CFA Exam: Study Tips for L1 & L2 @ZellEducation
Summary
TLDRThis video offers seven essential tips for preparing for foreign exams like CFA. It emphasizes understanding exam formats, focusing on conceptual clarity over rote learning, practicing extensively, mastering calculator efficiency, time management, taking mock exams, and maintaining composure to avoid panic during the exam. The tips are applicable to various qualifications, not just CFA, and aim to enhance exam performance through strategic preparation.
Takeaways
- ๐ Understand the exam format: Know the structure of the exam, including the number of sections, duration, and types of questions.
- โฑ๏ธ Manage your time wisely: Calculate the time per question and prioritize completing the exam over answering every question correctly.
- ๐ง Focus on conceptual clarity: Emphasize understanding concepts over memorizing definitions and facts for better recall during the exam.
- ๐ Practice, practice, practice: Regularly practice questions to familiarize yourself with the exam style and improve your problem-solving speed.
- ๐งฎ Be efficient with the calculator: Learn to use the calculator effectively to save time and reduce the need for double-checking calculations.
- ๐ Utilize the method of elimination: For multiple-choice questions, use elimination to narrow down the options and increase your chances of selecting the correct answer.
- ๐ Take mock exams: Attempt at least three mock exams to simulate the real exam environment, manage time, and identify areas for improvement.
- ๐ก Prepare mentally for the exam: Develop strategies to handle initial questions that may cause panic, ensuring a calm and composed approach throughout the exam.
- ๐ Learn from practice and mock exams: Use the insights gained from practice and mock exams to refine your exam technique and boost your confidence.
Q & A
What is the first tip for preparing for foreign exams like the CFA?
-The first tip is to understand the format and pattern of the exam, including the structure of the exam sections and the time duration.
How many sections and what is the duration of each section for CFA Level 1 exam?
-The CFA Level 1 exam has two sections: a morning and an afternoon session, each lasting 2 hours and 15 minutes.
What is the significance of understanding the exam format before studying?
-Understanding the exam format helps in preparing mentally for the intensity of the exam day, which is almost four and a half hours with a break in between.
What is the second tip mentioned for exam preparation?
-The second tip is to focus on conceptual understanding rather than rote learning, which is crucial for exams like the CFA that require a deep comprehension of concepts.
Why is it important to practice questions from all types, including multiple choice and subjective, during exam preparation?
-Practicing various types of questions helps in familiarizing with the exam format, improving time management, and enhancing the ability to apply concepts effectively.
What strategy is suggested for answering multiple choice questions in the CFA exam?
-The strategy suggested is to use the method of elimination to narrow down the options and increase the chances of selecting the correct answer.
Why is being efficient with a calculator an important tip for exam preparation?
-Being efficient with a calculator speeds up the process of answering quantitative questions and reduces the need for double-checking calculations, which saves time during the exam.
How does managing time per question help in completing the exam?
-Managing time per question ensures that you can attempt all questions within the given time frame, which is crucial for increasing the chances of passing the exam.
What is the significance of taking mock exams before the actual exam?
-Taking mock exams helps in understanding the exam environment, managing time effectively, and identifying areas of strength and weakness, thus improving the overall exam performance.
What is the seventh and final tip for preparing for exams like the CFA?
-The seventh tip is to mentally prepare to avoid panic during the exam. This involves building confidence through thorough preparation and practice to maintain composure regardless of the difficulty of initial questions.
How do these tips apply to other professional qualifications beyond the CFA?
-These tips are generally applicable to other professional qualifications like ACCA, CPA, and CMA, as they also require a similar level of preparation and exam strategy.
Outlines
๐ Understanding Exam Structure for Success
The first paragraph emphasizes the importance of understanding the exam format and paper pattern before starting to study. It introduces the structure of the CFA Level 1 exam, which consists of two sessions, each lasting two hours and 15 minutes, totaling approximately four and a half hours including a break. The speaker advises students to be aware of the number of questions and the timeๅ้ ation, suggesting that this clarity is essential for effective preparation. The paragraph also touches on the difference in exam preparation required for Level 1 versus Level 2, highlighting the need for conceptual understanding over rote learning and memorization.
