Thursday, September 6, 2012

CFA books Or Schweser Notes for preparing the CFA examination

CFA books or Schweser notes, chartered financial analyst, cfa preparation
When it comes to prepare for the CFA "Chartered Financial Analyst" examination, there are a lot of materials you can use, Kaplan Schweser notes, Stalla notes, CFA curriculum books, Videos, etc..
The CFA is a very time-consuming examination that will require you to find efficient way of studying in order to be 100% ready for the exam day, but what books to use to prepare for it?

In my opinion the books provided by the CFA institute are far more superior to any other materials in as it provides very detailed informations on each topic while study notes can be very summarized and skip some details.
On the other hand, the schweser notes are very informatives and summarize the informations perfectly, so it can be a very good alternative to CFA books, especially if you have a solid finance background.

CFA books vs Schweser notes:

  •  If you are taking the CFA , level I, the CFA books and the Schweser notes do not have significant differences in term of knowledge, the level I is just a screening exam to check whether you understand finance concepts taught in the curriculum, BUT  be careful when the CFA is adding new topics to the curriculum the Schweser notes might take some time to update. Concerning CFA level II and III, studying the books is highly recommended as you need in-depth understanding of all the topics.
  • If you have a solid finance background and have already covered quantitatives and derivatives during your undergraduate degree, then the Schweser notes will be more than enough and you will save a lot of time, but make sure to read the book for the topic you understand the least.
  • You must take as many practice exams as you can, especially for level I, indeed it will help you to know how is the test, how to score and how to manage your time efficiently.
  •  For ethics, it is highly advised to read the CFA book, indeed a good understanding of this topic might help you to get the extra points to reach the pass level.
You are welcome to share your tips for preparing the CFA "Chartered financial analyst".

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