Intending to take CFA1 in November, when should I look at the next levels?

Question

Hi all!

I'm new to the scene and am hoping to take the CFA to do a career switch to finance. Intending to take the CFA1 in November, and am motivated enough to try my best to clear them all soon as I can, but I would like to be reasonable.

Assuming I pass them on the first attempts, when should I schedule my CFA2 and CFA3? Is it too much to try and attempt them within 2022? I heard it used to be a 3 year minimum commitment. Is there a 6 months rule in between each level still?

If not, something like CFA2 in Feb2022 and CFA3 in Aug2022, or else CFA2 in Aug2022 and CFA3 in May2023, if the 6 months rule apply.

Regulations aside, how much time is necessary to actually study and practice for the exams? I don't have a finance degree or work experience, so I accept that I might need to work extra hard.

Thanks!

Sophie Macon · Accepted Answer

The 'usual' recommendation is you'll need about 6 months preparation between exams, and about 300+ hours total study time per level, might be more depending on individual. This should give you a good idea on what weekly commitments you'll need.

Our free study plan (generate one here) will be able to calculate all this stuff automatically for you, just put in your parameters.

Given that you don't have finance degree or work experience, I'm assuming you'll need to put in some good hours and clear your final month for review and mocks.

If you're sitting for your L1 exam in Nov21 you won't be able to sit for your L2 in Feb22. The fastest route would be Nov21-Aug22-May23. Our journey planner would help you figure this out.

There's also a beginners guide to the CFA exams that might be useful for you:

What Is The CFA Exam? A Useful Beginner's Guide

Hope that's useful! If you have more questions just start a new topic.

Scarlet07 · Answer

Thanks for the detailed reply.

Used the study planner..

It's..amazing!

Zee Tan · Answer

Glad you find it useful, @scarlet07. It also works for CAIA and FRM so pass the word on to anyone who might find it useful!