Enrolling for CFA ensures many things. An “A” listed post graduate degree, an upgrade in the existing resume, an opening in the opportunity laden world of finance. But before starting the journey one should always know what they can expect and how to tide over what they face.
Apart from the eligibility criteria, CFA as a course demands perseverance, focus and systematic planning. CFA level 1 is the first step towards that journey. It gives an insight to the depth of CFA as a course. Passing the CFA Level 1 exam, which has a 42% pass rate over the last decade, requires following a solid study plan.
The CFA Level I exam covers 10 topics, 19 study sessions, and 57 readings. An average aspirant needs to dedicate atleast 300 hours for a successful attempt. Following this comes a very natural question. “How to scale it down?”. Well I am sure, during your CFA Level 1 coaching, no single tutor will suggest you to do so. People conducting these exams are smart and know how to catch the aspirants off-guard. So better to have a hold on all the sections.
This makes it abundantly clear that one needs to start CFA Level 1 coaching atleast 6 months before the exam, to avoid stress, confusion and most importantly failure! There are CFA Level 1 classes in Mumbai, which will offertext-align:justify crash courses and many other short cuts. But as Ben Hogan quotes “There are no
shortcuts in the quest for perfection” and a true mentor will point you in the apt direction for the same.
The subjects which you deal with in CFA Level 1 are allotted weightage by the institute. Use it as a cue to chalk out your plan. First place the subjects in descending order of their weightage and then identify your strong and weak areas. Now while choosing CFA Level 1 classes in Mumbai, see which ones can strengthen your weaknesses and enhance your strengths.
An integral part of CFA Level 1 coaching, is summarizing. It’s very important to draw a mind map of the curriculum, to enable you to take a glance at the topics while on the move. This helps to tap those unproductive hours of the day when you can’t sit and focus on your studies, like travelling, lunch breaks, etc. Mind maps and flow charts come handy in last minute revisions as well.
A finance calculator is your soulmate in the journey of CFA. Get a hang of using it! This can steer your speed during the attempt straight into the fifth gear! And let you cruise through the exam. Special trainings for these are also available at certain CFA Level 1 classes in Mumbai.
We all have read, seen, experienced a few golden words quoted by great individuals. One amongst those is “Practice makes perfect”. Take mock solve end of chapter questions, and all other materials you can get your hands on, to ace your preparations. What you study for the CFA level 1 exam and the approach you need to crack it, must go hand in hand for ensured success. The most integral part of CFA Level 1 coaching is to prepare the aspirants for the same by providing the maximum resources to practice.
Starting in 2021, the CFA level I exam will be offered in February, May, August, and November. The level II exam will be offered in February and August, and the level III in May and November. Keeping this and the hours break up above in mind, one should meticulously plan his/her preparations for the exam. Study on the weekdays. Study and practice on the weekends. Mind maps, flowcharts and ratio sheets in your past-time. And of course your focus and perseverance. These are the whole kit and caboodle needed for cracking CFA level 1 exam with flying results.
For more information on CFA Level 1 Exam, get in touch with our experts.