of last minute cramming and did not answer nearly enough practice questions.

Started studying again last week for the December 06 sitting and plan to devote fully to it this time in the remaining months. I also work 10hr+ days, but i reckon if i take some leave i can get about 350hrs max study in between now and then. I would appreciate some thoughts/advice from people on whether they think i have enough time to pass, bearing in mind i have retained some knowledge from last time i sat in june?
Further should i devote fully to the notes from this site or just go with the Schweser books...my thinking was that it would be better to concentrate on one source than waste time jumping between two when time is going to be an issue?
Any thoughts would be appreciated.

Thanks
dipuo
@2014-11-20 13:53:44
Actually I'm also not too sure on which source works better. I got the Schweser notes and the analyst notes as well, they both have their diadv and adv's.
Im really starting to panic because I started with the ethics and now I feel like I spent too much time on that section and only scored about 54% on the review Q's and now Im going to have less time for the really challenging material like the financial statements analysis.
I cannot fail this, it would mean another year of living on my current salary! SO piotr, I will adopts your friend's motto 'Fail is not an option'
Ngagara
@2019-05-23 08:12:52
Dipuo, you're my namesake. Whereabout are you studying from?

CFA Discussion Topic: need advice, not negativity

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Your review questions and global ranking system were so helpful.
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Lina