Hi @sankalp , as per our beginner's guide to CFA: to register in the CFA program as a Level 1 candidate, you'll need to meet one of the following enrollment requirements:
So it seems the earliest you can register for L1 is when you are in your final year in July 2021. However, given the registration deadlines for Aug21, you probably can only make Nov21 Level 1.
You can apply and qualify for a L2 scholarship even if you're not a L1 scholarship recipient.
Hi @Kashish , I don't know if you've seen our analysis on that topic this week, here's the article that may help https://www.300hours.com/articles/cfa-level-1-registration-which-exam
In short, if you can make Dec 2020 by registering now and giving it a good shot, it's the best (last) chance for aiming for a fastest route to your CFA charter. This is if you pass Dec 2020's exam, you can still make L2 in June 2021, although that isn't the case for any 2021 exams. For any L1 2021 exams, the earliest L2 June exam candidates can register for is June 2022.
Let me know if you've further questions.
All depends on where you are in your studies, as well. Feb gives you more time and the exam will be online with less questions. This is all assuming the December test takes place - could be as many 173k taking L1 with June cancelled. Thats a lot to get figured out with Covid, etc.
Hi @theseeker123 , due to COVID-19, CFA Institute has frozen the curriculum for 2020-2021 exams, meaning that 2021 exams will feature 2020 curriculum materials (no updates or changes this year).
So you can register now for either Aug or Nov 2021 L1 and have the materials to start studying.
Haven't heard about Prepnuggets. Sounds delicious.
Seriously though, had a quick look and Prepnuggets is more expensive than Mark Meldrum or IFT, and they're way more established and proven. IFT even has a free basic tier.
Kaplan Schweser is fine, everyone uses them. I would drop Prepnuggets and maybe try the free IFT package first if money is tight.
L3 is definitely built on a foundation of L1 and L2 knowledge. You won't need to know the material inside out but you'll need to have a good foundation and not have forgotten everything.
Kaplan Schweser used to include a 'recap book' with their materials, not sure if they still do. But if you need an L1 and L2 refresher the Secret Sauce books might be a good option.
In my opinion, the one thing that's extremely important from Lvl 1 that flows into Lvl 3 is time value of money. You better know how to solve all those PV, FV, annuity, etc questions. On lvl 3, there's always a huge essay question that's worth at least 30% that has to do with some sort of retirement planning. I find it extremely easy to mess up on timelines simply by not knowing whether something happens at the beginning of the year or the end of the year, because the language can be vague. So make sure you know how to solve complex TVM questions.
You can use A = 2000*12 = 24000 as A, but your r then has to be 6% rather than 6%/12.
The answer uses monthly payments because r = 6%/12 = monthly discount rate. They can also use annual payments to calculate the same number as long as the discount rate is annual.
So PV = Annual payments / Annual discount rate = Monthly payments / Monthly discount rate
= £24,000 / 0.06 = £2,000 / 0.005
Hope that helps!
Hey @archenoweth2 , yes you certainly can. I did this using Kaplan only, and didn't really refer to CFA institute curriculum at all.
That said, the end of chapter (EOC) questions can be useful to practice on after completing each reading, just to make sure you are understanding the key points of each chapter. It's free practice for materials you've already paid for - so it's something we advise doing for practice.
Hope this helps.