CFA CFA Level 1 Test Prep and Test Day practical tips

Test Prep and Test Day practical tips

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    • channing_cox
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      I took the lvl 1 test in dec, and will be taking it again here in about a week. There are a few things that I have done differently this time around and I thought I would share them here.

      I think the advice in the blog from a few posts back was pretty good, in which it was said that you need to focus on the main subjects of the test based on their % weighting of your final score. Wasting time in derivatives can be interesting for knowledge purposes. However, at this point if you are behind you will get the most score improvement for your valuable time going forward by drilling down FRA, Quant and Econ.

      Practice ethics problems help more than reading the actual regs and guidance. When you get one wrong write down the specific rule, and start a list. When you get one right on a later attempt and feel comfortable with the issue cross that sucker off.

      Memorize the valuation models for petes sake.

      Look at the user manual for your calculator. On my calc there is a BOND button, as well as a DEPR button…

      Some advice for test day;
      Bring your backpack with your notes and lunch. During the lunch break you will have an hour to do whatever you want and having your notes + lunch will allow you to spend some time keeping your short term memory refreshed.

    • Sophie Macon
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      Solid, great advice @channing_cox! Great to have you here with us on 300HC πŸ™‚

    • Snippy
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      Hey @channing_cox! I wrote L1 in Dec and writing it again in June! Agree with you on everything here.

    • KawiGreen
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      So during the break, we are able to get our backpacks and do some quick catch-up studying between AM and PM session?

    • Snippy
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      @KawiGreen Absolutely. Just make sure your backpack is kept in a place easily accessible to you. Usually, at least in my centre, the crowd at the backpack area is insane. Didn’t get to eat my lunch last time >.>

    • KawiGreen
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      @sidmenon thanks! What’s the protocol for finishing a section early… are you allowed to leave early or are you made to stay in your seat until the 3 hours is up?

    • Snippy
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      As far as i know and have seen, you got to sit till the end of the session.

    • sankrutimehta
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      @KawiGreen: you can leave if its before the last 30mins of the exam. But I would not advice it as you could may be have a good read in that time of what you have written

    • hairyfairy
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      This thread makes me sliiiightly nervous.

    • aanchalb
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      i am taking the june test.
      what do u mean by valuation models?

    • GraemeA
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      Does anyone know if we can write on the question paper (use it as scrap paper for calculations) during the exam?

    • vincentt
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      @GraemeA yes you can, just not on your ticket.

    • GraemeA
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      Thanks Vincent

    • lulu123
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      are pencil cases allowed? or do we have to carry in our pencils in our hands?

      also just to check: can we bring mechanical pencils? or its a must to bring hb +sharpener ?

    • vincentt
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      @lulu123 as far as i’m aware, you are not allowed. Not even the wrapper for the batteries of your calculator, you have to remove them and only take your batteries in.

      Mechanical pencils are okay, but not recommended unless you are very careful with highlighting your answers (not to puncture through the paper).

    • connectconnect
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      More tips to add to the list!

      β€’ Mindset – 70% is a fine score

      β€’ 100% is not the goal – passing is the goal

      β€’ Organize your study well in advance of the examination. Divide the material into manageable units (for example, by Study Session) and then allocate a certain number of hours per day or week to studying. Then stick with it! A common study plan is to complete one study session per week.

      β€’ Read the 2010 CFA Level I (or II or III) Study Guide, which has a wealth of information and will help you organize your study plans. For Level I candidates, this information also appears in the front of Volume I of the custom curriculum.

      β€’ Save the candidate web site and refer to it often. This site will link you to several frequently used candidate services.

      β€’ Purchase your curriculum early.

      β€’ If you have not yet purchased the calculator you will use for the examination (www.cfainstitute.org/cfaprogram/calculatorpolicy.html), it is strongly encouraged to do so. Learn your calculator completely. Valuable time will be wasted if you have to refer to the keystroke instructions during the examination.

      β€’ Experts agree that more learning takes place when study is spread out over several sessions. In other words, people generally learn more from six two-hour sessions than from one 12- hour session. Structure your study program so that your time is used effectively.

      β€’ When developing your schedule, make sure to leave time for relaxation so that you don’t get overwhelmed.

    • Sophie Macon
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      Awesome regardless @connectconnect – lots of good tips. Thanks for sharing!!

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