Tips to pass the CFA exam

Taking exams is a skill itself. It is not always required to study hard to crack an exam. You need to take a smart approach. Either you are new to finance or not, there are some tips that can help you be better prepared to clear the CFA exams. Planning efficiently can help you. Let us take a look at some of the tips that can help you clear the CFA course much easier.

Focusing on the materials that are tested the most

It is true that you should understand the entire subject matter well. But, it also does not mean that you should be more focused on the materials that are tested more often. You can find the topics and the weights of those topics on the website of the CFA Institute. Portfolio Management and Wealth Planning, Derivatives, or Technical Analysis are not very common in the Level I exam. You would do much better by being better prepared for the Ethical and Professional Standards section.

Do not waste time

Even though it has been seen that on average students spend about 300 hours to pass the exams, it can depend on the background, skills and the courses that you are following. If you join CFA classes in Delhi, you would be more confident about your knowledge and can get prepared in much less time.

Keep a study plan prepared at least 6 months before the actual exam

You cannot take the exam lightly. No matter how long you take to clear the exam, it is important to keep some time aside each day and prepare for the exam. If you spread the study over 6 months, you can create a solid routine and digest the materials properly. You can also some time to do your revisions. This strategy should work for CFA level 1. You might want to set aside a little more time for the subsequent levels.

Focus on the concepts more

You need to understand that the concepts are becoming the focus of the CFA exams as of late. You need to focus on the concepts more and prepare a sheet of the formulae that you would need. If you grasp the concepts well, you can derive something more, if you require them.

You need to do a lot of practice

You need to constantly remind yourself that the CFA exams are lengthy – 6 hours. This means that time management is crucial. You would be able to recall the concepts and frame answers only if youput in a lot of practice. There are a lot of mock exams and practice questions offered by CFA. You can practice more if you go through an online learning course.

If you follow these tips, you will find that it is not too difficult to pass the CFA exam. All it takes is determination and the will to keep working hard.