You asked questions about how — or whether — to undertake the journey to become a CFA charterholder. Help I’m addicted to my new phone what do I do? What study habits will ensure retention? How do I plan for my last 2 months? All these and more — from our answers to candidates that have proven to work.
Q. If someone is not good at mathematics, so he/she can study CFA?
Yes. It is possible to pass the CFA exams and to be good at investment management without being good at mathematics.
But it is harder.
You do need a proficiency with at least high school algebra. With that, and a lot of hard work, you will pass.
Q. I don’t see how these questions will help determine my success chances…
Our clients pass the exam at twice the averages – and the questions in this survey identify
the factors that have predicted success in our clients; all are based on empirical
evidence behind learning and academic success.
A background in finance, support of employer, and practices
of self-care all matter to your eventual success. For instance, good diet and
exercise supports your brain being at peak performance on exam day.
Q. How do I ensure success and pass the levels?
Hard work and putting in the time in focused study pretty much ensure success.
We find the reasons for the low overall pass rates almost
always are caused by people just not doing the work.
Beyond that, do a serious assessment – where are your
weaknesses? Identify those and add resources and hours where needed to ensure
that you are in the passing half.
Q. How do you analyse the answers to the checkin survey and come up with a result?
Great question!
We coach hundreds of candidates each year on how to prep and
write the exam and the questions are the factors that have predicted success.
And that’s how we came up with the questions. The scores weight
the answers as to impact on your study, and the scores are used to focus
attention on habits that can be tweaked over the next 50 days to increase your
chances of passing.
Q. How do I can study tips from you?
You can get study tips on demand from www.candidatesuccess.us/blog. We share our knowledge and experience from coaching
hundreds of candidates there! Follow us on twitter and Facebook for additional
postings!
Personal attention from a coach comes in two packages – a 13
week program with very high success rate (ask us!) and a mini version for a
tenth the cost – with almost as good a success record. Get direction from those
who have been there and see where hundreds of candidates are at a point in
time, get perspective on how to think about the process, and get a study plan
based on your unique personality. (We write for the curriculum so we specialize
in coaching on how to learn; we partner with the top curriculum coaches for
instruction on content.) Check out more details at candidatesuccess.us/programs.
Q. How can I remember the major formulas in every course?
Remembering the formulas is an exercise of both
understanding and also memorization. The first step to remembering formulas is
to understand how they work to create result. Work through many examples so you
see how the components of the formula interact. Then review, review, review!
The biggest single success factor is hard work. There are
other factors that mean you need to work harder than other candidates.
Q. How can I plan for the remaining 2 months?
Two months is a long time! If
you’ve read the material then these last 2 months are about review, review,
review.
First, go back over your
journal in which you’ve recorded the items you didn’t learn and identified by
what you missed on the chapter quizzes. Master that material.
Second, do mocks. The reason
to do all but 1 mock is just to identify what you still don’t know. After each
one review the items that you missed and master that material.
We recommend doing 1 mock
simulation under real test conditions. That’s your trial run, to practice your
test taking skills.
Take the day before the exam
off. Show up at exam day confident, refreshed, knowledgeable. Pass the exam.
Q. How are you planning to use my data?
We use the data from this
survey to inform you of areas to improve. We also report the totals back to all
participants to give you perspective on your competition!
Q. Are there any upcoming changes to the CFA program?
From CFAI: We don’t expect any more changes before the June 15 exam but there will definitely be changes to next year’s exam. The program is constantly updated to keep candidates up to date for the job market and up to date on the most recent research.
You may know that we wrote up advice on how
Level II and Level III candidates should respond to the change in vignette
questions and answers.
If not, here’s that note from our newsletter about vignette changes in 2/19:
Surprise! The CFA exam format changed last week, with vignettes
in exams Level II and Level III being more numerous and with fewer questions
per vignette. Well, change didn’t happen last week but you got the announcement
of the change last week, some many months after you began to study and with
just three-and-a-half months left.
This could impact your exam prep and especially your strategy
for exam day in three ways:
1) You freak out by the timing and the surprise of the
announcement;
2) The new format will be easier or harder for you depending on
your personal thinking and learning styles; and
3) Whether the (hopefully) forthcoming updated mocks and
explanations of grading differences from CFAI help or hinder your study.
We coach hundreds of candidates each year on
how to prep and write the exam and we keep them up to date on notices from the
CFAI on program changes.
Q. What is the biggest success factor for passing the CFA exam?
The biggest single success factor is hard work. There are
other factors that mean you need to work harder than other candidates. A finance
background makes your work a little easier for instance.
Analyzing strengths and weaknesses and accounting for both
is a sure way to passing.
How are you feeling about your prep? With 50 days left you
have a lot of time to adjust.
Q. What’s the secret to clearing Level III?
There are a few well-known secrets to passing Level III.
Study all the material. Master the concepts of Portfolio Management and know
how all the topics inform PM. There are a few lesser known secrets but matter
more for some people than others.
How are you feeling about your prep? A score of 39 doesn’t
mean you’ll pass or not — just that the questions pinpoint things you can do
to improve your chances! With 54 days left you have a lot of time to adjust.
Our clients pass the exam at twice the averages — because
these conditions predict success.
Analyzing strengths and weaknesses and accounting for both
is a sure way to passing.
If you would like a personal analysis and coaching session
to see what might be helpful to you — let us know. You might benefit from the
Candidate Success Package. We’ve got more info on candidatesuccess.us/programs.
Q. My addiction towards new cell phone has stopped my momentum to prep for Level 3. I loved the way I prepared for Level 2 but finding it difficult for Level 3. I am determined to work hard but not much disciplined this time.
Please suggest some motivation. I want to see ‘We are very pleased to inform you that you have cleared Level 3’ on result day.
PUT YOUR PHONE AWAY!! You can
do this. Follow our tips. Reach out for coaching to boost your motivation and
accountability. Just reply and send us a request for coaching. More info at candidatesuccess.us/programs
Analyzing strengths and weaknesses and accounting for both
is a sure way to passing. With 54 days left you have a lot of time to adjust.
Do you have a question — leave it for us and we’ll get you the answer!
If you have answers for these candidates, please comment below!
[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
