Overview about CFA Exam – A Challenging Exam
Many years ago, I began my CFA study path with great enthusiasm and passion since I want to prepare the best thing for my future career in the financial world. However, I wish that there was a person who could give me useful guidance as well as helpful sharing about the experience to deal with CFA Exam.
By this way, I can have an overview about the adventure which I have to go through with CFA without facing too many difficulties in the beginning. As a result, I am going to show some information about CFA Exam to those people who are struggling with this issue at this moment.
After my sharing, I hope that everyone can gain more detailed understanding as well as your confidence with the upcoming test.
How to become eligible for CFA Exam?
For anyone who is interested in CFA Exam, you need to know how to apply for this program for sure. You can seek for the information either on the official CFA Institute website or via the experienced candidates. In particular, there are some requirements that you need to have so as to become eligible for CFA Program.
First of all, you need to have the bachelor degree, which is considered as the compulsory factor to enter for the CFA Level 1. On the other hand, you can be a final-year student when you make the CFA registration. And of course, you need to know the important point is that your degree is not necessarily related to finance and investment for the admission.
Secondly, at the time of your registration, you have to meet all of the criteria listed in the professional conduct admission. To ensure this part, you will have to sign some important statements during the application process such as the Professional Conduct together with the Candidate Responsibility.
Last but not least, you will need to have a valid international passport, which is considered as the vital elements to complete the whole registration process. Therefore, after reading all of the information, you can totally know whether you get the eligibility to enroll for CFA Program or not.
I used to be confused about this step some years ago so that I wasted too much time and effort. As a result, you need to consider this matter carefully to have the perfect starting point for CFA.
How to Know You Are Ready for The CFA Exam
Have the proper study duration
In my opinion, CFA Exam is regarded as the effective way to test not only your intelligence but also your endurance. For everyone, I am sure that you have to spend at least 4 months on reviewing the whole program, and then you can have sufficient knowledge for CFA level 1. With CFA level 2 and 3, you may need approximately 5 months in total according to my experience since these levels are much harder.
During the exam, you have to prepare to recall your understandings and apply them to real-life situations at the same time. As a consequence, you cannot spend little study time to obtain adequate knowledge in the end.
Moreover, make sure to have the regular and thorough review before your exam date, which will bring you many benefits regarding the increase in memory. By doing this, you can complete the test excellently without any barriers.
Do the Mock Exams
To be honest, mock exams are very useful for any CFA candidates since they will help you to review all of the knowledge to prepare for the actual test. You can identify your weak areas and then have a careful revision again.
With all of the CFA Levels, I suggest that you should do a minimum of five mock exams which will give you the real experience before the actual exam. By this way, you can know how to allocate the time accordingly and increase your stability. Furthermore, getting familiar with the test module will make you less nervous when facing the real one.
Besides, there is an important point that I have to tell you immediately. You should not try to do the mock exams as fast as possible since you will actually commit the mistakes for sure. When I first started studying CFA Exam, I always felt confident with my knowledge and I spent a short time on doing the mock exams.
However, the faster I finished the test, the lower my score was, and it became my lifetime experience until now. You need to spend about one and a half minutes on each question so that you can have the answer in the end. Making full use of the time will definitely give you more benefits.
Sacrifice your daily enjoyment
With no doubt, when studying hard for the CFA Exam, I have to forget all of the leisure time when I can go out with my beloved people. I have to make the best efforts to get my desirable outcome within a few months so that I will not regret in the future.
Whenever you want to relax and set the study aside, it will create a bad habit since you cannot have enough time for studying. Therefore, you have to be patient and determined even though you are tired of the hard work. By keeping a study routine within a short period, you can maximize your satisfaction afterward.
For instance, you have to sacrifice not only your individual relaxing time but also the valuable time with your family and your friends. I know that you will find it difficult to balance the time for everything in your life, but you have to know your priority at this time, and then you can identify the best solution to this problem.
If you are facing this challenge right now, you do not need to worry too much since every CFA candidate has to go through this path once in their life. After that, they can achieve the success and feel proud of this journey.
However, if you can reduce the stress during your study time, this will be the best method for sure. I highly recommend that you should look for how to manage the time properly as well as improve your organizational skill, which will allow you to maintain the balance between your study and your ordinary life.
In summary, I hope that all of my sharing related to the readiness for CFA Exam will be a great help for you. However, in case you have any confusion or queries, do not hesitate to keep in touch with me anytime.