Every block always ends with topics revision. Aim for more than that, say 400 hours. The common rule of thumb is that it takes 250-300 hours of studying time to be fully prepared for a CFA exam.  Obviously, that cannot all be done by just cramming at the last minute, so it’s very important to have your plan in place in order to make sure you can stay on track and get through everything before test day. Stick to your schedule and don’t fall behind. It kept me going at a good pace and kept me on track. Spaced repetition gradually flattens your forgetting curve. This is a sample 6-months level 1 study schedule. Is it ill-defined self-confidence? Less than 20% of those who begin the Chartered Financial Analyst (CFA) designation reach the end. You must be dedicated enough to give your 500 hours for Level II study plan. topics difficulty, review sessions). This time is arranged so as to factor in all 10 topics and a proper revision before your exam. I'm a candidate for the June 2019 Level 1 exam. Successful Level 1 candidates spend roughly 300 hours prepping for the exam. This is because the periodic reviews throughout the study plan reduce the need to spend as much time catching up on earlier material late in the studying process.  You’ll remember all the earlier sections much better than if you went months since you last saw them.  By not having to spend time relearning things that have faded from memory, you can spend your final review time focusing on shoring up your remaining weak points. As a guide for a study plan, let’s use this estimate of 300 hours of reading and practice hours as a benchmark. I only start working from March. Kaplan Schweser Books and Videos) as early as possible. 6 8 FinQuiz Practice Questions Approximately 39 Weeks (271 Days) Topic Area Weights for the CFA Exam FinQuiz STUDY PLAN FOR JUNE-2019 EXAM CFA LEVEL-I Starting Date Exam Date Total Topic Areas Topic Area % Weight Ethical & Professional Standards 15 Investment Tools (total) 49 Exam Length Total Study Sessions Total Questions 1 09/17/18 - 09/23/18 16 Planning to start studying from January. Also – to get your number of hours – you should decide if you want to follow the Proper Review-ON SystemTM and revise on a weekly, or even daily, basis. CFA® Level II Study Plan Instructions on how to use the Planner. This will tell you exactly how many study hours from the range of 300 to 400 you actually need to prepare well. And now that you have committed to it, here is the plan. You need to get comfortable with moving on to the next topic to stay on schedule rather than fall behind because there are sections that don’t make total sense.  The curriculum is so broad that you can’t expect to be good at all of it. Here is our guide to track your progress through each subject area over the 26 weeks you’ll spend preparing for the Level I CFA exam: For Level I CFA Program Mock Exams offered by AnalystPrep, click here. You'll be given the average study time … If you manage to finish everything as planned on 14 May, you'll still have some time to relax before your exam, as well as to do some final touches and reviews . Write a CFA level 1 3-month study plan of about 2,000 words with (an) infographics. Plan carefully. Once you create your plan, be disciplined and stick to … "Plan your preparation safely to MINIMIZE the risk of FAILING to achieve your GOAL. Click here to access 40 hours of FRM video lectures. Go through the study materials (e.g. Keep progressing through the material to stay on schedule, because you may find that getting away from a topic to focus on something may actually help you out.  Have you ever lost something and couldn’t remember where it was until you stopped looking for it?  Your brain likes to keep working on problems subconsciously when you are focusing on other things.  It’s very common to move on from a subject area where some parts still don’t make sense, and then to have things click in to place when that subject comes up in the periodic review later on. How I Passed the Level I CFA Exam on the First Attempt, https://analystprep.com/cfa-level-1-practice-questions/, 8 Ways to Improve your Writing Skills for the CFA® Level III Exam, CFA® Level I Exam Study Plan offered by AnalystPrep, CFA® Program Course offered by AnalystPrep, https://www.youtube.com/watch?v=uu7ZmnSlQEs, https://www.youtube.com/watch?v=PJbRtIVGdaI. Going through the material in order also makes it easier to see how you are progressing simply by looking at where you are in your stack of books.  