- This topic has 4 replies, 4 voices, and was last updated Sep-189:59 am by
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Up0
Hi everyone,
Do we really need to be memorizing all of the formulae?I keep reading that this is the toughest part. Am I being naive to think that with this test being multiple choice and our calculators capable of doing a great deal of calculations on their own (i. TVM) that I won’t need to walk in having all of the TVM formulae memorized?
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Up5
@daharmattan1 — thank you, that’s what I figured.
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Up3
You’ll need to be able to use them to get answers, if that’s via the calculator and you can do it every time, then great
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Up2
Knowing the formulas is very helpful and you’ll likely continue using them into Levels II and III. But of course, its most important to understand the underlying concepts and how to apply it.
We have a calculator guide video that can help you learn the primary functions you need to know:
https://www.youtube.com/watch?v=Ehchb6Zvag0Also if you want an easy to reference quicksheet/formula sheet, we have one free with a free trial of AdaptPrep CFA:
https://www.adaptprep.com/CFA/Level-1/Trial -
Up0
Knowing formulas are not as important as knowing what they mean and what they’re used for. How changes in inputs affect the outcome. Of course it’s hard to know this without knowing the formula but knowing the concept makes the formula simpler to remember.
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