I just started as a valuation consultant and I’m already looking ahead to make a move sooner rather than later. I’m planning to take CFA Level 1 and hoping it’ll help my case when recruiting. Do I need to buy separate study materials (Kaplan, Wiley), or is the content on the CFA Institute’s website enough to get through? If you’ve gone through Level I recently, I’d really appreciate any advice on how to approach it and what worked best for you.
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Based on the most helpful WSO content, here's what you need to know:
Study Materials: While the CFA Institute's official curriculum is comprehensive, many candidates find it dense and time-consuming. Third-party providers like Kaplan Schweser or Wiley are popular because they condense the material, focus on exam-relevant content, and provide additional tools like practice exams and question banks. If you're balancing work and study, these can save you significant time.
Approach:
Third-Party vs. CFA Curriculum: Some users have noted that third-party materials may skip certain details found in the CFA curriculum. If you rely solely on Kaplan or Wiley, supplement with the CFA curriculum for areas you find unclear or for additional practice questions.
Self-Discipline: The CFA program is self-paced, so staying on track is crucial. Use the CFA Institute's recommended study timeline as a guide.
Full-Time Work: Since you're working as a valuation consultant, balancing work and study will be key. Dedicate specific hours daily or weekly to ensure consistent progress.
In summary, while the CFA Institute's materials are sufficient, third-party providers like Kaplan or Wiley can make your preparation more efficient and focused. Pair these with a disciplined study schedule and plenty of practice tests to maximize your chances of success. Good luck!
Sources: CFA vs Self Study, What Distinction is Better - CFA®, MBA, or CAIA?, https://www.wallstreetoasis.com/forum/asset-management/how-long-did-you-all-study-for-the-cfa-level-one?customgpt=1, CFA Selling Dreams, CFA Prep Materials - starting now for June 2020
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