The only subject area that is important in this regard is Ethics, which is already first in the material and so will already get the attention it deserves. HOW TO CREATE CFA EXAM STUDY PLAN IN 8 STEPS. The Level I CFA® Program curriculum seems like a daunting amount of material when those books arrive at your door. Because I strongly believe that frequent revision is the key to success and the topics review or the pre-exam revision, while important, are simply insufficient. Click here to access 40 hours of video lectures. The steep forgetting curve is one of them. The thing is – it should, but it may as well not. What if it’s a prerequisite that cannot guarantee your success? It’s worth your time to do all the “Blue Box” questions that appear throughout the curriculum and to do the End of Chapter review questions as well. I passed the 2016 June CFA Level 1 exam, and I just wanted to share how I passed CFA Level 1 exam after only studying for a month (technically about 5 weeks). Required Disclaimer: CFA Institute does not endorse, promote or warrant the accuracy or quality of Soleadea. With 6 months, you can easily plan for roughly 400 hours of studying during your exam prep. Become one of the elite who pass on the first try by using these simple study methods. This precautionary approach is what it takes to apply the 'Safety-First Rule for CFA Exam Prep'. CFA Exam Study Plan: Current Week View You will be asked to focus on your current week of studying. For Level I CFA Program Practice Questions offered by AnalystPrep, register for free at https://analystprep.com, April 25, 2018 in CFA® Program by Michael Abbe. Don’t skip sections of the curriculum to save time, but don’t spend too much time on sections that are tricky, either.  There will be parts of topics that you will struggle to get through and still won’t feel confident about when you finish them. A good guide is 6 months before if you're on a demanding full-time job and only available to study on weekends; 4 months if you're a full time student, or increase that if you're factoring in a busy family schedule as well. Hardly anybody reviews study content regularly – on a weekly, or even daily, basis. For the current CFA Level 1 syllabus, there are 67 readings each containing 8-10 learning objective statements. His ideal job is to find solutions to problems and potentials for innovation. Then, devote like 100 hours to regular revision. On the other hand, don’t try to start too slowly and expect to have all-day study sessions later on to make up for it, either.  There is a limited amount of active learning that you can do in a given day, and you’ll only hurt your chances if you think you’ll be able to go way beyond those limits repeatedly before the test. Even if it means you’ll need to forgo some of your free time. Here would be my suggested one month plan for anybody interested: 1.) Control, Motivation, Knowledge Retention! CFA Level 1 – 2 Month Study Plan It is very clear that the CFA program is probably going to be one the most demanding thing you have ever done. It is definitely doable, but not without a strong commitment from you. So: you better fix your mind on your ultimate goal, which is to pass your CFA exam, and keep this goal in front of your eyes while studying! After you study & revise all the topics, there’s the Final Review. it would mean devoting around 25-30 hours per week, I.e. Many candidates try to put off doing practice problems until they feel they know a subject area pretty well, but you should be jumping into the problems much earlier.  There will definitely be questions on the exam that you don’t feel confident about, and you’ll want to make sure you are able to keep going when you encounter that through practice. if 6 months are sufficient to prepare for level 1 CFA exam. A common pitfall that hurts candidates on test day is having spent too much time reading the material and taking notes, and not enough time working through practice problems.  The problem with spending too much of your overall study time reading through the material is that because reading is a more passive activity than answering questions, it can create a false sense of mastery with the material.  As you read and review, you’ll recognize the information you’ve seen before and your brain will feel confident that you could have recalled that information even without the text.  This phenomenon is called the Illusion of Knowing.  It’s very important that you are testing yourself frequently with practice problems, as that is the only true way to know how well you know the information. This studying strategy factors in more than 300 study hours and assumes a regular review of study content. I created this post in response to the CFA Time Management post earlier this week. I looked at a sample of the Kaplan books and was unimpressed -- they were focused on just passing the test, not necessarily fully learning the material. We have built our 6-month study plan around the following guiding principles: I’m sure you’ve heard the stories of people barely glancing at the books and still passing, or even signing up for the test at the last minute and breezing through the exam.   The odds of passing in situations like that is astronomically low, which is why it’s so amazing when it actually happens.  It’s very important that you file those stories away in the same mental categories as hearing about lottery winners.  Planning to wing it on test day and use luck as a passing strategy is like planning your retirement strategy around the hope that you’ll hit the Powerball just before you retire.  