Schweser Secret Sauce Level 1 by Schweser
CFA Level 1 Secret Sauce
I recommend starting seven months before. This may seem excessive however, you want to give yourself the best chance of passing every level the first time so you won't have to spend even more time and more money retaking a level. I didn't log the total number of study hours. There's no magic number of hours you need to hit that guarantees success on the exam. According to the CFA Institute, the average number of hours candidates spent for the June exams was When you register for the exam, the CFA Institute provides you with the e-book version for free. I highly suggest spending the extra dough for the print version.
Why CFA Level 1? Passing CFA Level 1 was a sure ticket for promotion and all the associated costs were incurred by the bank. On top of promotion, I believed passing CFA Level 1 would improve my credibility as corporate banker in terms of accounting, finance, and economics skills since I came from non-finance degree. Strategy After my first failed attempt, I had some pictures on what I was potentially good at and on which topics my interests lied. I had 4 months for my second attempt, started my study in Sep My strategy is to be pragmatic in approaching my study, focussed on efficiency which will increase my likelihood of passing, rather than ideally trying to understand all topics.
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CFA study resources self. Resurrecting last year's thread - please post if any of these links are no longer valid, and please feel free to add your own. The Level 2 notes look great! Hey, can somebody post a PDF of the Level 3 exam and answer sheet here? I emailed CFAI using the 'Contact Us' button on their website, explained that I sat for L3 last year and was curious, and to my surprise they sent all 3 past years of exams within 24 hours. Unfortunately, the AM exam is not exactly what we took last June! They changed a bunch of questions around, I'm assuming to make them more clear and relevant for test takers.
Just posting this out of curiosity to see how many others are out there that might have shared my prep strategy. My prep strategy for each level was largely predicated upon reading and studying the secret sauce like the dead sea scrolls. I do have a background in finance from undergrad as well which helped especially with L1. Based on my matrices, all my passes were likely narrow and this strategy was definitely risky. I must admit that I never made a single note throughout the process. Just read the books and watched the videos then did end of chapter questions and some qbank.