- CFA Exams
- General Forum
- Topic: Planing to take CFA exams 2004
|Author||Topic: Planing to take CFA exams 2004|
|HI All,I am a engineer and would like to take the CFA exam. I wanted to know how to go about and help in planning for 2004 exam
All the help will be appriciated ...
|Go to AIMR.org and download their studyguide|
|Sundeep, you have an engineering background just like me! which one? I am an Mech. Engineer. Comming out of an engineering school obviously you have a very strong math background. You'll do extrmely well in the quant sections. The sections you'll have problems with are probably accounting, economics and ethics, so I would start with these subjects first. Know the financial markets inside and out, and believe or not your greatest challenge would probably be passing the Level I exam. Level II and III are much more analytical, and giving your problem-solving background (which is what an engineer does anyway) you have a leg on the other competitors.
Try some review questions on this web site....
|Thanx a lot to all who responded. Is their any which I can download on the topics you mentioned i.e economics and ethics as well as finnance ? Things which will give me a start on this things ? Any particular books etc?Thanx once again ...|
|No - you can't download the stuff. Wait until the study-guide for next year's exam is issued by AIMR (generally around September)and then you can buy the books as well as the study notes.You can find info about where to buy the books in the study-guide and info on the study notes on this web-site.For Level I I would highly recommend cfacenter.com: it has everything you would need to pass (I myself is a paid member:)|
Pretty funny to think that you may have some sort of advantage over those of us who have studied finance for years.See you in 3 years (at best) when you are considering law school or maybe medical school.
|While it is true that engineering requires a great deal of analytical capabilities, that does not imply by any means that you will do well in finance. Engineering mainly deals with physics, which entail a "scientific rationality" that financial markets obviously do not portray. If you are looking for theories (efficient market theory) to hold water consistently, you are in the wrong place.Once large numbers of market participants have different time horizons and start trying to anticipate each other, the outcome is orderly chaos or randomness (which the so-called "experts" refer as efficiency).
Therefore, to perform well in finance, you need plenty of common sense and some dosis of luck. Luck is something I hope our engineers do not need. I would venture that analytical abilities are not as decisive in performance as fortitude of character.As for the superiority part, that sounds like a little sparrow "talking" to a bug he is about to devore. Well, watch out for the hawk above you.