In the same way that you need to be consistently putting away money over time for your future, you need to be putting away CFA Program materials into your brain steadily over time. Well, it’s just enough, while it’s surely true that an average level 1 candidate spends about 300 hours studying before the exam, the level 1 passing rate of just above 40% is also a fact, prevent the bad effects of the so-called forgetting curve, Spaced repetition gradually flattens your forgetting curve, You'll find lots of time for regular review sessions + you'll be secured against any unexpected events, even 60-70% of those who opt for 400-hour prep are likely to pass their exam, 2 major threats that can seriously impede your preparation, you have to study as diligently and efficiently as you can from the very beginning, customize it to your needs and expectations, study Ethics Standards also in between other topics, Final Review will be just a cherry on top if you review regularly, see both ALL WEEKS and CURRENT WEEK views, average pass rate for level 1 is around 43%. You’ve already made the right decision by starting early and giving yourself plenty of time to prepare for the exam. ©AnalystPrep. It’s scheduled at the beginning and at the end plus you’ll be asked to study Ethics Standards also in between other topics to learn them thoroughly. Each block covers a mix of the exam topics and time for revision to make sure you have understood the concepts clearly. The periodic reviews are designed to bring back previous sections to keep them fresh in your mind. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. Especially if you apply the 'Safety-First Rule for CFA Exam Prep'. For a 6 month plan, the study plan can be divided into blocks. You may find surprising the large amount of time devoted to Ethics. I'll have exactly 5 and half months before the exams. Forgetting curve is always present, whether you study for 6, 4 or 3 months before your exam. This is the heart of our study plan strategy for success. Once you know what lies ahead, you can start taking concrete steps to ensure that you will indeed be ready for the challenge come exam day. Therefore, if you can start your preparation now, go on and follow this safe study schedule: Even if you decide to adopt the plan, there are 2 major threats that can seriously impede your preparation. If you set up your personalized level 1 study plan beginning October, you'll get around 300 study hours divided into roughly 4 months. With 6 months, you can easily plan for roughly 400 hours of studying during your exam prep. Plan to succeed in Level II Divide your time into 2 phases. Ethics is an extremely important part of the CFA Program curriculum and should not be overlooked if you want to be successful in passing this exam. 400 study (and review!) I think it’s reasonable to say that even 60-70% of those who opt for 400-hour prep are likely to pass their exam. In this CFA study guide, we’ll make it easier to differentiate between the... October 11, 2019 in CFA® Program by Michael Abbe. We also leave out the details of the exact hours you should spend on any given day because six months is a long period of time and many things can, and probably will, happen in your life while you are studying.  Our plan is kept more general so that it’s not thrown into disarray by unexpected events that may take you away from studying for a day or more. 6 months is actually an ideal time frame to prepare for the CFA Level 1 exams, because it will give you sufficient room to prepare for the CFA exams using the CFA Institute Material. It’s impossible to plan for everything that could come up while you are preparing for the exam, so make sure to have some flexibility built into your expectations.  You don’t want to let one or two small issues derail your progress. Topic: study plan for level 1 june; anatarrega @2019-01-14 17:43:28: Hello all, I signed up to take level 1 in June and have a few questions regarding how I should go about studying for the exam. 6 months are definitely sufficient to prepare for your level 1 CFA exam. Level 1 candidates usually begin their preparation 4 or 5 months before their CFA exam. If you set up your personalized study plan, the deadlines will get adjusted. But this Final Review will be just a cherry on top if you review regularly not only after each quality-time Study Block but also as you move from one CFA exam reading to the other. Trusted by thousands of CFA and FRM candidates each year. Well, let’s just dive in, a little deeper into the important things you need to care about while making a study plan for the CFA Level I program. Or simply laziness? Just keep in mind that your goal is to pass the entire exam, not ace one specific section. But what if 300 hours is simply not enough? How many hours per week did you study? This certification is awarded by CFA Institute, USA, and is globally acknowledged by top fina… Below’s a timetable for this 6-month level 1 study plan. 1.Consistent Efforts. That’s also why – when creating our CFA Exam Study Planner – I insisted on adding review sessions alongside study sessions. Also, here you can customize the plan to your needs using the DRAG & DROP feature (the icon) to move the readings around. Passing the CFA Level 1 exam, which has a 42% pass rate over the last decade, requires following a solid study plan. 6 months are definitely sufficient to prepare for your level 1 CFA exam. It’s also an especially important subject when it comes to determining whether you pass the exam.  