How to Pass CFA Level 1 Exam
Рет қаралды 22,718
Күн бұрынRyan O'Connell, CFA gives his breakdown on the most efficient way to study for and pass the CFA Level 1 Exam on the first try.
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Chapters:
0:00 Introduction
0:21 Do Not Read The Official CFA Institute Textbooks
1:01 Use Third Party Prep Poviders
2:19 Rely Heavily On Flashcards
3:39 Work Over 1,000 Practice Problems
4:52 Finish the Curriculum At Least 2 Weeks Early
5:55 Remove The Social Media Apps From Your Phone
*Disclosure: This is not financial advice and should not be taken as such. The information contained in this video is an opinion. Some of the information could be wrong. This channel is owned and operated by Portfolio Constructs LLC. Some of the links above are affiliate links, meaning, at no additional cost to you, I will earn a commission if you click through and make a purchase.
@RyanOConnellCFA Жыл бұрын
📚 CFA Exam Prep Discount - AnalystPrep: ► Get 20% off CFA Level 1, 2, and 3 complete courses with promo code "RYAN20". Explore here: analystprep.com/shop/all-3-levels-of-the-cfa-exam-complete-course-by-analystprep/?ref=mgmymmr
@jaker5230 3 жыл бұрын
love the tip on deleting social media apps. its one you dont hear often. ive done this since college when i would delete social media for 2 weeks to prep for finals. Great video!
@RyanOConnellCFA 3 жыл бұрын
Thank you Jake, I appreciate the feedback! It was so hard for me to delete my social media apps for some reason, but after I did I hardly even noticed or cared that they were gone. I wish I'd have done it sooner lol
@JoeMaule Жыл бұрын
Working through as many practice problems as possible is absolutely key. Even if you learn the content from prep providers, come back and do all the end of chapter questions in the CFA books
@RyanOConnellCFA Жыл бұрын
Awesome to see someone making similar videos Joe, keep up the good work!
@JoeMaule Жыл бұрын
@@RyanOConnellCFA Thanks Ryan, I enjoy your videos!
@rahafalamoudi3235 2 жыл бұрын
Thank you Ryan, very informative and straight to the point video. I have watched this twice and wrote done all your valuable notes. Thanks again
@RyanOConnellCFA 2 жыл бұрын
I'm glad to hear you got so much value out of it Rahaf!
@aceapocolips 3 жыл бұрын
While the institutes book is 3 times as long, they also provide alot of other resources for candidates. They have games, flash cards, user made study guides, and forums where you can discuss topics with other people who are studying and create study groups. They also have mock exams created by the institute for people to take. Great video thanks for the tips!
@RyanOConnellCFA 3 жыл бұрын
I love the CFA Institutes' mock exams and the topic tests on their website! Glad you enjoyed the video
@yc8072 3 жыл бұрын
Thanks for providing such practical and useful advices !!!
@RyanOConnellCFA 2 жыл бұрын
It is my pleasure!
@tedgrove7775 3 ай бұрын
This video has excellent advice that L1 candidates will find useful. The CFAI study interface has all the EOC practice problems in the readings + additional questions, and they are integral to building confidence and knowledge. The institute's study interface is really exceptional when it comes to this. And the mock exams offered by CFAI are excellent for confidence building. Mark Meldrum's system is also great - I cannot recommend him enough. Cheers 🥂
@mukhammadaliakramov1317 3 ай бұрын
thank you respect your tips
@ckennedy1973 2 жыл бұрын
Just started the process. Very helpful info
@RyanOConnellCFA 2 жыл бұрын
Best of luck!
@williamkaseu 3 жыл бұрын
Great tips, keep up the good work.
@RyanOConnellCFA 3 жыл бұрын
Much appreciated William!
@mehdimijit3335 2 жыл бұрын
Thank you so much for your video , i like the content.
@RyanOConnellCFA 2 жыл бұрын
Glad you enjoy it!
@chiragthakur3533 3 жыл бұрын
Thankyou ryan ❤️
@RyanOConnellCFA 3 жыл бұрын
My pleasure Chirag!
@yosmuc 2 жыл бұрын
Thank you ! :)
@RyanOConnellCFA 2 жыл бұрын
My pleasure!
@jon6082 2 жыл бұрын
I have been using CFA curriculum textbooks to prepare for my local university Msc Finance program and it is very useful even the master program is not as prestigious as CFA which is internationally recognized.
@RyanOConnellCFA 2 жыл бұрын
Those curriculum books are great if you've got a lot of time on your hands and like the granular details. I don't recommend them for CFA candidates as much because usually, they are very limited on time between their jobs and the CFA program
@chipmoffatt7748 2 жыл бұрын
Great video and thanks Ryan. Would your advice for reading the full curriculum (vs not) change for someone with zero finance background?
@RyanOConnellCFA 2 жыл бұрын
For someone with zero background in finance, I'd likely try reading the shorter versions like Schweser or Wiley first, and then for sections you don't understand, consult the longer original curriculum chapters if need be. That's probably the best of both worlds
@icecream6680 3 жыл бұрын
i enjoyed ur video ! 🤓 my exam is on august i hope im gon pass
@RyanOConnellCFA 3 жыл бұрын
Appreciate the feedback and goodluck passing!
