Chartered Financial Analyst (CFA) is a Certification Course by CFA Institute, USA. CFA is one of the most chosen courses in the world of Finance and it is also one of the toughest courses to pass. The CFA program is a worldwide accepted discipline for assessing the competency, efficacy and reliability of financial analysts. The curriculum is very focused on the concepts of finance and therefore, completing the entire CFA Program and succeeding in CFA exams can be very rewarding.
The CFA Program consists of a sequence of three exams such as Levels I, II, and III. Level I examination checks your understanding of the moral and professional standards. Level II exam examines how you put into practice those standards to circumstances that you face. Level III exam focuses on testing how you execute the standards in a portfolio management and compliance milieu. The three exams can be taken each year in June, with the exception of Level I, which be taken in December as well as June.
Succeeding in the CFA Program exams needs strong discipline, determination and a broad range of studying. The exam content, learning focus, and question format enlarge in difficulty with each level. The examination generally incorporates a lot of topics including ethics and professional standards, quantitative techniques, corporate finance, economics, derivatives, alternative investments, financial reporting and analysis, equity investments, portfolio management and wealth planning.
The CFA exams are very complicated and tough but candidates can improve their possibilities of succeeding by studying for long hours, making use of alternative prep materials, testing many practice questions and forming a organized study plan. If you are struggling to find a way to thrive in CFA exams, organize the learning procedure for CFA through the following techniques:
Planning is important for CFA candidates to become successful in their life. Without a doubt, planning is essential for us to do well in everything that we do especially when it comes to education. There is no secret to get through the CFA program successfully. All you want to do is to have an organized as well as disciplined approach that will aid you get ahead of each level of the program with ease. With proper planning, you can ultimately achieve your goal. The CFA Program curriculum includes concepts and skills you will bring into play at all stages of your professional career.
You cannot become successful in your CFA exams if you don’t start early for preparation. It is a fact that none of the students can find success from their examinations if they don’t give themselves ample time to study well or to get prepared. The CFA Institute mentions that at least 250 hours of study is essential for candidates to pass each exam. Some of the surveys have shown that candidates used to spend more than 300 hours on average across the three exam levels. So, candidates who are starting early for CFA exam will get ample time to review the CFA Program curriculum, to prepare for exam and to cover exam prep materials.
Make a Timetable
Making a timetable will help CFA candidates to prepare well for the exams. It lets you to customize your plan of managing the massive task of attending exams. Timetable lets you to plot out a plan, plan a tactic, set aside ample time for studies, execute your study horizon and use up a few time every day to cover a portion of curriculum to successfully execute your plan. Carrying out the CFA Program displays employers that you have mastered a wide variety of sensible management and analysis skills.
Since CFA Institute’s curriculum and tests are very tough, you should practice tests as many times as possible. Remember that you can become an expert if you focus on practicing CFA tests. Practice tests because practice makes perfect. In reality, it takes a lot of practice to gain knowledge of and understand how to take tests efficiently. So, you shouldn’t be overwhelmed by practicing CFA tests because you can prepare well for your final tests efficiently. You can attend your CFA exam with no fear and full of confidence as well if you practice tests.
Manage Your Time
Manage your time because time management is key and important when it comes to CFA exam. You should find ample time to prepare for your exam and set aside sufficient time to go through the study materials. If you don’t manage your time well, you can actually mess yourself up and lead you into a complicated situation on the whole. When you write your CFA exam, you have to manage your time well because if you don’t plan accordingly you will end up with performing poorly in your exam.
Understand CFA Institute’s Curriculum
You have got to focus completely your efforts on the CFA Institute’s curriculum to find success. It is crucial to understand that everything you will encounter on the exam comes directly from the program of study of curriculum that the CFA Institute presents to the students. Hence, you should give focus on the CFA Institute’s curriculum. It is not a bad idea to get through the materials that you get from the CFA Institute’s curriculum but your main focus should be on the CFA Institute’s curriculum. It is easy for the students to find out CFA examination preparation materials and tips from the CFA institute’s website. As a result, don’t ignore the CFA Institute’s curriculum and if you ignore, you will be in deep trouble.
Maintain a Planned Pace of Studying
When you prepare for CFA exam, you should maintain a planned pace of studying. You should cover the whole curriculum and materials that the CFA institute offers you. If you don’t plan the pace of your study, you will eventually fall short to get through the study materials which will result in your failure.
Don’t Skip Topics
You cannot skip any of the topics that you seen in the study materials and on the website of CFA institute. It is important to gain knowledge of the each topic because you cannot predict which questions will be asked in the real exam. Hence, find your time to go through every topic so that you don’t fall short.
Use Your Break Wisely
Break is essential for you when you prepare for CFA exams. If you don’t take break, you will become tired and you may not be able to focus completely on your studies. Therefore, you should take break to keep yourself energized and refreshed. You should use your break wisely and make your break productive.
Keep Up-To-Date with What’s Changed
As far as the CFA program students are concerned, they should keep up-to-date with what’s changed. At first, CFA exams wanted writing outstanding open-ended essays to pass the exam. Afterward, it changed to the multiple-choice portion. Then, FA Institute changed its multiple-choice questions to have three answer choices, one right answer and two distracters. So, you should be aware of these changes and keep up-to-date with what’s changed.
Other Points to Be Noted
- Know the format and Have a strategy
- Look after yourself as the exam approaches
- Make the most of the materials on offer
- Use materials that will help you prepare for the exam
- Find a method of studying that works for you
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