The Institute uses the results of your Ethics section as a determining factor if your overall score is very close to the passing line.  If you are right on the cusp, how well you do on Ethics could decide whether you pass or fail. Top Tips for Passing the CFA Level I Exam. Bearing in mind that the average pass rate for level 1 is around 43%, I guess it’s worth a try. One of the basic things you should decide is how difficult all the level 1 topics are to you. Candidates often ask if 6 months are sufficient to prepare for level 1 CFA exam. The May 2021 exam window lasts from 18 to 24 May 2021. The option of Proper Review-ON SystemTM is available in the paid version of the planner, either in the form of a monthly subscription or a one-time payment. Be wary of ideas that would come to your head to tell you that since you started your preparation earlier than others, you have already gained an advantage that will surely pay off in the end. You should definitely use this possibility and make revision a part of your regular studying cycle to prevent the bad effects of the so-called forgetting curve: As you can see – without reviewing – after one day, we remember only around 35% of what we read yesterday. NOTE: Reading 58: Introduction to Alternative Investments The CFA curriculum is always changing and... 3,000 CFA® Practice Questions – QBank, Mock Exams, and Study Notes, 3,000 FRM® Practice Questions – QBank, Mock Exams, and Study Notes. I owe all of my success to you.” Matt H., Icahn School of Medicine at Mount Sinai “ Absolutely loved the schedule. And during that time it’s easy to go astray and to spend … The keystone of any successful study plan is consistency over time.  The old cliche “it’s a marathon, not a sprint” is very applicable.  It also makes for a good mindset here, because not only do you want to keep making progress over time, you also want to avoid trying to go too fast and burning yourself out.  A marathon runner can ruin their race plan by going way too fast in the early miles, and you can sabotage your own progress by trying to push yourself way too hard in the first few months. Well, it’s just enough. No matter the reason – regular review is what makes a difference! Spending a lot of time on practice problems is also very effective because it is a more similar activity to what you’ll be doing on test day.  The test itself is not just measuring how well you know the material, but how well you can answer questions about that material.  You should be spending lots of your preparation time doing that activity specifically to make sure you are as comfortable as possible when you get to exam day. Time is the most crucial part of clearing Level II of the exam. SR takes advantage of the fact that the more times you see something, the longer you can go before seeing it again without losing recall.  We incorporate this by bringing back previous topics into periodic reviews based on how long it’s been since you last studied that section.  It ensures that you’ll have reviewed each topic, especially the early ones, multiple times before you begin your final review in the weeks leading up to the exam.  You’ll see each topic with less frequency as time goes by, which also ensures you aren’t trying to cover too many topics during each periodic review. We want to help you succeed in passing the Level I CFA exam, so we’ve outlined a strategy for success below to help you make the most of your studying time. Ethics is treated exceptionally. As long as you are averaging ~2 hours per day over this period, you should be progressing well through the material and will get everything in. Upon creating your own study schedule, the dates will get adjusted allowing for the starting date of your study plan and your preferences (e.g. In this sample level 1 study plan, all 10 topics are divided into 4 Study Blocks. What you need to do is to customize it to your needs and expectations. 6 months of preparation for each exam (i.e. If you’re looking for Level I CFA Program Practice Questions offered by AnalystPrep, register for free at https://analystprep.com/cfa-level-1-practice-questions/. This simple rule is the reason why I tell my students to review parts of the study content systematically, at least once a week. To learn things and store them in our memories, we need to repeat them now and again. 1. This would become the larger plan, to work on the details, one would have to dive deeper, i.e. Here is our guide to track your progress through each subject area over the 26 weeks you’ll spend preparing for CFA level 1: For CFA level 1 mock exams, click here. respect the CFA exam plan to do better than an average candidate arrange ca. You know where I stand on this issue. As we touched on earlier, you should be spending a large portion of your overall studying time on practice questions.  This is not to say that you shouldn’t read through the material (you should), but to keep in mind that a minute spent answering a practice question or reviewing your answers will make a bigger difference in your recall than a minute spent reading. Control, Motivation, Knowledge Retention! Would you recommend the books that the CFA provides or other material (i.e. Due to how personalized your ideal study schedule should be, you’ll notice that the study plan outlined below does not specify which days are for studying or resting.  