All about my CFA Journey | How I cleared Level 3 CFA in my first attempt?

Summary

This video script narrates the speaker's journey of successfully passing all three levels of the CFA exam, achieving a 90th percentile score in the first two levels and confidently expecting the same for level 3. The speaker shares insights into their study process, emphasizing the importance of a flexible study schedule, avoiding subject saturation by switching topics, and managing time effectively. They also discuss the challenges of balancing full-time work with exam preparation, the necessity of mock tests, and the motivation to succeed in one attempt, inviting viewers to share their CFA-related questions for future content.

Takeaways

• 🎓 The speaker successfully completed CFA Level 3 on their first attempt, following a high score in Levels 1 and 2 with a 90th percentile.
• 📚 For Level 3, unlike Levels 1 and 2, candidates are only informed of their pass status, not their actual scores.
• 📈 The speaker will share their study process and mindset in a separate video, emphasizing that their approach can be valuable for Levels 1 and 2 candidates as well.
• 🙏 The speaker expresses gratitude to their audience for their support throughout the year, highlighting a successful year despite initial challenges.
• 🏆 The speaker received recognition as one of India's 100 digital stars by Forbes, attributing their success to the support of their audience.
• 📅 The speaker began serious preparation for the August 2023 exam in May, leveraging their fresh knowledge from passing Level 2 in the previous November.
• 📝 The speaker did not follow a structured order in studying, instead, they switched between topics to avoid saturation and boredom.
• ⏰ The speaker studied 2-3 hours daily from May to July, increasing to 4-5 hours in August, while balancing a full-time job.
• 📉 The speaker solved mock tests from multiple providers, including CFA Institute, Schweser, and Mark Meldrum, to prepare for the exam's difficulty and format.
• 🕒 Time management is crucial both in daily study routines and during the exam, with the speaker advising to finish mock exams 10-20 minutes early.
• 🔢 The recommended 300-hour study time for each CFA level should be taken as a guideline, with the speaker emphasizing that study time should be as long as needed for individual comfort and readiness.
• 💪 The speaker discusses the importance of motivation, using the fear of failure as a driving force to pass the exam in one attempt.

Q & A

What was the speaker's experience with CFA Level 1 and 2 exams?

The speaker scored in the 90th percentile for both CFA Level 1 and 2 exams, indicating they performed better than 90% of the candidates.

How does the CFA Level 3 exam scoring work?

For CFA Level 3, candidates are not informed of their specific scores. They are only notified if they have passed the exam.

What was the speaker's study approach for the CFA Level 3 exam?

The speaker started studying seriously in May, with the exam in August, and had a consistent study approach across all levels, focusing on studying topics they wanted without following a strict order.

How many hours per day did the speaker study for the CFA Level 3 exam?

The speaker studied for roughly 2-3 hours a day from May to July and increased it to 4-5 hours a day in August, including time for mock tests.

Why did the speaker switch between different subjects while studying?

Switching between subjects helped the speaker avoid saturation and boredom, as the CFA curriculum is heavy and can lead to mental fatigue.

What was the speaker's strategy for managing study time alongside a full-time job?

The speaker managed to study while working full-time by dedicating 2-3 hours a day and taking full days off occasionally to maintain balance.

How many mock tests did the speaker take for the CFA Level 3 exam?

The speaker took a total of 4 mock tests from different providers, including CFA Institute, Schweser, and Mark Meldrum.

What was the speaker's recommendation regarding mock tests for CFA exam preparation?

The speaker recommended solving mock tests from multiple sources, including Mark Meldrum, to get a comprehensive understanding of the exam format and difficulty.

What is the significance of the 300-hour study guideline mentioned by the CFA Institute?

The CFA Institute suggests that students should study a minimum of 300 hours for each level, but the speaker emphasizes that the optimal study time varies and should be based on individual comfort and effectiveness.

How did the speaker maintain motivation during the CFA exam preparation?

The speaker maintained motivation by focusing on the reason they started and by being determined not to fail or give up, aiming to pass the exam in one attempt.

What was a significant achievement the speaker mentioned alongside passing the CFA Level 3 exam?

In addition to passing the CFA Level 3 exam, the speaker was also featured as one of India's 100 digital stars on a Forbes list, which they attributed to the support of their audience.