I did about 350hrs and passed with flying colours, but it's important to note that I had considerable studies in the area previously.
It really depends on your previous studies and your ability to learn and memorise the material on a first run through. Reading the CFAI Cirriculum (if you take this route which many previous passers have not and just used Stalla/Schweser) takes about 150 hrs (approx.) and final review and mock exams will normally knock off another 50-100 so you'll get there quite quickly.
I am currently studying for III in June 2012 and Level I would be about the only Level that I feel you would get by with on the 300 hr mark for as the others require a fair bit more work.
So glad to know this. I just got the Schweser books and judging from all posts I will be using those and the EOC questions of the CFA material and mock exams.
Do you think doing Level 1 in December and then Level 2 the following June is doable? Would just like to minimize the time of what people call "hell"! I do have a background in Economics and Finance.
December - June turnaround is certainly doable (many on this forum has claimed success at this).
I myself did June 2009 and then June 2010 and found that I could take the material at a steady pace from August to June and got through but still found myself struggling to grasp some of the material by April 2010.
As noted I didn't have to study intensely so could easily have reduced the time frame but remember that June to June gives you 10 months to study for II and Dec to June gives you 4 months. I did about 500 hrs for II and again got good results matrix (8 >70% and 2 51-70%) but don't think I could have passed with too many hours less. Assuming that 400 hrs could have got me through, this equates to 100 hrs per month in the Dec June method or about 25hrs/week for the 4 mths. From my perspective this describes "hell" but to others reading this stuff for 10 months could be their "hell".
Many seem to have got through with less time that this but I haven't seen one yet that passed with great confidence and I think this is what giving yourself the greater turnaround time allows.
Ok people, never once did the OP mention his/her background, education, or experience. So all these replies are based on random assumptions. We're not talking community service here, people learn at various speeds and start at different levels.
Why do people ask these questions? You know the answer is different for everyone. CFAI says 250 is the *minimum*, so just try to study significantly more than that....
Even if people here say that 300 is enough, and you fail, are they suddenly wrong? Even if you feel the need to ask this question, why can't you use the search button?