@afihaileywibowo1095 Жыл бұрын
Thanks Ryan!
@RyanOConnellCFA Жыл бұрын
My pleasure!
@afihaileywibowo1095 Жыл бұрын
I hope you do know that your channel helps a lot for a CFA aspirant like me. So thank you again. Eagerly whenever for your next videos, tutorials, chats, etc. A fan 🩷🙏😊
@RyanOConnellCFA Жыл бұрын
@@afihaileywibowo1095 I'm genuinely thrilled to hear that my content is aiding in your CFA journey, Afi. More videos are on their way - stay tuned!
@mohamednabil4039 3 жыл бұрын
Great job
@RyanOConnellCFA 3 жыл бұрын
Thank you Mohamed, good luck with Level 1
@masterh9795 2 жыл бұрын
Thanks for the tips! what do you think of Salt Solutions ?
@RyanOConnellCFA 2 жыл бұрын
Sure thing! I've never heard of them
@AshishArya14 3 жыл бұрын
Very informative video, can you please tell that should I go through scheweser notes first or watch mark videos first?
@RyanOConnellCFA 3 жыл бұрын
Either way should be fine! It may be good to do them side by side. For example, you could go through one LOS in Schweser and then immediately go watch that LOS in Mark Meldrum's video to reinforce the concept
@AshishArya14 3 жыл бұрын
@@RyanOConnellCFA Thank you so much PS: You have highly informative videos
@RyanOConnellCFA 3 жыл бұрын
@@AshishArya14 You're welcome and I appreciate the feedback!
@abdulazizjabri7144 2 жыл бұрын
is using kaplan schweser notes enough? or i need mark meldrum videos too? Talking about CFA level1. Appreciate your work!
@RyanOConnellCFA 2 жыл бұрын
Just 1 should be sufficient!
@tatendamavingire6975 3 жыл бұрын
Thank you for the video! I am planning to register for the Feb 2022 exams, how long do you think one should get prepared to write level 1?
@RyanOConnellCFA 3 жыл бұрын
Hello Tatenda! I would say that if you have a degree in finance then about 150 to 200 hours should be sufficient. If you do not have a degree in finance, then it would be best to aim for 300 to 400 hours
@tatendamavingire6750 3 жыл бұрын
@@RyanOConnellCFA Thank you
@benbarel999 Жыл бұрын
Hey great video I wanted to know if I have to have a bachelor's to do the CFA certificate or I can just do the test
@RyanOConnellCFA Жыл бұрын
I am fairly certain that a bachelors degree is required! But it can be in any subject
@claudiotomasvaldespinuer4588 9 ай бұрын
Hi!! ryan and what is your view about the books exercise from schweser? those are as useful as the original practice problems? regards from chile
@RyanOConnellCFA 9 ай бұрын
Hey! Are you referring to the end of chapter questions in the Schweser books? If so, I always did those and found them to be helpful but a bit easier than the end of chapter questions in the CFA books
@hockeycentral1149 2 жыл бұрын
I don't have a finance background (have CPA) but I want to transition into corporate finance. Would you suggest doing CFA or MFin from a top Canadian school?
@RyanOConnellCFA 2 жыл бұрын
In my opinion, the CFA is a bit overkill for corporate finance as less than 20% of the curriculum is relevant to corporate finance. You may be better off with a top Masters in Finance for this purpose but definitely do some deep research on the topic before making any decisions
@user-vg2jd5sd9t Жыл бұрын
Did the Basic Package (February 2024) from Kaplan Schweser change because it does not say that it includes the SchweserNotes only the Essential Package comes with the SchweserNotes.
@RyanOConnellCFA Жыл бұрын
If I'm reading their website correctly, it looks like they include the books in that package but they are only online (which stinks in my opinion because it is a lot easier to get distracted with e-books than paper books) It looks like you need to go all the way up to the premium package at $1,000 to get the physical books which seems like a rip off. I'd probably just print them at Office Depot or Staples myself
@andrewagita901 Жыл бұрын
Great video Ryan!, I currently work full time with lots of overtime. I want the pdf version, so do i have to buy the premium package?
@RyanOConnellCFA Жыл бұрын
Thank you Andrew! I take it you are referring to the Schweser Notes? I'm not sure how you can get the books in PDF format. I do not see it listed on their website
@gauravbhalla5849 6 ай бұрын
Thank you! Do you think going through CFAI reading material is important in addition to Mark classes? If yes how many times?Should one do Kaplan's notes instead of CFAI material as it is concise? I intend to do qbank, blue box q & EOCQ from CFAI. Thank you so much
@RyanOConnellCFA 6 ай бұрын
I don't recommend spending a ton of time reading the CFAI material as it is very lengthy and wordy! It is better to go with prep providers. Like I mentioned, Mark is great for videos and Schweser is great for readings. You can pick whichever medium you prefer. The one thing that is absolutely great in the CFAI textbooks though is the end of chapter questions which you should absolutely go through multiple times before test day. The CFAI Qbank online which you mentioned is also very great and should be gone through at least once
@gauravbhalla5849 6 ай бұрын
@RyanOConnellCFA Thanks Ryan for your prompt reply & insights! Really appreciate. Best Gaurav
@NomSwayzee 2 жыл бұрын
Very insightful video. Does it matter where I obtain my work experience in order to begin the CFA exams. this could be in bank or outside is a normal finance space?
