Saturday, August 11, 2012

CFA (Chartered Financial Analyst) Preparation Tips

CFA institute Chartered Financial Analyst in Asia
CFA Institute, Chartered Financial Analyst
The CFA (Chartered Financial Analyst) is one of the most demanding examination in the financial field, it requires motivation, perseverance and discipline, indeed only 20% of the candidates will make it to the last level.
The CFA examination is divided into 3 levels, each requires you at least 250 hours of self-studies,

Preparation for the CFA Exam:
1) Register for the CFA test at least 6 months before the examination, therefore you can study 8 to 12 hours a week to complete the entire CFA curriculum of your level.
2) Each level is divided into 18 study-sessions, find out what you've already familiar with and start studying the parts you understand the least.
3) Schedule your studies for 1 month and at the end of the month summarize what you have covered and plan for the next month and so on.
4) Cover all the CFA topics within 5 months and use the last month to review each study-session
5) Make Flashcards with formulas and key concepts, bring it wherever you go, review it in the subway, at lunch, before sleeping, those flashcards are your best friends for the next 6 months, and it will be easier to carry it rather than the CFA books.
6) Quantitative part: the key to success is do exercises again and again until you understand it perfectly, do not just learn by heart the formulas, and remember your time is limited during the exam so you will have to think fast and correct.
7) Make sure your calculator is accepted by the CFA institute, use a financial calculator it will save you a lot of time for the time value of money calculations.
8) Stay healthy, keep some social life, you need to be balanced to study effectively.

1 Month before the exam:
1) I repeat you MUST have covered everything already and now it is time to review
2) Find all the question materials from past CFA exams, do it, understand your mistakes, and do it again
3)Every weekend, put yourself into the CFA environment : pencil, paper and calculator, limited time and NO NOTES NOR FLASHCARDS, evaluate your weakness, review the topic you understand the least
4)Take a week-off (or Two) before the exams, to review again and again,
Schedule type for the week-off: 4 hours study in the morning, 2 hours break, and  3 hours study and exercises in the afternoon, relax on evening

Exam Day:
1) Wake up early, sleep well don't stress you are ready for the exam
2) Don't listen to people talking about CFA before the exam, it will do nothing but increase your stress level
3) For CFA level 1, remember that you have 90 seconds for each question so manage your time efficiently, if you can't do a question skip it and do it at the end.
4) Don't skip any questions, if you are not sure about the answer guess it, you won't be penalize for wrong answer anyway.


edupristine said...

Here's wishing everyone all the best for the CFA Exams!

edupristine said...

For helping out CFA Candidates, we have put together a CFA Review course, visit here - for more details.

Dorothy said...

Many scholars would find it hard to answer the question- Which is better - CPA or CFA? Well, in my opinion, earning a qualification or degree is not sufficient, if you do not get a job opportunity as per your salary expectations. Therefore, one must know the advantages of having either of these certificates in your hands, so that it helps shaping your future in professional terms.

Post a Comment