Sunday, October 21, 2012

Time Management for the CFA Level I Preparation

 The most important step in planning your preparation for the CFA Level I is a proper and precise time management, eventhough you are confident about your knowledge and your background in Finance.

allocate study time and discipline are the key to succeed in your CFA level I examination.The CFA curriculum is so heavy that you need to review most of the important process in order to be able to think fast and efficiently during your exam and quickly implement all the formulas you learned, moreover for those with no or weak financial background, you will have to spend susbstantial time time to study for the CFA examination.

Our first and principal advice is to measure your key performance indicators, such as the number of pages you can memorize and learn in an hour, the average time you spend on average on each practice problem from the end of the chapter (Keep in mind that you will only have 1.5 min per question for the multiple choice of the CFA level I).
Once you know approximately how many pages you can read and memorize in an hour, you can check the remaining number of pages you have to get an idea of how many more hours you have to cover everything. 

Make sure that you have to take into account the amount time spent on practicing problems a the end of each chapters, as well as revision cheat sheets with formulas and key explanations.
 Once you have determined the time required to finish your CFA preparation, have a look at your average weekly routine (work and social life) so you allocate study time to your free hours, moreover you should also determine your study schedule for the weekend and finally for the day off and holidays you are planning to take, I don't need to mention that taking a week or 2 off before the CFA examination will significantly increase your chances of passing the test.

 Thereafter you have to stick with your preparation plan, which is a very demanding task, naturally you will skip some study session, remember to keep track and to always write down how many pages you covered during a study sessions and what concepts did you learm.
Discipline is the only way to success in your CFA examination.


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