7/29/11

I just started to study for the CFA Level 1 exam coming up in December. I thought I'd see if anyone on these forums (please, only those who have took the CFA Exam) could give me some useful advice regarding studying for the CFA Level 1.

Thanks in advance...

Comments (91)

7/29/11

I passed the level 1 exam. I studied for 2 and a half weeks (end of Junior year and before internship started, got > 70 in every area). If you come from a Fin/Accy back ground then the CFA level 1 exam is a joke:

  1. Get schewser notes (nothing else, not even Hot sauce)
  2. Read schweser notes and do all the quizes (I didn't do any of the non-multiple choice ones)
  3. Read the Ethics book from the CFA institute twice
  4. Practice problems (The schweser bank is an awesome resource)
  5. Sample exams (I did the CFA institute sample exam (40 bucks each, max 2) and the CFA mock exam (free) combined with 2 schweser exams)

Good luck!! Those 2 1/2 weeks sucked but atleast I got to enjoy my spring break, grad parties and go out a bunch.

Always be improving

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7/29/11
OSahead:

I passed the level 1 exam. I studied for 2 and a half weeks (end of Junior year and before internship started, got > 70 in every area).

I am thinking about taking the level 1 exam before my internship starts next summer as well, but I'm worried that my internship will start before june 2 which is the test day. When did your internship start?

7/29/11

quick question OSahead, when you register for the CFA level 1 exam, i know they send you notes and mock exams to study with, is that schweser or another publisher? and if it is, can you opt not to buy their curriculum and just buy the schweser study guide instead?

Best Response
7/29/11

Regular reading schedule + practice exams:
http://www.lifeonthebuyside.com/cfa-studying-tips-...

OSahead's advice is good, I'd just spread it out longer than 2 1/2 weeks for your own sanity. CFA Level 1 is very much like undergrad finance, so it's not bad at all if you have that background.

CFA Level 2 is like Ann Arbor (a whore). It's graduate level shit plus an anal probe. I'll never forget completely bombing a an entire question set on Treasury bond options.

7/29/11

You have to pay for the books (which are worthless tbh except the Ethics one and even that one is like 1/5 of the book it's in). Schweser is a company (part of Kaplan) that shortens the notes considerably and makes it easier to read (and easier on the mind, it costs a good amount though).

Always be improving

7/29/11

got it, but if i just used the books provided by the CFA institute i would still be fine right?

7/29/11

My internship was supposed to start like the 2nd to the last week in May (Right after my junior year) but I talked to my employer and they understood so they pushed back my start date to the monday after the CFA exam. I think doing it between junior year and your internship is a good idea and a great way to get level 1 off your back (and so you can just focus on FT recruiting).

Always be improving

7/29/11

.

7/30/11

1) Schweser
2) Analystnotes.com
3) At least 1-2hrs/ day weekday; 2-4 hr/day WKD
4) Do AS MANY problems as you can; don't waste too much time with your nose in the books not doing problems
5) Learn all the BA 2 Plus Shortcuts
6) Flashcards for memorizing ratios
7) Do more problems

Can't stress how important is to do 1 problem @ a time and immediately reference your books if you get it wrong. This is the best way to learn.

7/30/11
rothyman:

1) Schweser
2) Analystnotes.com
3) At least 1-2hrs/ day weekday; 2-4 hr/day WKD
4) Do AS MANY problems as you can; don't waste too much time with your nose in the books not doing problems
5) Learn all the BA 2 Plus Shortcuts
6) Flashcards for memorizing ratios
7) Do more problems

Can't stress how important is to do 1 problem @ a time and immediately reference your books if you get it wrong. This is the best way to learn.

All of this. And be sure to take the mock exam and any exam your local society may provide at the very least. If you're not proficient in the BA 2 plus professional, my calculator of choice, go to this website:http://www.atomiclearning.com/ti_ba2 Learning the shortcuts and features of the calculator is crucial for time management.
I spent around 150-175 hours on level I, but I came from a chemistry major with scattered econ and finance classes so 70% of the material was completely new. But, I passed on my first try thanks to points that rothyman noted.

7/30/11

Cfa books cover far too much shit and are kinda boring to read. Your time is far better spent with a third party providers notes and looking up shit that you don't understand in the cfa text. Do the end of chapter questions and as many practice exams as you can. Time management can play an important role so make sure you are okay on that.

