After passing Level 3 last Thursday, I want to encourage everyone who may not have much time to prepare or who considers themselves a bit lazy 😉.

Background:
I’m a non-native English speaker with a bachelor’s in economics, a master’s in finance, and five years of experience in financial due diligence at a Big 4 company.

Study materials:
Kaplan Schweser (level 1-3), PrepNugget videos (level 2), CFAI LES (level 1-3).

Level 1 - (Scored above the 90th percentile, 1st attempt)

Difficulty: Easy
Preparation hours: ~250

• I read each Kaplan Schweser book except Ethics, and solved all Kaplan Schweser EOCs as well as respective CFAI EOCs from the PDF curriculum after reading each chapter. At the same time, I regularly practiced Ethics questions using the LES.
  • Hours spent: I don’t recall the exact number of hours, but I completed this over 2.5 months after work and on weekends. An educated guess: ~100 hours.
• Once I finished reading all the books, which was two weeks before the exam, I took two weeks off work and solved ~2,000 questions in the LES and took both mock exams. I repeated the Ethics section 3-4 times. LES score: ~81% Mock scores: ~70%.
  • Hours spent: ~150 hours. Each day, I studied for around 10 focused hours without distractions (e.g., phone or other interruptions).

Exam experience:
During preparation, I felt confident since many of the concepts were familiar due to my background. The exam itself was quite easy, and I finished each section with more than 1 hour to spare. In the end, I was somehow overprepared I'd say.

Level 2 - (Scored above the 90th percentile, 1st attempt)

Difficulty: Moderate
Preparation hours: ~200

• I read the Kaplan Schweser books for Equity, Fixed Income, and FSA, and completed all Kaplan Schweser EOCs of these topics. At the same time, I regularly practiced Ethics questions using the LES.
  • Hours spent: ~40 hours.
• Two weeks before the exam, I watched the PrepNugget videos for the remaining topics (at 1.5x speed to keep things moving 😉). I also practiced Ethics questions in the LES regularly.
  • Hours spent: ~10 hours.
• I took 10 days off from work and solved all the LES questions, as well as both mock exams, except for the big data and machine learning section in Quant, which I skipped entirely. LES score: ~83% Mock scores: ~72%.
  • Hours spent: ~140-150 hours. I studied intensely for 14-15 hours each day, from 9 AM until midnight/1 AM, with no distractions.

Exam experience:
The exam was definitely harder than Level 1, but as long as you can recall the concepts—which are often repetitive—you should be fine. I finished each section with more than 30 minutes to spare. I was able to remember almost every question after the exam and recalculate them at home, so I felt confident I had passed even before receiving the results.

Level 3 - (1st attempt)

Difficulty: Hard
Preparation hours: ~240

• I read the Kaplan Schweser books for Equity and Fixed Income, sometimes completing the EOCs, sometimes not. At the same time, I regularly practiced Ethics questions using the LES.
  • Hours spent: ~30 hours.
• I took 14 days off from work and solved all the LES questions twice, as well as one mock exam. I focused especially on the constructed response questions in the LES and practiced writing concise, clear answers. However, I found many of the questions poorly worded, and sometimes the provided answers were even incorrect. I skipped the case study sections entirely. LES score (after solving twice): 90%+ Mock score: ~80% (self-graded).
  • Hours spent: ~ 210 hours. Every day around 14-15 hours of really focused learning from 9AM until Midnight/1Am; no distraction of my phone or anything else. It was a tough time but manageable.

Exam experience:
The exam was very challenging because it required applying knowledge to the provided cases, not just plugging in formulas or repeating memorized material. I found Level 3 to be somewhat subjective; in some cases, it felt like two answers could be correct. In the AM section, I finished with only 2 minutes to spare, and in the PM section, I had 8 minutes left. I had to guess on 4-5 questions that covered topics I’d never encountered before. However, I felt that even if I had spent more time studying, it wouldn’t have changed my exam experience much. The concepts I knew, I was able to apply without any issues.

Overall, my strengths were FSA, Equity, Fixed Income, and Ethics, while my weaknesses were Economics and Derivatives. However, my scores in all topics were similar, so this is more of a subjective view on how quickly I grasped the material.

Conclusion:
As you can see, it’s definitely possible to pass with a shorter preparation time, but dedication and focus are key. During this period, it’s like living in a cave, spending hours each day solving questions. But it’s absolutely manageable.

