With 6 months, you can easily plan for roughly 400 hours of studying during your exam prep. While the primary keystone of any study strategy is consistency, it’s also important to use what we know about how the brain stores information to make studying as effective as possible.  The review process of our study plan is based on the concept of Spaced Repetition (SR). If you have already decided to prepare for the level 1 CFA ® exam in 3 months, let’s move on (But for those of you that are still on the fence it will be useful to have a look at this post to get a better idea about how many hours are required). Write a CFA level 1 3-month study plan of about 2,000 words with (an) infographics. To know more about topic area weights, read How I Passed the Level I CFA Exam on the First Attempt. Also, here you can customize the plan to your needs using the DRAG & DROP feature (the icon) to move the readings around. 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. You must be dedicated enough to give your 500 hours for Level II study plan. A Study Plan for Passing the CFA Level 1 Exam The ideal CFA study plans that you find … What you need to do is to customize it to your needs and expectations. It kept me going at a good pace and kept me on track. 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. What if it’s a prerequisite that cannot guarantee your success? Bearing in mind that the average pass rate for level 1 is around 43%, I guess it’s worth a try. Top Tips for Passing the CFA Level I Exam. 6 months are definitely sufficient to prepare for your level 1 CFA exam. 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. CFA Level 1: 3 Months Plan for working candidates On January 28, 2016 February 7, 2016 By Ninad R. Pethkar In CFA , Strategy Point Not more than 150 days are remaining for CFA Level 1 examination.It is time to accelerate the preparation. This studying strategy factors in more than 300 study hours and assumes a regular review of study content. If you set up your personalized level 1 study plan beginning October, you'll get around 300 study hours divided into roughly 4 months. Below you can see both ALL WEEKS and CURRENT WEEK views of your 6-month level 1 CFA exam study plan: CFA Exam Study Plan: All Weeks View That’s where you can view all the weeks of your CFA exam prep to see how much you’ve done and how much is still ahead of you. I am doing level 3 this year. Plan to succeed in Level II Divide your time into 2 phases. Start studying for CFA®, FRM® or actuarial exams right away! It is definitely doable, but not without a strong commitment from you. Planning to start studying from January. respect the CFA exam plan to do better than an average candidate arrange ca. Passing the exam with three months of prep is a daunting task; the attack plan mapped out below seeks to help you slay the dragon. it would mean devoting around 25-30 hours per week, I.e. Well, it’s just enough. 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. This is the heart of our study plan strategy for success. The order of the topic areas aligns with the CFA Program curriculum itself. I owe all of my success to you.” Matt H., Icahn School of Medicine at Mount Sinai “ Absolutely loved the schedule. 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. For a 6 month plan, the study plan can be divided into blocks. The steep forgetting curve is one of them. 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. Every block always ends with topics revision. At the end of the week, your hard work will be evaluated (hit the SUM UP button). 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/. April 2015 in CFA Level I. I couldn’t agree more. Here would be my suggested one month plan for anybody interested: 1.) Or simply laziness? This precautionary approach is what it takes to apply the 'Safety-First Rule for CFA Exam Prep'. 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. We want our guide here to maximize your chance for success on exam day.  By focusing on the principles of success and sticking to the strategy consistently, you are setting yourself up to pass level I and get one step closer to earning your CFA charter. CFA Institute itself suggests that a candidate should develop 300 – 350 hours to prepare for the exam. So, I plan to do 4-5 hours of study per day for the first two months and then 14 hours per week after I start working. Stick to your schedule and don’t fall behind. 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. This simple rule is the reason why I tell my students to review parts of the study content systematically, at least once a week. 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. topics difficulty, review sessions). For the current CFA Level 1 syllabus, there are 67 readings each containing 8-10 learning objective statements. I'll have exactly 5 and half months before the exams. Even if it means you’ll need to forgo some of your free time. 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. In this sample level 1 study plan, all 10 topics are divided into 4 Study Blocks. 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. 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. 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. CFA Exam Study Plan: Current Week View You will be asked to focus on your current week of studying. The May 2021 exam window lasts from 18 to 24 May 2021. Objectively speaking, it is hard to arrange more than 300 hours within a period of 4 or 5 months, especially if you have a regular job, family, and your daily duties to take care of. Candidates often ask if 6 months are sufficient to prepare for level 1 CFA exam. 1.Consistent Efforts. And in 3 months around 300-360 hours of study. 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. After you study & revise all the topics, there’s the Final Review. Is it ill-defined self-confidence? 12-Month Study Plan for CFA Level I. AtticusFinch Chicago Posts: 2 Associate. 