1 Month CFA Study Plan

Background: I am a recent MSF graduate who will be starting an IB position in late June. Additionally, I was stupid enough to think I would have (read: make) time to study for the CFA during the spring semester.

I have to take level 1 in June, have done minimal studying, and need an idea of what I should allocate my time toward. I'm starting with the Ethics section, but need to know which other sections are worth studying in depth, given that I've got a reasonably strong background in finance and test well.

 

Make sure you have largest weighted sections down (FR&A, Quant, Ethics, FI/Equity). Personally, I'd save Ethics for last. With only one month, I'd basically prioritize highest weighted sections, browse end of lesson reviews for other lesser sections, and take as many practice exams and reviews as possible.

People demand freedom of speech as a compensation for freedom of thought which they seldom use.
 

1. Resource Planning

If possible, take 1 week off work prior the exam. This can be a study leave allowed by your kind employer, or use your personal holiday allowance to do this. You need to be focused and not be further burdened by work stress and obligations especially the week before exam. I've done this since Level 1 and it has worked wonders.

 

Save the this for the day before because it's pretty much just memorization. Other than that, these guys got it right, prioritize the heavily weighted sections and ignore the small ones.

 

Don't underestimate the value of scoring well in the ethics section. It can make or break your chances if your score is very close to the minimum passing score. I mean, people talk all the time about the urban legend of the ethics adjustment....borderline candidates with poor scores in the ethics section don't pass. I would not take the chance.

Other than that a lot of the test methodology revolves around memorization...even if you have a good grasp of the general topics make it a point to know by heart as many details as possible.

 

L1 is a joke and most of the stuff should've been covered already. I'd be more concerned about your commitment to get the CFA Charterholder given your background. Passing level 1 is fine but what about level 2 and 3? Those will require significant amount of time commitment and they aren't some exams you can pass because you've learned the concept already.

 

Took the exam yesterday, pretty confident that I passed (estimate based on 0.85confident answers+ .33unsure answers > 70%). Studied for approximately 75 hours, consisting on full ethics review (scribed notes etc) + practice exam with notecards created for missed questions. Hope this helps other people but I'd suggest allocating more time if possible.

Life's is a tale told by an idiot, full of sound and fury, signifying nothing.
 

Hi techie,

We may have got different tests. I think there were 2. The AM was fairly straight forward for me and I finished them on time. For PM, ethics are tricky for me, and I saw myself guessing a few in the first half of the PM section. The latter half of PM was a lot better. Overall, I am putting myself at a borderline position based the number of guesses + iffy + pretty confident answers.

Best of luck to all candidates. I'm sick and tired of this test.

Dawg

It's a dawg eat dawg world.
 

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