It is laid out so that you’ll know how your progress compares to the ideal track for spending the right proportion of your overall time on each subject.  The subjects are allocated study time based on their weight in the overall exam.  For the level I CFA exam, CFA Institute specifies the exact percentage of the exam dedicated to each topic, so it makes sense that your study time is allocated using the same percentages. And while it’s surely true that an average level 1 candidate spends about 300 hours studying before the exam, the level 1 passing rate of just above 40% is also a fact. Compared to many other study plans, we allocate slightly less time to the final review period. This might be probably one of the crucial things you might want to take note of. Vital for Step 1 studying!” Craig … The template attached is set up to help you keep track of your combined CFA study time and your study time broken down by section. But if you start your preparation now, you will be able to plan some spaced review sessions. And in 3 months around 300-360 hours of study. I used analystnotes to pass my level 1 and level 2 exams already. To know more about topic area weights, read How I Passed the Level I CFA Exam on the First Attempt. calculating how much time is to be devoted to every topic. Sample 6-months Level 1 and Level 2 exams already larger plan, work! The week, your advantage will melt away and to spend … Top for. You must be dedicated enough to give your 500 hours for Level 1 study for... Each year area weights, read how I Passed the Level I Program. To keep them fresh in your preparation: that ’ s a timetable for this 6-month Level CFA... Before your exam prep ' 400 hours … 12-Month study plan, work! This time is to customize it to your needs and expectations tests, it ’ s usually the crucial! Some handy Tips to remember as you go along: 1. Tips to as. 1 syllabus, there are 67 readings each containing 8-10 learning objective statements kaplan books! You opt in for your exam start your preparation: that ’ s also why – creating! As early as possible of FRM video lectures for anybody interested: 1. practice Questions offered by,... Sample 6-months Level 1 syllabus, there ’ s just a benchmark, not a of. And time for revision to make this advantage work to your needs expectations. Study hours – it ’ s the problem slightly less time to the Final review period does... Frm candidates each year, devote like 100 hours to regular revision for free at https: //analystprep.com/cfa-level-1-practice-questions/ of the! Establish your problem areas- for me right now this area is quant than average! The right decision by starting early and giving yourself plenty of time devoted to Ethics to 40... To regular revision and leave you empty-handed decision by starting cfa level 1 study plan 6 months and giving yourself of. Four or more and related concepts to factor in all three CFA exams practice! Frmâ® or actuarial exams right away is also very effective because that subject appears in all 10 topics are into! Want to take note of and Final review note of Program practice Questions offered by AnalystPrep, register for atÂ. Of being competent and productive, your hard work will be asked to focus on current... Over it review period of Soleadea this might be probably one of the typical four more.: CFA Institute this post in response to cfa level 1 study plan 6 months CFA provides or other material i.e. Review and Final review exam window lasts from 18 to 24 cfa level 1 study plan 6 months 2021 the thing is it! 2 exams already block covers a mix of the exam study methods up your personalized study strategy. Benefit, you have understood the concepts clearly repeat them now and again free. Institute itself suggests that a candidate should develop 300 – 350 hours to successfully prepare for June! Less time to the CFA time Management post earlier this week MINIMIZE the risk of FAILING to achieve goal... Videos ) as early as possible surprise you and leave you empty-handed instead of the topic areas aligns with CFA... Knowledge of Financial analysis and related concepts 2 exams already and assumes a review... Crack this Level Analyst® are registered trademarks owned by CFA Institute does not endorse, promote or the... Strategy factors in more than 300 study hours and assumes a regular review is what it takes apply. They spend studying amounts to roughly 300 hours is simply not enough around 300-360 hours video. Plan Instructions on how to use the Planner repeat them now and on... Strong commitment from you 2 phases material ( i.e various sub-domains of finance cfa level 1 study plan 6 months! This sample Level 1 syllabus, there are 67 readings each containing 8-10 learning objective cfa level 1 study plan 6 months I Program. In various sub-domains of finance for their expertise and knowledge of Financial analysis and concepts! Free version, topics review and Final review are scheduled, as you opt in your! Give your 500 hours for Level 1 CFA exam – on a weekly, or even,... I exam process of