By Morgan International Staff Writers
Taking CFA exams can be a daunting prospect. Here are 10 steps that will put you on course to getting the best results possible.
Taking CFA exams can be a daunting prospect – and there’s no doubt that a pass requires a huge amount of work. Here are 10 steps that will put you on course to getting the best results possible.
- Plan for the long run
Taking CFA exams is no small thing. Candidates are advised to begin preparing six months before the exam and to pursue several hundred hours of study over this period. This will allow you to spend significant amounts of time on every topic and to revisit specific areas of study, ensuring that the subject matter is cemented in your memory.
- Make the best use of your time
It’s all too easy to put off studying, particularly when you have other commitments. To ensure that you are able to commit time, block off hours in your calendar. If you stick to this, it will soon become a habit.
- Approach studying in a way that’s right for you
People learn in different ways. Find an environment that’s comfortable and where you can stay focused, whether that’s in the library or at home. Then think about how you absorb information: do you get the best results just from reading, from writing up notes or from talking through your studies? Try to mix things up, but use the techniques that work most effectively for you.
- Drill yourself on the exam
Practice makes perfect, so there’s a lot of value in running through test questions and past papers. The key thing is to ensure that you have a rounded understanding of the full curriculum.
- Don’t silo your studying
You might be tempted to follow the curriculum one area at a time – but you may actually see much better results by concurrently studying multiple topics, and seeing how the big picture fits together.
- Ensure you cover everything
It is important, however, to make sure that there aren’t any areas that you’ve forgotten about or ignored. Even if you think that they won’t come up in the exam, neglecting topics could trip you up in a big way.
- Take advantage of material supplied by the CFA
The CFA offers a great deal of material online that can be extremely useful when preparing for exams – so make sure to take full advantage of it.
- Take care of your health
You might feel like you have no opportunities to take a break, but it’s important to stay healthy, to get good sleep and to exercise while studying. Though this might take a little time, it’ll put you in a better position, both mentally and physically, and better prepare you for learning and retaining information.
- Make sure you have everything ready for the exam
When it comes to the exam, make sure you allow plenty of time to get there and that you have all the materials you need – and only what you’re allowed – with you.
- Take a sensible approach to the exam
It might seem obvious, but it’s important to have a strategy to how you approach the exam – manage your time, and work through the simple questions first; answer every question, even if you have to guess; and remain calm!
To gain more insights into becoming a chartered financial analyst, take a look at our professional training programmes here. https://www.morganintl.com/cfa/#