If you want to invest your study time with a prep provider that optimizes your chances of success on the CFA exam, click here for a FREE trial of our CFA Level 1 Exam prep. The more time you have each week to study, the more flexibility cfa level 1 prep time you have. Others who might be working full time, have a family, and social accountabilities have a lot less flexibility. You also have to pick a prep course that offers the platform and content that meets your needs.
The exam day will generally be the first Saturday of the month. The exam registration opens at least 11 months before the exam so you have enough time to make up your mind about the exam; however, it is advised that you register early. CFA institute’s website has a detailed CFA Program Calendar.
During the normal course of the exam, candidates may find they need assistance from proctors. Proctors will come to workstations as quickly as possible to assist. If able, we encourage candidates to continue working on their exam until a proctor has assisted. Our exam writers have designed the exam to account for minor disruptions or pauses in order for candidates to still have adequate time to respond to all questions. These topic weights were used to develop a Level I study plan you can follow to ensure complete coverage of the material. Our CFA Level I study packages are built to replicate the exam, leaving no surprises on exam day.
Now, Financial statement analysis is difficult due to the volume itself. So, as you start reading FSA, you realise the subject almost takes two months of your preparation time. Next, fixed income is difficult just because most of us have never purchased a bond in our life. Hence fixed income becomes difficult because of perspective.
Candidates should take this section seriously given its increased importance in recent years and the fact that it has a somewhat larger weight in Levels II and III. At this stage, we must understand that we have very less time to use the traditional method of CFA level 1 exam preparation. Hence we have first to ascertain the effort which is required and then work our way towards execution from there. Read this post to know about 2 weeks of studying to gain 5 lessons of CFA level 1 preparation. Taking a two to four-week study leave from work during the final stage of your training will also be wortStage I of the one-month study plan for CFA level 1. Your most significant CFA investment is your time, so use it effectively.
Having taken the CFA Level 1, 2 months is not enough to prep for it. Mind you, this doesn't include your day to day workload and whatever may come up. Good luck if you gun it, but if you ask me, take your time and do it in December. If you’re serious about passing the CFA Level 1 exam, you do need to put in the study time. Sure, you could still pass with a shorter study time if you have the right background and smarts, but you would be taking a high-risk route, and have a strong chance of failing.
The one thing standing between you and success on the Level I CFA® Program exam is hard work. CFA Institute recommends you aim to spend at least 300 hours preparing for the Level I exam. Schweser’s Prepare • Practice • Perform® methodology gives you the structure you need to get the most out of the time you spend preparing. To maximize the saving, aim for early bird CFA registration, which is as early as 9 months before the exam day. The Level I exam consists of 180 multiple-choice questions, split between two 135-minute sessions (session times are approximate).
In addition to end-of-chapter questions, you would not have time to practice questions throughout the week. Therefore, arrange to spend an extra two to four hours on practice questions over the weekend. Don't forget, the more you practice, the greater your chances of taking the exam successfully. But depending on your background, time management skills, and prep course, you can make the most of each hour, thereby significantly cutting down on wasted study time. For example, with The Princeton Review, you should be able to set aside your distractions and complete your preparations for the Level I CFA exam within 120 hours.
Unlike FRM, the CFA program doesn't impose any time limit between levels, nor impose any time limit to complete all 3 levels. I've even heard of one candidate having a 7 year gap between Level 1 and Level 2 due to life events – it is certainly helpful to have such flexibility.