Am I screwed for the CFA?
Hi guys,
Been a bit of a forum lurker so far, but I am looking for some advice. I am currently in my final year of a degree at a non-target (UK), and so I am taking the CFA Level 1 on December the 1st. The only issue is that I have covered next to none of the content so far (due to internship applications, dissertation writing, and other general life issues).
When I work through the content is is not particularly hard, more so that there is just a lot to read and cover, alongside many other University commitments (although I know that these do not compare at all to people studying for the CFA whilst working full time!)
My question is will I be able to cover the course in time for December 1st to pass, and if so how many hours a day should I be studying?
Other (possibly) helpful info: - Economics degree: so hopefully that book will be easy to cover - Spent a year in audit pre-university: so hopefully will help with FR&A - Already covered ethics, and will have finished fixed income by this weekend
Thank you so much for your help and advice!
Kind regards, RM
Whilst not an ideal amount of time, I did it last year and had only finished Ethics and FRA by 01/11. I took two weeks off work before the exam, studied a solid 6-7h/day (ie. all day with a load of procrastinating) during those 2 weeks and passed. Didn't look at economics or quants in detail, just the pass-note type things from Schweser.
I'd say to read everything fast whilst doing the examples and take notes of what is likely to come up. Once done, re-read your notes, do mock questions on CFAI's website, do at least one full mock test and see where you are. By the time you've done all that it'll be exam day and you won't have time to change anything so just enjoy the day and think positively.
I've said it time and again, level 1 isn't that difficult because of what you're learning, it's the volume you have to learn that's the challenge. There are certain (rare) parts where the book will even tell you that something will never come up in the CFA exams, don't think "Oh I want to learn it anyway to increase my knowledge!" Nah fuck that, you don't have time, praise the lord and move on to a topic that might come up.