How to use the last 40 days to prepare for CFA Level 1Exam

We received the following question and we think this might be useful for other people as well:

I have one month left for the CFA Level 1 exam and so far I have not studied much due to my work. I have schweser notes pdf files and I have now your online videos and tutorials. Could you guide me that how many hours of study can help me in getting through this exam and a schedule which I can stick to. I have prior knowledge of finance and knows advance mathemetics. My toughest subject is financial statements & accounting.

Answer:

In general, you need about 200-300 hours of study. If you are able to spend about 6-8 hours a day, it should be fine. However, that also depends on your knowledge and your learning speed.

With Schweser notes, in principle, if you can finish and understand all the exercises, including the practice exams, you should be in a good shape. If you don’t have time to cover all materials and you must take the June exam, you may try to

1) go over the topics you know the least (e.g. financial statement and accounting) 2) read the summary in each chapter and complete the chapter exercise (review anything you don’t know) 3) finish all the practice exams and make sure you understand all the answers.

with these, you still have a good chance to pass.