5-month CFA Level 1 Study Plan For December 2019

CFA exam / Study plans / Level 1 DEC 2019, 5-month



NEW STUDY PLANNER available for ALL LEVELS


If you want to have a good CFA level 1 study plan, there are some universal principles you’ll always need to follow, no matter how long you’re going to prepare for your CFA exam. When you start your prep, make sure your learning strategy includes:

  1. Proper planning – it’s more than just a list of topic deadlines…
  2. Systematic work – ‘cos the exam content is voluminous.
  3. Conscious learning – understand, don’t just memorize!
  4. Regular review – for better knowledge retention.
  5. Practice – to get skillful at solving test questions.
  6. Weekly control – assess your progress every week and react if needed!
  7. Analysis of weaknesses – get to know your weak points (mind that some may appear as the prep evolves).

Proper CFA Exam Planning

Let’s explore the first rule in more detail. If proper planning is more than just a list of topic deadlines, then what is it?

With 5 months to the exam, your listed topic deadlines pass every two weeks on average (because CFA topics vary in length, difficulty, and exam weight, their deadlines should be also varying). This way, all you know is that you work to a strict deadline a couple of weeks away. Frankly speaking, there’s quite a serious threat you won’t make it. To meet the deadline, you need to break these weeks further down – into readings and study days.


CFA Level 1 Study Plan: Calendar View

CFA Level 1 Study Plan See what a proper 5-month CFA study plan should look like (details below).


Then, obviously, you need to stay in control of your detailed study plan to execute it.

Why is this break-it-further-down-and-control thing so important?

Because when you divide your CFA exam prep into topics (which BTW is the first and most natural step to take), you create a perfect model that would work in an ideal world. It doesn’t allow for real life. But no two weeks are the same and not always will you be able to devote the same amount of time to studying to meet your deadline. Plus, if the deadline’s still far away, you are likely to procrastinate. That’s where control and flexibility understood as sound management come into play. When your CFA exam prep is arranged to weeks and then readings, you can make it from day to day and react if things do not go as planned. With deadlines just for topics, how are you going to catch up if something goes wrong? But if you know what readings to do each week and how much time you should take to complete them, it’s much easier.

Also have a look at the new CFA 2019 topic weights, which you should take into account when setting up your study schedule and deadlines:

Topic CFA L1 2019 Exam Weight
Ethics 15%
Quantitative Methods 10%
Economics 10%
Financial Reporting and Analysis 15%
Corporate Finance 10%
Portfolio Management 6%
Equity Investments 11%
Fixed Income Investments 11%
Derivative Investments 6%
Alternative Investments 6%

We come back to the issue of proper planning below when we talk about the 3 main reasons why CFA candidates fail their exam. Apart from strict deadlines for both topics and readings, we also show you can survive this 5-month CFA exam prep and still have a week off. This is something that should cheer you up .


Analysis of Weaknesses

While it’s all clear now how to best plan your CFA exam prep, one more piece of advice is due. As you go down the road, you need to get to know your weak points. Surely, you know some of your weak points already but mind that some may appear as your prep evolves. For example, you may be well aware of your unorganized nature. That’s why you are reading this post – to do something about it. But as time passes, you may also find out that you tend to put off studying too often. Regular procrastination can ruin your plans altogether. Not to let that happen, you’ll need to react and find the motivation to follow your study plan without delay.

So, stay observant. Best if you analyze every week of your CFA exam prep, then draw conclusions and seek solutions whenever you and your study schedule are in danger.

Now, have a look at what else can jeopardize your chances of passing your CFA exam.


3 Main Reasons
Why You May Fail In Your CFA Exam

We’ve been helping people to prepare for the CFA exam for many years now. While doing so, we found out there are 3 major reasons why candidates fail their exams. Before you sit down to plan your CFA exam prep, consider if you also struggle in these areas:

  1. Problems with math.
  2. Not enough practice.
  3. No proper planning.


Problems With Math

First of all, though it may sound rather surprising, some people struggle with math.

It’s true not only of those who graduated from the university some time ago but also of students who currently attend their classes. This group constitutes even up to 30% of all CFA candidates.

Mathematics used in the exam is not complicated. It’s sufficient to know how to transform formulas and do fractions. Of course, those who can calculate and analyze things in their mind are better off when it comes to the real exam.

If you master your math, you'll be able to do even more than 50% of all calculations in your head, which will very often prove to be much quicker than if you used the calculator.


Not Enough Practice

Here’s the second reason for failure in the CFA exam. Most of the candidates practice too little.

They study their CFA Curriculum but they fail to test themselves on what they’ve actually learned. What you need to do is to solve countless exam-type questions all way through your exam prep. Over and over again. To see where you’re standing.

It’s best if you develop the right habit from the very beginning. It would be perfect if you tested yourself on a daily basis, after each reading and each topic. If you do tests regularly, you’ll see your progress and you’ll know which areas still need some improvement and which are fine.

Moreover, by doing different exam-type tests, you get accustomed to the form of the CFA exam, which should definitely make you feel more comfortable when the exam day comes.

If what you know about the exam is that it’s a multiple choice test consisting of 120 questions of the morning session and 120 questions of the afternoon session, you will not feel that much comfortable for sure.

To get the fact resonate better:

Imagine that you are to play a basketball match and all you know about basketball is that you need to throw a ball into a basket but never in your life have you tried to score a point. Certainly, you’ll agree that to win that match, you’ll need a lot of luck.


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No Proper CFA Planning

That’s how we come to the third reason of many CFA exam fiascos. It’s about the volume of the study material required in the exam and due planning.

