Investing in the 300 hours of study prep is not a guarantee to passing your CFA Level 1 exam on the first attempt.
The study techniques & the research material you use can play an important part inside your success or failure.
Therefore, it’s crucial the application of the tried & tested study methods & utilize the best study notes to give this tough exam.
5 Key Tips That will assist you Pass Your CFA Level 1 Exam
1. Acquire the best Study Material, Practice Questions & Past Exams
Obtaining the best study materials, including books, study guides, prep books & videos, will stand you in good stead.
Doing past papers is one of the best ways of ensuring that you realize the material well as well as supplying you with the arrogance that you will need to give the test.
2. Be aware of the test Format
Understanding the exact format from the exam will ensure that you have stay away from surprises & that there are no chance of panic setting in which could happen should you be surprised with something unexpected.
So just to recap, the format from the CFA is as follows;
Format: multiple-choice
Questions:
240 equally weighted questions
Morning Session: 120 questions;
Afternoon Session: 120 questions
Each question has three answer choices
An average of, 1.Five minutes should be allocated per question
3. Revise the fabric Three to four weeks Before the Exam
You can’t revise enough – actually greater you revise & greater practice questions & exams you do greater confident you are going to become for tackling the test let alone being more at ease & proficient together with the principles.
So allow no less than 3 weeks before d-day to accomplish as much EOC (End of Chapter) questions & QBank (Schweser) as possible to ensure that you are aware of every one of the material & principles.
4. Read & Understand Each Question Carefully
Due to time restraints & pressure of sitting the test, a standard mistake is to misunderstand an issue & therefore opt for the wrong answer.
It will purchase from you to shell out a little time reading the question properly in order to not misinterpret it & if it seems too involved & too time intensive you’ll be able to opt to leave it & go onto another that you could tackle & answer quickly.
Time management techniques is very important – wasting a long time punctually consuming questions could mean missing easier questions & wasting easy marks
5. There exists Only One Correct Answer
Be precise in case you need to sacrifice a little time to get your calculation right.
Do not rush becoming you could find yourself using valuable time in addition to passing up on finding a relatively easy question right.
Silly mistakes will set you back valuable marks.
Finally, it wouldn’t be overemphasised how important it is to work with the best study materials in addition to doing mock exams – get the above things right & the likelihood of passing the level 1 exam is going to be greatly enhanced.
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