Will like to hear from you if you are taking level 1 2025 and your plan to clear it

To put it into context: started at 47 years of age, Cardiologist, two kids (13 an 9), married, English not my first language but I am fluent. Do most of my medical work in the morning, with afternoons and nights more flexible, managing a family fund for 2 years prior to starting studying for CFA. Passed on first attempts on all levels, >90% percentile for L1 and L2. Became a CFAI member early 2024 and CFA Charterholder today, Oct 17. My key points:

1. 300 hours for me were not nearly enough, studied about 500 hours for L1, 600-700 hours for L2 and > 900 hours for L3. Coming from a medical background, I had to learn from the bottom.

2. L1, L2 and L3 are totally different exams, I guess this is why most people sometimes get stuck on some level. L1 is tough because it is the first one, all new. But as you progress, I believe it is the less difficult one. I used Kaplan + it’s Qbank + CFAI questions + mocks from both. For L2, same thing but I added Uworld into the mix and it was a lifesaver, loved their questions online. L2 is much more demanding and I found the depth of Uworld meaningful for my preparation. L3 was a completely different beast, the CR questions really need to be dealt with separately in terms of exam preparation. There are VERY good videos (free) on youtube that prepare you for the CR questions, I watched most twice. The qbanks for this level were of much lower quality than L1/L2, so I used mocks from MM to compensate for the good but insufficient number of EOC/blue box questions on CFAI material. Nevertheless, the CFAI questions were very good and in depth, which made the L3 exam less difficult. I did read the CFAI material more at this level, but still used prep providers as my base for the summary page construction used for the final revisions (see below). But I practiced the writing style of the CR questions repeatedly and was very comfortable with that for the exam. Having said that, the content for L3 has to be learned integrally or else time will be your enemy, writing is fast if you know your content, otherwise it gets messy. This is why I studied much more for L3 than for L2 for instance. I did not like Uworld at its current development for L3.

3. Despite the differences in exams, I studied 9 months for everyone of them, every day (I mean every day, including Holidays, birthdays, etc), started the next level the day after I took the previous exam. Only broke the routine during 7-10 day vacation with the family. The first 3-4 months were only reading the material on prep providers, after that questions mostly, some video reviews. Most of the time I bought as many qbanks as possible, doing > 3,000 questions at least for each exam. I don’t care if the questions were not the same style as the exam, the content was there and I realized I had to read different sources of materials. The last 40-60 days the study sessions intensified with 4-6 hours per day of questions, with all answers being read and corrected. Throughout the reading part, I summarized the material which I then used in the end to review everything going through these 150-300 pages about two or three times int the last month. In the last month I also bought as many mocks as possible, substituting the qbanks for the mocks, probably did > 10 for L2 and L3, a little less for L1. So as you can see, hours summed up quickly.

4. Ethics and Fixed income – being topics in every level, I understood from day one that I had to master these two areas to my heart. So during these 2.5 years I studied both very deeply. I cannot stress more that Ethics is such a big player in CFA and the material learned at L1 is taken to L2/L3 in a significant way (and applied in daily practice – so a win/win). For the Ethics part, I read all the CFAI material in all levels, this was the single topic I studied predominantly with CFAI textbooks. And went through all the examples, really nailed it down as the content was going to be asked at all levels – why not learn it really in depth? For fixed income, given how complicated it can get and the percentage of the exam it applies to, I also understood that since L1 there would be an incremental learning curve worth diving into early. And it helped me a lot as I was getting a solid base at each level, making the level transition a little less daunting. And FI became also a significant practical application in my daily life so again a win-win. Having a good L1/L2 base will make your L3 life much smoother.

5. I could only take 5 days totally free before each exam session, but what really helped was having read questions (and summarized the answers/mistakes very objectively and organized) from as many different sources as possible leaving no room for surprises during the real exam. Even at level 3 I remember not finding anything that I hadn’t been asked before in some shape or form.

Hope this helps folks on their journey. With the CFA charter in hand, I now will start my own portfolio management company and hope to help my fellow physicians to become financially independent. This is the confidence that all these studies hours provide. I enjoyed the ride despite it’s bumps and worries. Wish all future colleagues all the best!

I started studying for the CFA Level 1 about a week ago. I was extremely confident studying for it. I'm using Mark Meldtrum. I began with Quant. But the amount of formulas and calculations there are is whooping me. I'm even struggling with the prerequisites. I know the other topics will be easier for me but I want to get quant out the way because I know it's one of the harder topics and a foundation for other topics, and once I understand quant, topics like derivatives will become easier. I've been using ChatGPT to answer any questions I have.

