中国CFA考试网 2017-05-31 09:12
1.Engage in revision sessions that are marathons,not sprints，If you want to pass the CFA Level I,you’re advised by the CFA Institute to spend six months preparing and to do between 300 and 400 hours ofrevision per exam during that time.
“Success is strongly correlated with the date you start revising,”says Nathalie Columelli,aformer Deutsche Bank trader who now coaches people in the CFA exam.Inother words,the earlier you start revising,the greater your chances ofsuccess.
Now is therefore not the time to be crammingfor the June exam.Now’s the time to be starting to revise for the examin December!
“This is the best moment to start revising[for December],”says Patricia Donnelly,head of consultant services atBNP Paribas Investment Partners and former president of the CFA SocietyFrance.“It’s generally calm at work and on the markets.If you startnow,you can get ahead before things heat up after the summer.”
Six months is a long time.And during that time it’s easy to go astray and to spend less time revising than you’d intended.
Toprevent yourself neglecting revision times,Columelli advises usingOutlook to block out 12 hours of revision time every week over the nextsix months.If things get in the way,make sure you transpose thoseblocked out hours to other times.
president of CFA Society France,advises that students need to build twoor three completely free weeks into their revision schedules.That way,you can absorb any professional or personal issues which might come up.
If nothing comes up,you can simply have a break.Or you can use thatextra time to go back over the most difficult parts of the syllabus.
3.Find a method of revising that works for you“The best thing is to use a revision technique that you’ve employed forprevious exams and that’s worked for you,”says Columelli.“Some peoplework best in the mornings,others at night.Some like to go to thelibrary,others will work in their office or at home-each to theirown!”
Corporate finance student,Bastien Doutreleau iscurrently doing an internship in Spain and preparing to take the CFAlevel II exam in December.When he studied for Level I,Doutreleau saidhe watched CFA videos and is regularly exchanged information withprofessionals who’d already passed the exam.Talking to those peoplewith successful careers helped remind him why he decided to take theexams in the first place.On the other hand,Doutreleau said that heavoided CFA exam forums,which can be stressful places when you’restudying.
4.Make the most of the materials on offer The CFA itself offers materials that will help you prepare for the exam.
“With your login and password you can access a heap of information andadvice from the CFA site itself,says Columelli.“Candidates too oftenneglect this,”she adds.
Donnelly suggests that students nearing the end of their revision look at the list of‘Learning OutcomeStatements(LOS)’provided by the CFA Institute.They’re especiallygood for running through during a commute,or on the morning of theexam,she suggests.
5.Practice,practice and practice
“It’sessential that you’re able to respond to the questions without stoppingand that understand each one quickly and in the sort of conditionsyou’ll encounter in the exams,”says Bastien,who regularly put himselfthrough timed mock exams prior to level I.“This is the best way offinding out how good you are and what you still need to work on.It willalso give you confidence before the big day,”he said.
6.Don’t leave anything out
Each of the ten units is important for CFA level I,says Maupas.You can’t leave anything out.
Thefirst time he took CFA Level I,Bastien says he didn’t devote enoughtime to the economics material,on the grounds that it involved 300 pageof coursework for just 10%of the marks in the exam(while other unitswere 100 pages of coursework for 15%of the exam).This was a big error,he admits.
It’s particularly important that you know thesmall subjects without much coursework extremely well.This isespecially true for the ethical and professional standards section,saysDonnelli.“A wrong note here can compromise your success in the wholeexam if you’re on the border of passing and failing,”she says.
7.Have a strategy
The passing score in the CFA exam is a matter of utmost secrecy,but is thought to be around 70%.
If you want to pass,you’ll therefore need to be good at everything(see point six).
Bastien advises against studying one particular area at a time.Instead,hesuggests proceeding in the style of a‘crab’and covering severaldisciplines at once during revision sessions whilst alternatingtheoretical with quantitative disciplines.
Columelli advocates paying particular attention to details on subjects you’retraditionally good at in order to avoid careless mistakes.Work harderon the subjects where you achieve irregular results during mock exams,she adds.
8.Look after yourself as the exam approaches“As the exam draws closer,you need to treat yourself a bit like a baby,”says Columelli.“Eat regularly,go outside,take in some fresh air atleast twice a day.”
If you’re in a full time job,Donnelli advises taking some half days.They’ll help you relax and giveyou more time for revision.Some employers will even offer time off forexam preparation,she says.
9.Don’t disqualify yourself on the big day by doing something stupidThe
CFA website has important information on the materials you can takeinto the exam-read it carefully.Make sure the information on yourpassport conforms to what you’ve written on the CFA entry forms.
Recharge your calculator batteries.Give yourself enough travel time-remember that quite a few people will be converging on the exam hall.
10.Retain your common sense
As with all exams,you should:
-Start with the easy questions.
-Always give an answer.You have nothing to lose.
-Make an intelligent guess if you don’t know the answer.
-Don’t panic.At worse this is just preparation for your next attempt!