CFA Level 1 6-Month Study Guide

CFA Level 1 6-Month Study Guide

Topics that have both (considered easy and have a low topic weighting) should be given the least attention. The table below illustrates how candidates can allocate their time. The table has considered the topic weightings of the various topics, giving more time to the most weight topics. Each year, the CFA Institute computes a minimum passing score (MPS) for its exams, which changes each time the exam is given.

An automated timer on the website helps candidates manage the time they spend on any one question. On the exam, each question should be tackled within a maximum of one and a half minutes on average. Here are the average topic weightings and the average number of questions of the various level I topics. Understanding these topic weightings is crucial in helping a candidate, especially one with limited study time, know where to start and finish. To effectively manage your time, you should follow the steps listed here, which are based on the time you have available.

CFA Study Guide: Months 5-6

Ultimately, if you have the right prep course, a reasonable knowledge of basic algebra, and an analytical mind, you should be great. Those of you with stats backgrounds will find a mix of review and new material. You will also see the Sharpe ratio, correlation, covariance, and return variance of a two asset portfolio. These latter concepts appear in multiple sections, across all three levels. Also, some of these problems can be time consuming, so you must practice and know how to do it before test day.

• The Question-Bank is an interactive study tool to help you improve your exam score.
• Help yourself get out of the rut with a customized exam-like experience that helps you improve your exam score.
• All of our problems reflect the latest CFAI LOS to ensure you review what candidates are expected to know.
• We focus on the level 1 exam but all the ‘how’ guidelines are also addressed to level 2 and level 3 candidates.
• Our comprehensive formula sheet includes all the formulas you need to know for the exam, in an easy to read format.

In fact, just for economics, I wouldn’t mind switching to Schweizer. You can in fact check the June 2019 CFA exam survey to read this detailed report. Since time is of the essence you will want to be ultra focused. I recommend over-laying your strengths and weaknesses against the following rankings and allocating your time accordingly. The list below starts with the most important and works down. The Derivatives section of L1 is really more of a teaser of things to come; L2 and L3 will get more intense so enjoy L1.

CFA Level I Exam Study Planner Calendar

As such, these 90 hours of study times should probably be incorporated after each reading or after each topic. At AnalystPrep, we recommend that candidates split the 300 hours into reading time (150 hours), practice time (90 hours), and mock exams time (60 hours). For candidates who are employed on a 9-5 schedule, as most CFA Program candidates are, 150 hours translates to three months. Ninety hours translate to roughly one month and three weeks, and 60 hours to roughly one month and one week. You should complete one mock exam every two to three weeks, but save one for about one week before your exam date. Once again, pay careful attention to those questions that you missed or guessed incorrectly.

The CFA Institute does not make this score available to the public, but test prep providers believe that scores above 70% should usually constitute a pass. They also estimate that the passing score could be as low as 56% in some years and as high as 74% in others. The natural next step is to consider if you would need additional prep materials. This depends largely on your study style and how you learn best – check out Offers section for exclusive 300 Hours readers discounts. If you have not completed these tasks, they should be your top priority. Also, you are probably asking yourself what are some of the best strategies you can use to wrap up your preparation for exam day.

CFA Exam Study Tips

The Question-Bank is an interactive study tool to help you improve your exam score. The best thing you could do at this juncture is to know where you stand against where you should cfa study plan by sticking to study schedule. So, if you want to keep your chances high, make sure you divide your time and also consider the difficulty of the subject based on your background.

Try Now – High Quality and affordable study notes, practice questions, and mock exam. Remember that time is of essence not only when preparing for the CFA exams but also when attempting them. CFA Institute requires candidates to use a minimum of 300 hours to prepare for the CFA exams, and the actual exam is to be attempted in 2 sessions of two hours and 15 minutes each.

My Recommended Study Plan for CFA level 1

The mock exam will help you to be well prepared physiologically for the exam. This statistic indicates that only dedicated candidates are likely to pass the exam, so be prepared to make the necessary sacrifices and put in the required effort. And remember, passing Level I is only the first step to receiving a CFA Charter—there are two more rigorous exams to go. It’s vital because if you need some time off – you need to study more in all the remaining weeks. Oh, and don’t forget to plan some regular revision sessions during your study weeks.