5 Must Know Things About CFA Exam
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Transcript of 5 Must Know Things About CFA Exam
5 Must Know Things About CFA
CFA or Chartered Financial Analyst is a designation, which figures as one of the most
prestigious credentials in the world. Essentially divided into three levels, this exam is conducted
by the CFA Institute, annually or biannually based on the level of the exam. There are a lot of
candidates who strive to achieve this position every year.
Here’s a list of 5 things that you must know before you sit for the exam.
What Works For One Doesn’t For the Other
This holds true especially for the CFA exams, as there are a lot of people attempting them
together. It is a practice in a lot of firms of asking their employees to register for the same
immediately after they join in. As there are a lot of people attempting the exam, there is a lot of
discussion as well. As is common, strategies and study plans are shared and sometimes the same
plan is followed by two people. This is something that should be avoided, as a plan might work
for one, but wouldn’t for the other. There are many reasons for it, some of which may be that
some candidates might have already studied some concepts, study styles would be different and
so on.
Only First Time Is the Charm
The exam is divided into three levels and all three of them differ in the level of difficulty. So that
means if the first level of the exam might go a little easy, probably because of the candidate
probably study more than what is required. This also doesn’t mean that if a person passes the
first level with last minute studying, it won’t be the case with level 2. The toughest exam among
the three levels is considered to be the level 2 exam by a lot of people. Giving a 100% each time
and being consistent about it is what counts more.
Do Not Under/Over-Estimate the CFA Institute
Although it is the CFA institute which conducts the exam, it doesn’t necessarily mean that one
must follow each and every word there. It does not bode well to draw theories about the
particular concepts posted on their website. So if there have been a lot of postings about a certain
topic, it does not necessarily mean that the topic will be tested. At the same time, it is also not
right to never consider CFA institute or the study material available there.
Only One Type of Study Format Works
People are different thus different things work for different people. Similarly, different methods
of study work for different people. Thus, even when it comes to CFA study formats, some work
for a certain person, while the others don’t work at all. It thus becomes very wrong to think that,
only paper and pen are the two things that would work for someone. Various study formats exist,
conventional like those of pen and paper and non-conventional like audio-visuals, flash-cards,
anagrams, mnemonics etc. One must make use of every type of study format.
Revision Is the Key to Success
Cramming till the very last minute has never been able to help anyone. It is very important,
especially when it comes to CFA exams, to keep aside a certain amount of time for reviewing
and polishing oneself. It is very important to solve the previous year’s papers, which are easily
available. It is also important to make sure that you solve as many problems as possible. Apart
from that, mock tests are also required.
Imarticus Learning is a leading education institute, which provides industry endorsed training
courses on clearing the CFA exams.