7/30/11

I had 0 finance/econ/accounting background so it was a bit steeper of a learning curve for me -- and i just passed L1 and L2 in Dec/Jun. Here are the things that I'd recommend if you're in a similar situation:

Schweser Notes & Practice Exams -- read all the notes, take all the exams -- you can probably download these free online if you google/torrent around

CFA Books end of chapter questions -- do all of these (but don't bother reading the text, way too long)

CFA Mock/Sample exams -- do every question you can from the people making the test.

Elan 11th Hour Guide & Practice tests -- I thought the 11th hour guide was the best all-in-one summary book out there (better than Schweser Secret Sauce). Elan's practice exams have a few more typos and whatnot, but they represented the actual type and difficulty of the questions on the real exam much better than the Schweser tests IMO. If you're only going to get a few extra practice tests, i would recommend these.

Also, analystforum.com is a much better place for CFA discussion. Good luck.

7/30/11

it really depends on what you are doing other than studying, whether it's being in college or working. Hands down, I would recommend the Schweiser notes, but most of all I would say get the practice exams. Doing practice exams are a majjor game changer.

7/30/11

CFA Level 1 Tips: I strongly suggest you use Schweser for Lvl 1. Finish 1 study session per week; should take 18 weeks total to get through all 6 volumes. Spend 2.5 hrs on weekdays and 8 hrs on weekends. MAKE SURE to read the LOS, you only get tested on what is written there. If they don't ask to calculate Kurtosis, don't waste your time memorizing it. Just make sure you strongly understand the concepts. Know your ETHICS cold as there are very specific scenarios. Read your calculator manual and make sure you know how to take advantage of all functions. Do all the questions in the CFA books because you get them regardless. Leave yourself 1 month before the actual exam and take as many practice exams as you can.

**Also, anyone that claims they finished studying in 2.5 weeks or refer to Lvl 1 as a joke are completely bullshitting you. Genuine candidates and charterholders will attest to this and you should stay away from any advice they provide because it is not factual.

7/31/11
orangejulius:

CFA Level 1 Tips: I strongly suggest you use Schweser for Lvl 1. Finish 1 study session per week; should take 18 weeks total to get through all 6 volumes. Spend 2.5 hrs on weekdays and 8 hrs on weekends. MAKE SURE to read the LOS, you only get tested on what is written there. If they don't ask to calculate Kurtosis, don't waste your time memorizing it. Just make sure you strongly understand the concepts. Know your ETHICS cold as there are very specific scenarios. Read your calculator manual and make sure you know how to take advantage of all functions. Do all the questions in the CFA books because you get them regardless. Leave yourself 1 month before the actual exam and take as many practice exams as you can.

**Also, anyone that claims they finished studying in 2.5 weeks or refer to Lvl 1 as a joke are completely bullshitting you. Genuine candidates and charterholders will attest to this and you should stay away from any advice they provide because it is not factual.

Thanks for all the reply! Some great info... It looks like most of you recommend that I use Schweser material to study with.

There are multiple tiers that Schweser offers. Do you guys think it would be alright to purchase just the Schweser notes, or should I definitely go for both the Schweser notes and practice questions?

I know that you all recommend practice questions, but I thought that the ones provided by CFA might be enough.

7/30/11

I passed lvl 1 entirely with the Schweser books, some tips:

1) Once you get the Schweser Books, tear out each of the formula pages at the end of each books. Makes it easier for study and referrence

2) Make sure you save enough time to do the practice exams (like one month at least). Don't be discouraged if you fail multiple times. The schweser exams are harder than the original in most cases (particularly the ethics portion)

3) For ethics, don't spend too much time reading the theories. SPEND TIME ON THE QUESTIONS! Understand how they ask the questions and scenarios that relate to each code and standard.

4) Like some of the people said above, practice, practice, practice, practice.

7/30/11
SC2Monkey:

I passed lvl 1 entirely with the Schweser books, some tips:

1) Once you get the Schweser Books, tear out each of the formula pages at the end of each books. Makes it easier for study and referrence

2) Make sure you save enough time to do the practice exams (like one month at least). Don't be discouraged if you fail multiple times. The schweser exams are harder than the original in most cases (particularly the ethics portion)

3) For ethics, don't spend too much time reading the theories. SPEND TIME ON THE QUESTIONS! Understand how they ask the questions and scenarios that relate to each code and standard.

