Just Being Nerdy!!!

Question

As I sit across the computer looking at my CFA Level 3 result, which starts with "Congratulations!" (I did not have the heart to read anymore!!), it just hit me that how did I get there!
To begin with, I am no 95% student nor do I call myself a prodigy. But I am also not lazy and do pursue my decisions with no thought of giving up.
Well, I started my CFA studies while in the last year of my graduation in Commerce. It was 2 months to my Final Exams (in April) and just 3.5 months for CFA L1 exam (in June). And I cleared!!!
I am not saying that its a great idea...but it's not impossible either.
Some key learnings I had from my journey till 6th August 2013 when I saw my L3 result is what I would want to put in here:
1. CFA is no piece on cake, but nor is it as tricky as the journey to Mars. All it requires is dedication and pursuation. Anything can be learnt if we pay enough attention. Note that no geniuses clear CFA exams, they are rather hardworking people.
2. Doing CFA does not mean you go anti-social. I say once in a while we all need human contact to avoid turning zombies. I would always gift myself with one outing a week (for 1-2 hours) if I could complete the target throughly.
3. No use skipping any topic. If done, eventually it will come and bite your ass in the next level. Since every topic builds upon itself, even if u manage to pass after skipping a topic, it will haunt you throughout the journey to the charter.
4. Don't try contemplating the result during study time or exam. CFA curriculum itself is enough to keep anxiety levels high. During the exam, it doesn't make sense thinking if you would pass. Cuz it anyways doesn't depend on your stand alone performance and you cannot know the MPS before hand. Plus CFAI gives you a good 1 month to keep contemplating about the result.
5. Rest well. CFA is just like any other exam where u need to be well rested, not just before the exam but through your preparation. Remember, Rome was not built in a day. So you cannot complete the curiculum if you study all day and night without a blink. Rather rest well and have the foundation build brick by brick.
And just when you are about to say that all this is easier said than done, I do admit that during my study there were times when I would just get bored or procrastinate. But those are random pangs of mood swings. Unless there is a a concious attempt to do away with those mood swings, nothing in life could be achieved.
In addition to these tips, couple of level specific tips,
Level 1: Know your calculator well!!! Read the exam policies as this might be the first prefessional exam you take!! Know the concepts well!! (Will help in L2) - I had started L1 studies from end of Fe and completed in April with May for practice.
Level 2: Practice, Practice, Practice!!! The utter vastness of L2 curriculum is overwhelming. But practice is all it takes. - I started L2 studies in Nov, with heads-on prep from Jan till mid-April.
Level 3: Write papers in exam like conditions! The curriculum is relatively simple but the exam questions are not. All you need is many papers (which the institute offers with guidelines). If possible get someone who has cleared the exam to check your papers.

I would keep coming with more Nerdy blogs!! Till the next time...keep nerding :)

MattyJ · Answer

I can relate to the mood swings. There has been a few times during FRA where I'm thinking what the heck I've gotten myself into. Anyone else want to throw their head into a wall at times?

Having finished a mock exam the weekend before my Level 2, I scored in the mid-50's. I jumped up, screamed in anger, and launched the pen across the room into the wall on the other side. Man I was pissed. Luckily it was in the office at 10pm on a Saturday so I was on my own. Ended up passing, god knows how!

vincentt · Answer

awesome post! Keep them coming :D