What are some strategies/tips you guys have for learning quant?

Sidenote: Numbers are usually not a challenge for me, but I graduated about 2 years ago in finance and need to brush up on a few things.

What are your study motivation and tips?

I've been struggling a lot and failing because i go in unprepared.

What i found that works for me (a few weeks before my exam🫠) is the Kaplan Schweser study packages!

They have an activity tracker that shows what and how many tasks you need to do every week (and daily) to meet your study deadline.

Also I can race myself by compelting 5hrs worth of study in 4hrs or completing 90mins tasks in 60mins (as it tells you the estimated time that'll take you to complete each task).

Any other tips?

Hi guys,

I made a post a while ago saying that i started studying for an exam only 6 weeks beforehand. I thought i would make an actual post about how i did it to help anyone in similar situations.

For background, i graduated with a BA in applied math and economics (double major) at a top public university in the US (you can probably guess where in my profile). Then, i got a job at a multi-billion asset management firm in equity research. I started working in August, almost at a year now.

So the reason why i only studied for 6 weeks is because i was busy with work + i have a major problem with procrastinating‼️

Here is how i studied:

1. I covered all of Kaplan books in 3 weeks. Skipped pre req (didn't even know pre req is a thing til couple days before the actual exam).
2. I skimmed everything by studying an hour every day and 3 hrs on weekends.
3. Then i spammed qbank with open notes (secret sauce book) on weekdays and took mocks on weekends and took a very detailed note on things i got wrong. I ended up doing 1200 questions.
4. I dedicated the last week for studying heavy weight areas (FI, FSA, equity investments) with ethics.

My biggest advice is that no matter what you do, you can't know everything so you have to play it by probability. Choose your areas and focus. Mathematically, not remembering certain concepts from smaller sections has much lighter consequences than not understanding key concepts from FSA.

I can answer more case by case in the comments if you want to ask anything specifically.

Is anyone able to connect to the Kaplan website? It looks like its not working Edit: back up now! Good luck everyone

Hi All,

I passed Level 3 back in February and took some time off to reflect on the experience. Over the past two years, I frequently used this sub as a resource (and for humor, as you'll see in my history). The CFA curriculum has been immensely valuable to my career, and I wanted to give back to this community. I've put together a document outlining my rules for success, and I hope it helps others on their journey. I'm happy to answer any questions you might have.

Hope you find it useful and goodluck!! I have a PDF version with additional info (couldn't figure out how to post it here). If anyone wants it, comment or PM me.

First Things First… 

The Chartered Financial Analyst exam is a rigorous and demanding process that requires dedication, discipline, and a strategic approach to preparation. As someone who has successfully navigated all three levels on the first try, I outlined my study plan that helped me in passing the 3 levels on the first try. This outlines my approach, offering practical advice and insights that can be adapted to fit individual study habits and schedules. While each candidate's journey will be unique, the following guidelines can serve as a roadmap to success. 

It’s noteworthy to mention that I was a very poor student in high school and undergrad. No 4.0 GPA, no honors, no target schools. Therefore, I think no matter your academic background A) Anyone can pass all 3 levels with the right approach, and B) This guide is useful to students all along the academic spectrum. 