4) Like some of the people said above, practice, practice, practice, practice.

Agree with all of this except for ethics. Ethics is the least intuitive and comprises a significant portion of the exam. There is so much potential bullshit that can be covered during the ethics portion that doing practice questions is not going to do it all for you. I think I would have done okay with just the Schweser notes for ethics but I read the handbook also just to be sure. I distinctly remember two ethics questions on the June exam that I had no fucking recollection whatsoever of the concepts. Your score on ethics supposedly helps/hurts borderline cases so that alone to me is worth putting in extra effort on it.

7/31/11

HP 12C or TI BA II +??

Currently am using both but can't decide which one is easier / faster. Any advice would be great.

7/31/11
ncstater:

HP 12C or TI BA II +??

Currently am using both but can't decide which one is easier / faster. Any advice would be great.

Neither.

Professional edition ftw.
http://www.amazon.com/Texas-Instruments-BA-II-Prof...

8/1/11

Schweser and drill down on ethics. Start studying now and stick with it. The first post grossly understated the required level of committment. I passed I and II and only used Schweser. The official books are too lengthy and borning as already stated.

8/1/11

I'm on my second run through of the syllabus for Level I (Schweser) and agree the questions are the way to go. I can't hack reading the same material repeatedly but can do questions all day. But what works for some may not for others.

"After you work on Wall Street it's a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side." - David Tepper

8/23/11

I call BS on anyone that says it can be passed with 2.5 weeks of studying. Recommended study hours are 250+. How many productive hours are you fitting into 2.5 weeks? The last 2-3 weeks should be entirely spent on practice problems and practice exams. If you have to read AND do that shit, sorry I'm not buying it.

I just passed Level I in June studying about 240 hours working full-time. Studied March, April, May.

My name is Nicky, but you can call me Dre.

8/23/11

if you came from a finance background level 1 is all review shit for most undergrads. definitely an outlier but i don't see it that unlikely.

8/23/11
whatwhatwhat:

if you came from a finance background level 1 is all review shit for most undergrads. definitely an outlier but i don't see it that unlikely.

This is only true for about 40% of the curriculum. You have to take into account FSA, Ethics, PM, Quant, etc....your average finance undergrad might not have a ton of background in these areas. Varies by person though.

"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."

8/23/11

like i said 2.5 weeks would be an outlier but i don't see it as omg no way u liar. it's much higher than 40%, i am going to a fucking non-target of non-targets and covered everything besides the more in-depth fixed income material and some of the FSA stuff. PM is a small percentage of the level 1 curriculum and possibly taught in whatever intro finance class and along with most of the quants stuff that is not covered in an intro stats course. i'm assuming most finance majors were required to take some accounting and statistics courses. ethics is really the only thing that should be brand new and i guess maybe some of the alternative investments shit.

8/23/11

I've heard some of the smartest people I know tell me that they had to study for a solid 1 - 2 months to pass level 1. Mind you these individuals went to top tier schools & some of them are CFAs now.

When I hear people talk about how they can pass with a few weeks of studying or how it's not really that big of deal, it never surprises me. These people never pass. I've met tons of them who belittled the exam only to get their ass handed to them. And they always give up.

Given, there are a few 'special' cases in which extraordinary individuals can learn things extra quickly. Maybe you are the case.

8/26/11
rothyman:

I've heard some of the smartest people I know tell me that they had to study for a solid 1 - 2 months to pass level 1. Mind you these individuals went to top tier schools & some of them are CFAs now.

When I hear people talk about how they can pass with a few weeks of studying or how it's not really that big of deal, it never surprises me. These people never pass. I've met tons of them who belittled the exam only to get their ass handed to them. And they always give up.

Given, there are a few 'special' cases in which extraordinary individuals can learn things extra quickly. Maybe you are the case.

^ This.

There's a reason the pass rate for Level I (the "easiest piece of shit ever" as some refer to it) is between 35-39% in any given year. If everyone studied for only 2.5 weeks the pass rate would be less then 1%.

People that belittle it or the time required either a) haven't even taken it; b) haven't passed it; or c) are in the .01% geniuses that can study for 2.5 weeks, which I doubt would be trolling on WSO bragging about it if that were the case.

