Read ahead for important CFA level 1, 2, & 3 tips and strategies.
CFA Level i study tips
As the first stepping stone towards success, CFA Level 1 requires hard work, dedication, and sincerity. Since the CFA syllabus is the same with different weightage in different levels, you are already halfway there when you study for Level 1!
Follow these tips to get you started with confidence.
- 300+ Hours of Studying - You should dedicate 300+ hours to Level 1 preparation. 2-3 hours a day is enough to keep you going steadily. You can comfortably split the entire syllabus in a six-month duration.
- Make Your Calculator Your Best Study Partner - By this, we mean questions from the Quantitative Methods and Portfolio Management subjects that need to be solved quickly. So the more you practice, the more you'll be comfortable during the exam.
- Devise a Roadmap - Everyone has their own pace and comfort zones while studying. Some topics may come easy to you, while others may seem a bit difficult to tackle. You shall be the best judge of your preparation requirements.
Take regular Mock tests - Mock tests, one of the essential parts of CFA Exam tips and strategies, help you prepare for the specific exam pattern so that you can comfortably take the exam and be your best self at time management.
Level 2 CFA Exam prep
Preparation for Level 2 is based on what you have done so far till Level 1.
In Level 3, you only need to prepare seven topics instead of 10, which gives you ample leverage from previous preparation. However, with a decreased syllabus, you'll face more difficult questions. Thus, you must alter the CFA exam tips and strategies as per the situation demands.
- Get Familiar with 'Constructed Response'- In Level 3, a new section is present, known as 'Constructed Response,' making up about 50% of the exam paper. In the previous levels, MCQ-type questions were very easy to handle. In the previous levels, MCQ-type questions were very easy to handle. In this section, you need to write essay-type questions, which may be word-based or calculation-based.
- Keep Practicing MCQs- While the number of MCQ-type questions gets reduced, they're still important to get you through the last phase of the exam.
- Revision & Mock Tests- With the changed exam pattern in Level 3 again, you need to be acquainted with the exam pattern and be adept in time management in this section since essay-based questions will set a new difficulty level.
- Skip Whenever Necessary- During the exam, if you face a question that you're unsure of if you'll be able to answer or don't know the answer to, or even may require more time than what you have at hand, you should skip and see which questions you're confident about and will be completed faster.
These CFA exam tips and strategies for the different levels can be altered as per your preparation requirements. However, the basics of the prep study plan must be the same, with a strong foundation created with dedication and continuous evaluation.
Read More :
