CFA candidates often ask if 6 months is enough to prepare for the CFA Level 1 exam. Especially if you apply the “safety comes first when preparing for the CFA exam” rule. This study strategy takes into account more than 300 hours of study and involves a periodic review of the content of the study. How do you get the CFA charter as quickly as possible? Years ago, I somehow managed to pass my CFA exams in 18 months while working full time.
Here is a summary of my study strategy for the CFA Level 1 exam with some useful tips, which I hope you will find beneficial to your preparation for the study. We address some of the most frequently asked questions about preparing for the Level 1 CFA and how to set up your curriculum, as well as specific tips to improve your chances of passing the Level 1 CFA. After passing all 3 levels, the CFA Level 1 is the easiest of the 3 exams. Other optional additional fees must be considered, such as physical books (if preferred), the rescheduling fee and the costs of third-party study material.
For a full breakdown of the total cost estimates for CFA Level 1, see our article on CFA exam costs. For those who are thinking of using the books from the previous year to study, it is worth consulting the latest article on changes in the CFA curriculum to see to what extent the curriculum has changed over the year. I have done it myself for all 3 levels of the CFA exams. I just purchased the basic study notes package from an external vendor (Kaplan Schweser) and studied on my own without classes.
It really depends on your learning and studying style, as I know some visual students who better absorb concepts through face-to-face or video classes. I'm just a person who reads books and paper, I'm easily distracted and prefer to hide in a quiet corner of the library to study. I'm not preparing for the CFA, but your advice on learning is very good, beyond these specific exams. Are you preparing for a particular exam? You can also find our article backed by research on how to effectively (in general) study its use.
The suggestions and guidelines help me understand much better. What is the passing grade for level 1? Chris: Hello, I just want to ask, I have to take the California exams in May and from then on it will be fine to try CFA level 1 in February or I will change my attempt in May. Please guide me so that I can enroll as soon as possible. Thank you Hello, I am currently studying for the CFA L1 with the Wiley option Platinum.
Is it OK to just focus on using Wiley products instead of the CBOK? Hello, please tell me what study material I can use if I only have 3 months to prepare. I know that this is a short time, however, I have done my master's degree with a specialization in Finance and I am looking to improve my qualifications mid-career. Regards, Betsy Regards Betsy And if I choose to do an internship at an investment bank instead of at CFA, what would you recommend to me? Thank you Sophie for the advice and the Information. And it makes studying for the CFA seem realistic.
Juss wanted to ask after studying engineering if, in your opinion, a CFA is worth doing. Thank you and may God bless you for your encouragement. Y) I like the way you have planned your CFA course in a matter of 18 months, which has undoubtedly boosted my morale. Save my name, email, and website in this browser for the next time I comment.
Notify me of responses to my comment by email. You can also subscribe without commenting. The number of hours spent studying is also an important factor. Four months of studying 1 hour a day is different from 3 or 4 hours a day.
The CFA recommends about 250 hours to pass level 1, I think in total it took me about 400 hours. Starting preparation 7 months before the CFA Level 1 exam is a good idea. It means that you want to take the exam seriously and that you don't want anything unexpected to ruin your plans. In this blog post, you'll find an example of a 7-month level 1 study program from November 2024, and here's a 6-month study plan for the CFA exam, if you prefer.
The following table shows the deadlines for all level 1 topics, including regular topic review sessions and one month of appropriate review before the November 2024 CFA exam. That's why, when I took the CFA exam, I also took a one-day-a-week course to prepare for the CFA starting in January, so every Monday I had a 3-hour CFA as my review material. As the rest of the posters said, and this one is from someone who passed level 1, but certainly not easily (he also studied finance at university), the CFA is a animal itself. I passed levels 1 and 2 in December and June and now I hope to reach level III with a touch of concern, since writing timed essays is not my strong suit.
In fact, I would say that with your specialization in Finance and 3.5 months of solid concentration without work distractions, you would have no problem following a coherent program of study for level 1.If you want to keep full control of your preparation for the CFA Level 1 exam, I encourage you to establish a study plan that you can adapt to your needs, but that encourages you to study. As you pass the levels (and I'm sure you'll do it with effort and determination), you can become a “CFA Level II candidate”, etc. It's a process of continuous improvement. Much of what you'll learn in level 1 is how to bring everyone up to the task, so work experience wouldn't have much impact on ello.
Hello, I just want to ask, I have to take the California exams in May and from then on it will be fine to try CFA level 1 in February or I will change my attempt in May. As long as you achieve an average of 300 productive hours of study, you should be well prepared for Level 1.