To cope with 10 CFA topics covered on over 3000 pages, you need to work systematically. This – as we know well – can often be a great challenge!

The first step to overcome this challenge is to have a timetable with deadlines for all the topics, which you can find below for the 5-month CFA level 1 study plan.

Then, you want to have control over your learning progress. That you can have only if you adopt the approach of small steps, where a well-organized study week forms the basis of your exam prep.

To put you in charge of your study time, we launched a new and advanced CFA Study Planner available for FREE to candidates of all levels.

You will find there the whole CFA Curriculum divided not only into topics but also into readings. And while you’ll have your 5-month study calendar, you’ll also have the means to control your weekly study progress. You’ll have the average study time per week stated which you’ll be able to edit according to your needs (take away a reading or two OR add some readings if you’ll have a busy week at work OR you’ll want to quickly move on with the study material, respectively).

That’s not all!

If you plan your CFA exam prep using our app:

you’ll surely find enough time to practice (see below) – and if you practice enough:

you’ll be able to improve your mathematical skills!


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How to Prepare for CFA in 5 Months

Let’s begin with the big picture before and then move on to topic deadlines and more details about this study plan.

1 July is the first day of this CFA level 1 study schedule. The last day falls on 6 December, that is the day before the exam. The last month should be devoted to revision and mock exams in countless number. The first 4 months are divided into 4 Study Blocks:


5-Month CFA Study Plan:
START on 1 July

1st Study Block (1 July – 4 Aug)

  • Ethics
  • Quantitative Methods
  • Portfolio Management
  • QM+PM Review

2nd Study Block (5 Aug – 8 Sept)

  • Financial Reporting & Analysis
  • Corporate Finance
  • FRA+CF Review
  • QM+PM Review

HOLIDAYS*
suggested dates: 9 - 15 Sept

3rd Study Block (16 Sept – 15 Oct)

  • Fixed Income
  • Equity Investments
  • FI+EI Review
  • QM+PM+FRA+CF Review

4th Study Block (16 Oct – 10 Nov)

  • Derivative Investments
  • Alternative Investments
  • Economics
  • DI+AI+ECO Review
  • Ethics Review

FINAL REVIEW (11 Nov – 6 Dec)

END on 6 Dec


There’s a special topic sequence applied to help you focus on the more challenging topics and facilitate the uptake of related topics (that’s why, for instance, you’ll find Portfolio Management follow Quantitative Methods).

Ethics is scheduled twice – at the beginning and at the end because of the specific nature of this material (moreover, our Study Planner urges you to review Ethics regularly, which is definitely a good idea with the ethics adjustment being in force).

The time scheduled for each topic depends on its difficulty understood as the number of pages in the CFA Curriculum, topic weight in the exam (new CFA 2019 exam weights applied), and the share of math and calculations in the topic (but you can further custom topics difficulty inside the Study Plan app).



Holiday & Revision

As you must have noticed, our study plan also includes:

  • 1 week of holidays* (right in the middle, after you do your Ethics, QM, PM, FRA, and CF, but *you can choose otherwise!),
  • 4 weeks of Final Revision preceding your exam (indispensable to be ready for the CFA test),
  • spaced revision sessions all throughout your exam prep (for topics – as available inside the Free Study Plan Application, but since topic and final review are not enough to fully overcome your forgetting curve – you may also opt in for proper review system inside Knowledge Retention PLAN!).

All this to help you prepare for your exam thoroughly.

The weekly break has 2 functions. On the one hand, it allows you to recharge batteries in the middle of your exam preparation. On the other hand, it motivates you to work hard on the first 5 topics. It’s like an award for those who follow the plan!

And as far as the hard work goes, all the revision sessions arranged inside the study plan give you plenty of space to practice and review what you’ve learned. It’s an important prerequisite to successful and productive learning.

Your CFA Study Plan In 5 Months

Below, you can see topic deadlines for your 5-month CFA level 1 study schedule with 1 week off studying in between. The deadlines take the new 2019 topic weights into account. As soon as you create your personalized study plan, the deadlines will get adjusted to your preferences (e.g. topics difficulty, number of weeks off, etc.). Also, you’ll get CFA readings assigned to your study weeks to ensure better control and successful execution of your study plan.


CREATE PERSONALIZED STUDY PLAN HERE
Create Study Plan Here

AVAILABLE FOR ALL LEVELS


Topic Deadline
Ethics 7 July 2019
Quantitative Methods 21 July 2019
Portfolio Management 2 Aug 2019
QM+PM Review 4 Aug 2019
Financial Reporting and Analysis 1 Sept 2019
Corporate Finance 6 Sept 2019
FRA+CF Review 8 Sept 2019
QM+PM Review 8 Sept 2019
>Holidays*< 15 Sept 2019
Fixed Income 29 Sept 2019
Equity Investments 11 Oct 2019
FI+EI Review 13 Oct 2019
QM+PM+FRA+CF Review 15 Oct 2019
Derivative Investments 20 Oct 2019
Alternative Investments 25 Oct 2019
Economics 8 Nov 2019
DI+AI+ECO Review 10 Nov 2019
Ethics Summary 10 Nov 2019
Final Review 6 Dec 2019


NOTE: If you set up your personalized study plan,
the deadlines will get adjusted.


Your Current Week View You will be asked to focus on your current week of studying. You will know what to study, when to study, and how much to study. At the end of the week, your hard work will be evaluated (hit the ‘Sum Up Current Week’ button).

CFA Level 1 Study Plan: Week View

Also note that for each week you will find some useful practice tools & compact study materials inside the study planner. Enjoy!


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AVAILABLE FOR ALL LEVELS




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