The Hidden Study Session
The Hidden Study Session - Or Keys to Passing the CFA exam
Every year over 200,000 Candidates prepare for the CFA exam.
We buy our books. Look at each study session and each LOS, and if we're diligent, prepare a study plan for how we're going to get through thousands of pages of material.
There is just so much material to cover.
That's daunting enough. But the material is only part of the study process.
There are hidden dimensions to the CFA Exam
First, and most obviously, to pass you must clearly understand how the material is going to be tested. We talk about that a lot in other blog posts.
Second, and equally important, is internalizing that successfully passing all three levels of the CFA exam tests your ability to create discipline in your life.
The minimum amount of time you will be a CFA Candidate is 18 months (really 24 if you factor in studying for the first exam).
For two years you must organize your life and your time in a way that allows you enough time to read, understand, and practice the material.
The Process is what gives the Charter value
If you think about the exam process as initiation this should make sense.
Across most societies, humans have intuitively created rites of passage and initiation/hazing rites to mark entrance to another group (if the exam is 3+ months away see this quick How Stuff Works post on hazing).
Now the CFA process has worthy goals in placing these barriers to entry that let us justify the fact that "it was worth it." We're not talking about a college fraternity here.
But the three exam process is built in a way that you must embrace the pain and sacrifice over a long period of time to get to the promised land.
Putting it together
First you must know the what of the material. Second, you must know what to focus on by understanding how the concepts are likely to be tested. Finally you must carve out extensive time for when you plan to study.
If you need help figuring out the what, how, and when sign up for the free newsletter and we'll get started.