The SECRET to Passing the CFA Exams

Summary

This video emphasizes the critical role of memorizing formulas in the final week before the CFA Level 1 exam, which the speaker believes is the 'secret sauce' for success. The speaker shares a method passed down from Mark Meldrum, involving intensive handwriting of each formula multiple times to commit them to memory. The process is detailed, including creating a comprehensive formula list, practicing with chunks of 10 formulas, self-quizzing, and highlighting and re-memorizing those that are difficult. The speaker recommends taking two full days for this process and the day before the exam off to review, which they claim can significantly boost confidence and exam performance.

Takeaways

• 📅 The final week process is crucial for passing the CFA Level One exam.
• 🔑 Memorizing formulas is the secret to boosting exam preparation in the final days.
• 🧠 Formula memorization is particularly important for Level One due to its simpler mathematical nature.
• 📝 A comprehensive list of formulas is essential, which can be compiled from practice questions throughout the study period.
• ✍️ Handwriting formulas multiple times is an effective method for memorization.
• 🕒 Allocating 24 hours over 3 days for intensive formula memorization can significantly enhance exam readiness.
• 🚫 Avoiding over-reliance on formula derivations and focusing on memorization for quick recall is advised.
• 🔄 Re-testing oneself after memorizing each formula set helps reinforce learning.
• ⭐ Highlighting and re-memorizing formulas that were difficult during the first review is key for exam day.
• 🛑 Taking a break before the exam can help in mental preparation and reduce exam day anxiety.

Q & A

What is considered the secret to passing the CFA Level One exam according to the speaker?

The speaker believes that the secret to passing the CFA Level One exam is memorizing formulas, especially in the final week leading up to the exam.

Why are formulas so important for the CFA Level One exam?

Formulas are crucial for the CFA Level One exam because it has the most simplistic mathematics compared to other levels, and knowing the formulas can help quickly solve questions with provided information.

What is the speaker's recommendation for creating a list of formulas to memorize?

The speaker suggests creating a formula sheet by writing down every formula needed to answer questions correctly during study sessions, or purchasing formula sheets from test prep providers, but condensing them to the most relevant ones.

How does the speaker suggest memorizing the formulas effectively?

The speaker recommends handwriting each formula 10 times, then quizzing oneself to memorize them. If a formula is not remembered correctly, it should be written out additional times.

Why does the speaker suggest taking a day off before the exam?

The speaker suggests taking a day off before the exam to allow the brain to rest and to prevent burnout, which can be beneficial for exam performance.

What is the significance of the final 24 hours before the exam according to the speaker?

The speaker implies that the final 24 hours before the exam are crucial and should be spent reviewing, but does not detail this in the provided script, suggesting that it is covered in other videos.

How does the speaker suggest using the formula sheet on the day of the exam?

The speaker advises reviewing the formulas, especially the ones that were difficult to memorize, on the morning of the exam or during the commute to reinforce memory.

What is the role of memorizing formulas in boosting confidence during the exam?

Memorizing formulas can significantly boost confidence during the exam as it allows考生 to quickly recall and apply them to answer questions, which can lead to a higher score.

What is the speaker's personal experience with the formula memorization process?

The speaker personally followed the formula memorization process for all their CFA exams and believes it was instrumental in passing, especially the Level One exam.

Why does the speaker attribute the success of formula memorization to Mark Meldrum?

The speaker attributes the success of the formula memorization process to Mark Meldrum because he received the tip from a video by Meldrum and found it to be extremely effective.