Is it too late or do I still stand a chance? settled, material, registered, everything

richer1983

Hi All,
Need sincere advice on whether I should still attempt the Dec Level I exam.

First of all, I registered very late : on 31st Aug to be precise. Got my study material on 8th Sep, started going through the study material and finished first 9 readings... (Ethics and Quant partly)
Then due to some family medial emergency, had to drop everything for entire three weeks...
Things are settled on family front; but now I am not sure on whether I stand any chance to go through all the material and successfully pass the Dec 2010 exam. Every time I look at those huge 7 books, I think there is no way i will be able to finish them by 4th Dec...
I will be able to devote 2 hours per day on weekdays and around 15 hours on weekends and probably take Nov last week off from work. I have masters degree in Economics; but that was 12 years back and haven't been in touch with that...

So here i am...
Need some help on whether I stand any remote chance and how should i go about it?

Thanks,
Amit

JGovender

You should make an attempt and, if you're in doubt, you can always regard it as a (albeit expensive) trial run, that is to say you'll show up and take the test but will not be angry with yourself for not passing (if you don't) since there were things beyond your control that made it impossible for you to put down the necessary amount of time right now. That happens to lots of people every year. Don't blame yourself for it, it's not mandatory to pass on the first attempt, especially not if things crop up and stack the odds against you. Focus on the three biggest/hardest topics only, probably FSA, equity and ethics. Skip the rest, i.e. settle for the option that when you take the actual test in December, you'll simply pick those answers at random in case you don't know how to solve them. By focusing on FSA, ethics and equity you'll have an advantage in June, if you were to miss, and you'll give yourself the best odds of passing by knowing these topics.

Isn't this just this classic question asked by at least some people every year?

rkapoor

Do your best, there's time if you keep at it, I was in the same situation in June and it was ok in the end
Keep at it, there's no time like the present

Kiakaha

Just appear with as much effort you can still put in ! Theres nothing lost by giving an attempt !
Wish you good luck

draz

Yeah, regardless of how much you study for the exam, you've already paid to write it, so might as well write it.

Start with the most heavily weighted sections and get as much done as you can. Buy the mock exam and do as many questions as possible.

When you write in Dec, you'll either pass and feel like a champion, or fail and have a great idea of what you'll have to work on for your next attempt.

pogo

Well now that you have paid and have to take it might as well dump some more on Elan guides. They are half as big and cover the important topics. If you dont need your hand held through the entire process they should explain enough to get ya through.
Get the 2000 questions also, if you can figure out all of those you will be much more confident.

agulani

level 1 is the only level that you can pass with background experience and 3rd party materials. there is no need to even crack open the CFAI books for this level. only if you have the time would I recommend it.

ramzes

^ I agree. L1 is EASY. you'll be fine with the background

evolsteevol

Get the Elan study notes- there are about 920 pages to read in total, about a third of the CFAI books, and as study material they're enough to pass ;)

Londonrocks

k-calculi Wrote:
-------------------------------------------------------
> you should first
> take a quick look at the material (in the original
> books from CFA Institute). Depending on how you
> yourself deem your odds, you might either want to
> buy those study guides now, i.e. the guides based
> on the 2010 curriculum, or you'll take your
> chances with the material you've got

Agreed, third-party study guides serve a purpose, particularly when you face tight time constraints, but aren't meant to replace the curriculum; you might learn the general concepts, but there's no way to know what those study guides are omitting unless you supplement your study with the actual curriculum.

The CFAI readings can be torturous to get through sometimes, but I feel better knowing I've at least covered all the material. I know for a fact there are EOC questions (particularly in FRA) whose solutions can only be found in the corresponding CFAI reading.