Prepare wisely for the Level I CFA exam!

 To pass the test, you must obtain at least the minimum passing score (MPS) established by the CFA Institute Board of Governors following each exam. The all-time average pass rate for CFA Level I is barely 42%, and pass rates in 2021 have been significantly lower. People studying for the CFA test are brilliant, motivated, and just as eager to succeed as you are. That means having a study strategy and sticking to it is critical.

The preparation portion of your Level I CFA institute test preparation should begin six to nine months before the exam date and end three months before the exam day. Many successful CFA charter holders attribute their CFA test performance to their study habits. Not only must you study the content, but you must also be able to apply what you've learned to test circumstances. It takes time to reach this level of comprehension and actual application. As a result, it is critical that you establish and keep to a study regimen as soon as possible.

During your six to nine months of preparation for the Level I CFA Exam, you should attend 80-100 study sessions. Because most CFA candidates like to study for a few hours practically every day of the week, we arrived at this range. You can take fewer study sessions if you choose to take more regular days off from your preparation. Keep in mind, however, that if you only do 60 study sessions, you'll need to study for an average of 5 hours every session to fulfil the minimal recommendation of 300 total hours. The more frequently you sit down for a study session, the less challenging each session becomes.

The Chartered Financial Analyst (CFA) examinations need a strong commitment to following an organised study plan at all three levels. According to the CFA Institute, the average yearly pass percentage for the CFA course level I test over the previous ten years has been 42%. 1 This figure indicates that only the most determined applicants are likely to pass the exam, therefore be prepared to make the necessary sacrifices and exert the necessary effort.

The recommended plan is to set aside at least four months (about 17 weeks) to complete all of the reading assignments. End-of-chapter questions, on the other hand, should not be overlooked. They will aid in the discovery of flaws. Allow four weeks before the exam date to study questions and practise sessions, as well as at least one day at home to replicate exam settings. Your time is your most valuable investment in the CFA, so use it wisely. Successful applicants report spending an average of 323 hours studying for the CFA test, according to the CFA Institute.