The Best Study Strategies to Get a CFA® Charter while Working Full-time

It takes a lot of determination to pass all three levels of the CFA exam, and getting the CFA charter is a major accomplishment. The CFA exam is challenging and more so if you are studying while working full-time. Although the CFA pass rate is low, with about one out of five candidates completing the three levels, it is not impossible to become a CFA charter holder.

Let us look at the best study strategies to use when working full time to help you pass your CFA exams.

Determine your ultimate goal

You should ask yourself why you are studying CFA and be honest with yourself. Although it may seem like a simple question, it is essential to understand your motivation.

If the reason is that you are passionate about financial analysis and stock markets, you are likely doing the right thing. However, if you have enrolled for CFA because all your colleagues are doing the same, it would be best to reconsider. You will have to work harder to pass the course without natural curiosity and a love for financial markets.

When you understand why you are studying CFA, it will help you set a clear goal. Consequently, having a clear plan will keep you motivated when studying becomes challenging. If you have a love and passion for financial and market analysis, you will wake up early to read about taxes, economics, and quantitative methods.

Decide what you are willing to give up

Passing the CFA requires determination, and you might need to make some sacrifices. In addition to having a full-time job, you have to set aside at least 300 hours to study. As a result, you need to determine what you are willing to give up to achieve your goals.

To get enough time to study, you may have to give up watching your favorite show every night, sleeping in over the weekend, or going out for a drink with colleagues. However, it would be best to give thought to what you can sacrifice without neglecting your responsibilities or social commitments.

Set up a study plan around your work schedule

The CFA exam windows are available several times a year, and you should choose the one that works best for you. You should set aside at least 300 hours of study time for each level of the CFA exam. To achieve this, analyze your weekly schedule and determine how many hours you can set aside to study.

Your study plan should be realistic and achievable. The best way to ensure that you have enough time aside is to work backward from the exam window dates. For example, if you could set apart two hours each weekday and four hours every weekend, that gives you fourteen hours of study each week. If you stick to the study plan, you will put in 56 hours of study every month and 300 hours within six months.

Take breaks

It is essential to schedule time off from studies to prevent burning out. Taking breaks will help relieve stress, and you will concentrate better. You can schedule regular workouts, read other books, meditate or participate in social activities.

The CFA curriculum is challenging, and you might feel burned out at some point. You could take a few days off from studying and re-energize. If you are passionate about the course, you will get motivated to get back to your studies.

Find ways to study more efficiently

You should ensure that you get the most out of your study sessions. Study efficiently by focusing on the core subjects and expected learning outcomes. Enroll in study packages at Analystprep to access additional learning resources and tools such as online tutorials.

In addition, we have a library of practice questions that help you review the studied topics and determine weaknesses. Our experts are available round the clock to help you understand challenging concepts.

Make use of technology

You can use technology in your studies as a convenient way to help you prepare for the exam. In addition, the CFA exam is computer-based and knowing how to use technology is a necessary skill.

You can use your mobile devices to make studying easier. Analystprep has online tutorials that explain challenging concepts. Our question bank has a diagnostic tool that monitors your skill level to help you improve.

Practice taking the exam

The last but equally important step in preparing for your CFA examinations is to practice taking the exam as much as possible. You should simulate realistic exam conditions while practicing. You will be given a mock exam by the CFA Institute and buy additional resources from Analystprep.com.

Taking mock examinations will enable you to identify any knowledge gaps and adjust your study sessions. You will also understand the terms used during testing, the calculations required, and how to apply the knowledge to solve problems.

If you need additional resources to help you prepare for your CFA exams, enroll in Analystprep.com study packages. We provide instruction from our experts and supplemental study materials including, online study notes and video lessons, question banks, mock examinations, and customizable quizzes. You will have the most reliable partner on your journey to becoming a successful CFA charter holder.