How to succeed in CFA

CFA is the most professional degree on finance which consists of 3 levels in total. Passing marks for CFA level-1 comes within a 35% to 45% bracket, in level-2 it increases to 42% or so, and in level-3 the passing marks increases between 45% to 55% or so. CFA level I is not very difficult to clear if you give yourself approx 4 months to prepare. But, you should start the preparation as early as possible. This will give you enough time to understand all the concepts and apply it in several ways. The following method is appropriate if you are a beginner with no finance backgrounds.


Taking coaching from a well-renowned institute and being mentored by a specialized teacher is also necessary for the exam point of view. There is lots of resources available online. It is essential to study from an institute which provides relevant materials.






MATERIAL:

  • All the subject books along with practice books.

  • We would like suggest you to go through the questions which is end of every chapter and also go the examples in between. This is the bible. In case you didn't understand any specific concept in Schweser, refer the material.

  • Do Official Mock test regular.

  • Chapter Questions from the curriculum also help you to Practice well.

  • There are few reputed publications in the market which have developed notes for the exam which is relevant for the aspirant.


There are three critical prep materials for level I and level 2.


  • First is Schweser notes. They were very helpful as they were a lot more concise and clear than CFA textbooks. We read through the notes three times and did all the practice questions at the end of each topic. The first time took me the longest (a couple of months) to go through as we weren't familiar with the contents. But it got quicker for the second and the third times.


  • Second is whole the MCQ questions in CFA textbooks. Most of these questions are very similar to the actual exam questions. We did all the questions over three times, so when we were in the actual exam, all the questions felt so familiar to me.


  • Third is CFA provided to candidate's two mock test exams which is also very important. We did the two mock exams a week before my actual CFA exam to test my preparation. We felt mock exams are harder than the actual ones. If you'll recover from the 55% correct, you should be able to pass the exam.


  • For Level 3, We used the above three materials to prepare for multiple choices. To prepare for the essay section, we used the historical questions which are available on the CFA official website. These questions is that CFA also provided official answers, which are excellent guidance.


There are a lot of tips and tricks on how to prepare for the CFA exam. You can find quite a long list of tips and tricks here:

CFA tips and tricks- how to crack CFA program - Credit Fair educational website.


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