CFA stands for Certified financial analyst which can be effectively cracked with the CFA exam level 1 prep course. It is one of the deemed designations in the field of finance. The CFA has three charters which are referred to as CFA level 1, CFA level 2, and CFA level 3.
Level one includes subjects like CFA level 1 economics, money management and security, accountancy, business mathematics, and analysis. The course is preferred by commerce students who possess a keen interest in money markets and financial management.
Why Choose CFA?
- It is one of the leading global professional degrees in the world of finance.
- The demand for the CFAs is rising creating more job prospects.
- It helps to brush up the analytical and decision-making skills of a person.
- It is not just another random bookish knowledge-based course but provides real-world, practical skills.
The best part about the course is the subjects are the same at all 3 levels, their weightage and depth of knowledge vary.
Here are some tips to help you prepare for CFA Exam level 1:
- Choose and pick the trusted study material
There are a number of resources providing the study material for all such internationally recognized courses. Students first must understand the syllabus and get clear about the weightage of each subject. There is no need to know everything about all subjects.
Smart study is the key to cracking any exam. Choose a coaching or study material that is reliable and updated. Stick to it and work hard. A bit of research and proper analysis of past year exams can assist aspiring students.
- Stop wasting time
As soon as you decide to take up this course, don’t wait for anything, just dive in. Get started with the preparation as early as possible. It will help you prepare free-mindedly and will give the students ample time to try new tricks and more questions. Starting early and sincerely can help you stand out.
- Develop a proper study plan and don’t become a bookworm.
Yes, it is important to sit for hours and devote quality time but this does not mean leaving everything. These exams are more about smart work. Get to know how many hours you are able to study and accordingly come up with a good study schedule. Try balancing things and don’t just get lost in your studies. Working hard is one thing but getting lost in books is another.
Try to spare time for other activities, groom your personality and relax. CFA level 1 will prepare you for further levels, so start well.
- Focus on all subjects, and don’t ignore any
All subjects in CFA require attention, no subject should be ignored. Study according to the weightage but never just skip the subject and leave it to study just a day or two before exams. Moreover, focus on learning concepts. Subjects like CFA-level 1 economics demand concept clarity.
- Know all the operations of the financial calculator
CFA requires a special mathematical calculator. All the levels and subjects require it. It is better to invest time learning all the operations of the calculator during the CFA exam level 1 prep course. And never forget to practice on the same calculator that you plan to carry in the exam as this will set your fingers and will allow you to do the calculation faster.
- A good coaching
This is not a must but can be of great help. No matter how self-reliant you are, guidance is always better. CFA is a globally recognized degree, and the pattern, mode, and way of the exam are a bit different than those of the college and school exams. So, good coaching not just saves a lot of time but also helps get clarity. You might get a good environment that can motivate you. Some subjects like CFA Level 1 Economics, accounting, etc are a bit technical and involve a good understanding. Good coaching can assist students to score well.
- Practise
As all of us know, practice makes a man perfect. So, try to practice as much as you can. And try to create an examination environment. Set the timer, and purchase an online mock series. After attempting the mocks, analyze them and understand your shortcomings. All this will help you overcome the fear of examination and will make you more confident.
Conclusion
Everything looks difficult before it’s done. Such globally recognized degrees are a great way to kick-start your career. Start with a positive mindset. Before getting into any professional degree, understand it and absorb the syllabus. Then start searching for the right mentors and study material. Don’t get confused or try to do everything.
Choose limited resources, and exhaust them. Regular mock tests can save you. CFA is all about analysis, calculations, and decision-making. Try relating the concepts and questions to real-world problems and it will all make sense to you.
Take short breaks, and naps, and keep rejuvenating yourself. The journey is long but not impossible. Work hard and see the magic.