My name is Nicky, but you can call me Dre.

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8/23/11

shit, i had to study a hell of a lot because i forgot all the shit i learned but i did recognize a good portion of the content as i was going through it. i'm just saying that most undergrad finance programs should cover a good deal of the level 1 content and that if you have a good enough memory that you don't need to study a lot. the material for level 1 is so broad that you need to have a good memory anyway. i'm just happy i can take level 2 now because it's so much harder for me to study when exam is a list of financial fun facts of the day versus actual application.

8/24/11
whatwhatwhat:

i'm just happy i can take level 2 now

^it's not that fun

"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."

8/24/11

i don't think it will be either but it's been a hell of a lot easier to focus on studying given the change in format and material.

9/11/11

how much would it cost me to take the CFA enrollment?

9/12/11
  1. i think the e-book one is 1030 and the print is 1070. but most people buy third party study guides ( schweser, elan guides, etc) which is another 400. the earlier you register the cheaper it is.
9/12/11
khaykin:

1000. i think the e-book one is 1030 and the print is 1070. but most people buy third party study guides ( schweser, elan guides, etc) which is another 400. the earlier you register the cheaper it is.

Hi khaykin, I would just like to ask if where to have the best review center for CFA?

9/13/11
zarah:
khaykin:

1000. i think the e-book one is 1030 and the print is 1070. but most people buy third party study guides ( schweser, elan guides, etc) which is another 400. the earlier you register the cheaper it is.

Hi khaykin, I would just like to ask if where to have the best review center for CFA?

That question i cant answer because i have no clue. you dont need a review center, just buy the books, study alot, and you'll be fine.

9/12/11

ugh, because my dumb ass is graduating off-cycle i just realized i need to wait until i receive my degree before i can register. i was hoping to save $100 and have some text i could change on my resume

9/12/11

Where is the best place to study CFA?

9/13/11
johnnym:

Where is the best place to study CFA?

In the "Secret Meditation Spot" at Tiger Cave Temple, Karabi, Thailand. It's where I get my best thinking done.

"After you work on Wall Street it's a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side." - David Tepper

9/13/11
Oreos:
johnnym:

Where is the best place to study CFA?

In the "Secret Meditation Spot" at Tiger Cave Temple, Karabi, Thailand. It's where I get my best thinking done.

I agree. Your parents basement is another good one. There will always be a ready supply of hot pockets.

9/20/11
  1. Register with CFA Institute
  2. Buy Kaplan Schweser books (~$400 I believe).
  3. Read Kaplan Schweser book, review official CFAI EOC questions
  4. Pass exam

Plan to devote roughly 250 hours (or more) of total prep time.

My name is Nicky, but you can call me Dre.

9/20/11

I spent about 180 hours studying for level I without real finance experience and passed without a problem.

9/20/11

2.5 weeks are enough. study 4 times of the practice problems(off CFA website, mock exam). know inside and out.
you will be fine.

9/21/11
wailea:

know inside and out.

Wow, never thought of knowing the material inside out before. Revolutionary.

"After you work on Wall Street it's a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side." - David Tepper

9/21/11
wailea:

2.5 weeks are enough. study 4 times of the practice problems(off CFA website, mock exam). know inside and out.
you will be fine.

No.

9/21/11
wailea:

2.5 weeks are enough. study 4 times of the practice problems(off CFA website, mock exam). know inside and out.
you will be fine.

I'm sorry but this is entirely untrue and naive.

You could take 5 different mock exams and still not see all of the material converd under the CFA CBOK. There are maybe less than 0.5% of people that could study for CFA I in 2 weeks and pass and I'm guessing they would have a near photographic memory and could have retained everything from undergrad finance or masters in finance material.

People that say things like this have no idea what they are talking about. CFAI recommends a minimum of 250 hours for a reason. People that are serious about passing should devote the time necessary. Study everything but focus more of your attention on Ethics, FRA and Equity as they make up nearly 60% of the exam weighting.

My name is Nicky, but you can call me Dre.

12/27/12

I used Schweser notes and for extra practice I bought the test bank from examsuccess. I found both worked well together.

4/21/13

I highly recommend going over the CFA institute material and trying to go through as many practice questions/mock exams as you can. The end of chapter problems are especially helpful to reinforce the reading material. Several sources are available for obtaining sample questions or mock exams, one of which is CFA Review. Good luck!

