Sunday, September 9, 2012

5 skills to success in your CFA examination

5 skills to success in your CFA examination, Chartered financial analyst
CFA "Chartered Financial Analyst" is definitely the heaviest self-study examination you can get through in Finance, unlike some other certifications, the CFA will require you to be 100% into it to pass the 3 levels and become a CFA charterholder.
Here are some of the skills that every CFA candidate needs to be successful:

  • Be Innovative: do not follow the rules all the time, especially when you are studying for the CFA program, find the learning method that suits you, adapt it to your style and save precious time while studying for the CFA.
  • Initiative: Once you pass one CFA level, take the initiative and enroll for the next level, create your own study-notes, while writing your own study notes you will learn more than if you are simply reading someone else notes, this notes are taylor-made and you will be much more efficient when studying your own notes.
  • Perseverance: Some studies have shown that 10,000 hours is the threshold to become an expert in a domain, so don't limit yourself to the 250 hours required by the CFA institute for each level, the more you learn and understand the topic the best you will be in financial analysis. However talented you are, the CFA curriculum is tough and you need to study hard for it, on the other hand don't be intimidated by it, on average 40% of people pass the test you can be one of them!
  • Perspective: Not passing one level of the CFA is not the end of the world, learn from your failure and don't be discouraged from it.
  • Interaction: network with the right people, use other's experience to success in your CFA examination, find people in your entourage who already passed the CFA and learn from them. Real people will always be of greater help and will give you extra motivation to succeed in getting your CFA.

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