Professional Documents
Culture Documents
CFA Level 1 Preparation Tips 1583908577
CFA Level 1 Preparation Tips 1583908577
CFA Level 1 Preparation Tips 1583908577
NOTE
The preparation tips mentioned herein are expressed in personal capacity of the
writer and reflect upon the strategies followed by her during her course of
preparation. The content does not negate in any way the guidelines provided by
The CFA Institute.
Any reference to any supplement material, prep provider etc. is purely based
upon personal experience of the writer and is not by any means used as a tool to
advertise the latter.
The writer respects and adheres by all the guidelines provided by the CFA
Institute and this content does not in any certifies any information mentioned.
The candidate is advised to solely use this material for the purpose of guidance.
OBJECTIVE
CFA L1 has 10 subjects and to begin with, jot down the flow of the subjects you’d
follow.
To assist you in deciding the course of your study, please follow the following
link to find CFA L1 Planner as a reference which you may modify according to
your preferences and duration of study.
Link: https://lnkd.in/fU5m6cx
Most people prefer using Kaplan- Schweser notes since it is summarized version
of the CFA Curriculum and you may choose to refer the same.
However, I chose to study from the CFA Curriculum for all the three
levels and I do not regret my decision. People tend to avoid the curriculum
considering it to be voluminous, time- taking, detail-oriented and as a fact
economics material itself has 600 pages therefore, a lot of you might not want
to get your hands stuck onto such extensive reading.
But the essence of the program lies into reading as much as you can. Try
and infer things to your maximum potential and you’ll see the results then.
So, I suggest everyone to cover everything from the CFA Curriculum. Even
then if you feel you don’t have enough time, go for Schweser notes but make it
a point to read “Ethics” from the CFA Curriculum.
Schweser does not have enough illustrations and cases which is essential
to expand your level of understanding.
SUBJECT WISE ANALYSIS
ETHICS
o You don’t have to cram the standard numbers or any other provision. You need
to develop an understanding of provision and read as many cases as you can.
QUANTITATIVE METHODS
o The first study session is comparatively easy and scoring if you understand the
concepts well. (I referred Aswini Bajaj’s videos for Quants which are available on
Youtube).
o The second study session becomes tricky. The most difficult reading for me
was Hypothesis testing and I kept on reading and re-reading it to comprehend
the concepts better. I also referred random videos on Youtube for complex
concepts.
ECONOMICS
o I don’t have any special tips for economics as it all depends on how focused you
are while you are reading the material. You won’t even realize how minute
details and sections could be asked in the exam.
o I regret being over confident about this subject being a commerce student.
Being the mostly lengthy subject, don’t forget to assign enough time to the
subject.
o They ask the most mind boggling questions when it comes to FRA and every
question seems to come as a surprise. The key is to pay particular attention to
the details of every question. Read the question twice before answering.
o These are effortless subjects and shall help you in racking up a good score.
o The only concern candidates’ face is not being able to remember formulas and
brief concepts. However, once you make flashcards and keep revising the subject
you’ll be good to go.
PORTFOLIO MANAGEMENT
o I used to dread this subject so much and to some an extent I still do but
anyway, the key is to keep reading and re-reading it. Don’t undermine the
process because there is a lot to remember and practice in the course and it is
an arduous process. To get a hold of things you’ll have to be thorough with the
concepts.
DERIVATIVES
o I find it as the most interesting subject and holds immense importance for L2
as well.
o Again, I’d advise you to read this subject from the CFA Curriculum since they
have explained everything from scratch.
o Once you are done reading, you may refer IFT’s video on Youtube for a
summary.
GENERAL TIPS
- Prepare your schedule smartly to leave you enough time for mocks.
- Don’t forget to make a formula sheet for each subject. It proves to be a great
tool during revision.
- While revising Ethics focus only on the text of the standards and only the
difficult cases you have marked. Revisiting the cases which you have already
solved won’t be of much help since they have different questions in the exam.
- Now, I was never a “Notes” person, however if you feel comfortable with notes
then you may follow that practice but keep them precise.
Lastly, this exam is a game of consistency. The moment you start taking it
lightly, you lose the game. Be uptight with your schedule and prepare well.
Best of luck and let me know if you have any other doubts on
bhumikasankhla12@gmail.com.