4/21/13
300 Hours:

Dec Level I is sometimes not the issue, but rather the Level II that will come 4 months or so after your Dec Level I results. If you're planning to take Level II immediately, you may want to consider starting your studies straight after Level I, before the Level I results come out

This is presumptuous and overkill. I did Dec L1 and June L2 first time passes, waited 'til the results came out, drank for a week then got down to it. Just work. there's only one real tip: don't puss out, you have some spare time? revise! none of this "i've done my 40 hours for this week, i don't have to work anymore and am going to watch Kim and the Kardashians". that'll get you a fail. just keep on reading until you have to go do something.

"After you work on Wall Street it's a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side." - David Tepper

4/21/13

Overall I would say this is really good advice. Agree with Oreos on not freaking out about L2 once you finish L1. Wait until you get your results, celebrate a bit, and then get cranking. You won't be able to focus on L2 material without knowing you have L1 in the bag.

"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."

4/21/13

Great advice. Wish I had used some of it before.

4/21/13

Is it better to take level one in December or June?

4/21/13

Out of interest, how many hours are you putting in a week @ this point? I'm taking Lvl 1 in June & I was going about 1-2hrs/day (mon-sun).. recently ramped it up to 3hrs+/day. Then again, I realize level II is infinitely harder than level 1 and maybe even harder than 3..

4/21/13

I'm studying for the level 2 as well while working a 60-65 hour bb job. Unfortunately I can't study at lunch, but I definitely agree with the workouts, and going out at least one night a week. These serve as really important breaks from the sudy and work, without which I think I would go insane.

Rothyman,
For level 2 I do about 3 hours a day. Was a bit lighter at lvl 1

4/21/13

Studying for Level 2, not doing nearly 3 hours a day yet-more like 1/2 to 1 hours/day during the week and more (4-5/day) on the weekend. Going to kick it into gear in April/May.

For Level 1, I did about the same plus took a long weekend the week BEFORE the test (not the two days before, then you're just cramming).

There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.

4/21/13

Do 9-7 Saturday and Sunday for 3 consecutive weekends and call it a day. Take Friday off the day before and do a practice test and correction....

4/21/13

Cancel your cable subscription and replace it with the Schweser video series.

4/21/13
Slacker23:

Cancel your cable subscription and replace it with the Schweser video series.

haha

4/21/13

i'm also doing L2 in June, and currently working in f500 fp&a at about 50 hours/week, appreciate the advice.

TOTALLY agree with WSO advice... i should be studying now haha.

Money Never Sleeps? More like Money Never SUCKS amirite?!?!?!?

4/21/13

nice post for those that are considering CFA

4/21/13

I don't take lunch. At office by 700 and done working at 7-8. SO my options are show up at 530-6 or stay till 10. On weekends I spend every possible moment studying and haven't gone out or had a drink since December. I did this for the first two levels and it worked.

4/21/13

I work full-time as well and try to put in two hours every day afterwork. If you're in the office 10+ hours a day you can do another 2. I practically live off breakfeast food as well. I suggest getting a bottle of tobasco or whatever if you ever get bored of the same shit everyday. I agree that exercise is the most important aspect though. Form an exercise group with friends to maintain a social life.

4/21/13

I remember my CFA 3 exam. I drank a lot of water at half time. When they did the final toilet call, I thought, "nah, I'm good".

Then, at the beginning of the final half hour of the second half, I started feeling an intense need to go to the toilet. I was doing the exam in Hong Kong and I explained to the nearest steward in my best colloquial Cantonese "I really fucking need to piss, I'm going to explode" **. She was understanding, but rules were rules.

(** "Ngoh ho kiu gap, woi bao ah!" if you ever need it, but if you get the tones wrong you'll probably just be ordering some god awful Cantonese dish)

After the exam was formally over, the stewards then took forever to collect the papers. I smashed through several barriers of discomfort, thinking each time that I was about to lose control.

Finally, finally, finally, we got out of the room and I headed to the bathroom quick smart. Only to find there was a long queue.

At last, I got to a urinal and did the longest piss of my life. It would have been 2 - 3x longer than any previous record. Not that I keep record or time these things, but that piss was incredibly long.

