The other day, I was looking around some CFA forums and stumbled upon a candidate that was exhausted after studying every day since June, trying to get ready for the December level 1 exam. That is insane.. I can’t blame her, I know that is exactly how many candidates do it. I would argue that it’s not the right way to go though. Sure, every person has its own method but I’d argue that my 12 week CFA studying plan ebook is a much better way to increase your chances of passing.
It’s Not About The NUMBER Of Hours
I don’t really understand why the CFA institute always talks about the number of hours that its candidates spend studying on average. I guess they want everyone to know just how difficult passing the exam really is. But let’s face it, that number is worthless!!!
The number of hours that you are able to spend in the first few months don’t help anywhere near to how studying hourrs can help in your crunch time. In fact, in some instances, those hours can end up hurting the candidate. How? I would say the main benefit of studying very early on is to get familiar with the material. The main drawback would be to get yourself exhausted before the actual important period starts. If you’re not 100% ready, focused and physically able to study in the month before the exam, you are setting yourself up for a disaster. You cannot ensure that you will pass the exam by studying months ahead, but you can ensure that you will fail.
Keep Yourself Rested And Interested
It’s not even only about keeping yourself rested. As important is keeping yourself interested. Don’t get me wrong, I LOVE finance. I’m generally very interested in the exam’s material (could not say that about every section..cough ethics cough… but even I would get totally bored by the material if I ended up spending several months studying every single day. I always though it was key to get away, think about other stuff (anything but the CFA). It might just be me?