How to Prepare for CFA Level I

The CFA Program recommends a three-phase study plan that includes three different stages of review: Prepare, Practice, and Perform. The first stage involves listening to lectures and reading relevant material. The second stage involves working through practice problems to test your knowledge and readiness for the exam. Each level focuses on a similar set of core topics, but the weights of each topic vary and can change every exam cycle.

Practice

There are several things that you need to consider when preparing for the CFA exam. First of all, you need to know what you will be covering in the exam. Some subject areas have a higher weight than others. It is important to know exactly what you will be covered in the exam so that you can practice for it. A CFA study guide should help you prepare for the exam by breaking it down into bite-sized modules.

The best way to practice is to try a mock exam, which the CFA Institute offers. It consists of a three-hour morning session followed by a two-hour break. Attempting the practice questions is a good way to gauge how well you know the material for each section. You should try to complete all the practice questions at the end of each section, as this will give you a good idea of how you’re performing overall.

A good practice period for the CFA exam is six months. This gives you enough time to complete at least 400 hours of study. It is also a good idea to start studying at least six months before the exam. This will give you enough time to study on your own and also prepare you for unexpected things that might happen while you’re taking the test. One of the main challenges that you’ll face is the steep forgetting curve. A bad study strategy can be a major hindrance to the exam.

You can also practice for the CFA exam at home by taking mock tests. If you’re not a fan of taking mock exams, you can use a CFA practice exam that simulates the conditions of the exam. Mock tests help you better understand the material and prepare your body for the exam. For example, a CFA level I exam has ten topics and three hundred and twenty hours of reading. During your practice exam, you will practice answering end-of-chapter questions, and this will help you to find out where your weaknesses are.

Whether you’re preparing for the CFA level I or CFA level III, it’s important to balance your study and practice time. Remember that the CFA is an exam that tests breadth and depth. If you don’t practice for it regularly, you’ll probably fail it. That’s why you need to balance your study time with your social life. If you have time, you’ll be able to prepare for it successfully and pass the exam.

Using mistakes as a topic grasp indicator

The CFA Level I exam is composed of 180 multiple-choice questions. There are three answer choices for each question, and you have a maximum of 1.5 minutes to answer each one. The topics covered in the exam are: Economics, Quant Methods, and Financial Reporting and Analysis. The first exam session includes 90 questions. Each one is equally weighted. In Months 1-2, focus on rereading the materials and practicing End-of-Chapter questions.

To maximize your learning potential, use multiple-choice questions for the exam. Then, give yourself a month before the exam. You will always discover areas you need to work on more. There are also two free practice tests available for Level 1 to practice. You should give yourself at least one month before the actual exam to get the most out of the practice tests. A study partner is an academic and social asset and can help you pass the level one exam.

Studying the blue box and the white text examples is an essential skill for the level one exam. The calculator will be useful in solving multiple-choice questions. Be sure to memorize the functions of the calculator before the exam. This way, you won’t waste your time learning formulas and mechanics. You can also practice the exam by getting a study partner or a group of friends.

CFA Level 1 is one of the easiest exams to pass, as the pass rate in August 2021 was 26%. Although this exam covers a large range of topics, it doesn’t go into great detail for each concept. Its goal is to get everyone to the same level of knowledge before the Level 2 exam. With enough study, anyone can pass CFA Level 1.

Using Wiley’s Level 1 CFA Program Study Guide

The Wiley CFAexcel study guide features a simulator that simulates the real exam environment. Students can practice with multiple task-based simulations and 30 multiple-choice exams to master key concepts. The app synchronizes with the online course, so students can work on it when they are offline. You can also download the app for free for 14 days to test its effectiveness. Just make sure that you have a valid credit card on hand.

Another feature that distinguishes Wiley’s study guide from other materials is its comprehensive coverage of the entire Level 1 CFA exam. Wiley’s CFA(r) exam study guide contains over 2,400 practice questions and 1,000 printed flashcards. The book’s video lectures by renowned experts are easy to access and summarize important concepts. A student can access the study guide anywhere with an internet connection.

In terms of cost, Wiley’s study guide is not cheap, but it will get the job done. There are three tiers of pricing available, including barebones study resources, a basic self-study course, and some practice exams. The cheapest tier costs less than $700 per part, while the most expensive option costs nearly $1,400. The Platinum course includes the 11th Hour Final Review, which can cost as much as $400.

If you plan to take the exam in the near future, you should take the practice tests. These tests will show you which areas need more work. Wiley’s Level 1 CFA Study Guide should be on your shortlist. It will ensure you pass the Level I exam with flying colors. You’ll be a CFA in no time! Just make sure you study hard and do your best to get through the exam!

Using a CFA-approved calculator

One of the most important things to remember when preparing for the CFA exam is to use a CFA-approved calculator. This device can help you answer questions more accurately and quickly. The exam contains many questions that require complicated calculations and you only have 90 seconds to answer them. If you don’t use a calculator, you’re unlikely to pass. Luckily, the CFA Institute accepts international passports. Make sure the name on your exam ticket matches your passport so that your calculator isn’t reset by the proctor.

There are two types of calculators that are approved for use on the CFA exam. The HP 12C and the Hewlett-Packard 12C are both recommended by the CFA Institute. Both calculators have their pros and cons. Using the right calculator is more important than choosing the right one. If you have no experience using a calculator, it is a good idea to use a CFA-approved calculator.

Studying for the CFA exam is a long process. It’s important to schedule your time wisely. If you’re in school, consider taking a prep course to help you maximize your study time. This way, you’ll be able to focus on important topics and reduce distractions. It will take you at least 80 hours to complete the entire curriculum. Make sure you finish it at least a month before the exam date to maximize your chances of passing.

To help you prepare for the CFA exam, you must familiarize yourself with the curriculum. The CFA exam is long, six hours for each level. You should study every subject thoroughly and make sure you have a good grasp of it. Ensure that you study smart and do not eat excessively right before the exam to avoid the need to visit the bathroom. And try not to use your mobile phone during the exam.