Hey everyone! I’m thinking about taking the CFA Level 1 exam this summer. My finance professor suggested it, and I’m wondering how tough it really is. I’ve heard it takes about 500 hours of study, but I’m hoping my background might help me prepare faster.
I’m doing pretty well in my finance classes (3.8 GPA) and have a good grasp on stuff like TVM, NPV, IRR, and CAPM. I’m also minoring in econ, so that part seems okay. I’ve done some practice tests, and they didn’t seem too crazy.
The thing is, I work two jobs, so time is tight. Can anyone who’s taken it tell me if there’s a lot of new material I’d need to learn? Or is it mostly applying what I already know? I’m not looking for shortcuts, just trying to figure out if it’s doable with my schedule.
Any advice from CFA candidates or charterholders would be awesome. Thanks!
As someone who recently passed the CFA Level 1, I can attest it’s a significant challenge. Your finance background will certainly help, but don’t underestimate the breadth and depth of the curriculum. The exam covers 10 topics, and while your coursework gives you a head start in some areas, others like Ethics, Financial Reporting and Analysis, and Portfolio Management might require substantial additional study.
With two jobs, time management will be crucial. I’d recommend starting early and creating a structured study plan. Focus on your weak areas and use practice questions to reinforce concepts. The 500-hour estimate isn’t far off, but efficiency is key. Consider joining a study group or using online resources to supplement your learning.
Remember, the exam tests not just knowledge but application. Be prepared for questions that require integrating concepts across multiple topics. It’s doable with your background, but it will require dedication and smart studying strategies.
I gotta say, kudos for even considering the CFA while juggling two jobs and school. That’s some serious ambition!
Your finance background definitely gives you a leg up, but don’t let it lull you into a false sense of security. The CFA Level 1 is a whole different beast. It’s like… imagine if your finance classes decided to have a wild party with economics, ethics, and a bunch of other subjects you might not have touched yet.
From what I’ve heard from friends who’ve taken it, the ethics portion can be a real mind-bender. It’s not just about knowing stuff, but applying it in tricky situations. And there’s always some curveballs in areas you might not expect.
Have you thought about maybe pushing it back a bit? With your packed schedule, giving yourself more time might be a smart move. You could start chipping away at the material now, get a feel for what you’re up against.
Oh, and pro tip: those practice tests? Keep hammering them. They’re gold for figuring out where you need to focus.
Curious - what’s your strategy for balancing all this? And what’s driving you to take the CFA now? Always interesting to hear what motivates people to tackle such a beast!
hey mate, the cfa level 1 is no walk in the park. ur finance background will help, but theres a ton of new stuff too. ethics is a big chunk and can be tricky. with 2 jobs, itll be tough to squeeze in study time. maybe try spacing it out over a longer period? good luck!
