Do first things first.

Prior to starting the preparation for CFA, make a study plan. Find a study partner for the CFA on www.studypal.co. A study partner for the CFA is very beneficial to keep you motivated throughout your CFA journey. Study plan and discipline in adhering to it is a must in case you wish to pass the exam. You can use tools like TimePrep to help you with strategy and time management and keep you on the track.

Get the best things first.

The second advice would be – start with the most interesting topics. If you like corporate finance more than Quantitative methods, start with Corporate finance. You will finish the first book sooner and this will motivate you for further successes.

Write to memorize.

Take notes – although you may think this is redundant, it may be good for the review phase. Take notes in the books or separately, but try to build a system that will help you review the most important topics and calculating procedures.

Watch out – there are some rules!

Get used to infrastructure – exam questions type (multiple choice, item set & essay), calculator policy (only two types of calculators are permitted), and other rules and procedures. Sooner you get used to these, you will be more successful and calm on the exam.

Repetitio est mater studiorum.

It is hard to memorize so much and reproduce this knowledge in such a short time frame. It is hard to remember all the formulas and concepts. However, repetition can really help you master this amount of content. Focus on the practice problems during repetition. Besides knowledge you gain, this is something that prepares you the best for the exam.

Know your enemy.

Visit the testing centre a day (night) before the exam. Calculate how much time you need to reach the centre. Take into account possible morning rush hour (although the exams are organized on Saturdays and Sundays). Try to eliminate the unnecessary stress prior to the exam.

There is really no secret sauce for passing the exam. You have to learn and practice. However, learning from the experience of other candidates and members, and avoiding some obvious traps, may make you more successful candidate.

Good luck!

Enrolling the CFA program will have an impact on your private life and relationships with your friends, partner and family. If you want to successfully complete the program you will have to dedicate a significant amount of time and effort to the learning process. The CFA program is not very demanding in terms of new knowledge, but it takes a lot of time to go through the entire curriculum and solve decent number of practice problems. You will have to spend certain amount of your free time on the CFA program and make clear cuts in your social life.

Although many people will say that if you organize yourself well, you will manage to achieve both personal and professional goals, it rarely happens that you are a successful business man, the best friend always ready to jump in and an incredible boyfriend/girlfriend or a family man at the same time.

It always helps to find a study partner for the CFA, someone who is going through a similar situation as you and can motivate you for the exam. You can find one on StudyPal.co

On the other hand, it is crucial to find the best possible work-life balance and organize the learning process so you can still spend some time with your friends. The most important step is to “negotiate” certain terms with the most important people in your life, before you enrol the CFA program. You have to explain in detail what does your new obligation mean for them, warn them in advance that you will not be available all the time and get their support. True friends and loving partners/family will understand. Try to negotiate certain number of hours or certain periods (e.g. Friday from 7pm-11pm) in the week when you will dedicate your time to people you care the most about, and don’t cheat. When it comes to family or girlfriend/boyfriend time, relax and dedicate a quality time. This is where TimePrep helps a lot – dedicating regular study time cannot be made easier.

Since you have to dedicate certain fixed and, more or less, consistent blocks of time on a weekly basis you will have to cut some other activities off in order to successfully complete the program. An average CFA candidate works in the financial industry which is known for long working hours. Unless you can spend some time learning in your office, you will have to study after or before work. That means you will have to reduce time you spend on other activities such as sports, going out, hobbies, travelling, etc.

Make a list of priorities, and don’t entirely cut off activities that are very important to you. In addition, get rid of less important but time consuming activities, hobbies and habits – just make a clear cut.

You are a human being and you need support from people you care the most. Their support will motivate you and give energy to push forward through the curriculum. There is no worse thing than to sit and learn while aware of the fact that someone is mad at you since you have not put him/her into your agenda.

Good luck!

Becoming a CFA charter holder gives you a certain level of personal satisfaction. Completing one of the most prestigious and demanding professional programs in business is certainly a distinctive characteristic that should make you proud. As a CFA Charterholder you will be among approximately only 110.000 professionals in the world who share this designation.

CFA Charter will certainly open some doors in the investment/financial industry. It doesn’t mean that you will be instantly promoted at your current workplace, but it definitely makes you a person of choice for lead expert or managerial position. The key competitive advantage compared to your peers is certainly the knowledge you have gained in the process of obtaining the charter. However, do not neglect the opportunity for further education given by CFA charterholders by CFA Institute via magazines regularly shipped to charterholders’ address, as well as other professional programs – education is the lifetime long process.

