When reading notes, plan to work through a few topical questions at the end of each reading. Plan to finish reading through your notes early, and get started on full practice exams weeks before exam day.
An actual timed practice exam will tell you if you need to worry about time a genuine concern for Level 1 , and also gauge your current performance when you grade it. Aim to finish about 6 exam sets 1 set equals 2 x 90 questions in total, more is better. In the midst of all this hardcore studying, it pays dividends to take a few minutes to sort out logistics of the exam day.
A few weeks before exam day, read my article on what to bring and how to get there, and if you live close enough you might want to visit the test centre beforehand.
Do not trip at the finish line because you prepared badly from a logistical side. A forgotten passport realized too late is all it takes. From the sheer volume of questions in Level 1, the risk of not completing the paper is always there. There is no penalty or negative marking for guessing. This might sound obvious, but the CFA Institute is very, very strict on exam procedure and behavior. If a proctor reports that you could be in breach of the rules, all your work is in jeopardy, and this happens to candidates every year.
Following the exam, please do not compare or discuss questions, or attempt to recreate the exam. You will get busted and banned from taking future exams. Level 1 may be daunting, but the advice above should steer you on the right direction for a solid head start.
Any questions? Control, Motivation, Knowledge Retention! Below we present a list of level 1 and level 2 CFA exam videos we made available for free at Soleadea. Please note that you may need to update your CFA exam level in your profile to see the videos. The whole video package consists of around high-quality video lectures altogether , each with the average duration of 12 minutes. The total recorded level 1 CFA exam study material is around 40 hours.
You can also find many level 1 exam concepts explained on our blog. While writing, we often include exam-type questions to show you what to expect in your exam and to encourage you to practice while you study.
What is important here is that you'll have 1. Also, we distinguish 3 types of level 1 questions: theory, computing, and reasoning questions.
Theory questions mean you'll need to show your knowledge of different financial concepts and their definitions, as well as of various models, theorems, or principles. Computing questions will require competence in using your financial calculator and doing the math. Reasoning questions demand the ability to see relations between concepts, associate things, and think logically.
You will be provided with writing tools such as an erasable writing tablet. It is common knowledge that you need approximately study hours to get prepared for your level 1 CFA exam.
Take 5 months of prep, for example. It gives you an average of 60 hours per month, i. It is hard to control hours or even 60 hours. But 15 hours a week? That you can control! So, break down those hours to smaller study times you can easily control and manage from week to week of your exam prep. Otherwise, procrastination may seriously endanger your CFA exam preparation. It is too easy to postpone, especially if the consequences are delayed into the future.
Many people choose to overlook these consequences in favor of immediate gains such as a night with a movie instead of curriculum.
But, in the end, they end up with too many readings piled up and impossible to cover before their exam. That is why you need to constantly maintain your motivation to study week by week.
What it means is that the effective pass rate is even lower! Procrastination and lack of motivation are also a problem when it comes to revision. The majority of candidates put off reviewing the study material until last weeks before the exam, which is a huge mistake.
Benchmark study times for weeks and readings and a proper review system in place make it is easier to stay motivated and hold tight to the benchmarks and recommendations, and then to pass the exam. If you're looking for some free CFA exam study materials to help you understand your CFA Program curriculum, here's a bunch of blog posts explaining some issues. Apart from theory, you'll also find there some exam-type questions. Also, we've got some free videos for you.
We suggest you use them twice. First — to get familiar with the most important concepts before you dive into your books. As a level 1 candidate, you also need to know all CFA exam rules and regulations. There are many but your failure to be in compliance may result in your inability to take the exam, voiding your level 1 CFA exam result or even suspension in the CFA Program.
For most important CFA exam rules, go here. However, the November level 1 CFA exam results should be available approx.
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