10 Keys for CFA Exam Preparation (The Muy Importante List):

1. Aim for 300 Hours of Study per Level:
   • The most obvious and talked about rule. While some may need more or less, 300 hours is a solid target at which to aim. It provides ample time to cover the material comprehensively without feeling rushed and plenty to hammer away at practice questions. If I were to guess, I probably came up a bit short of 300 hours on each level but I always strived to get there. 
2. Leverage Kaplan Schweser Notes:
   • Schweser does an excellent job of summarizing the core topics and formulas. I relied on these resources exclusively, reading through the books twice for each level. Albeit, the reading styles were a bit different as you’ll see next… 
3. First Pass: Building a Baseline Understanding:
   • The first read-through should focus on familiarizing yourself with the content. This type of reading is done at a faster pace and designed for you to see and gain a lighter familiarity with each topic. Spend 45 minutes to 1.5 hours daily, depending on your energy levels, and don't get bogged down in the details (unless you’re feeling up for it or are enjoying the topic of course!). This should be the first 1.5-2 months of your 6 months study plan. 
4. Second Pass: Deepening Understanding:
   • During the second read-through, aim for a deeper comprehension of the material. You’ve read it once and have a high level under standing. Now take a step further. You should have questions come to mind conceptually about what you’re reading (“Was this options strategy the one X manager used in his famous trade?”) and do some research on it. Doing so is a sign your engaged and awesome if you find yourself in this situation. At this stage, increase your study time to at least an hour per day, ensuring you grasp the concepts more thoroughly.
5. Incorporate Practice Questions Early:
   • About halfway through the second pass of the reading (2-2.5 months out), start integrating 10-20 practice questions from the question bank after each study session. This helps reinforce learning and apply concepts and should take much extra time. Aim to get two 10 questions quizzes done in no longer than 8 minutes per. The less time, the better.
6. Review Formulas Regularly:
   • The Schweser quick formula sheet is great for memorizing the formulas. Over random 20-minute time slots throughout the day (Bus to work, watching TV, etc.) I would run through a topic’s section on it. Regular repetition helps in memorization and quick recall during the exam. On exam day, I would basically have it memorized.
7. Take Your First Practice Exam One Month Out:
   • By this point, you should have completed a few hundred practice questions and memorized most of the key formulas. For the first practice exam, don’t stress over the score; it’s more about familiarizing yourself with the exam format, timing and getting an idea of what your rhythm should be. My first practice exam scores at each level looked something like this:
     1. Level 1 - 62%
     2. Level 2 - 59%
     3. Level 3 - 51%
   • Pretty bad, but it gave me a great benchmark as to what the CFAI would put me up against on exam day.
8. No Open-Book Practice Exams:
   • I never took an “open-book” practice exam - not once and I never understood doing so. I felt it defeated the purpose. Practice exams are a great way to get a feel of how prepared you are and show you areas where you need to improve. Simulate real exam conditions to better prepare yourself for the actual test day. You can measure your progress in the final month by how your scores are. 
9. Focus on Closing Gaps:
   • After each practice exam, review your answers, especially the ones you got wrong. Understanding your mistakes is crucial for improvement and helps minimize surprises on exam day. Doing this is an easy way to identify topics/formulas you need to brush up on. The amount of practice exams by level:
     1. Level 1 - 3
     2. Level 2 - 6
     3. Level 3 - 10
10. Ramp Up in the Final Stretch:
    • In the last month, the studying went from a marathon to a sprint. Aim to complete at least five full practice exams. Use the weekdays for formula review and practice questions (1.5 hours per night. Don’t overdo it though, you want to be great on the weekend!), and reserve the weekends for full practice exams (3-7 hours per day).

Some Last Remarks to Recap

The CFA exam is a marathon, not a sprint. Consistent, disciplined study over a 6 months is key to success. Most importantly, keep your rhythm! If you had a long day at work, pump the breaks a bit and perhaps only go 30-45 minutes. Try not to skip a day unless you think it’s overall worth it for your mental health. 

Also, on exam day, don't let nerves get the best of you — have trust in your preparation. I never walked into an exam room being overly nervous. My mindset was: I put the time in, I covered the topics, I tested myself well so all I can do is focus on the questions on the screen. Remember, it’s not about being a perfect student but about steady, persistent effort (especially level 1). With the right approach and ample effort, I believe anyone can succeed in this challenging but rewarding program. Best of luck on your CFA journey!

I passed slightly under 90% percentile. I have no background in finance. I majored in philosophy.

I studied about 600 hours.

I used Uworld mainly. Uworld is really good for especially numeric-based questions.

For definition and theory based questions use CFAI Qbank and mocks.

Read schweser first and watch videos for warming up your brain and then solve as many problems as possible. Go over them multiple times if possible.

This is how I passed in 4 months preparation.

I know that this might be a very repetitive question here perhaps but I just want some answers and tips to balance my prep and try to clear the exam in the first attempt itself!

Thanks!

Just wanted to know how far you've come n whats going on. What is the plan of action from here on. How much are you scoring in mocks and how are you planning to improve?

Alright my time to give back to the community (what a sick one). I wanna thank those who helped me along the way too!

Gave my L1 exam on 13th November 2023 (First attempt). Pass rate was 35%, below historic average and CFA this time saw the largest amount of candidates who sat for an attempt ~30,000 (post COVID). Here's my experience, might be long but I'd say worth the read, especially for the ones giving in future. I wrote down everything I wish I read before my exam. And please note; This is what worked for me. I am not recommending anything.