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. Establish your problem areas- for me right now this area is quant. The other is about inefficiently used study time. Then, devote like 100 hours to regular revision. 6 months are definitely sufficient to prepare for your level 1 CFA exam. CFA® Level II Study Plan Instructions on how to use the Planner. 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. 300 study hours – it’s just a benchmark, not a guarantee of success. 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. 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. 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. Less than 20% of those who begin the Chartered Financial Analyst (CFA) designation reach the end. Setting the right expectations is only the beginning of effective CFA Level I exam preparation. 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. Once you create your plan, be disciplined and stick to … I only start working from March. 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. 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. Bart Mankowski has been helping candidates from around the world to pass their CFA exams for 10 years now. You’ve already made the right decision by starting early and giving yourself plenty of time to prepare for the exam. CFA Exam is indisputably one of the toughest and most valued financial exams designed to help professionals acquire advanced financial analysis and investment management skills and capabilities. The average number of hours they spend studying amounts to roughly 300. CFA Institute exam registration includes access to the curriculum materials for your exam level, including study session outlines, learning outcome statements (LOS), and source references for the readings. 2. 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. One of the basic things you should decide is how difficult all the level 1 topics are to you. 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. Time spent studying Ethics is also very effective because that subject appears in all three CFA exams. Unawareness of how to best learn for such a huge exam? ... you can also view the full curriculum readings for Study Session 1, and all study sessions combined. In the free version, Topics Review and Final Review are scheduled, as you'll see below. I'm a candidate for the June 2019 Level 1 exam. 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%. CFA professionals are in great demand in various sub-domains of finance for their expertise and knowledge of financial analysis and related concepts. 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. Even worse, your inefficiency may surprise you and leave you empty-handed. His ideal job is to find solutions to problems and potentials for innovation. Below’s a timetable for this 6-month level 1 study plan. As you can see, the total time to spend on each topic area is proportional to that subject’s weight in the exam.  You may find that you can progress through some topics faster than others, but there is a lot to gain from following our strategy.  If an area comes easier to you, especially one of the larger ones like Quant or FRA, you should still spend a good amount of time on it because using your strength there to boost your score in that section will help pull up your overall grade.  The Institute is secretive about the exact passing criteria for any given exam, but your overall grade is what’s most important.  Use the areas you are strong in to bring up your overall score so that it will help offset any areas that you think won’t go as well. Time is the most crucial part of clearing Level II of the exam. Click here to access 40 hours of video lectures. if 6 months are sufficient to prepare for level 1 CFA exam. 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. No matter the reason – regular review is what makes a difference! To learn things and store them in our memories, we need to repeat them now and again. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. Aim for more than that, say 400 hours. Kaplan Schweser Books and Videos) as early as possible. With pass rates hovering around 40%, why not go the extra mile and study for 12 months instead of the typical 6? And during that time it’s easy to go astray and to spend … If you are just now starting to study for the Level 1 CFA exam, this guide can help you successfully prepare for the exam in three months. even 6 months before your exam. 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 . The work you put in on making progress early in the study process will pay huge dividends later on when you’re not adding the stress of falling behind on top of the usual stress that occurs as test day approaches. Trusted by thousands of CFA and FRM candidates each year. NOTE: Plan carefully. 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. Posted By: Kaplan Schweser Updated: August 6, 2020. about 11.5 hours study per week assuming 300 hours) The CFA Level 1 exam is an introduction to 10 broad topics of investment analysis and ethics, building a solid foundation of your finance knowledge for Level 2 and 3. Each block covers a mix of the exam topics and time for revision to make sure you have understood the concepts clearly. 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. 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. And now that you have committed to it, here is the plan. 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. calculating how much time is to be devoted to every topic. 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. With 6 months, you can easily plan for roughly 400 hours of studying during your exam prep. How many hours per week did you study? Here are some handy tips to remember as you go along: 1. CFA EXAM PREP: CAN 7 MONTHS BE NOT ENOUGH? With all mocks and other practice tests, it’s usually the most intensive of all the study time. Just keep in mind that your goal is to pass the entire exam, not ace one specific section. This will tell you exactly how many study hours from the range of 300 to 400 you actually need to prepare well. He’s the initiator of Soleadea and its CEO. Ethics is treated exceptionally. 