Sam is our first CFA exam blogger. He was born and raised in Illinois, currently working in New York. He failed Level 1 in June but will retake in December.
I am 213 days into my CFA journey. Looking back, if I am to pick the #1 tip to pass Level 1, I would say: Get yourself enough time.
My CFA journey as a retaker is vastly different from what I experienced in the first attempt. Back then in March and April, I was struggling and very stressed, because I wasn’t able to sit down and really understand a concept before moving on. The issue? Not enough time.
I was given numerous advice on the utmost importance of mock exam, and how one should work on 5 to 6 sets. I barely went through one. Why? Not enough time.
My Progress from FRA to Equities to Corporate Finance
As you may have read from my previous post, the virtuous cycle began when I finally tackled and mastered the fundamentals in FRA (the 3 statements). From then on, things have been smooth and I was able to knock out various items in the financial statements one by one.
Now, FRA seems to come almost natural to me. It was amazing considering I only spent a week or so of studying. But this has been studying at a stress-free, and therefore planned, efficient and effective way.
Equity was also relatively easy, because I am interested in business valuation. I did pretty well with a >70% in my first Level 1 too. So I should be all set.
Corporate finance is a blend of the two, so I really want to ace it this time.
This is My Plan to Hit the MPS…
I figured that FRA/CF/Equity was 50% of the exam, and if I could get 80% of those right, get 80% of the Ethics (which you know will be 10%), and get 50% of the others, then that should earn me a passing score.
But I Want to Pass with Flying Colors
Now that I have the time, I aim to use the same FRA study strategy to tackle the rest of the study sessions. And yes, I can’t afford to bomb Econ this time (I won’t!)
How is everybody doing? Hope all is well!