If you’re determined to pursue a career in finance, you must already know of the CFA course. This course educates a person on investment analysis, asset management, portfolio management as well as ethical codes.
The CFA charter holder is widely recognized among global financial investors and each expert knows about the hurdles a candidate has to overcome for this certification. One such hurdle faced by a multitude of candidates is the initial CFA® Program Exam.
Various candidates who go to study CFA in Dubai often fail to qualify at the first attempt. In fact, in 2016 itself the CFA pass rate was just 43%. This is why it is vital to know the right tips to study for the first level CFA® Program Exam.
Thankfully, this blog will elucidate the tips to pass the first level CFA exam with flying colors –
- Plan and Early Study Routine
Studying and preparing for the CFA program beforehand is the best option if you wish to crack the intimidating first level. So, try and gather all required CFA Prep material beforehand and follow this recommended procedure of “Prepare > Practice > Perform”.
In the preparation stage, you need to thoroughly listen and gather information during classes. After this in the practice stage, implement all that you have learned in practical, for example, solve questions and theories. Lastly, in the performing stage, work to access and analyze your results.
On this note, here is the amount of time you need to spend on the “Prepare > Practice > Perform” method –
- Prepare yourself within 30-40% of your time.
- 40-50% time spend it on practicing.
- 20% time work on performance analysis.
- Focus on Learning Outcomes & Exam Weights
The CFA exam curriculum is updated each year and hence, before studying for the exam you must have a complete know-how on changed parameters. Now, even the exam weighs may vary depending on topics so ensure to have a clear knowledge on these too.
The (LOS) or Learning Outcome Statements are another thing you should follow or entail if you wish to successfully pass the initial exam. The LOS devised by the Candidate Body of Knowledge, consisting of CFA Prep material like notes and scheduled study sessions to help candidates succeed in the exams.
It is best to follow the LOS to understand the type of questions that are most likely to come in the exam.
- Real-Life Concept Application
Just mugging up bookish knowledge isn’t enough when it comes to passing the CFA program exam. To find out where you stand, it is best to practice what you studied in reality. So, look for opportunities to test yourself. For example, if you’re studying or working try applying your knowledge to solve everyday situations.
When you find viable answers while practicing, you’ll know that you’ve mastered the subject with ease.
On this footnote, now that you’re aware of the following tips to pass the first exam, ensure to Study CFA in Dubai from a reputed institution. With good guidance and your hard work, you’ll soon become a CFA charter holder with ease. Good luck!