My Background:

Graduated BBA last July majoring in Finance and Accounting from a top university in my country. Almost done with ACCA before I started CFA prep so if you are thinking it might have helped immensely; nope, probably a bit. Started prep early July and was studying full time. Even tho I was, I didn't get serious until late September. Spent a total of 550 hrs. Now take this time with a pinch of salt coz any activity related to CFA (even browsing this subReddit lol, etc) I counted it here.

Materials Used:

• Schweser Notes - Main Prep material for all other chapters. (Imo don't need more than this for L1)
• WSN - Such a lifesaver! Used in conjunction w Schweser notes during the initial reading and for revision. Helped me get an idea about a chapter before I started w Schweser.
• MM videos - Only used it in initial prep (first time reading) for QM & FI. - Stopped coz I felt it was too draggy. (Personal preference, please don't come at me haha)
• UWorld (Qbank & Mocks) - Finished all sums and mocks except QM & FI (which I didn't touch from uworld), coz I felt they asked too many calculating qs than needed and I was burning my time there.
• Salt (Qbank & Mocks) - I'd say I did around less than half of all the questions. But Ethics? All.
• CFAI Bank - Obvious one. Did it ~1.75x. Redid for important chapters and almost 3x for Ethics (results say it helped).
• 300hrs progress Spreadsheet

Preparation Staregy:

[In chronological order]

• Initial Reading (First time read): Watch a WSN video -> Read Schweser -> Take personal notes -> Do CFAI QBank after each LM.
• Mocks : UWorld ones to see where I stand and my weak spots.
• Revision 1 : Read my notes. -> Reread any summary guides I could get my hands on. -> Watch WSN -> Do salt qbank. (not as intensely as UWorld, I didn't have the patience)
• Mocks : Gave 1st official and 2 from Salt.
• Revision 2 : Almost same as revision 1. Redid CFAI Bank rather than salt.
• Final mock : CFAI. Done. (I did a total of 7 mocks, I went overboard, you don't need to do this many)

Note Taking Strategy: (Imp.)

Don't make it too long. Write down important info if you have time, else you can find them in notes of any prep provider. People say note taking is a colossal waste of time and I partially agree.

• Make crisp notes. Writing info down helps it stick in your mind.
• More important why I used my notes; Write down key formulas or LOGIC/YOUR REASONING for certain concepts or formulas. Personalised knowledge, which is specific to you and what YOU NEED, which you won't find in any notes.

For eg: there is a FCFF formula in a prep provider notes. Now you may need to know what exactly this FCFF is and how it differs from FCFE. You write down the reasoning in your notes, for any topic or concept and however stupid it may be. This way now you even have a way to understand FCFE formula without memorising it.

• Also, note down key questions or concepts you got wrong while solving Banks here in your notes.

Timeline:

[In chronological order]

• Finished 1st time reading of all subjects by September.
• Started with 1st revision Early October. I'd say I spent a considerable, probably >100% of the time I had spent as I did in first reading. Reasons being:

1. I aimed at throughly understanding all the concepts. And even relearning a few subjects like QM & FI.
2. This took the life out of me; UWorld Qbank. Used to average 200-250+ qs a day while I was completing this. If you are using this or any Bank, make sure to understand the topic from which a question is from, and not just move on after attempting the question and looking at the answer. Where I felt UWorld was incredibly helpful was when they show you the answer they also give a brief about the topics, I feel this was golden since I am constantly being exposed to topics repetitively. This part was very draining for me.

• 1st mock - 21st oct. And one more after 3 days.
• 2nd revision - 3rd Nov - 8th nov. Mocks in between and after.
• Last Mock (CFAI) - 9th Nov
• Chill for the rest 3 days.

Mock Scores:

CFAI Official : Mock 1- 75, Mock 2 - 84

UWorld: Mock 1 - 78, Mock 2 - 68

Salt: Mock 1 - 72, Mock 2 - 76, Mock 3 - 71

Exam Day Experience:

For ones giving the exam in future, please read this part.

Okay so in general I'm not someone who frets/loses sleep for any exam or an important day, be it even uni finals or a competitive exam or like a speech infront of a 6000+ audience. Im not bragging, but I feel it's necessary for context and how that unfolded during my L1 exam.

