Let’s use this estimate of 300 hours of reading and practice hours as a benchmark as a reference for a study schedule. The Chartered Financial Analyst (CFA) training for all three levels involves a significant dedication to a standardized study schedule. According to the CFA Institute, the average annual pass rate for the CFA Level I exam for the last ten years is 41% .1 percent. Just like equities, fixed income is also a sweet section and you can expect about questions from fixed income concepts.

You will need to answer total 240 multiple choice questions, 120 in the morning session and 120 in the afternoon session. The questions are designed by experts and are sometimes very tricky. However, as long as you know the subject you can answer them confidently. To make it in this certification, you must learn to pace yourself; don’t work all day every day, because you’re going to burn out if you do. You can choose to focus on a specific topic each week to help you prepare more effectively for your exams.

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You don’t have the luxury of reading through the entire content and revising. Let me take you through the strategy and flow of content for the CFA Level 1 Preparation. Also, carrying a positive attitude into the test can help you in concrete ways. Suppose you walk into the test incessantly worrying about how to pass the CFA exam. In that case, you’ll be so distracted by your worries that you probably won’t do well–but if you have confidence in your abilities, you’ll free yourself to function at full capacity.

That is why it’s important to start six months before the exam. Ultimately, if you have the right prep course, a reasonable knowledge of basic algebra, and an analytical mind, you should be great. The code of conduct, professional standards, and the Global Investment Performance Standards are all covered in this section (GIPS). The subject has between 27 and 36 questions, and the Institute takes this component very seriously. If a candidate’s scores on all other topics are low or close to the minimum passing score, the score on this part may determine whether the candidate passes or fails.

Quick tips for CFA level 1 preparation

To learn things and store them in our memories, we need to repeat them now and again. Based on CFA Institute’s June 2019 Candidate Survey, the average Level 1 candidate studied for 303 hours. This is in line with our experience that around 300 hours study is sufficient for passing Level 1.

Of course, he would only recommend binning subjects if you had no other choice and needed to prioritize. He strongly advises current CFA Level 1 candidates to avoid this. Find out which schools have the best track records for getting students jobs—and the highest starting salaries. When you register and get the books in the mail, you’ll probably see that a lot of the material is familiar. Obviously you’ve already paid for the test, so you should of course take it, there’s no reason to not sit for the exam – hey, maybe you’ll get lucky. I browsed through analystforum.com and the site seems great.

Ready to Begin Studying?

Preparing for the CFA exam is a big commitment involving time, expenses, and personal sacrifice. Respect the CFA exam plan to do better than an average candidate arrange ca. 400 study (and review!) hours to successfully cfa level 1 prep time prepare for your exam start your prep NOW, i.e. even 6 months before your exam. Taking these dates into account, allow yourself four weeks prior to the exam date to review questions and have practice sessions.

Just get the study guides, they are sufficient for L1 since most questions are pretty straightforward. I wouldn’t suggest getting the most expensive ‘best’ package though, it’s really not necessary for Level I. Standard books and practice exams is fine. Now all of the bluster here aside, remember that the majority will fail, and most will have considerably more time that 2 mo to prepare.

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Surely starting with the most favourite topic is to be encouraged. As for ethics, because it is so important at the Level I exam, we think it should be read early enough to be reviewed now and again between other topics. We are happy that you found our portal useful and we are looking forward to hearing from you again. Hello,
My name is Miguel and I started a couple of months studying for Level 1.