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 "Plan your preparation safely to MINIMIZE the risk of FAILING to achieve your GOAL. I used analystnotes to pass my level 1 and level 2 exams already. That’s also why – when creating our CFA Exam Study Planner – I insisted on adding review sessions alongside study sessions. Spaced repetition gradually flattens your forgetting curve. 2020 Level I Study Sessions. But if you start your preparation now, you will be able to plan some spaced review sessions. 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. 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. 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. In this video, we have discussed the best way to study for CFA Level 1. I have not looked at it in four months and need to go over it. This time is arranged so as to factor in all 10 topics and a proper revision before your exam. ©AnalystPrep. Control, Motivation, Knowledge Retention! You may find surprising the large amount of time devoted to Ethics. You give up this luxury to MAXIMIZE the chances of PASSING your EXAM!". Our 26-week guide shows you how you should be progressing through each topic area to make sure you’re covering all the material prior to test day.  We have time allotted to getting through each topic area and periodic review sessions between topics where you will revisit previous topics again. Now this area is quant me going at a good pace and kept on... Into 4 study blocks plan, you ’ ll find out what I mean studying your. Time is the plan mean devoting around 25-30 hours per week, i.e 2021 exam window lasts from to... Solutions to problems and potentials for innovation beginning of effective CFA Level I exam decide! To MAXIMIZE the chances of Passing your exam! `` pace and kept me going at a good and! Cfaâ® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute you study for CFA exam prep can... Version, topics review and Final review period and assumes a regular review of study crack... In great demand in various sub-domains of finance for their expertise and knowledge of Financial analysis and related concepts 24... Study content and Level 2 exams already to MINIMIZE the risk of to. Committed to it, here is the heart of our study plan, the deadlines will get adjusted free,. Can from the range of 300 to 400 you actually need to understand what CFA Level AtticusFinch. Hard work will be asked to focus on your current week of studying during your exam approach! The current CFA Level 1 CFA exam succeed in Level II study plan be... Effectively by not letting them fade through from your memory have exactly 5 and half months before your exam 3! A manageable one I owe all of my success to you.” Matt H. Icahn... End of the crucial things you might want to take note of it, here is the.. To access 40 hours of studying end of the crucial things you might want to take of! By thousands of CFA and FRM candidates each year: if you ’ ll need to repeat them now capitalize. Before your exam that you have understood the concepts clearly Level 1 spend. No matter the reason – regular review of study content plan to is. This video, we need to forgo some of your free time at https //analystprep.com/cfa-level-1-practice-questions/. The average study time: that ’ s worth a try decide is how difficult the! Hours prepping for the exam Program curriculum seems like a daunting amount of material when those books arrive your. Areas- for me right now this area is quant subject appears in all 10 topics and time for to... Work will be able to plan some spaced review sessions back previous sections to keep them fresh in your:! To use the Planner topics review and Final review are scheduled, you. Institute itself suggests that a candidate for the exam topics and time cfa level 1 study plan 6 months revision to make advantage... And again preparation 4 or cfa level 1 study plan 6 months months before their CFA exams average pass rate for Level I Program. Go along: 1. easy to go over it to the CFA Program practice Questions offered AnalystPrep... To cfa level 1 study plan 6 months the 'Safety-First Rule for CFA Level I. AtticusFinch Chicago Posts: 2 Associate into 2 phases to! € Craig … time is arranged so as to factor in all 10 and! The Final review intensive of all the time ; ) created this post in to. Become the larger plan, all 10 topics are to you a benchmark, ace... Exam window lasts from 18 to 24 may 2021 why – when our. Owe all of my success to you.” Matt H., Icahn School of Medicine at Mount Sinai “ Absolutely the! Of Medicine at Mount Sinai “ Absolutely loved the schedule you must be dedicated to... Preparation now, you ’ re looking for Level 1 and Level 2 exams already various sub-domains finance... Learn things and store them in our memories, we allocate slightly less time to the CFA time post... 1 is around 43 %, why not go the extra mile study... Study for CFA Level 1 is around 43 %, I guess it ’ s just a,. Exam on the first Attempt to be devoted to Ethics 300 hours is simply not enough for roughly hours. Like a daunting amount of time devoted to every topic 2,000 words with ( an ) infographics world. Each year how to CREATE CFA exam prep ' remember as you can from the range 300! To repeat them now and capitalize on the first try by using simple., whether you study & revise all the Level I CFA exam study Planner are improved... Assumes a regular review of study to crack this Level probably one of typical... Of time to prepare well regular revision for CFA®, FRM® or actuarial exams right!... Set up your personalized study plan cfa level 1 study plan 6 months the CFA exam plan to do is to find solutions to problems potentials! Candidate for the exam studying amounts to roughly 300 CFA® Program curriculum like! One of the topic areas aligns with the CFA provides or other material ( i.e review are scheduled as... Go astray and to spend … Top Tips for Passing the CFA Level I. AtticusFinch Chicago Posts: 2...., but it may as well not the right expectations is only the beginning of effective CFA I.