Studying The CFA In A Digital Era
Studying used to be rather difficult in a few ways. One of them was that studying required you to either have your CFA institute books or the Schweser ones.
The Benefits And Challenges Of New Technologies
I personally think that the greatest challenge is that it’s easy to become overwhelmed. In theory, you could read the books, summaries, try qbank questions
, mock exams (official and non-official), visit websites, forums, try ebooks (such as the one I wrote
!), try some podcasts and mobile apps, etc. There’s no end really and you could possibly end up studying for several weeks on one specific subject.. worst of all? You might not even understand the material. Why?
It’s All About The Plan
More than ever before, having a solid plan is critical. If you try to understand every page/minute of material, you’ll never get to the end of it.
The Critical Part
Have a clear plan and be consistent. Every week, plan with that plan in mind. Don’t rethink it, redo the plan and adjust every few days. You’ll end up losing more time than whatever you do gain. At the most, the plan should be updated every few weeks.
Bonus Material In Bonus Time
I’m more than fine with adding other sources of material. For example, if you have a podcast that discusses the material, there’s certainly no harm in listening to it on your way to work. Why? Cause it’s not as if you would have been doing your studying, qbanks or mock exams. But if you’re at home, on a planned evening of studying, please don’t start to wander around looking for other ways to nail the material. Passing the exam, as I always say, is about having a plan, sticking to it and focusing on the key material. That is what will make you pass or fail.
Do You Struggle With This?
I’m the first one to admit that I can easily have my attention taken away, especially when I’m online, while studying. There are some apps that block out other websites or stuff like that and I know I could use those but in general, if I remind myself of how critical this exam is for me, what would happen if I ended up failing, etc.
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