Hi,
Below there are some key point to clear the CFA exam,
Key #1: Get Organized
After making decision to sit for CFA exam following are some of tips might help you to get clear the paper.
1.Start Atleast 6 months before. The CFA Institute estimates that at least 300 hours of independent study is necessary to pass each exam. Candidate should start at least 6 months before and give atleast 12 hrs in a week.
2.Preview the material before starting. After registering for each level, you will receive a curriculum that is divided into about 18 study sessions. Broadly preview each session to determine your familiarity with each topic.
3.Develop a game plan. Get out your calendar and determine which weeks you will be studying which sections. Schedule your studying so that you finish with all the sections at least one month before the exam, so you can review. Also, schedule in review days as you go along.
4.Select a review course. In no way should a review course substitute for studying the material. . The key is to pick only one course, so that you can spend more time focusing.
Key #2: Develop an Effective Study Program
An effective study program will make the difference between passing and failing. To develop an effective program, consider the following:
1.Study all "learning outcome statements" (LOS). The CFA Institute defines LOS as "knowledge, skills and abilities that you should be able to apply after completing a reading and all associated exercises and problems." You'll be more likely to remember these points later if you take time to write them down as you come across them.
2.Use flash cards. Flash cards are portable, much lighter than carrying the entire CFA curriculum with you and can be quickly reviewed while commuting to work, during a lunch break, etc.
3.Use memory techniques. Mnemonic devices, such as taking the first letter of each word in a concept to spell one word, are helpful. There are other tricks, such as catchy slogans. For example, "SiP a CoKe" can be used to remind you of option put-call parity: The prices of a Stock + the Put = those of the Call + the present value of the striKe price.
4.Study qualitative material differently. When studying quantitative material, working on problems is important. First study the concept, then learn by doing these problems over and over again. Once you understand how to solve a problem, return to the material for further understanding. Many ethical problems are scenario-based and easy to read.
5.Work through as many practice questions as you can.
6.Use your approved calculator. Understand the calculator function so that you can easily work on the day of exam.
Key #3: Review
You need a solid a month to review the material again once you have gone through all the sessions. Do not take this part of the study process lightly.
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ReplyDeletefor the mnemonics techniques, there is in fact a website http://www.acapfinance.com/CFA.html that provides many memory tricks to help memorizations, v. useful... helped me memorize a lot of formulas, tables, etc particularly FSA and ethnics... though it didn't cover everything... but itz still better than nothing...
ReplyDeleteCFA examination reminds me of my secondary school exam, lots and lots of memorization.
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