CFA - Schweser question - suggestions for how to study welcomes

I am planning on taking the first part of the CFA exam in June of 2014 and want to start studying a little bit. I have no idea which approach to take. The only thing I know and have been told is not to completely read and study the CFA books. With that said, can I get the Schweser notes for the 2014 test right now? Do they change each test? I want to start prepping right now but am just clueless on where to start...also how much can I get the Schweser notes for?

Any help would be greatly appreciated!

 

There are two schools of thought on this, but I am in the camp that says to stay away from Schweser. They're incomplete and simplified. I would suggest to wait until the actual CFAI books come out and put in the hours to go through those cover-to-cover, including every end-of-chapter and blue box question. Schweser Notes won't change drastically from one year to the next but they also aren't identical. If you really insist on getting started with Schweser, they are all online (not that I would know hehe), just look around (if you choose to go that route).

 
Best Response
subasic:

I am planning on taking the first part of the CFA exam in June of 2014 and want to start studying a little bit. I have no idea which approach to take. The only thing I know and have been told is not to completely read and study the CFA books. With that said, can I get the Schweser notes for the 2014 test right now? Do they change each test? I want to start prepping right now but am just clueless on where to start...also how much can I get the Schweser notes for?

Any help would be greatly appreciated!

I second this, man up and study the CFA books. Also, if you aren't taking it until June 2014 why start now? You will just forget most of what you study in the next 4 months by then anyways . November at the earliest. I never started any of them until January. Unless there is a topic you are very interested in don't start too early because you'll just get burnt out. Enjoy yourself for awhile. If you want to get started now then you might as well take the December Exam, Level 1 isn't too hard if you put the hours in.

 

Good point but what do you think the study materials are based off of? I would rather review a succinct overview of material 3-4x than the entire CFAI curriculum 1-2x, most of which you will fail to retain because there is so much unnecessary content. Personal preference I guess. I will definitely give you that the study providers often miss parts of sections. I found the PM sections to be a poor reflection of the actual CFAI PM section.

 

I only studied Schweser for level I and passed. You need to plow through questions for level I, and there's no better way than to go through Schweser. The CFAI text is incredibly dense, and you'll be hardpressed to retain any significant amount of information.

Calm down.
 
junkbondswap:

Good point but what do you think the study materials are based off of? I would rather review a succinct overview of material 3-4x than the entire CFAI curriculum 1-2x, most of which you will fail to retain because there is so much unnecessary content. Personal preference I guess. I will definitely give you that the study providers often miss parts of sections. I found the PM sections to be a poor reflection of the actual CFAI PM section.

The thing is that the cfa exams are getting harder and harder and the cfa people are increasingly making it a point to test small obscure details that wont be in schweser, to see who actually did the reading.

At the very least if youre going to go the schwser route make sure to know every problem and equation in the cfai books, would be my advice. Either way i would take qbank with a shaker of salt...it was absolutely atrocious for L III.

 
HFer_wannabe:

It's what I used and loved it.

What, specifically, did you purchase? And what you would you recommend/not recommend purchasing to get level 1 passed?

"We're not lawyers, we're investment bankers. We call you for the paperwork. We didn't go to Harvard, we went to Wharton, and we saw you coming a mile away."
 

yes you'll be just fine. Not at all condoning this but there may or may not be updated material you can download on a website that rhymes with "smirate smay"....think about it

Here's the thing. If you can't spot the sucker in the first half hour at the table, you are the sucker.

Just google "2012 2013 cfa LOS changes" and look at the curriculum changes. The "passing scores" has comprehensiveness list of changes. I'd link you but apparently I don't have enough points to post links.

I would say probably not since it's mostly the same. For the sections that are new, just refer to the new CFA books I imagine you got when you registered (at least the e-books). There's not too much new so it shouldn't be too much of a pain.

 
jpat:
Just google "2012 2013 cfa LOS changes" and look at the curriculum changes. The "passing scores" has comprehensiveness list of changes. I'd link you but apparently I don't have enough points to post links.

I would say probably not since it's mostly the same. For the sections that are new, just refer to the new CFA books I imagine you got when you registered (at least the e-books). There's not too much new so it shouldn't be too much of a pain.

http://www.passingscorefinance.com/LOS/2012-2013/cfa_loschanges1.pdf

Is this what you're talking about?

MM IB -> Corporate Development -> Strategic Finance
 
swordfish712:
Schweser has been well accepted to be sufficient for prepping for L1. I used it pretty much exclusively and passed with all but one section 70%+.

Seconded.

Didn't take the mocks (used the CFAI mock though), but apparently they are pretty good.

"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."
 
whatwhatwhat:
in addition, definitely do the cfai mock exams. if you can get access to it, take the bsas mock exam. elan guides also has a free mock exam on their website. the format might be a bit different among the various mock exams but you will still be able to pinpoint sections that you need to work on regardless of the format.

Yeah, I have looked at CFAI's mock; unfortunately, it looks like they only give you one and make you pay for extra ones. You'd think with the cost of the program, you'd get more. I have the two Schweser books with 6 total mock's and plan to do all those.

 

Welcome to the month of hurt guys. This is going to suck!

"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
 

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