CFA level I exam pointers
The Chartered Financial Analyst (CFA) designation is one of the most sought after titles in the financial industry nowadays. But the truth is a lot were called, unfortunately only a few have made it. Recent figures suggest that it is indeed very challenging to even pass Level I of the CFA exam. A very upsetting 39% of the exam takers have made it to the next level as of December of 2007. To increase one’s chances of conquering the first exam level of CFA, here are some tips to be considered:
(a) Give oneself ample time in studying for the test. There are a lot of concepts to be acquainted with from the basics to investments and derivatives, to portfolio management and corporate finance. Because of this, there is a need to create an effective study guide to easily grasp the essence of these topics and have more confidence in selecting the best answer among the choices given on each test question.
(b) Enroll in a credible institution that provides CFA courses, if needed. Most of the time, candidates find it difficult to understand some of the CFA concepts, and thus will require the assistance of a trained professional through discussions and one-onone interactions.
(c) Take advantage of all the free resources available in the internet to save you money is buying books and other reference materials.
(d) While taking the exam, make sure to manage your time wisely. There is a time limit for the Level 1 exam but taking a few minutes to read and understand each test question before answering will surely go a long way.
Registering ahead of time to make way for longer study periods will definitely make a difference. After all, getting enough preparation is the candidate’s first line of defense against the FAIL score.
by Korbin Howard