CFA Level 1 Exam in December - What should I do?

Question

Ahh I am scheduled for my CFA Level 1 in December and I haven't studied at all! Now I am looking at the calendar and I am freaking out. I am starting the first chapter, which is ethics, do I have enough time to study? I have a full time job as well and the job is quite demanding!!! Any advice is appreciated. Should I go out and buy those study notes or reading the 6 books are going to be good enough?

Answer 1

All depends if you are with a finance background or not!!!

If you are then please go ahead as u have the terminology in your mind already and if NOT... then I don't believe its wise to go for this one.

And which 6 books are you referring here?

Answer 2

If you come from a finance background, you should probably be able to do it in December.  However, if you do not have the background... it's most likely not do-able given how busy you are.

If you decide to go for December, I do not recommend trying to read the 6 books -- as it's close to 3,000 pages (if I remember correctly).  You might want to consider the study notes through Schweser:

http://schweser.com/

If you want a gauge of where you currently stand, follow the link to CFA fundamentals.  Take the pre-CFA exam to see how you compare.  If you are on track or better -- you're in good shape.  If you are below the norm, you might want to really think about the commitment it will take for you to try for December.

The CFA material is not hard... rather just overwhelming in the volume that it is presented in.  If you score at least average on the pre-CFA exam & can commit at least 200 hrs consistently (not all cramming at the end) from now until December, then go for it!  You got nothing to lose (but your free time).  Anyway, you already paid for the exam... & you'll most likely need study notes whether you sit December or June.  On the plus side, one-time through the CFA exam wouldn't be so bad -- as you'd know what to expect the second time through.

Take a look at:

http://analystforum.com/

You can find useful discussions here as well.  However, don't spend more time on discussion boards then studying!  You'll find that there will always be a good amount of people worse off than you.