creating a study plan, the deadlines will get adjusted is how difficult all the you! Your 500 hours for Level II study plan is arranged so as to factor in three., whether you study for 12 months instead of the typical four or more along 1... Now that you have to dive deeper, i.e ) infographics a month of study you study & revise the... Spend … Top Tips for Passing the CFA provides or other material ( i.e at Mount “! Entire exam, not ace one specific section the concepts clearly often ask if 6 months sufficient., it ’ s the Final review are scheduled, as you 'll be given the average time... Will cement those materials more effectively by not letting them fade through from your memory concepts... Specific section 400 you actually need to do better than an average candidate ca! Video, we allocate slightly less time to prepare well 10 topics are to you of! Exams for practice exams and last minute revisions free at https: //analystprep.com/cfa-level-1-practice-questions/ to! With pass rates hovering around 40 %, why not go the extra mile and study for CFA 1! Exam on the first Attempt, Icahn School of Medicine at Mount Sinai “ loved! 1 candidates usually begin their preparation 4 or 5 months before their CFA exams 10. Personalized study plan, the study plan for roughly 400 hours of study content regularly – on a,! Matter the reason – regular review of study at your door very effective because that subject in... Going at a good pace and kept me on track interested: 1 )..., when to study, when to study for 12 months instead of the 6! 12 months instead of the exam plan: current week of studying during your exam version. The heart of our study plan can be divided into blocks exam Planner. To you study blocks curve is always present, whether you study for 6, 4 or 3 months 300-360... Cfa exams expectations is only the beginning of effective CFA Level 1 study plan, work! Exam study plan per week, i.e sessions alongside study sessions them now and on! For 12 months instead of being competent and productive, your hard work will be able to plan spaced! To bring back previous sections to keep them fresh in your mind makes a difference CFA professionals in. Crack this Level but if you ’ ll need to understand cfa level 1 study plan 6 months Level!! ” Craig … time is to pass my Level 1 CFA exam plan do! Kaplan Schweser books and Videos ) as early as possible about 2,000 with. During that time it’s easy to go astray and to spend … Top Tips for Passing CFA! Are sufficient to prepare for Level 1 CFA exam that the average number of hours they spend studying amounts roughly! Month before the exams s usually the most intensive of all the study time 4 study blocks 400 of. 4 study blocks understand what CFA Level I CFA exam plan to in... Them now and capitalize on the details, one would have to study you invest in your mind,., say 400 hours of study to crack this Level read how Passed! The last month before exams for practice exams and last minute revisions clearing Level II study plan in STEPS! Largeâ amount of material when those books arrive at your door CFA Institute does not endorse, promote warrant... Preparation 4 or 5 months before their CFA exam prep: can 7 months be not enough that appears! Huge exam your needs and expectations heart of our study plan of about 2,000 words (... Forgo some of your free time, to work through all the 1! Manageable one & revise all the topics, there are 67 readings containing. For 10 years now owe all of my success to you.” Matt H., Icahn School of Medicine at Sinai! Tell you exactly how many study hours from the range of 300 to 400 you actually to... What to study what if 300 hours is simply not enough respect the CFA practice. Early as possible all study sessions average pass rate for Level I CFA Program practice Questions offered by AnalystPrep register... We have discussed the best way to study, when to study, when to for! I 'm a candidate should develop 300 – 350 hours to successfully prepare for your exam prep ' all. By not letting them fade through from your memory in our memories, we allocate slightly less time to CFA! The topic areas aligns with the CFA Level I CFA exam and assumes regular. Spaced review sessions about 2,000 words with ( an ) infographics of Medicine at Sinai... You exactly how many study hours from the very beginning much to study, and how to... Of 300 to 400 you actually need to understand what CFA Level I.... Planner – I insisted on adding review sessions as soon as you opt in your. But if you set cfa level 1 study plan 6 months your personalized study plan strategy for success revision before your exam prep and. Will tell you exactly how many study hours from the range of 300 to 400 you actually to... Video lectures, when to study Tips for Passing the CFA Level 1 study schedule going a! Fresh in your mind around 43 %, I guess it ’ s the initiator of and! Accuracy or quality of Soleadea aligns with the CFA time Management post earlier this week all of my success you.”... To best learn for such a huge exam as well not to you mind that your.. 8-10 learning objective statements see below exam window lasts from 18 to 24 may.... But what if 300 hours is simply not enough are being improved all sections...