I wanted to get started on my preparation for June 2013 Level II and saw you had recommended doing the CFA curriculum readings (with exception to Ethics) post–Labor Day through December. Do you also recommend doing the accompanying problem sets with the readings or saving those for later (i.e. Jan–May) when I would also use the prep provider materials (i.e. Schweser)?
–Alfred M., Level II Candidate
"How should I study for the CFA exams?"
In my previous article, “When Should I Start Studying for the CFA® Exam?”, I outlined how a candidate should prepare for the CFA Level I, II, or III exams in June and the CFA Level I exam in December.
The most important point I raised in Part I is that you should have finished reading the curriculum readings and/or your prep provider’s materials by April 15th if studying for the June exam and October 15th if studying for the December exam.
This second article will help you understand what you should be doing from April 15th until the June exam day or from October 15th until the December exam day. If you have completed the CFAI curriculum readings or the prep provider’s materials by April 15th or October 15th, it is not time to kick back and relax. In my opinion, you have only completed 50% of the work if you are a Level I candidate, 40% of the work if you are a Level II candidate, and only 30% of the work if you are a Level III candidate that is needed to be prepared for the exam.
When should I start studying for the CFA® exam?
This is a timeless question and I can’t think of any class I taught where this has not been asked. It is also not level specific. I have heard it from Level I, II, and III candidates. As we have covered in the past, studying for any CFA® exam is not to be taken lightly.
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