There is only one month to go before the CFA Level 1 exam, and you should already be performing quizzes and mock questions. If it’s not the case, then it’s definitely time to take a deep breath and buckle down to the daunting task ahead.
This study plan takes into consideration that you already read and reviewed all chapters or summaries. In my opinion, the last month should be dedicated only to practice questions and final revision.
What I am proposing here is a precise 30-day schedule. On CFAI’s website, we find that CFA Program exams will be held on Saturdays only. In other words, the study plan will always start on Thursday and will always end on a Friday.
- The schedule contains four half-mock exams (1 per week) for a total of 480 questions. For better results, I suggest answering all questions without the answers. This might be hard on the first Saturday, but I really think it makes a huge difference in how you apprehend the questions and try to solve them. You should also keep track of the time and try to stick within the frame suggested.
- Resting one day a week shouldn’t make you anxious. Like a muscle, your brain needs to relax and think about other stuff. This will make your thoughts clearer and when back to work, you will perform better. You probably also noticed that I left the two last days blank. There is nothing worse than finding out a few hours before the exam that you haven’t understood a concept and this is why I recommend this part of the schedule.
- You don’t want to fail Ethics! Begin with it, finish with it and pay it peculiar attention during mock exams. Most important, you should know exactly how to comply with the Standards of Professional Conduct and what would be considered a violation. If you want a free summary with relevant question examples of the Standards, click here.
- There is a lot of emphasis on “Financial Reporting and Analysis” and “Quantitative Methods”. I believe that these two chapters give you many tools that help in other topics. In other words, when you study FRA and QM, you improve your overall understanding of the curriculum.
If you’re still looking for a question bank and mock exams, have a look at our preparation materials by clicking on this link. Remember that about 61% of candidates revealed in the 2015 CFA Institute survey that they used third party preparation materials, in addition to the assigned materials and that you then chance of passing the CFA Level 1 exam on your first attempt is basically one in three. I know you don’t want to fail the exam and have to repay registration fees, so stack the odds in your favor by using all of the study material you deem suitable.
There is only one month left before the exam and the only way for you to have enough time to review the whole curriculum is to be organized. This study schedule is the first step in that direction but there is still work to do to adapt it to your needs. Don’t hesitate to take into account your strengths and weaknesses when planning your own. Good Luck!