Please comment on your Level I experience. experience, following, especially, 250, long

spartan1

Hello everyone

I was hoping to get some useful insight from all of you who just took the exam this weekend. I have been lurking these boards for a while now and have decided to take the plunge for Level I in June. Since you folks just took the exam I would like you all to comment on your experience studying for level I and especially on the following:

1. The institute recommends 250 hours of study. Is that about right? How long did you guys study. I know productivity varies from one person to the next, but it would still help to know how much you put it approximately.

2. How much did you use the curriculum. I feel it's a valuable resource for learning, but does one NEED to use it?

3. Did you use a prep provider or take any prep courses? Which one is the best from Schweser, Stalla and Elan? Can people who used any of these companies' materials please comment on which one is the best for study guides, lectures, question banks, practice exams and online courses?

4. Any other advice you would give to a first time candidate...

Thank you in advance for taking the time to share your thoughts.

May you all pass when the result comes out in January.

Wasteoftime

I think the feeling that i had when i got 77% in CFAI mock was much more sweeter than the feeling I had yesterday. I'm still high on energy levels. I wish CFAI add one extra column for score greater than 80 this time. This would be a real treat for me. What do you guys think?



Edited 1 time(s). Last edit at Monday, December 6, 2010 at 05:56AM by SpyAli.

Jolyn

I scored over 80% on all 4 mocks but I honestly didn't feel 80% prepared. The actual exam was a breeze compared to the mocks, however, so even with a buffer I'd be shocked to find out I scored anything less than 75%.

trogulj

If you are getting anything above 70% consistently, I think you should be fine. I, myself had a range between 80 and 86% during my 3 elan mocks and thought that I scored even higher on the real CFA this past Saturday. So much of it depends on the types of questions you get, a lot of people spend a lot of time memorizing small details such as qualitative characteristics of financial statements. These things, may or may not be asked..overall though. If you are scoring 75-80 range, that means you are 36 and 48 questions over the 65% barrier. That my friend is a nice buffer to have.

draz

To Omar

What scores were u all gettin on ELAN Mock Exams, they were saying like above 65%

I was getting 75%-78% range on an average
once in 80% range also, but not sure whether this is the standard, can u throw some light on this.

Vikrant

orang3eph

1. I spent around 300 hours in all and it was more than enough for me. I do have a fairly strong background in accounting so it was a little easier for me to get through that stuff.

2. I only used the curriculum for summaries and EOC questions.

3. I used Elan's Ultimate Package and I though they were awesome. If you're going down the prep provider route, definitely try them out.

4. MOST IMP: this website is awesome! Check in regularly with your peers here. It'll really help. Also, thank you to joeydvivre, beatthecfa and cpk. Your guidance was invaluable.

Wrote:
-------------------------------------------------------
> Hello everyone
>
> I was hoping to get some useful insight from all
> of you who just took the exam this weekend. I have
> been lurking these boards for a while now and have
> decided to take the plunge for Level I in June.
> Since you folks just took the exam I would like
> you all to comment on your experience studying for
> level I and especially on the following:
>
> 1. The institute recommends 250 hours of study. Is
> that about right? How long did you guys study. I
> know productivity varies from one person to the
> next, but it would still help to know how much you
> put it approximately.
>
> 2. How much did you use the curriculum. I feel
> it's a valuable resource for learning, but does
> one NEED to use it?
>
> 3. Did you use a prep provider or take any prep
> courses? Which one is the best from Schweser,
> Stalla and Elan? Can people who used any of these
> companies' materials please comment on which one
> is the best for study guides, lectures, question
> banks, practice exams and online courses?
>
> 4. Any other advice you would give to a first time
> candidate...
>
> Thank you in advance for taking the time to share
> your thoughts.
>
> May you all pass when the result comes out in
> January.



Edited 1 time(s). Last edit at Monday, December 6, 2010 at 12:35AM by sdada.

suyash1989

1. I spent between 400-500 hrs. Ive been studying for 10 months in between work and school terms (Im a student), the time does add up. I really turned it up and studied a lot during the last 2 months though. I only had about 260 hrs done by september. I have a finance background so lots of this (most) was good review for me. lots of my time was spent doing questions.

2. I used the entire curriculum. hit every chapter, and EOC question. prep providers are excellent, but the curriculum is the foundation of what you should know before getting to the prep providers

3. I used schweser, was very pleased with their exams as I found them harder than the actual exam - no complaint here, Id rather be over prepared than under. I used the schweser notes as a quick review, skimming topics I knew very well and doing all the EOC questions. didnt use the qbank as much as I thought I would, but did all 6 practice exams.

4. I would recommend starting early, making a study schedule and leaving at least 1.5 months to do practice exams and review. do lots of questions, lots... because you will see the same types on the exam.

sgupta0827

Add to my previous comment: if you want best mock exams that, more or less, represents how the actual exam looks like, you should go for Elan mock exams

Omar

pogo

I agree with BruinBaker that Elan guides were a great help. I subscribed to their Eleventh Hour, 2000 practice questions and Mockups, found them really useful. Guess, the mantra is practice, practice and practice. The CFAI books will be great for people who do not have a background in finance. I have a background in finance and NPV, PV, IRR, FV etc has been covered since college days, so I preferred prep providers. It also depends if you have enough time provided you work full time.

mnieman

1. I'd say 250 hours underestimates the time needed if you want to feel totally confident come test day.

2. Curriculum is an important resource and should be the first place you look if there's anything you're unclear about. Having said that, the curriculum is also incredibly comprehensive and half the stuff in there you probably won't need to know.

3. A lot of people used Schweser and I've heard mixed things about them. Personally I went with Elan and I'm very glad I did. Their mocks are very close to what you'll see on the real exam and the 2000 practice questions are invaluable.

4. Take it slow and don't put it off to the last minute. Make sure you understand the material first time around rather than quickly glazing over each topic. That will save you lots of time in review and ensure that you have a firm grasp on all the concepts.

5. Good luck and also sorry. You have a tough 5 months ahead of you.