Cfa Study Outlines

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  • Topic: Chartered Financial Analyst, CFA Institute, Psychometrics
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  • Published : April 28, 2012
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CFA STUDY STRATEGY v.2
Difficulty of Material/Exams Series CFA Level I CFA Level II CFA Level III *Lowest Difficulty **Second Highest Difficulty ***Highest Difficulty

Difficulty of Material ** *** *

Difficulty of Exam * ** ***

*Quality of Study Material (Text) Source CFAI Curriculum SchweserNotes Stalla Notes *Quality of Supplementary Material Source Schweser Seminar Slide Workbook Schweser Mindmaps Schweser Secret Sauce Schweser’s Quicksheet Quality of Study Questions Source CFAI Curriculum EOC Problems CFAI Curriculum Blue Box Examples Schweser EOC Problems Stalla EOC Problems SchweserPro QBank Quality of Practice Exams Source CFAI Mock Exam CFAI Sample Exam Schweser Practice Exam Score (out of 10 points) 10 10 7 Score (out of 10 points) 10 10 8 7 7 Score (out of 10 points) 10 8 8 7 Score (out of 10 points) 10 8 6.5

*Quality describes the strength of the correlation between the study material and what is actually tested on the CFA exams. [These ratings are subjective and are intended to compare the relative rankings of the materials]

Strategy (given 5 months study time)

Level I
 If < 15 hours/week - Months 1-4: Schweser Notes/All EOC (End of Chapter) problems - Month 5: Schweser Slides=>Take Practice Exam (Repeat 5X) BOOT CAMP encouraged (Take at least 2 practice exams before boot camp) (Boot camp refers to any commercial preparatory workshop—Schweser, Stalla, etc.—generally offered a month before the actual exam and lasts anywhere from 3 days to a full week) If > 15 hours/week - Months 1-4: CFA Curriculum/All blue box examples/All EOC Problems - Month 5: Schweser Slides=>Take Practice Exam (Repeat 7X) BOOT CAMP encouraged (Take at least 2 practice exams before boot camp) Question Format: - Morning: Single Question Multiple Choice - Afternoon: Single Question Multiple Choice





CFA Curriculum LI examples and EOC problems are most representative of exam questions.

Level II
 If < 15 hours/week - Months 1-4: Schweser Notes/All EOC problems - Month 5: Schweser Slides=>Take Practice Exam (Repeat 5X) BOOT CAMP encouraged (Take at least 2 practice exams before boot camp) If >15 hours/week - Months 1-4: CFA Curriculum/All blue box examples/All EOC Problems - Month 5: Schweser Slides=>Take Practice Exam (Repeat 7X) BOOT CAMP encouraged (Take at least 2 practice exams before boot camp) Question Format: - Morning: Item Set Multiple Choice  READ THE QUESTION FIRST! 90% of all questions asked follow the item set chronologically (first portion of item set relates to 1st question, 2nd portion relates to 2nd question, etc. First paragraph is usually an introduction that can be skipped to save time) - Afternoon: Item Set Multiple Choice  READ THE QUESTION FIRST! 90% of all questions asked follow the item set chronologically (first portion of item set relates to 1st question, 2nd portion relates to 2nd question, etc. First paragraph is usually an introduction that can be skipped to save time)





The CFA LII curriculum is the most extensive of the series. Don't get bogged down on any particular subject matter. Get through the material and rely on the Schweser Slide Notebook as it does a great job in capturing the essence of the material. The key here is practice, practice, practice. Level II is a math test and requires considerable memorization.

Level III
 MUST READ CFA CURRICULUM!





Months 1-4: CFA Curriculum/Blue box examples/EOC problems Month 5: Schweser Slides=>Take practice exam (8X) BOOT CAMP strongly recommended (Creighton University provides an exceptional LIII Boot Camp—Marc Lefebvre teaches the course and has put together an impressive strategic outline) Question Format - Morning: Essay  Focus on writing key words (study previous actual CFA exam answers and learn what these key words are—just remember that the CFA guideline answers are also considered “perfect” so don’t think you must include everything stated)  The morning essay questions are the least...
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