So you are one of the candidates sitting for CFA Level 1 exam? Well congratulations and good luck to you. The CFA Level 1 exam is tough and if you don’t follow a proper study plan you will not be able to be successful. Here’s what you need to do to increase your chances of success: 1. Make a proper study plan and follow it This can be quite hard to maintain, be realistic about your study plan, don’t make it too rigid so even the slightest chances can cause you stress and make it difficult for you to catch up. You can even use a time prep app to make this plan easier for you to maintain. 2. Utilize your time efficiently This is the hardest and your worst enemy. It may seem like you have a lot of time in hand but remember you have about 3000 pages to go through along with the CFA mock exam and practice tests. 3. Get used to your calculator This is very important and make sure you do it early. Firstly it will save you a lot of time and also make your exam less stressful. 4. Don’t take the exam lightly Even though you’ve finished studying all the chapters in the curriculum, no one said it’s going to be easy. Having an attitude of a know it all can be very dangerous. You need to keep going through again and again and also do at least one CFA mock exam every week. 5. Prep providers You could use prep providers to ease the process for you, but wait don’t forget about your curriculum. If you are having a hard time understanding a subject go back to the curriculum, this will help you a lot. Also, end of chapter questions are very good practice material because the type of questions you will get the day of the exam will be very similar. 6. Ethics You might want to make this section the last to read on your schedule. Although it is very important, I found this section kind of boring (actually very boring) to read, so if you start with it you might get bored and likely fall behind schedule very early in the study process. Cover this section when you are already feeling the pressure and can’t afford to fall behind schedule. 7. Don’t become an expert in every subject Focus mostly on the important topics, no one expects you to dominate 100% of every Learning Outcome Statement (LOS), so don’t waste your time trying to. If you try, you will get frustrated and you will lose focus. 8. Find a study buddy But don’t study with them all the time this can be counterproductive. Once a week is good enough, also study groups could work out very well in discussing queries etc. The study group should consist of more than 4 people. 9. Final review You should have completed studying all topics and still have the last month to spare only for revision and the CFA mock exam. You should do a lot of reinforcement during your review sessions to overcome your weaknesses. 10. Practice as much as you possibly can Along with solving one CFA mock exam every week you should aso practice the end of chapter questions very thoroughly. You should have completed at least 5 CFA mock exams.
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