Things to know about CFA Preparation Course

If you are interested in pursuing a career in finance, you may be considering taking the Chartered Financial Analyst (CFA) exam. This exam is notoriously difficult, but with the right level of preparation, you can increase your chances of passing. In this blog, we’ll take a closer look at what a CFA prep course entails and why it might be a viable career option for you. Before we get ahead of ourselves, let us understand the CFA exam a bit more intricately.

The CFA exam demands you deliver your absolute best. The three-staged exam evaluates your understanding of economics, investment, wealth, and portfolio management. CFA Institute, an organization in America run by investment professionals, arranges the exam.

Benefits of taking a preparation course

CFA Level 1 preparation classes will guide you throughout your learning journey as they are designed to do so. The curriculum comprises all the subjects based on which the questions for the exam are given to the examinees to solve. For this reason, you have to prepare well for all the sections and prevent skipping any topic so that you don’t face any conceptual gaps during the exam. The major courses the test revolves around are ethics, quantitative, economics, financial statement analysis, and portfolio management analysis, to name a few. A reputable CFA prep course provider has a lot of industry experts onboard their learning platform who are certificate holders themselves, so you can be sure that you are learning from the best.

Research suggests that only 41% of the aspirants move on to the next level. But don’t let that dampen your spirits! A concise and to-the-point preparatory course for level-one exams will provide you with the study material and guidance that can sharpen your knowledge of financial subjects.

Most CFA level one preparation classes come with a study plan that keeps you on track and doesn’t let you lose sight of your goal. Experts suggest that aspirants should start their preparation nine months before their exam, which includes the six-month course study and three-month revision. Despite the vast syllabus, study plans help you break them down into daily bite-sized learning modules which you can attend every day without veering off from your work.

The CFA Institute decrees that to pass the exam successfully, you must invest a minimum of 300 hours of your time in studying.

A CFA prep course for level one aspirants contains practice papers and mock exams that help in self-assessment. If the aspirant gives the model questions in an environment to simulate the exam conditions, it increases the speed and efficiency of the examinee. It also boosts your confidence and increases your chances of passing the examination.

The courses are accessible from any device at all times because they are in a cloud server, ready for you to download on your device and pick up the study from you left off. Online access to study materials is helpful for people working somewhere full-time and learning the subjects after finishing their work.

There is a CFA prep course tailored to your budget and time constraints if you want to learn and become a glorified member of the esteemed CFA-certified club.

Some reputable prep course providers also have live, engaging, and interactive lectures which you can attend to grasp the concepts.

You get unlimited access to communities where aspirants discuss their ideas or hindrances they are facing in solving a problem. Active participation in these forums increases your knowledge, helps you to perceive questions more analytically, and keeps you updated regarding any changes in the curriculum.

Generally speaking, the CFA level one preparation classes help the students achieve mastery in all the key topics having higher weightage due to doubt-solving sessions with the instructor.

Important Tips to Remember Before Registering

After the completion of preparation for your CFA courses, please remember that you need to register for the examination. The examination fee has two components: a one-time enrollment fee and a variable part that depends on how early you register for the exam. Early registration costs 900 USD, and the late registration fee is 1,200 USD. The variable part is not one-time fee examinees have to pay for that as many times as they sit for the exam.

Keep in mind that the Minimum Passing Score or MPS of the exam changes every year, but it is speculated that it generally ranges between 70 and 80 percent.

Conclusion

You must understand that when you are signing up for a Level One CFA prep course, you are committing to the goal. The course is albeit designed to be tough, so be prepared to put in the time and effort required to pass. The study material, along with practice papers, flashcards, and doubt-clearing sessions are invaluable tools for you to pass the CFA exam.