@RyanOConnellCFA 2 жыл бұрын
From my experience and from everything I've heard, the CFA institute is not strict at all about work experience. As long as you are in a job somewhat related to finance, they should count it
@NomSwayzee 2 жыл бұрын
@@RyanOConnellCFA thank you, much appreciated.
@RyanOConnellCFA 2 жыл бұрын
@@NomSwayzee My pleasure!
@kemanetzidisstavros7463 2 жыл бұрын
Do you think that only going through preparation videos of Mark Meldrum is efficient to pass the exam? I mean not studying through books at all.. Does videos cover the whole curriculum eficiently? Thanks
@RyanOConnellCFA 2 жыл бұрын
Probably not enough to pass. You could watch all the videos and work like a thousand practice problems a long the way and have a pretty decent shot at passing
@kemanetzidisstavros7463 2 жыл бұрын
@@RyanOConnellCFA Sure, I meant theory from the videos and practice of course problems. If that's not enough, what addition could be rise?
@tomaszwojtynski9755 6 ай бұрын
Hi Ryan, i work within risk management at a bank and i'm really confused if i should go for the cfa or the frm as both seem very useful, i noticed that the frm curriculum does not cover a few important topics i've had at work, therefore i think maybe it is better to go for the cfa as it also covers risk management and many other topics, on the other hand, the frm seems less time consuming and profitable as well as the cfa..which one would you choose if you had to choose only one certification path?
@RyanOConnellCFA 6 ай бұрын
Hey there! Have you seen my video on this exact topic here? kzfaq.info/get/bejne/d9OneKiWrsecqps.html
@ianmurdoch6315 2 жыл бұрын
I have a commerce degree and minor in finance, is it too late to study for a November level 1 exam?
@RyanOConnellCFA 2 жыл бұрын
It will be tough but given your education in finance I think you should be alright. Do you work fulltime? You could still pass if you work fulltime but you wont have much freetime outside of studying and working
@RyanOConnellCFA 2 жыл бұрын
@@ianmurdoch6315 Sorry I'm late responding to this comment Ian. What did you end up deciding to do? I used Mark Meldrum's materials for level 2 and 3. They were very helpful
@akshayac6528 Жыл бұрын
Can you provide similar guidance for FRM
@RyanOConnellCFA Жыл бұрын
Akshaya, that is a great suggestion for a future video. I will look into doing a similar video on the FRM
@kmh6578 Жыл бұрын
Are all the readings as difficult and long as quant?
@RyanOConnellCFA Жыл бұрын
I think most of them are pretty in line with the difficulty of the quant section. I do not think the quant section is particularly long. Ethics and Financial Statement Analysis are much longer than the quant section
@prilly3250 Жыл бұрын
Hi Ryan, do you tutor or know a good tutor for CFA, L-1? Thank you!
@RyanOConnellCFA Жыл бұрын
Hello Prilly, I'm sorry to say that I do not and I'm not aware of anyone that does private tutoring for CFA Level 1
@erikgoodge7450 2 жыл бұрын
Great info! but holy crap I was be super anxious only finishing the material, even 1 month before the exam; and maybe I'm just a slow learner but I'm 6mos out and I've already done like 1,500 practice questions and I'm going to do 2-3x more before exam day haha
@RyanOConnellCFA 2 жыл бұрын
I have a feeling you will pass easily if you've already done 1500 questions a month out!
@ritikmandot8966 3 жыл бұрын
Hi Ryan, Do we get a formula sheet in exams?
@RyanOConnellCFA 3 жыл бұрын
You are not allowed to have a formula sheet. The memorization is what makes the CFA so challenging!
@ritikmandot8966 3 жыл бұрын
@@RyanOConnellCFA thanks !
@RyanOConnellCFA 3 жыл бұрын
@@ritikmandot8966 No problem, and good luck studying!
@sahilingale3280 3 жыл бұрын
Hey Ritik , are u preparing for level 1 as well? Would love to connect with you. Heres my mail - ingalesahil1999@gmail.com
@smplinvestmentsllc9915 3 жыл бұрын
Instead of Schweser for all prep I will take your advice and just buy their basic package. I already enjoy MM's videos so I will not spend the extra for the Schweser videos.
@RyanOConnellCFA 3 жыл бұрын
The Scheweser Notes are really good and, in my opinion, the most useful resources Schweser offers. I think Mark Meldrum's videos are definitely sufficient as well
@JK-me6py 11 ай бұрын
How to pass CFA ? Kiss goodbye to your social life thats how
@RyanOConnellCFA 11 ай бұрын
Haha pretty much. I lived in isolation for a few months for Level 2
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