- This topic has 7 replies, 6 voices, and was last updated Dec-179:38 am by
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Up3
Hi Everyone! I just stumbled upon this forum and looks like this is the right place to ask my question. Since I am new to the forum, I dont know much about how it functions. I am thinking of taking CFA level 1 exam in June and I have been reading many posts, blogs etc. Some ppl say it is possible to pass the exam even without finance background, others say finance background is a must for passing. Also, is it worth it passing the first level? Will it open any doors in the job market? I have a bachelors degree in business and currently doing my masters degree in economics. I do not have any related work experience, and my business degree covered only two introductory accounting courses and introductory course on corporate finance (most of which I already forgot). Given my situation would it be advisable for me to take the exam? I dont have trouble of disciplining myself, therefore, I will put in the neccessary hours. Any help is appreciated. Thank you.
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Up5
I think studying the material vigorously is a must for passing the exam. Can’t really think of anything else.
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Up4
@andalusia98‌ Absolutely. You’re far from the minority.
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Up3
Thank you everyone for the answer and support!
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Up2
thank you for the answer WesMantooh! I hope I can make it through as well!
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Up1
I had zero finance schooling and zero related work experience before starting the CFA program and it has been fine through two levels.
Having prior schooling in any of the areas is definitely not mandatory for passing these exams. Having said that I found having prior Accounting knowledge was helpful.
What usually is mandatory is putting in solid chunk of time to understand the material and then practicing exam type questions as often as possible. -
Up1
Hey @andalusia98‌ – welcome to the 300H gang!
@Wesmantooth is right, the purpose for the CFA exams is to put everyone (regardless of background) on even ground, and especially useful if you have no finance background as this is where you can learn most of it from scratch and earn a worldwide recognised designation. Neat eh? The syllabus does not assume any prior knowledge, so you’re in good hands (with us and the CFA exams)!
Good luck for your preparation 🙂
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Up1
Yes, I also had zero accounting and finance knowledge. I had quite a bit of quant knowledge, but frankly there is vary little of a quantitative nature in the whole of the CFA.
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