CFA L1 + GMAT + TOEFL, is it possible?
I'm willing to take all the tests in June next year. I'm willing to study for 8 hours everyday for CFA L1 for 4.5 months(that's around 1000 hours). I'm a first timer so I don't want to risk failing. Another 4 for TOEFL & GMAT only. So that's a total of 12 hours, and apply to several MSF programs in November. I've done it before for my undergrad exams to improve my GPA, I already have a couple internships in a BB & a boutique so I think that's enough. My undergrad was business so I have some basic knowledge. I can easily crack the FRA, corporate finance, & Ethics parts of L1, the others will need some time to master. Do you think I can do it(I haven't taken the exam before) along with GMAT and TOEFL or should I drop it? On average, how long does it take to read the whole curriculum?
No way it should take 1000 hours to prepare for CFA Level 1. If you're not working, you could easily easily easily study for CFA Level 1, GMAT and TOEFL by June.
When I was studying for the L1 exam, I knocked out one Schweser book per weekend, and reviewed the material during the weekdays after work. I got started a bit late, but this left me with ~2 months for pure review and practice time which is approximately the sweet spot according to most people. As a caveat however, this is far from an ideal study plan as my social life and mental wellbeing took a beating from the approach.
IMO, you shouldn't force the CFA based on your current position. Firstly, you can get through the program much faster if you opt for the next winter exam date as you will have the chance to get through all three exams in 18 months. Also, getting into the best possible MSF program will have more weight on your market value than the CFA L1, and given that you won't be getting your exam results until next summer, you won't be able to leverage anything related to the CFA in MSF applications.
On the other hand, you will have less time for the GMAT, TOEFL, and extracurricular activities which would probably do more for your chances of getting into a better school. While in school you will probably have an adequate amount of time on your hands to start the CFA. You shouldn't underestimate the sections you listed. Even if you have prior experience in these subjects, the material is expansive, tricky at points, and is very highly weighted in your exam score. In my opinion it would serve you better if you held off on starting the CFA exams until the next date for the above reasons, but props for the enthusiastic and motivated attitude. Best of luck whichever option you choose!
When I was studying for the L1 exam, I knocked out one Schweser book per weekend, and reviewed the material during the weekdays after work. I got started a bit late, but this left me with ~2 months for pure review and practice time which is approximately the sweet spot according to most people. As a caveat however, this is far from an ideal study plan as my social life and mental wellbeing took a beating from the approach.
IMO, you shouldn't force the CFA based on your current position. Firstly, you can get through the program much faster if you opt for the next winter exam date as you will have the chance to get through all three exams in 18 months. Also, getting into the best possible MSF program will have more weight on your market value than the CFA L1, and given that you won't be getting your exam results until next summer, you won't be able to leverage anything related to the CFA in MSF applications.
On the other hand, you will have less time for the GMAT, TOEFL, and extracurricular activities which would probably do more for your chances of getting into a better school. While in school you will probably have an adequate amount of time on your hands to start the CFA. You shouldn't underestimate the sections you listed. Even if you have prior experience in these subjects, the material is expansive, tricky at points, and is very highly weighted in your exam score. In my opinion it would serve you better if you held off on starting the CFA exams until the next date for the above reasons, but props for the enthusiastic and motivated attitude. Best of luck whichever option you choose!
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