Without adequate passion and courage I think it is virtually impossible to pass out the CFA exam. Specifically in Level I and Level II when the 'transformation' is going on, desired level of courage, rationality and motivation is inevitable. The ability to translate that determination into practical and useful steps is another inner drive which helps at later stages (in March April when most of the syllabus is done). In other words it is not only about passion but also 'scientific management' which helps in passing the exam. Here are some useful steps which could be helpful in managing yourself up.
1. Choose a suitable material right away so start your preparation
2. It is not necessary to follow the flow provided by CFA Curriculum, you can start with the subject you think you can do easily to build your confidence.
3. Organize yourself up. Passing the exam is about adopting a routine.
4. Read Well! It is not about the 'no. of hours' but the quality time which you have spared and utilized.
5. Highlight and underline the important areas, make summaries, graphs and diagrams while reading.
6. Abandon thinking about failure. Remember once you are done with the exams and will step in to the market the ultimate thing would be how excellent you are! Even if candidates fail in their first attempt they still gain some knowledge and experience of the exam routine. Study to make yourself excellent not successful. Exam is a short term goal while excellence in the career is a life long objective.
The importance of "Reading Well" and highlighting important key points will be experienced once you are done with your first reading and aim to revise before the exam. Several tips about the exam have already been shared by me. The time has come to start preparations for Level I & Level II exam. Better built a streak from today to be in time and pass the exam.
Very good article, but I think it does matter in which sequence the material is studied. I would definitely start with ethics and quant.
ReplyDeleteAlso, I think it's very helpful for candidates to interact with each other. If you can explain some of the concepts to each other, you have a huge advantage over studying alone.
I am planning to start with questions which came into my mind while preparing for LI and how I figured out their answers plus a Glossary section to discuss concepts.
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