While we have discussed CFA studying a lot and even discussed the idea that at some point it is too late to start studying, one question that is often asked is can you start too early? For example, many candidates have recently signed up for the December exam and we are still over 5 months away from the exam. Is that too early to start studying? I would of course argue that it is not and I don’t think you will find many that do think it’s too early. I would keep a few points in mind however if you plan on making the CFA studying a 6 month affair instead of intending to pass it in a fraction of that.
Set Up A Solid Plan And Stick To It
You have more than enough time to start planning your study. When should you have finished reading the material? Doing practice exams? I always recommend doing one practice exam very early on as it will generally be a major motivational point.
Do Not Lose Your Time
Many candidates start early but feel it’s so far away that they are very unproductive. You do not have time for that. If you are not going to make your studying point count, there is no point in doing it. You should be learning and understanding concepts every time you open your books
Do Not Learn What You Will Forget 10 Times Between Now And December
While some formulas must be understood, others must be learned by heart. There is no point in trying to learn them right now. You can simply write them down, take a note and get back to them. If you are doing practice questions, use your notes. At this point, the only thing that matters is understanding, not learning concepts by heart.
Don’t Burn Out
This is critical. You can spend time reading, studying, practicing, etc. However, if by October you are tired of the material and need to take extended breaks, you are doing yourself a huge disfavor. Remember that your current studying period is all about setting you up right for the critical period.
I hope my points have come across clearly, I think it makes a lot of sense to start early but only if you do it right.