According to some researches CFA charterholders get better paid jobs than non-CFA charterholders. The connection is probably not linear and the fact that you have the ability to complete such a demanding program also enables you to climb in the corporate organization. However, CFA Charter definitely gives you some bullets for your career talks with your superiors. Your knowledge will be recognized and you will be professionally more satisfied than before.

On the private side, you will have surprisingly more time for private stuff. During preparation for the CFA exams, you wanted to make use of your time as efficiently as possible – you can use TimePrep and also form a study group on StudyPal.co So, if you keep the discipline, after the program, you will have much more free time to spend with your family and friends.

Finally, don’t forget an important thing. CFA charter gives not only benefits but also some requirements. Strict professional and ethical standards oblige you to certain level of professionalism and adherence to the high ethical standards. Make sure you promote and adhere to these standards in your everyday business.

Good luck!

Once you decide to enter the CFA program and become the CFA Level 1 Candidate, prior to enrolling the program, check if you have sufficient time for the preparation of the first exam. Don’t enrol the program if you can’t make it. This is something that can be assessed in advance. Wait for the other term, and enrol then. In order to assess whether you can do it or not, use the simple math. Start from your usual schedule and determine how much time in a usual week you can dedicate to learning. An average candidate needs approximately 300 – 400 hours, so you can divide this numbers with the amount of time in a usual week you can dedicate to learning. This will give you approximate amount of weeks necessary for the preparation.

Once you decide to enrol, prior to starting the process decide on the materials and accessories you will use. There are a number of prep-providers, study groups, and gadgets that can make your life easier in the following months. Make sure you choose the items based on which type of person you really are. If you learn best from lectures, buying prep providers videos or real lectures may be the best choice for you. In case you like to read books, but don’t have enough time, buying abbreviated and more focused curriculum from prep providers may be valuable for you. Learning in study groups can also be a powerful tool. You can read more about learning in study groups here. Don’t forget about time management and organization, no matter the way you have approached the study. TimePrep – an intelligent time management solution can help you here.

When you finally organize the process – START and don’t look behind. You have immense amount of study materials to go through and a number of practice problems to solve. Many candidates fail (approx. 60%) but you have to give your best and you will manage to complete the process and pass the exam. There is no secret sauce and there are no shortcuts, if you invest your time and effort, it will pay off.

For each of the three levels there are some specifics that will be addressed in other blog posts, but generally there are some things you have to pay special attention no matter the level.

First of all, make sure you are familiar with the exam questions format. No matter how good you understand the material, you have to be efficient on the exam. Make sure you are used to the multiple choice (Level 1), item set (Level 2) and essay questions (Level 3).

Second, make sure you cover as many as possible areas from the curriculum. You have to satisfy certain threshold in each of the topic area in order to pass the exam.

Finally, don’t forget formulas. Try to memorize formulas and review them a day before the exam. It is critical to memorize them, because you will quickly have to remember a large number of formulas on the exam under pressure.

To sum up, in order to successfully prepare for the CFA exam, we would suggest the following:

• Before starting, make sure you can complete the learning process.
• Decide on strategy – how will you actually learn and which materials and gadgets you will use. Organize yourself!
• Focus on the exam question format
• Cover as many sections as possible
• Memorize formulas

Good luck!

Group studying is a common approach used in almost all educational systems around the world. From school to college, students organize themselves in groups for homework and exam preparation. The reason behind the activity is that a group of people is smarter and more productive than an individual.

If you study in a group you will solve problems more efficiently. Sometimes you will contribute to the group and at times the group will clarify certain topics or queries you may have. Teamwork makes the whole process less stressful and more pleasant because you meet people with similar interests and backgrounds who will motivate you to achieve common goals.

A very important aspect of studying is time management. If someone in the team takes care about the progress of the group, the group can leverage on its teamwork and complete the process on time. It is advisable that the entire group has a single agenda and an appointed team member to monitor the progress of the group. This team member should use various time management tools such as TimePrep iOS apps for the CFA Exam to ensure that the team’s goals are met in a timely manner.

While a team approach to studying can yield numerous positive effects you should refrain from excessive socializing, talking about non CFA topics or just networking. The common goal in fact will only help you in staying focused and being sensitive to other team members’ aspirations. You will be encouraged to come prepared  for the study sessions and help the group stay on schedule.

In order to successfully prepare for the CFA exam, we would suggest the following:

• Find a small team of candidates with similar motivation, background and same level of preparedness, on www.StudyPal.co
• Organize either on-line or physical space for study sessions.
• Never meet without an agenda – discussion about certain topics (pages or sections/practice problems).
• Dedicate one person for process/time management in order to be both effective and efficient.
• Ensure the group discipline and manage time carefully.

Good luck!

 TimePrep for CFA