TL;DR version - don't drink too much water before the exam and/or make use of toilet breaks.

Those who can, do. Those who can't, post threads about how to do it on WSO.

4/21/13

SSits:

I remember my CFA 3 exam. I drank a lot of water at half time. When they did the final toilet call, I thought, "nah, I'm good".

Then, at the beginning of the final half hour of the second half, I started feeling an intense need to go to the toilet. I was doing the exam in Hong Kong and I explained to the nearest steward in my best colloquial Cantonese "I really fucking need to piss, I'm going to explode" **. She was understanding, but rules were rules.

(** "Ngoh ho kiu gap, woi bao ah!" if you ever need it, but if you get the tones wrong you'll probably just be ordering some god awful Cantonese dish)

After the exam was formally over, the stewards then took forever to collect the papers. I smashed through several barriers of discomfort, thinking each time that I was about to lose control.

Finally, finally, finally, we got out of the room and I headed to the bathroom quick smart. Only to find there was a long queue.

At last, I got to a urinal and did the longest piss of my life. It would have been 2 - 3x longer than any previous record. Not that I keep record or time these things, but that piss was incredibly long.

TL;DR version - don't drink too much water before the exam and/or make use of toilet breaks.

Haha, very familiar case ...

Not sure if this is healthy or not, but one of my colleagues forces himself not piss for a long enough time in order to enjoy every single second of his piss process.

On: QBank.

Snootchie Bootchies

4/21/13

If you can't pass level one, give up.

4/21/13

Lots of mocks...You probably have 4-5 mocks on hand if you got prep materials from a supplier...Cycle through them from now until exam day.

Do them one section at a time (i.e. Mock #1 AM Session), go back and grade it, and then go back and skim the material for the ones you miss and do some EOC questions to drill that point.

Even during the week you should be able to get at least 1 session in, graded, and reviewed. On weekends you should be doing it all day (save for meal breaks).

Don't stop when you've gone through them all, just go back to the first one.

If you've got time, read Ethics and any bits of FRA you don't have 100% on lock.

4/21/13

Assuming you studied with Schweser/Elan, use the last month to do the EOC questions from the actual CFAI text, especially for the heavily weighted topics. These questions are most similar to the exam and will reveal anything you didn't pick up from your study guides.

Make tons of flash cards... try to have a card for every LOS, especially for the heavy weighted topics. Review a chunk of them daily and review the entire pile every day of the final week.

Take 3-6 mocks including the CFAI official mock. Aim for 70%+.

Take a week of vacation prior to the exam so you can put in some 8-12 hour study days in the final week.

Mix up your studying to put in 8+ hours in a day. i.e. 2 hours of flash cards, 6 hours on a mock, 2 hours reviewing mock, 30 mins on Ethics Qbank, etc.... with some breaks of course.

Again, focus on the heavily weighted topics if you feel overwhelmed. You can easily pass by guessing on sections with a 5% weighting, but will fail if you have to constantly guess on the sections with a 15-25% weighting.

Relax. Take it easy the Friday afternoon before the exam. Remember you only need ~67% score to pass, and you'll get ~33% of your guesses correct, so you only need to be an expert in about half the material...

4/21/13

Passed Level I last June.

Two most important things:
-Pound through as many practice questions as possible, especially on those subjects with the most weighting like Financial Reporting & Analysis.
-Try to take 6+ exams. Your first few are going to be brutal, but keep your head down and keep grinding. You'll see those scores rise above 70 towards the end.

Additionally:
-Try to make flashcards. I've found that writing down concepts and reviewing tricky problems helped me nail them down. I probably made 500+ and would review them periodically.
-There are a few CFA exam apps that you can get on your phone. I would review these while commuting to my internship and at lunch. Every little bit helps.
-Review the Ethics portion in your last few days. These guys are tricky, so try to know every small trick in the book that they can throw at you.
-Try to take the last week off from work so you can get in some long days with full-length mocks and reviews. These will help with any last-week studying to brush up on troublesome topics.
-Arrive really early to the testing session. You never know what might happen that could slow you down. Traffic jam, car breaking down, etc. Better to be early than risk being shut out of an exam you spent half a year prepping for.
-Make sure you use the bathroom before entering the testing sessions as noted above. Nothing worse than having your back teeth floating when you're halfway through the exam.
-Make plans for a party the night of - you're going to need a drink.

ask why, asshole

4/21/13

Duplicate post.

ask why, asshole

4/21/13

here's what helped me pass L1, remember that each question is completely independent. if it's a concept you don't understand, skip it. you have a limited amount of time, so make a first pass at the concepts you know cold (like inventory turnover, ROE, easy stuff), and then focus on the tougher problems later. this is the one thing that I think really helped me out.

