The short answer is no.

In the fields of decision theory and general systems theory, a mindset is a collection of assumptions, methods, or notations held by individuals or groups. It plays a significant role in influencing their perspectives and approaches.

In the context of financial work, a particular mindset can be an obstacle to study mindset.

(Want to know how effective your current study approach is? Take a 2-minute survey and get your score.)

Why Self Study is so hard

“The biggest reason for failure in the CFA exams is the difficulty of self-study”, says Mark Meldrum. He’s in a position to know. For most of his career, he had the benefit of teaching in a structured educational setting. Students left their rooms, entered the building, and crossed the threshold of the classroom. Through that series of tasks, almost a ritual, students prepped their brain to be ready to learn.

However, when sitting alone after or before a long day of demanding work, without a structured environment, candidates who already have professional commitments face a disadvantage. Longing for the “good old days,” when the transition into a learning mindset was automatic, with syllabi, quizzes, assignments, and midterms providing crucial feedback on progress before the big exam.

(Want to know how effective your current study approach is? Take a 2-minute survey and get your score.)

Shifting Gears: from Work Mindset to Study Mindset

Success at work = knowing a lot, being an expert.

Success in study prep = learning a lot of new things you don’t already know.

A successful student mindset is one that is open to learning and able to focus on absorbing new concepts. It revolves around growth rather than expertise.

So, what’s the magic formula to get into the winning mindset?

We see 3 factors that contribute to success:

1. Acceptance of the needed mindset shift. Embrace the fact that not knowing something is the initial step toward learning — not a barrier.

2. Carving out specific times dedicated to learning, with a defined beginning and an end. This helps you maintain discipline and prioritize learning goals.

3. Practicing a ritual that allows you to transition from a work mindset to a study mindset and back again.

By incorporating these factors into your study routine, you can overcome the difficulties of self-study and cultivate a winning mindset that fosters growth and open-mindedness.

Remember, success in study preparation comes from being receptive to new concepts and investing time and effort into learning.

You have the ability to implement these steps independently and set yourself up for success.

(Want to know how effective your current study approach is? Take a 2-minute survey and get your score.)