"It’s 2 months before the exam and I haven’t done much yet..." If that’s what you worry about, cheer up. Chances are not everything is lost. Read on to see if & how you can prepare for your CFA level 1 exam in just about 60 days.
Interested in a different study plan? See:
Dealing With CFA Curriculum
CFA level 1 Curriculum is over 3000 pages long (including end-of-reading questions), which means roughly 50 pages a day to go through over the following 60 days (without any day off).
The number of pages to cover is really huge.
If you work full-time, studying all of the content will give you a hard time and – most probably – will turn out impossible. That's why you need to make some tough calls.
Think about Economics, for example. If you look at your CFA Curriculum, this topic is very lengthy compared to its weight in the CFA level 1 exam (only 10%) but it's quite intuitive in many aspects. To economize on time, you may want to consider giving up some Economics readings (you don't have to pass each and every topic to pass you CFA exam). On the other hand, spend enough time and energy on the most important level 1 topics, namely FRA, Ethics, and QM, because the higher the topic weight – the greater the number of topic questions per exam session (plus there's ethics adjustment).
That's our general recommendation. But to make these 2 months of study worth its effort, you have to decide what topics to focus on by yourself.
And focus you must!
First, prioritize the topics. While doing so – consider your previous knowledge of topics (any finance courses you took? work experience in finance?) and the recommendations we gave above.
Then, decide on the optimal study technique.
In the CFA Curriculum, you will find lots of examples, exhibits, or end-of-reading questions with solutions. You might want to concentrate on these fragments of CFA books because they may help you acquire the required study content. They are a great source of knowledge and – very often – serve as the basis for exam questions. Moreover, exam questions are based on Learning Outcome Statements defined for every reading. So, when preparing for your exam: focus on different kinds of examples and problems given in the Curriculum, as well as analyze the LOSes instead of reading whole study sessions.
Organizing Your CFA Exam Prep
With only about 60 days to the exam, you also definitely need a good study plan that you will strictly obey.
AVAILABLE FOR ALL LEVELS
Basic information about the 2-month CFA level 1 study plan:
- Starting date: 1 October
- Ending date: day before the exam
- Final revision: 5 looong days before the exam
START on 1 October
1st Study Block (1 Oct – 21 Oct)
- Quantitative Methods
- Portfolio Management
- QM+PM Review
2nd Study Block (22 Oct – 4 Nov)
- Financial Reporting & Analysis
- Corporate Finance
- FRA+CF Review
- QM+PM Review
3rd Study Block (5 Nov – 18 Nov)
- Fixed Income
- Equity Investments
- FI+EI Review
- QM+PM+FRA+CF Review
4th Study Block (19 Nov – 25 Nov)
- Derivative Investments
- Alternative Investments
- DI+AI+ECO Review
- Ethics Review
FINAL REVIEW (26 - 30 November)
END on 30 November
- Not everyone will be able to follow this plan – it's mainly intended for individuals with a good finance background who need some time to revise their knowledge (or the adrenaline addicts willing to take up the challenge but realistic enough to accept a possible failure).
- It's cruel, but if you decide to follow this plan, you should forget about your social life and spend every minute of your spare time studying – study at work (make sure you don't get fired for this, though), during lunch break, while on your way to work, etc. Every minute counts!
See how you can do this :)
Detailed Deadline Schedule
NOTE: If you create your study plan as of 1 October 2018, your deadlines will be as stated in the table. If you set up a study plan at some other date, the deadlines will get adjusted.
Access your 2-month CFA study plan:
AVAILABLE FOR ALL LEVELS
Main Piece of Advice To Guide Your Preparation
You should practice, practice, and never stop practicing. There's no time to read all of the CFA books but you should do as many exam-type questions, tests, and mocks as you can. You can use:
- end-of-reading questions (in the CFA Curriculum),
- mock exam provided by CFA Institute,
- our online CFA mock exam,
- free reliable resources like our free CFA mock or sample practice test included in our free CFA Study Planner.
Inside our CFA Study Planner you can also find:
- VIDEO APP with some bite-sized videos explaining many CFA level1 concepts,
- TEST APP with tons od exam-type questions that can be generated into various practice tests,
- FORMULAS APP with relevant formulas for each topic.
AVAILABLE FOR LEVELS 1 & 2
You can benefit from all this even when on the go! Soleadea is accessible at any moment of your day on your smartphone:
- listen to our brief videos on your headphones,
- generate & do short practice tests when you’ve got a minute,
- learn or repeat formulas when you’ve got a sec.