|Author||Topic: Passed CFA Lvl 1 with 200 hours-some tips for new/old level 1 takers|
|Hey Guys I recently passed the level one exam with about 180-200 hours of studying so for some of you slackers :) and procrastinators or busy people I thought I would share some tips that helped me pass the exam
1. Definitely and by this I mean 150% read the text books TWICE as I can't discuss the specifics of the exam (ethics) pay attention to interesting facts/details you believe CFA could throw at you. After you finish a topic go to CFA site and do the end of chapter mocks.
2. Do all the end chapters questions from the cfa books when you are reading the book the second time, this will hammer many of the nitty gritty details in
2. Analyst notes provides very good question bank review questions however the mock exams/question bank throw MANY deep questions compared to the CFA mocks so I would advise to only do about 2-3. The formula sheet (analyst notes freebie) was however very helpful so use this, this will be like the holy text of the CFA 1 prep.
3. DO use the CFA official resources, do all the mock exams and freebies, repeat the 4 hour exams although many are repeats you do tend to get many new ones the cfa official mocks are the closest in difficulty and type of questions to the actual exam.
4. Perhaps consider an actual mock exam (where you go into a place and sit for 4 hours) Many people say they are close to the real deal, I've never tried it, this is for all the people who like to be extra prepared
This was basically my timeline, some tips are to look at your wrong questions and understand the logic and connected information associated with the question, don't just memorize the wrong answers this will not help in any way
Don't stress, pace yourself or burn outs will happen when you fail to retain any knowledge and do what I like to call blank reading, where your flipping pages but not actually retaining any information.
For those curious about my score I got 50-70% in ethics, alt inv, derivatives, and fixed income. >70 in the other 6 categories. So as you can see I only did mediocre in small categories however kind of shit the bed on ethics :(. So guys/gals focus on the big earners as these are weighed more! Good luck!
|I'm sorry but I'm not gonna believe you read the CFA materials twice and only studied 180-200 hours. I agree your outlined study plan above would be helpful but it looks more like a 350-400 hours study plan.
I studied roughly 200 hours starting end of October and used schweser notes and the analyst notes qbank. I didn't have time to even look at econ and just focused on the heavier topic weights. I passed with below 50 on econ and FI, 50-70 for derivatives and alt inv., and above 70 on everything else.
I just want to make sure to anyone who might read this post that diligently reading through the material twice is not less than a 200 hour task.
CFA Discussion Topic: Passed CFA Lvl 1 with 200 hours-some tips for new/old level 1 takers
I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.