๐ก Mastering Exam Techniques and Time Management
The second paragraph offers advanced tips for exam preparation, focusing on the practical aspects of taking the exam. It discusses the necessity of practicing with a calculator to improve speed and accuracy, the importance of time management, and the strategy of attempting mock exams to simulate the real test environment. The speaker also shares a tip on how to handle the initial questions to avoid panic and maintain composure throughout the exam. The paragraph concludes with a reminder of the mental preparation required to stay calm and focused during the exam, suggesting that this mental readiness, combined with thorough mock exams and practice, can significantly increase the chances of success.
Mindmap
Keywords
๐กExam format
๐กConceptual understanding
๐กPractice
๐กMethod of elimination
๐กCalculator efficiency
๐กTime management
๐กMock exams
๐กMental preparation
๐กRote learning
๐กBig knits (Level 2)
Highlights
Understanding the exam format is crucial before starting to study.
Level 1 exams consist of two sections, each lasting 2 hours and 15 minutes.
Be aware of the intense day of almost four and a half hours with a break in between.
Level 2 exams include 'Big knits' and require a clear understanding of the exam structure.
Focus on conceptual understanding rather than rote learning for exams like CFA.
Learn definitions for recall and to rationalize concepts.
Practice is key, especially for formula-based and theoretical questions.
Use the method of elimination for multiple-choice questions.
Efficiency with a calculator can speed up answering and reduce errors.
Time management is essential; calculate the time per question to ensure completion.
Completing the exam is more important than answering every question correctly.
Take mock exams to simulate the real test environment and manage time effectively.
Mock exams help identify mistakes and improve performance over time.
Mental preparation to avoid panic is as important as academic preparation.
The first few questions can significantly impact your composure during the exam.
Regular practice and mock exams can reduce the chances of exam-day panic.
These tips are applicable to various qualifications like CFA, ACCA, CPA, and CMA.
The video aims to provide tangible tips for exam preparation.
Transcripts
there are seven tips on how you can
prepare foreign
[Music]
number one you have to understand the
format the paper pattern of these exams
way before you even start studying for
it so one of the first things that we
teach students is to be aware about what
level one what level do and of course to
be comprised of uh primarily in this
video I want to
more or less
level one there are two sections that
you have to appear for the exam the
first is the morning and then the
afternoon session and each are two hours
15 minutes long so just with the
understanding of what are intense day is
going to be like you appear for the exam
it's going to be almost four and a half
hours with a break in the middle you
know how many questions you have to
answer and the rest of the tips will
depend a lot on you having Clarity on
this level 2 for example as we as most
of us should know have something called
Big knits and once again how do you
prepare how many of these come what is
the time that you have to appear for for
level two all of it must be crystal
clear in your head tip number two the
second tip is something which I think is
a default for all of us to know we know
that a lot of our exams have sort of
sort of in us to
uh wrote learn a lot of things which
will not fly when it comes to exams like
CFA there is much more of conceptual
understanding required while you need to
probably learn definitions for your own
benefit so that you can recall the
metabolism
we've been sort of studying in that
environment for so many years try and
keep it in mind that it's not going to
be healthy for a long time so focus on
conceptual Clarity focus on
deriving the meaning of things or
deriving the cat the formula for certain
topics and try and come up with
rationalizing the concepts rather than
Market goes up or Road learning course
tip number three again a very common tip
uh but I see by far the students
which is
practicing practicing practicing again
we are so used to learning from the book
and so used to just practicing the
formula based answers because that's
number driven that has a clear yes or no
answer which you can check but the real
answer is that you have
how to practice these questions in full
whether it's multiple choice whether
it's a number driven questions or their
theoretical subjective answers
for example in multiple choice questions
for CFA level one uh
there are some of us who can actually
bet
our ability to answer questions by
applying the method of elimination you
look at the multiple choice questions
you have and instead of finding the
right one you decide which are obviously
not applying and then if there's only
one left you tally it if there is more
than one lap after elimination you at
least have narrowed your range of option
that can help you get the right answer