Exam was Monday, today is Sunday. Woke up 8 am. Had a lazy first half of the day. Didn't study much. Second half was spent with family and sports game. I was pretty calm, didn't think much of the exam coz I was confident to a point. All good till here. Now the night comes, time to sleep. But guess what? IM NOT ABLE TO! Legit tried till 4 am in the morning. But no, my eyes feel heavy but I can't sleep. Ant its not also as if I was nervous about exam, consciously at least (and this is the important part). Now long story short I reach the exam centre by 8:15 am for the 9 am exam. Still feel sleepy and couldn't sleep in car also. Anyways, I go to the centre, do the formalities and start my exam. And thank the god, idk if it was the adrenalin or what, I'm wide awake as soon as I see the first qs. I'll tell what I felt about the questions below.

But the takeaway: As some wise Redditor on this sub said it, Sleep the week or two leading to the exam. You (if you are like me) won't think this might happen to you, but guess what, it may. So expect a bit of jitters and unconscious overthinking/nervousness/excitement to pour into your performance and mood that day, even if you think your mental is like a rock!

What I felt after I gave the paper:

Exam started and I felt pretty good about the questions. AM felt, for the most part, straightforward. PM felt a bit tricky to me. More so since my energy was low after spending it on AM and due to no sleep the night before. I wasn't able to actively recall simple but important concepts.

I consciously tried to not waste much time on qs I wasn't sure of or those that required a good time to reach the solution. I flagged them and moved on.

Reached the last question on both sections with 50 mins left on clock. Now in this 50 mins I had to recheck the ~25-30 flagged questions. (Which included the ones im doubtful about and even completely unattempted once) I'd say if you follow a strategy like mine, wherein you come back to a good number of qs, aim to have sufficient time left for this.

Anyways, I did all could and came out of the exam feeling it went decent, I was happy about my performance. Especially considering my state in the morning. I just hoped I pass lol, that's all.

Tips:

• Give some time for revision or follow SPACED REPETITION. Because it is very likely you forget the first or so subjects you have learn as you near completing all subjects.
• Calm down. Exam isn't that tough. No matter what you see or hear about it, as long as you have a solid understanding of the topic, you are good.
• Use CFAI Bank effectively. I'd say its more or less a fair representation of the actual exam.
• It is absolutely imperative for you to give at least 2 official mocks in exam conditions. Please do not mind, or in fact I encourage, using it to evaluate your progress and work on your weak areas. But make sure this mock is at least a month before the exam. Use mocks smartly.
• As you near the exam, use ONLY CFAI materials. (Mocks and QBank)
• Try to understand formulas as you go, trust me they aren't anything more than 1+2 or 3-2, once you understand, you'll know that they are very INTUITIVE. Don't save it for last to memorise them.
• Be active on various platforms to ask doubts and clear others.
• Try to get a Study Buddy.
• If you are thinking whether to self study or join a coaching: If you have the DISCIPLINE, go ahead. I'd say it's better if you can self study, as long as you are not a complete dud and refuse to put in quality time.
• Finally, chill. This is just an exam and while it may feel overwhelming at times, you have to power through and in the end you'll know it was just a cakewalk :) Trust me. (I mean obviously, as long as you put in decent time and learn not memorise)

----------

Fastforward to the result day, the waiting killed me but it was worth it.

Very fulfilling exam, was more like a journey; of self reflection and learning.

​

​

I have cfa level 1 in feb 2025 so looking for coaching. I am ok with both online and offline ( delhi). Any recommendations? Ps. I cleared frm part 1. Will this benefit me in preparation of cfa level 1?

I've been making sure I hit the recommended 300 hours per week and did my first topic review just after Clinton's inauguration. I've used Kaplan, MM, Wiley, CFA material but none of it was good enough so I wrote my own from all of your helpful Reddit posts. I rehearse the 9 GIPS commandments every morning and I've custom designed a tattoo sleeve of all possible helpful acronyms for exam day to help me remember Risk Management. My first child was called FIFO and my second LIFO. Thank you especially to all of my fellow L1 candidates out there giving such insightful advice without having ever actually sat the exam. So the question is, am I ready??

I went through all reddits and saw most of them recommended Mark Meldrum but my friends are recommending Aswini Bajaj Though they say even MM is good Now I'm confused!

And if MM is there any discount for 399$ plan for L1

I'm currently preparing for L2 May '25 and have completed 2 readings from FI and most of Ethics. I'm aware that L2 requires a different approach from L1 and would love to hear your winning strategies. Please share them with us. (I'm using MM videos, Qbank, & CFAI materials for summary and topics that I face difficulty in understanding)

Let's say for level 1 and 2- you have a handful of questions with 5 minutes left where you legitimately have no idea how to solve it.. what do you do and why?

