I passed with schweser only. It was a marginal pass. And even before exam i had a strong feeling that my knowledge level is quite shallow. If you have to take one advice, please do EOC from CFA books. I second chester007 on almost every thing what he wrote.
Agree with chester007 too. Schweser is good as it summarises all the stuff that you need to know, but pls practice the EOC qns because they are what determines whether you truely understood your stuff.
using the Schweser notes alone can be helpful. But it depends from person to person. How much to do understand and can apply using just the notes. They are complete and have all the info. But you must realise that it is a summarized version of the CFAI books. At the risk of being repetitive (only to emphasize importance), EOCs from CFAI are must.
I used Schweser almost exclusively for LIII and passed. The notes are great, and cover realistically about 100% of what you need to know to pass, that said CFAI material will have some additional material that may or may not show up on the exam. I started reading both the Schweser notes and the CFAI material, and I found the CFAI material to cover the same stuff, though was much lengthier and more difficult to get through and I stopped going through the CFAI books. The QBank is just OK. I used it mainly to drill down the main points and to make sure I had the formulas down. One thing the CFAI books are excellent for are the end of session questions which you should do for each study session. Pretty much everyone will tell you though that practice exams are the best way to really prep for the exam. As you do practice exams your weaknesses will come out, and that is where the Qbank can come in handy and you can drill through dozens or even hundreds of questions on a particular topic to get up to speed.
Used only schweser for all three levels and passed. (almost all ppl i know cleared various cfa levels used schweser exclusively.) In fact i have hardly come across anyone personally who has used the CFA curriculum.
I find that schweser gives nice consice explanations for most of the topics and this is more than sufficient as a majority of the topics are not really that difficult to understand. (the ones you find too difficult can obviously be looked up from the main curriculum) The main benefit of this is that one can quicly go through the entire curriculum once and get a good grasp of what fits where in the broad portfolio management process. This is especially important as i think a key part of level 3 is to be able to pick points from various sections of the curriculum and answer accordingly.
Schweser in my view is more than enough. The videos on Individual and Institutional portfolio management is really good. I thoroughly enjoyed watching other Scheweser videos too. Whatever you do, do well.
I have cleared L3 in my first attempt and i didnot even order the hard copies of CFAI books. I have never seen those CFAI books. I prepared from ONLY schweser material and schweser videos. Honestly wirtten all the 6 question papers of Schweser and 3 past question papers from CFAI. Following is my result where i have aced both morning and evening. (Didnot get 70% in 6 topics). I assume i am waay above the MPS and cleared the exam quite comfortably.
Preparing for the CFA Level 1 exam is no easy feat, and choosing the right study materials is essential for success. The CFA syllabus is vast and covers a broad range of topics, so selecting the right study materials can significantly affect how well you perform on the exam. The CFA Institute books are the most comprehensive, but their length can make studying them challenging. This is where Schweser notes can come in handy. Schweser notes are designed to help students prepare more efficiently and serve as an excellent supplement to the Institute books.
When it comes to preparing for the CFA Level 1 exam, choosing the right study materials is crucial for success. With a vast syllabus that covers a wide range of topics, studying can be overwhelming without the proper guidance. This is where the importance of choosing the right CFA study materials comes into play.
The CFA Institute books are undoubtedly the most comprehensive and authoritative source of information for the exam. They are meticulously written and cover each topic in-depth, leaving no stone unturned. However, these books can be quite lengthy and time-consuming to read through.
This is where Schweser notes come in handy. They are well-known study materials designed to help students prepare more efficiently for the exam. Schweser notes cover the essential concepts, formulas, and practice questions in a concise and easy-to-understand manner. As a result, they can help students grasp the concepts more effectively.
Choosing the right study materials can make or break your success in the CFA Level 1 exam. Hence, investing in high-quality study materials or courses is crucial to ensure that you are adequately prepared for the exam. In addition, investing in the right CFA books or study materials will help you save time, stay focused, and achieve your goals.
Now, let us understand what is the CFA Level 1 exam? The CFA (Chartered Financial Analyst) program is a globally recognized professional qualification for finance and investment professionals. The Level 1 exam is the first of three exams that must be passed to become a CFA charter holder. It covers a wide range of topics related to finance, including ethics, financial reporting and analysis, corporate finance, economics, and more.
The CFA exam is a six-hour computer-based test divided into two three-hour sessions with a lunch break in between. Each session consists of 120 multiple-choice questions. The exam is offered twice a year, in June and December, and candidates must pass each level in sequential order.
Schweser Study Materials is a series of study guides and textbooks designed to prepare candidates for the CFA exams. Schweser was founded in 1990 and has provided study materials for CFA exams for over 30 years. They are among the most recognized names in the CFA exam preparation industry.
It is important to remember that Schweser study materials are designed to supplement the CFA Institute curriculum, not replace it. Therefore, candidates should use Schweser materials in conjunction with the CFA books to ensure they have a comprehensive understanding of the material.
All of the alternative study materials mentioned above can be effective in helping you prepare for the CFA Level 1 exam. However, the ProSchool CFA Program is the best option for you as they simply the content of CFA Institute books which are the most reliable and comprehensive source of information.
Thank you for reading this comprehensive guide on CFA study materials, where we explored the different types of study materials available, compared and contrasted them, and provided an objective assessment of their effectiveness.
Ultimately, the key to success in the CFA program is dedication, hard work, and a thorough understanding of the material. Therefore, whichever study materials you choose, give yourself plenty of time to study, practice, and review the concepts covered in the CFA books.
As the world of finance grows in complexity, the Chartered Financial Analyst (CFA) designation has increasingly become a gold standard for finance professionals seeking to demonstrate their expertise and commitment to the field.
With the aim of supporting prospective candidates in their preparation for this exam, the CFA level 1 notes contained in this article provide a succinct overview of the ten exam topics in a format that is comprehensive and easy to navigate.
Understanding the CFA level 1 exam can be quite daunting without a clear study roadmap. Our comprehensive guide will provide you with structured notes and a thorough overview of these ten topics to help you ace the exam.
The ethical and professional standards section serves as the moral compass of the CFA curriculum, delving deep into the role of ethics in the investment profession and the challenges of maintaining ethical behavior in various contexts.
Quantitative methods such as time-series analysis and linear regression form the backbone of data analysis, providing you with the tools to be able to effectively organize, visualize, and utilize financial data.
While these quantitative methods are often challenging among candidates, using the right study resources can greatly simplify these complex concepts and allow you grasp them quickly, thereby elevating your confidence as the exam approaches.
This section will take a deep-dive into corporate structures, governance, and risks. You will learn about different corporate structures (i.e., sole proprietorships, partnerships, and corporations) as well as their associated benefits and risks.
The Derivatives section of the CFA curriculum provides an introduction to derivative markets, instruments, and their role in investment management. For this topic, you must possess an understanding of the following fundamentals:
Hedge funds, private equity and debt, commodity investments, real estate, and infrastructure are key examples you should be familiar with, as well as the main ways to invest in these and how to appraise performance.
While the difficulty of CFA exams will depend on your academic background and professional experience, many candidates find Level 1 challenging because it requires a large volume of new concepts and terminologies to be learned. For guidance on how to ace your exam, see our comprehensive CFA Level 1 article.
The most difficult part of the CFA Level 1 will depend on your individual background and strengths. While some find Quantitative Methods challenging due to the mathematical nature, others struggle with Financial Reporting and Analysis due to the detailed and technical nature of concepts like cash flow statements and comprehensive income.
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