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CFA Level 1 - Study Material

tmcd123tmcd123 Pre-CFAPosts: 2 New Hire

Hi - I recently registered for the CFA exam L1 for February 2021. I purchased the Kaplan material and thought it would be all inclusive. However, as I'm progressing and reading forums/ question boards, I'm questioning which other material I should supplement with the Kaplan books & practice exams. My biggest fear would be to have blinders on until a few weeks before the exam and just then learn there was all this extra material that I should have been reviewing.

  • Do most candidates buy and read through the Standards of Practice book for the Ethics section?
  • Do most candidates read through the CFAi material, even if you're studying the material through another source (i.e Kaplan)? My understanding was Kaplan breaks down the dense CFAi material into condensed chapters for each of the readings?
  • Is there any other material successful candidates have found helpful/ most time effective in studying?
TylerTX2000

Answers

  • Hi @tmcd123, I'm not sure what others are saying, but Kaplan materials are all inclusive, i.e. can be viewed as a replacement/summary of the curriculum. I can understand your concern though if otherwise.

    As for your other questions:

    • I'm not sure for the general candidate population, I didn't buy that. I just used third party study material, and for tricky sections of Ethics which I need more understanding/examples, I check the Ethics section of the curriculum to supplement. The curriculum is great for end-of-chapter questions to practice and test your understanding before you move on to the next reading.
    • I don't think so. I doubt you'll have much time going through two sources. Your time is better spent doing practice questions, and referring to relevant study materials as needed to refresh your understanding. Yes your understanding is correct that Kaplan's stuff essentially summarizes the CFA curriculum.
    • again, can't speak for the general candidate population as everyone has different learning styles, I found practice exams useful in solidifying concepts in my mind (especially when getting them wrong). So doing up to 6 (preferably timed) practice papers would be useful in your preparations after reading the notes.
  • TylerTX2000TylerTX2000 HoustonPosts: 3 Associate

    I did look at some of the MM videos on areas I was not as familiar with - they are not too bad. 

    I would supplement it with UWorlds Qbank that is truly awesome - and unique. This is what I am using as well for Feb at least. Such a different way to learn the material - I feel like a prep company is finally in the 21st Century. I'm done with watching long boring lectures - I'd rather learn by doing! Thats my opinion at least. Good luck! Here is their review on 300hours and they have a Free 90-day Full access, as well through 300Hours.  Good luck. 

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