Investing in the 300 hours of study prep is very little guarantee to passing your CFA Level 1 exam about the first attempt.
The analysis techniques & the research material you employ may play a significant part in your success or failure.
It is therefore of vital importance that you apply the tried & tested study methods & use the best study notes to pass this tough exam.
5 Key Tips That Will Help You Pass Your CFA Level 1 Exam
1. Obtain the best Study Material, Practice Questions & Past Exams
Getting the best study materials, including books, study guides, prep books & videos, will stand you in good stead.
Doing past papers is among the best ways of making certain you realize the fabric well as well as supplying you with the arrogance that you’ll want to pass quality.
2. Be Familiar With the Exam Format
Having the exact format with the exam will ensure that you have keep surprises away & that there is absolutely no way of panic establishing that may happen should you be surprised with something unexpected.
So only to recap, the format with the Level 3 mock grading is as follows;
Format: multiple-choice
Questions:
240 equally weighted questions
Morning Session: 120 questions;
Afternoon Session: 120 questions
Each question has three answer choices
An average of, 1.Five minutes should be allocated per question
3. Revise the fabric Three to four weeks Prior to Exam
You are unable to revise enough – in fact the harder you revise & the harder practice questions & exams one does the harder confident you’ll become for tackling quality not to mention being more at ease & proficient together with the principles.
So give yourself a minimum of 30 days before d-day to perform as numerous EOC (End of Chapter) questions & QBank (Schweser) as is possible to make sure you have an understanding of all of the material & principles.
4. Read & Understand Each Question Carefully
As a result of time restraints & pressure of sitting quality, a standard mistake is always to misunderstand a matter & therefore choose the wrong answer.
It’s going to pay out to invest a little time reading the question properly in order to not misinterpret it & when it seems too involved & too time intensive you are able to choose to get forced out & look at another you could tackle & answer quickly.
Time management is critical – wasting too much time on time consuming questions can often mean missing easier questions & wasting easy marks
5. There is certainly Just one Correct Answer
Be precise even though you have to sacrifice a little time to obtain your calculation right.
Do not rush it as you may turn out using valuable time in addition to missing out on getting a relatively easy question right.
Silly mistakes will surely cost valuable marks.
Finally, it cannot be overemphasised how important it’s to use the most effective study materials in addition to doing mock exams – get the above things right & the chances of you passing the level 1 exam will likely be greatly enhanced.
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