"The four most dangerous words in investing are: 'this time it's different.'" - Sir John Templeton

"The investor's chief problem - and even his worst enemy - is likely to be himself." - Benjamin Graham

4/21/13

Schweser QBank and EOC questions until your fingers fall off.

"The power of accurate observation is commonly called cynicism by those who have not got it." - George Bernard Shaw

4/21/13

Lol #3 is pretty rare to say the least...

4/21/13

Now if only this could help me on the morning session of Level 3....

4/21/13

Best of luck guys! I remember the agony I had to go through for my exam. :D

4/21/13

LEGGO

4/21/13

5. is actually true

"After you work on Wall Street it's a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side." - David Tepper

4/21/13

Oreos:
5. is actually true

Which part? That the order you receive your results has some bearing on whether you passed or not? Or that hitting F5 repeatedly makes emails arrive more quickly?

"My caddie's chauffeur informs me that a bank is a place where people put money that isn't properly invested."

4/21/13

mikesswimn:
Oreos:
5. is actually true

Which part? That the order you receive your results has some bearing on whether you passed or not? Or that hitting F5 repeatedly makes emails arrive more quickly?


All. I had 4 computers logged into my email and 6 blackberrys too. then at 30mins past when i was meant to get the results i started walking West (i was in the UK) to get closer to the signal from CFA HQ.

worked like a charm. first time passes....

"After you work on Wall Street it's a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side." - David Tepper

4/21/13

Oreos:
mikesswimn:
Oreos:
5. is actually true

Which part? That the order you receive your results has some bearing on whether you passed or not? Or that hitting F5 repeatedly makes emails arrive more quickly?


All. I had 4 computers logged into my email and 6 blackberrys too. then at 30mins past when i was meant to get the results i started walking West (i was in the UK) to get closer to the signal from CFA HQ.

worked like a charm. first time passes....

You sir, are a genius. I kept hitting F1 to ask Microsoft Help if they could get them faster. Needless to say, not an effective method. Lesson learned.

"My caddie's chauffeur informs me that a bank is a place where people put money that isn't properly invested."

4/21/13

Brush up extensively on level 1 material, particularly FSA. A lot of carry over (of course) that isn't rehashed thoroughly in level 2 study materials.

Fear is the greatest motivator. Motivation is what it takes to find profit.

4/21/13

If you haven't yet, switch your candidate email from hotmail/gmail to your work one. CFAI sends emails by service providers batches, meaning they send all gmail ones at once and it takes forever, while the work ones are probably only a handful and you will receive it much faster.

I was by far the first one to receive the results, while my friends with gmails got them over 90 minutes later.

4/21/13

Unforseen:
If you haven't yet, switch your candidate email from hotmail/gmail to your work one. CFAI sends emails by service providers batches, meaning they send all gmail ones at once and it takes forever, while the work ones are probably only a handful and you will receive it much faster.

I was by far the first one to receive the results, while my friends with gmails got them over 90 minutes later.


haha this is bullshit. trust me. i had it to work email (not because of this bro science) and it took hours...

"After you work on Wall Street it's a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side." - David Tepper

4/21/13

Oreos:
Unforseen:
If you haven't yet, switch your candidate email from hotmail/gmail to your work one. CFAI sends emails by service providers batches, meaning they send all gmail ones at once and it takes forever, while the work ones are probably only a handful and you will receive it much faster.

I was by far the first one to receive the results, while my friends with gmails got them over 90 minutes later.


haha this is bullshit. trust me. i had it to work email (not because of this bro science) and it took hours...

you fail brah?

4/21/13

"My caddie's chauffeur informs me that a bank is a place where people put money that isn't properly invested."

4/21/13
4/21/13

"Don't quit. Suffer now and live the rest of your life as a Champion" - Muhammad Ali

4/21/13

Equities are for chumps.

4/21/13
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