But, we do align with the CFA Institute’s recommendation of 300 hours per level and starting 6 months prior to the exam. However, if life intervenes and you begin closer to the exam, we provide guidance on where to concentrate your efforts. If you set up your personalized level cfa study plan 1 study plan, you’ll get around 300 study hours divided into roughly 4 months. This time is arranged so as to factor in all 10 topics and a proper revision before your exam. You’ll be given the average study time per week plus an estimated time for every reading (module).
The key is to not spend 20 minutes answering one question, when you could be knocking out 12 others. Ultimately, you will probably need to make a few guesses; this is normal so do not get stressed out. Time management and a cool head are the two intangibles that will help you get the pass.
The Best Way to Prepare for the CFA Level I Exam
This is important because depending on whether a topic is hard or easy to you, you can allocate more or less time to it, respectively. If you have no idea, you should treat all topics as medium in difficulty and allow for some additional study hours (in case you need it) when establishing your daily study routine. The aim of this post is to guide you through planning your CFA exam prep. We focus on the level 1 exam but all the ‘how’ guidelines are also addressed to level 2 and level 3 candidates. Hello,
My name is Miguel and I started a couple of months studying for Level 1.
- While it’s not advisable to start studying SO early that you burn out and lose interest, in general, the earlier you start, the better.
- In addition, I felt like I was spending excessive time – 2 full study days – to write and review one mock.
- Remember that time is of essence not only when preparing for the CFA exams but also when attempting them.
- It’s time for your exam, but you’re not sure that you’ll be able to remember all the formulas.
The following table summarizes how to best allocate your study time for the various CFA exam topics, if you were to give yourself about 323 hours and four months (120 days) to study. Use this table as a benchmark and customize your study routine to suit your circumstances. As a guide for a study plan, let’s use this estimate of 323 hours of reading and practice hours as a benchmark.
How to Create Your CFA Exam Study Plan?
The reason is that I work full-time and thus I have to prepare in advance. My advice is that you treat these estimations as a benchmark to lead you through your exam prep but also allow for some extra hours in excess of your staple preparation time. What I mean is that I haven’t met a person who would say they are fully prepared for the exam or that the exam is just in time for them.
The mock exams are a comprehensive look at all of the material you need to know to pass Level I, Level II or Level III of the Chartered Financial Analyst (CFA) exam. We provide questions in a range of areas, so that you can practice your skills and feel confident on test day. I got 30% or 40%, which absolutely terrified me, as the clock was ticking with only 3 weeks until exam day! This would prove to be a highly time consuming, but extremely important study method.
How Much Time Do I Need to Study for Level 1 CFA Exam?
At this point, you will probably need at least hours of study per week, and more as the test date approaches. Our SimpleSheets contain the basic formulas for all disciplines where formula-based questions are expected. Our CFA mocks feature new questions outside our Question Banks, and mirror the format of your exam.
- You will need to understand basic feature of fixed income securities and how to measure their risk.
- I got 30% or 40%, which absolutely terrified me, as the clock was ticking with only 3 weeks until exam day!
- Possible causes of the low CFA exam level 1 passing rate can be many.
- Depending on the exam level, topics have different exam weights, length (no. of pages in the CFA Program Curriculum), and contents (e.g. more or fewer formulas).
- Even if you have the technical knowledge, you still need to practice a significant amount of multiple choice questions in order to apply your knowledge to exam-based questions.
With this knowledge, it’s easier to see how much time you need to study daily, weekly, and even monthly. You must cover all areas of the curriculum, however, you must factor in your strengths, your weaknesses, and exam weights when developing your study plan. Given the breadth of the material, you must develop a study plan that maximizes your time.
Equity Investments 11
Kaplan Schweser CFA Program review workshops give you access to expert CFA instructors to help you practice exam-taking techniques and build speed during the final weeks of preparation. Studying for 6 months is the industry standard and is actually why CFA Institute implemented the requirement that candidates cannot sit for an exam within 6 months of a previous attempt. CFA candidates can certainly try to study in less time, but the best way to prepare for the Level I exam comes down to giving yourself ample time to study. The CFA exams, and especially the Level I exam, are becoming increasingly conceptual. Ultimately, you’ll also want to identify the formulas you might want to skip if they’re proving too time-consuming for you.
Is 2 months enough for CFA Level 3?
How Long to Study for CFA Exam Level III? Across the six-to-nine months that you should spend studying for the CFA Level III exam, you should plan to devote at least 344 total hours (the average study time) to your Level III prep.