Things to Avoid While Preparing for CFA Level 1 Exam
CFA is the golden standard in finance, one of the highest certifications in the investment management profession. This interests many candidates and is drawn to the allure of the journey of clearing each level.
It's a three-level exam, but many candidates are unable to clear the CFA level 1 online. The reason could be that many candidates misjudge their financial and mathematical abilities, and most importantly, they miscalculate their ability to prioritize their studies.
NEGLECTED STUDY HOURS
It takes at least 300 hours to pass each level of CFA. Many CFA candidates are either students or working professionals, so CFA candidates have other commitments also. The candidates have to juggle the functions of these roles.
CFA level 1 best online coaching contains basic financial terms and a considerable measure of standard information and numerous candidates would have come across these terms during their previous financial education.
CONCEPTUAL GAPS IN KNOWLEDGE
It is important to practice topics that you strongly believe will be tested in the Level I CFA exam, ones with the highest weightage and lowest weightage topics are also crucial.
Highest weightage topics ( eg; Ethics, FRA, Quants) should be more focused if the candidates are not strong in those topics and lower weightage (eg; Portfolio Management, Derivatives, Alternatives) topics along with theory-focused topics can be left for the end.
If a candidate lacks a clear understanding of multiple concepts, the first step is to clear those concepts through study notes, and trainer assistance.
Third-party notes can help here but relying too much on them is not considered healthy. Therefore, a mix and match of third-party notes and curriculum can help candidates to keep their preparation up to date.
INEFFECTIVE STUDY METHOD
Most of the students believe- in creating their own notes after studying the chapters of each module. Although, the mere size of the CFA modules signifies that setting up your notes with no external help is very time-consuming.
If the candidate works on this strategy then it would be difficult for them to cover the entire syllabus, leading to gaps in their insight due to doubts and a lack of mock exams.
The more you practice a good amount of questions, the more prominent the odds of accomplishment. The candidates are advised to revise concepts and practice mock exams before the month of the online CFA Program exam
LACK OF ENOUGH PRACTICE
The most convincing way to clear each CFA level is to practice as many questions as possible. The most common issue students face is that while attempting mock exams, the candidates often get confused.
Go through some important study material like the end-of-section questions, mock exams, and question bank tests before going for the CFA level 1 training online exam. These will prepare you for tips, tricks, and methods to solve questions quickly.
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