Tips to Make the Most of Your 300 Hours of CFA® Exam Preparation

The CFA Institute recommends that you put in at least 300 hours of study for each level. Therefore, it is vital to use this time to ensure that you are well prepared for your exams. It would help if you came up with a plan to make sure that you get the most out of each study session.

This article provides you with tips from successful CFA charter holders on utilizing this time and passing your exams.

Start a study routine as early as possible

Our successful CFA charter holders’ most common success tip is their dedication to a study routine. To pass your exams, you need to understand the material and have the skills to apply it. The exam will test how to apply what you learned to different scenarios.

It would help if you put in a lot of time and effort to attain such a high level of understanding and application skill, and starting a study routine as early as possible will go a long way in helping you achieve this. Start your studies six to nine months before the exam date to ensure you have enough study time.

You should set a time to study and develop a study strategy to ensure that you get the most out of each session. It will help if you prepare by reading or listening to lectures, understanding the information, and learning to apply the knowledge through practicing with examinations.

To prepare for your examinations, you should simulate examination conditions. Simulating exam conditions will help you assess how ready you are for your tests and identify areas for improvement. Ensure that you set apart time for studying, practicing, and mock testing.

Take note of the core topics and their exam weights

During your study sessions, it is essential to understand the topics that carry more weight in the exams versus those that do not. All the levels in the CFA program focus on the same core topics. Therefore, you should note the core topics that weigh more in the exams you are studying.

You should be aware of the specific learning outcomes

Specific learning outcomes refer to what you should be able to do by the end of your CFA curriculum. It is the actual knowledge, skills, and abilities that the lecturer or instructor intends for you to learn or develop. Specific learning outcomes are more in-depth than the set learning goals.

Specific learning outcomes are measurable and tested, for example, asking you to explain, identify or analyze a concept. Designed by the CFA Institute from the Candidate Body of Knowledge, the core knowledge, skills, and abilities are generally accepted and applied by investment professionals globally.

You should plan out your study sessions around the core topics and the specific learning outcomes. Planning study sessions around the core topics will help your study sessions be more focused and successful.

Relate your knowledge to real situations

The CFA exam tests not just your knowledge of the material but the skill to apply that knowledge to realistic situations. You need to apply what you have learned to solve problems rather than replicate memorized information.

Most of our successful CFA charter holders advise that you should study to have the skills to apply this knowledge to real situations. You should always keep in mind that you will need to use the material you learn to work in the real world. You can make your learning material simpler to remember by relating it to real-life situations.

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. CFA societies in over 120 locations worldwide also offer a six-hour live mock exam, including a multimedia tutorial that helps you understand how to answer the questions.

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.

Be prepared on the exam day

It would be best to show up at least 30 minutes early for your exam. You might not be allowed to take the exam if you arrive late, and you will not get an exam fee refund or transfer.

The CFA Institute requires you to show a valid passport for identification when registering or sitting for your exam. You can only bring in your ID and an approved calculator in the exam room, so you should leave other personal belongings in your car.

Some of the prohibited items include communication and electronic devices such as mobile phones and handheld computers.

These tips from successful CFA charter holders will help you plan your study sessions and make the most out of them. You will be prepared for your CFA Level I exams and will pass on the first try.

The next step after enrollment and registration is to start studying for your exam. You should set up a study plan to keep you on track and practice for the exam using sample questions.

Contact us at Analystprep.com for our CFA study packages to help you prepare for your exams. You will have access to notes and video tutorials from the best professors and an up-to-date sample question bank to help you pass your exams on the first try.