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Asked: 2020-08-17T15:05:44+05:30

Can you crack CFA levels by doing self study?

Can you crack CFA levels by doing self study?
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10 Answers

  1. Hitesh Nagi

    Most CFA Level 1 candidates study independently for the exam. If you choose to go down that road, there are several guidelines you must adhere to. The most important ones are described below. The ideal prep strategy in 5 steps for the CFA exam is as below-     300 HOURS OF STUDY:  Follow this studyRead more

    Most CFA Level 1 candidates study independently for the exam. If you choose to go down that road, there are several guidelines you must adhere to. The most important ones are described below.

    The ideal prep strategy in 5 steps for the CFA exam is as below-

    1.     300 HOURS OF STUDY:  Follow this study time recommendation made by the majority of CFA candidates. The typical amount of time needed to study for each level of the CFA exam is 300 hours (Dedicated ones!)
    2.     Develop a sound STUDY STRATEGY to ensure you don’t miss anything. To do this, you must adopt a weekly strategy outlining the topics you must finish each week.
    3.     STUDY MATERIALS: To help you understand the material, retain your knowledge, use quality study resources like Quintedge, schweser or IFT.
    4.   PRACTICE: It’s crucial that you familiarise yourself with the CFA exam’s structure and question types. You will be prepared for the exam if you consistently practice using exam-style practice questions and CFA exam mocks.
    5. REVIEW: To increase your learning retention, always do a review after studying.

    Hope it helps 🙂

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  2. Paridhi Thakur

    Anyone can pass the CFA exam by studying independently. For tips on how to prepare for exams effectively, please read the entire answer. Starting with the CFA Institute's materials can help you understand the topics more thoroughly. Study twice or three times for the best results. Please avoid relyiRead more

    Anyone can pass the CFA exam by studying independently. For tips on how to prepare for exams effectively, please read the entire answer.

    1. Starting with the CFA Institute’s materials can help you understand the topics more thoroughly. Study twice or three times for the best results. Please avoid relying on those resources from Kaplan Schweser, or Wiley; although they appear to be appealing, they are not. 
    2. You can watch Mark Meldrum or Arid Irfanullah’s YouTube videos to get clarification on any issue if you get stuck. But only level 1 candidates can access their videos for free. 
    3. Create a solid study plan and make an effort to follow it. Before the exam, take certified CFA mock exams. For last-minute revision, make brief notes. That’s it. If you fervently adhere to these guidelines, you will succeed in achieving your goals.

    Happy studying!

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  3. Anonymous

    Self-study will undoubtedly help you pass the CFA exam. However, in order to pass the CFA exam, you must commit all of your attention to your studies without interruption. As a result of not having anyone nearby, you may occasionally have to deal with loneliness. In these situations, you should takeRead more

    Self-study will undoubtedly help you pass the CFA exam. However, in order to pass the CFA exam, you must commit all of your attention to your studies without interruption. As a result of not having anyone nearby, you may occasionally have to deal with loneliness. In these situations, you should take a break and restart.

    Moving on, I want to mention that self-study will be beneficial in passing your CFA, but there are key formulas you should be familiar with to make the process go more smoothly – for this you can refer to ‘secret sauce’ by Quiuntedge. While studying, if you have any questions about the topic, watch the YouTube videos of Arif Irfauallah for solutions.

    PS:- These videos are both free and really helpful. Best of luck

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  4. Anonymous

    You can DEFINITELY crack cfa by doing self-study. I would suggest using Schweser Notes, which are simplified versions of the CFA material. I am aware of numerous individuals who studied from Schweser Notes rather than a curriculum and were able to pass the CFA exams (all levels). However, I stronglyRead more

    You can DEFINITELY crack cfa by doing self-study.

    I would suggest using Schweser Notes, which are simplified versions of the CFA material. I am aware of numerous individuals who studied from Schweser Notes rather than a curriculum and were able to pass the CFA exams (all levels).

    However, I strongly advise you to attempt the Schweser questions as well as the examples and practice problems that are included at the end of each course in the CFA curriculum. Additionally, there are practice examinations for each topic available on the website that you can take as many times as you like.

    Yash Jain’s video lectures (Quintedge) are an additional choice. They contain a topic-by-topic description of each chapter, testable topics, and Question solutions. 

    Hopefully, this was useful.

    Best Wishes

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  5. Raghu Bartwal

    Yes, you can pass the CFA exam by self-study. All you need is the proper study material and an appropriate plan. Study Material Quintedge Videos and Kaplan-Schweser books, including practice books for each subject. As such, CFA modules are not necessary. However, I would advise you to read through tRead more

    Yes, you can pass the CFA exam by self-study. All you need is the proper study material and an appropriate plan.

    Study Material

    • Quintedge Videos and Kaplan-Schweser books, including practice books for each subject.
    • As such, CFA modules are not necessary. However, I would advise you to read through the questions at the end of each chapter as well as the examples in between. Refer to the official information if you didn’t understand any concepts in Schweser.
    • Take the official mock tests.

    PLAN

    I’m assuming that, if you’re a working professional, you’ll be granted a 2-week leave, that is 14 days. If you can work 10 hours per day, that’s 140 hours total! You can study for two hours during regular working hours and for an additional six hours on the weekends. Therefore, in a week—2*5=10 hours, 6*2=12 hours, for a total of 22 hours—260 hours would need to be spent studying during work hours, assuming that 400 hours are needed. (260/22) This would take approximately 12 weeks. 3 months of study time plus 14 days of vacation are required. Easy as pie.

