AuthorTopic: Time required to study
@2011-01-23 23:42:05
Hi all,

I am considering registering for the Level 1 in June 11, however am a little concerned that I may not have enough time to study for it properly. I currently work full-time as a credit analyst, and finished my finance degree in 2006.

I guess the major factor that is compelling me to register for the June exams is that if I do the Level 1 in Dec 2011 instead, then the snowball effect is that I probably wouldn't be able to do the Level 2 in June 2012. This would force me to do L2 in 2013, effectively putting me behind by a year.

What have been people's experiences in balancing CFA study with full-time work? Please bear in mind too that I don't have an accounting major.

Thanks for any advice.
@2011-01-29 21:04:47
Hi, I can tell you my experience..I work full time as a portfolio manager. I studied for level I during 5 months following the study guide, reading all chapters and doing all exercises recommended, BUT I didnt had time to practice CFA type questions, and that was a mistake...

Hope it helps! :)
@2011-02-20 02:20:05
This is a useful thread. I am enrolled for the June exam and am just beginning to study. Can someone recommend the best materials? Should I read the books or will the lack of time make then ineffective? Should I buy a stufy guide. Thank you for any help. Thanks, Marc
@2011-03-16 18:50:34
I think that CFAI's 250 hour of minimum recommended prep time is least for dopes like me. I probably invested about 400 hours for level I and I will be around that amount for level II.

One key is to use an exam prep resource that tests you on your progress using a computer with a few thousand available questions. Otherwise, you can have unexposed weak spots when you get to the test.

I would think that lacking an accounting degree would be a disadvantage, but I'm sure that people manage to do it. I was a mediocre accounting student but it has been a big help with the CFA materials.
@2011-04-16 21:27:40
If you take L1 this June and don't pass, the "plus" is that you are familiar with the exam and have a better feel for Dec. Starting now for the June exam is a pretty tight schedule. I don't think that if you took and passed L1 in Dec that you'd have to wait until '13 for L2. You'd have all this material relatively fresh in your mind and you'd have the momentum of having studied for several months behind you. My experience is the reco'd 250 hrs is light by a wide margin. Figure about 400 (16/wk for about 6 months or 20/wk for 5 months). I say go for the June exam despite the tight schedule. Good luck.
@2011-05-25 11:37:29 is okay, but this note is the short-cut, if you are not familiar with one subject, you might feel that some sections of this website is not clear enough for you. On the other hand, I like the practice questions available so I can test my understanding of these topics easily.

I work full time, and try to prepare it three hours a day, but it is very hard to do it. Lack of time is the killer for CFA exam, so make sure you have set your study time before spending your exam fee, $450, a lot for me.
@2016-07-09 06:46:20
Lack of time is killing me too. Working and taking this exam is murderous. Time management personified.

CFA Discussion Topic: Time required to study

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Thanks again for your wonderful site ... it definitely made the difference.
Craig Baugh

Craig Baugh