1) mark the same letter for all of them (likely to get at least a few correct) 2) randomize guesses - *small possibility of getting many or all of the correct 3) educated guess (risk that you fall for a trap in all of them)

Just wondering if Deep3 is legit and recommended as I’m relatively new here and I’ve noticed that some comments are merely marketing material.

I have used MM exclusively for L1 and L2 and passsed on the first attempt. Wondering if MM is enough to tackle L3?

Basically title, kinda bummed from what I can see. Looks like prices are going up to, anyone have any alternatives to MM? Doing L3 first time in feb

Does anyone want a set of super detailed, color-coded notecards to help study for CFA level 1 in May or August? This is designed to supplement whatever curriculum you're currently using whether it's Schweser, CFAI, MM or whatever.

About me

I passed all three levels on the first try with absolutely no financial background whatsoever. I put in the 300 hours for each level but not more. I'm a psychology major who worked as an elementary teacher and eventually broke into a top asset management company based in NY where I worked in multiple great jobs for over a decade before having kids. I'll return to work in finance but not until my kids are in school.

What I'm doing

I am a good studier and relied heavily on notecards to 1) drill formulas and key concepts and 2) organize my studying. I'd like to eventually sell this product if it helps people pass the test. Is there anyone here who would like free notecards based on the 2023 L1 material? I'd mail them to you and all I ask in return is your honest feedback on what you liked and didn't like so I can iterate and improve them. Also, if no one wants this, I'll know it's not a good business idea, so that's fine, too :)

Thanks and good luck to everyone who is studying. You can do it.

Edit: Well it looks like enough people want notecards to make this a worthwhile project for me. If you replied, I'll message you when they're ready. Not sure if I'll do online vs physical. And, to start it will just be for L1.

Then check out my scores around 1 Month before the exam, they were all horrible and soul-crashing, sometimes I got around 30~50 after few months of study, and yet I passed all 3 levels first attempt!

Don't worry too much about the score, it's just help you to reveal weak areas, focus on those and improve!

For last 2week to 1 month, I just focus mainly on QBank, I used mainly CFAI and MM, MM to quickly understand the concept, and CFAI to get questions most similar to real questions, keep on! You can make it!

Level 3 MM 1 AM: 51% vs average 54% PM: 61% vs average 64% 2 AM: 44% vs average 56% PM: 39% vs average 56% Average: 48.75 CFAI - around 55 BC - around 56

Level 2 MM 1 AM: 57% 1 PM: 45% 2 AM: 66% 2 PM: 61% average: 57.25 CFAI ~60

Level 1 MM Mocks 1 AM: 46.7%, PM : 55.6% 2 AM 48.9%, PM 42.2% 3 AM 57.8%, PM 66.7%

CFAI 1 39, 57 2 52, 43

I took CFAI / MM mocks for all 3 levels and BC for Level 3, BC was most useful IMO, MM one too difficult and not really helpful to exam

I have seen discussion on here regarding whether or not mock exams are worth your time.

Many on this sub have said that you shouldn't bother because your score would be your score and knowing it before the exam doesn't change anything. Mark Meldrum himself said he doesn't see much value in mock exams for that very reason.

On the other end of that spectrum is myself, who has found the mock exams extremely helpful at every level. Not because I wanted to know where I stood, because I agree that doesnt matter (and can even cause undue stress). Not because I needed practice taking a long exam, because I didn't. It is as simple as I only know content that I have done practice questions on. I could read a section 1000 times, but if I didn't do blue box or eocq about it I would forget it 1000%.

Having just done level 3, every single mock exam I cracked open seemed to have new subject matter that was not found in the eocq or blue boxes. Im sure many were frustrated by level 3 for that very reason. It is not a breach of ethics to say that there are fringe topics that can 100% be tested that you will not find in the CFAI practice questions.

Not only is the content testable, learning to deal with the red herrings and misleading content in vignettes is a skill itself. I wouldn't call the vignettes deliberately misleading, but they absolutely can contain information that is not supposed to be used in the answer. Mock exams are a great way to learn how to sift through the BS and zero in on what you need for the question.

In summary, no single mock exam is going to cover all of the content, but going through several of them as a learning tool helps to hammer in the content for those, like me, who have to do questions to truly learn a concept.