CFA is a globally recognized and accepted program. It has over 90,000 members in 131 countries. Though not recognized by All India Council for Technical Education (AICTE) but still very popular in India because of its global recognition.
Professional candidate who work long hours in office have a challenge to find the time for preparation. Since they have very limited time so they have to utilize it very efficiently to make the good use of it. However there is no short cut for preparation but still if one prepare smartly and persistently then surely can secure place in 40% of passing students. The following are some ideas and suggestion which can help candidates to prepare for CFA level 1:
1. Take one module at a time: CFA curriculum is so vast and broad in scope that you can not prepare simultaneously for different modules. Take one module at a time. Go for the test in order to gauze your preparation and shortcoming for that module. Rework on it and then move to next module. Don’t hop skip and jump from one module to another.
2. Favourite may be first but complete all modules: One needs to study all the ten modules. Because CFA judges you on all the ten modules. So better not ignore any module and give attention to all the modules.
3. Don’t think that you know it all: Some candidates who work in financial sector may think that they know and work on regularly and tend to ignore some topics. Remember that CFA curriculum gets updated every year. So don’t misinterpret even the common topics. Every topic deserves your attention.
4. Comprehensive study: The study material sent by the CFA institute contain all the study material and test questions for study. However it is good to have a comprehensive study/overview to the course. Candidates generally pursue part time or full time training for their CFA preparation. A good customized training from a good institute will surely help them out in preparation.
5. Talk To CFA Charterholders and Candidates: Ask questions. Try to learn from the experience of others and minimize your chances of making mistakes. Interact with seniors and learn how they cleared CFA level 1. What all preparation and strategy they have use to clear CFA level1 and try to adopt them. There are many forums available, where you can post your queries and get replies.
The CFA institute suggests approximately 250 hours of concentrated study for level1. It would be good to make a time table for your study program. If you have friends who have enrolled for the program, you can do a buddy program and study together.