Point number four a super simple hack is
being efficient with the calculator
now I know that for example me
personally I used to not be very
handsome with the calculator before I
started studying in my case of the ACC
exam uh but learning how to practice use
these these tools they're as powerful as
a phone you not only can speed in up
your your ability to answer these
questions but it's it's not those few
things that you have to less double
check because it's done by the
calculator
and that's what CFA wants us to prepare
for they don't want us to really uh
calculate formulas which are already
present but they want us to quickly come
to the right answer which is supposed to
be a no-brainer and use that answer to
solve the question most people get stuck
in the first one they keep trying to
solve it and double checking if it's
right or wrong instead do that in your
preparation rather than the actual exam
Point number five manage your time the
beauty of such exams is that they give
you exactly how much time per session
and how many questions per session with
this you can obviously derive how much
time you're going to take per question
so if level one has 180 mcqs and one
section is 135 minutes you can basically
calculate that okay per question you
have less than one minute now why is
this important because when you enter
the exam it is most important that you
complete the exam rather than get
everything right I still say in most of
our sessions that if you complete
hundred percent of these exam in the
exam itself you already have a 50 chance
of
so people lined up missing it
passing these exams by a small margin
when they've landed up missing four five
questions by the end of the exam if you
would rather land up giving the sofa
exam there's a higher chance that you
will tip towards actually clearing the
exam by that small margin so preparing
for that during your practice is going
to be the most important thing which
brings me neatly to my next point which
is tip number six appear for on mock
exams
I have said this a million times I think
I'll keep saying it because there is
it's one of those
no-brainer hacks
aim at giving a minute of three mock
exams before you appear for each level
let's say the first focus is difficult
right uh you blocked yourself in a room
it's difficult you know you know some of
the answers but you cannot skip them you
have to it tackle them as to the real
example you do get stuck in some
questions you'll have time management
problems you'll have casual data
problems but you get through the first
exam and let's say you fare too early
okay
you know what the mistakes are start
with uh Mark two maybe on a three four
days later a week later
you do better then comes knock three you
do much better and by the language the
fourth model which is the real exam you
have no problem with the environment
with the pressure with the seed with the
ability to know what you're good at what
not to do how to manage your time etc
etc giving you the highest chance to
prepare the person if there are two
students who study the same level but
one has given three mocks and the other
has just either not given any work or
just blank through marks the that is a
hundred percent chance that this student
has a higher probability of clearing in
spite of having the preparation at the
same level last but not least guys tip
number seven uh there is a mental
ability that you need to prepare for
which is lacking of panic so what I mean
by that is that of course when you read
certain questions it in the beginning of
the paper specifically it it can
jolt your entire composure I have seen
that if the first two three five
questions that you read you'll know the
whole paper goes smoothly because your
the first few seconds have such a
positive impact and vice versa when you
don't know the first few questions
you're gonna go through the paper with
this
incomplete or this slightly panicky mode
that
you you you sort of extrapolate the
first few questions to the rest of the
paper
it is a matter of just mental
preparation if you'll end up appearing
for it uh the mock exams the the and in
fact before marks the practice questions
and you can test yourself on this you go
through that grind again and again
before the final exam the chances of you
not panicking because of your
preparation rather than the fact that
you are lucky you know all the answers
changes the game if you'd like to
understand how
the child will definitely guide you but
besides the last Point guys all of the
other points whether you're selling
itself whether it's studying by yourself
it doesn't matter and whether it's not
even actually applying only to see if
it's some points are specific but
majority majority of the points uh sort
of overlap whether you give CFA any
other qualifications like Acca CPA CMA
it's all going to have the same level of
preparation
so with that guys uh I hope that these
tips are something you can use tangibly
if it does help you please leave a
comment down so that others understand
the value of it leave a like if there's
any value in this video and
let us know what else we can make for
your face
[Music]
5.0 / 5 (0 votes)