Jan 18 2012, 07:05 PM
QUOTE(shermanyun @ Jan 18 2012, 04:48 PM)
(1) What about yourself? How much study time did you dedicate for Level 1 average per day and how many days you took for the exam? I'm a Commerce graduate, a CPA Australia and 10-years corporate finance experience. I just wish to get a gauge to balance my work-life.
(2) On "expiry" issue, what I meant is that if I decide to take the next step much later after passing the first, due to reason such as work/family/financial commitment etc, and not because I have failed after repeated takes (none to begin with). Will the institute say that since the materials get refreshed regularly, I am required to re-do level 1 if I decide to register for my level 2, say, 7 years later. Has this occur before?
(3) Do you attend classes? Or do you think these classes are "passable", ie you can manage the same without them.
(2) On "expiry" issue, what I meant is that if I decide to take the next step much later after passing the first, due to reason such as work/family/financial commitment etc, and not because I have failed after repeated takes (none to begin with). Will the institute say that since the materials get refreshed regularly, I am required to re-do level 1 if I decide to register for my level 2, say, 7 years later. Has this occur before?
(3) Do you attend classes? Or do you think these classes are "passable", ie you can manage the same without them.
QUOTE(kinwing @ Jan 18 2012, 05:55 PM)
(1) I did Level I and II each in a time span of 4 months, and I spent at least 1,000 hours (exclude time for tuition class) for each level, so I spent about 8 to 8.5 hours each day in studying for Level I and II. For level III, I also took at least 1,000 hours to study (exclude time for tuition class), but it took me 10 months to complete the study, so in average I spent 2.5 to 3 hours in study each day.
(2) As far to my concern, there is no restriction imposed by the CFA Institute on how many times, how frequent or how long you could take the program.
(3) I attended tuition class for Level II and III. For my opinion, if you have time to study, self-study is more than enough. However, the most effiecient way to study is to form a study group (in my opinion anyway). Of course, to find a group of friends who are taking the same level as you will normally from the tuition class.
I took around 250 hours self studying and practicing Level 1 using the Schweser study notes. Schweser has around 70-80% of the curriculum of the official CFA book but only 50% of it's total pages, ie 1.5k pages as compared to 3k. Since you have 10 years of CF experience, there shouldn't be much problems.(2) As far to my concern, there is no restriction imposed by the CFA Institute on how many times, how frequent or how long you could take the program.
(3) I attended tuition class for Level II and III. For my opinion, if you have time to study, self-study is more than enough. However, the most effiecient way to study is to form a study group (in my opinion anyway). Of course, to find a group of friends who are taking the same level as you will normally from the tuition class.
I don't think there's an expiry date. But if you delay your sittings, certain chapters from the higher levels will be brought down a level since new theories etc will be introduced. After a 7 years gap, I think the entire level 2 might end up to be the same difficulty as level 3 7 years ago.
I have a senior who self studied all 3 levels. He passed 2 levels without fail, but this is now his 3rd attempt at level 3.
The thing I find about self studying is that you are all alone. If the book can't explain it to you, and you can't get a suitable alternative explanation, you are in deep trouble. Attending classes help in these situations.
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