    Alternatively, you can study for 8 hours a day if you are only preparing for the CFA Level 1 exam and not working full time. Consequently, 50 days are required. Even with some lag time, it can be finished in 2 months with ease!

    It can be completed successfully if well planned and carried out. It simply assesses your knowledge of fundamental ideas and exam-writing skills. I wish you luck.

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  6. Kuldeep Madan
    This answer was edited.

    Yes, self-study can help you pass the CFA examinations, but there are a few things to keep in mind. If you practice a lot and assess your preparation, you can pass exams. Practice is the key to acing exams. Before the exams, try as many practice test papers as you can and choose a reliable CFA mockRead more

    Yes, self-study can help you pass the CFA examinations, but there are a few things to keep in mind.

    1. If you practice a lot and assess your preparation, you can pass exams. Practice is the key to acing exams.
    2. Before the exams, try as many practice test papers as you can and choose a reliable CFA mock test website, like Quintedge, Prepsmarter, etc which can provide a variety of questions.
    3. You will become more accustomed to the exam structure if you take more mock exams. Adopt the schedule of two hours of question practice every day in addition to three hours of self-study per day.
    4. Four months prior to the exams, four hours of topic reading, plus one hour of practice. Three months prior to the exams: three hours of subject reading and two hours of practice. 2 months prior to the exams: 2 hours of subject reading, with weekend mock exams and practice questions.

    That’s all, folks!

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  7. Arpan Chadha

    Of Course you can! If you are someone from a commerce background then it will be an add on to your preparations. You may however face some difficulties but the  majority of the content will be easily understandable to you. It is preferable for one to prepare at least 300 hours for each level as youRead more

    Of Course you can!

    If you are someone from a commerce background then it will be an add on to your preparations. You may however face some difficulties but the  majority of the content will be easily understandable to you.
    It is preferable for one to prepare at least 300 hours for each level as you need to spend more time on understanding the concepts by yourselves. 

    You can refer to the Schweser and CFA curriculum books for the preparations as well as you can check out some amazing YouTube channels like Arif Irfaullah.

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  8. Jitesh Sethi

    Anything is possible if you devote yourself completely to it. Although it is recommended to take up online coaching from a coaching institute because they know what is actually going on in the CFA examination and curriculum. Also, you will make amazing friends who will be very helpful in the futureRead more

    Anything is possible if you devote yourself completely to it. Although it is recommended to take up online coaching from a coaching institute because they know what is actually going on in the CFA examination and curriculum. Also, you will make amazing friends who will be very helpful in the future in terms of knowledge sharing and job prospectus.

    Still, if you want to approach self-study, here are a few quick tips:-

    1. Go through the CFA study material 2-3 times thoroughly.
    2. Watch Youtube videos if you get stuck anywhere.
    3. Make a study plan and strategy and stick with it.
    4. Appear for mock test papers.

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  9. Daksh Deshwal

     Yes, as CFA is a self-study program, it can be completed independently. You can pass the CFA exam without coaching if you are committed and focused on doing so.  You must be laser-focused on your studies and goal if you want to become a CFA. You must create an effective strategy and carefully folloRead more

     Yes, as CFA is a self-study program, it can be completed independently. You can pass the CFA exam without coaching if you are committed and focused on doing so. 

    You must be laser-focused on your studies and goal if you want to become a CFA. You must create an effective strategy and carefully follow each step.

    Practice is essential in achieving success in CFA, so I would urge you to practice as much as you can.

    Thank You!

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  10. Saourav Mondal

    I'll discuss my own experience with how I self-prepared for the CFA Level 1 exam. Let's start from the beginning. I began my preparation in the month of June 2019 and completed my studies in the manner described below: First, I went through Quintedge's lecturez and then I read the Kaplan-Schweser boRead more

    I’ll discuss my own experience with how I self-prepared for the CFA Level 1 exam. Let’s start from the beginning. I began my preparation in the month of June 2019 and completed my studies in the manner described below:

    1. First, I went through Quintedge’s lecturez and then I read the Kaplan-Schweser book and answered all the end-of-chapter questions. Since it was my first reading, I could only comprehend 50% of the content.
    2. I then read the Kaplan Schweser book once more and completed the chapter’s exercise.
    3. Next, I read the LOS from Kaplan and some other crucial material that I felt should be my main emphasis.
    4. After reading almost all of the examples provided in the CFA curriculum, I finished chapter questions from all of the CFA curriculum’s subjects. (About 2000 questions)
    5. I then completed the subject-wise combined questions from each subject that were available on the CFA Institute website. 2800 or so questions roughly
    6. After that, I jotted down all the crucial formulas used in all subjects and continued to review them until the exam.
    7. After that, I began taking the mock exams included in Kaplan Schweser Practice Books 1 and 2 and those found on the CFA institution website.
    8. I finished my mock exam five days before the exam and only reviewed the material, concentrating on my faults.
    9. After all this preparation, I was able to review each subject in an hour on the last day of my exam.
    10. I then took my exam, which I cleared in my first attempt.

     Be honest with yourself about your understanding of any topics or subjects; disciplined study is required. Be inspired, get enough rest and food, do deep breathing exercises, and enjoy the journey. You must have determination. Every day, evaluate your performance. 

    Good luck.

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