You've decided to study for the CFA exam, and now it's time to choose a course.
Why Should You Choose A Prep Course?
To be certified, candidates must pass each level in succession. This means you can't attempt the level II exam UNLESS you've passed level I. Each exam requires approximately 300 hours of preparation. To make it even harder, there is an immense amount of material that candidates are expecter to master and ONLY a portion of it appears for the final exam.
One can only imagine how daunting this is. Here's where a CFA exam prep provider comes in! CFA prep providers help candidates develop skills that'll enable them to master the exam in one go. However, choosing a prep provider that is best for you varies according to what you're looking for - whether it's more focused on technical aspects, if it spends more time explaining concepts or if its relatively inexpensive (they can get pretty pricey).
Which One Is The Prep Course For You?
Choosing a CFA course to prepare for the multi-level exam is challenging, but taking into account the following criteria will make it easier:
1. Ask Your Friends/Family For Recommendations
If you're lucky enough to have people in your life who have undertaken any courses from prep providers, then ask them! Don't hesitate at all because this is essentially one of the best ways to obtain insight into the quality of programs. You'll get what they liked and didn't like based on their own personal experience.
2. Don't Just Settle For Any Instructor
Most instructors of CFA exams offer a great deal of useful feedback, although they have varying degrees of expertise and experience in this subject area. You need to find an educator who applies teaching strategies that help students learn large volumes of material thoroughly and efficiently.
3. Provider's Knowledge
Experience is a great help when setting up a workable prep course. A developer's knowledge of exam history and the relevant exam materials will help them prepare the most effective CFA exam prep course. Whether the company is big or small, the provider showcasing an extensive depth of knowledge is indicative of successful placements and aids. Thus, we recommend to align yourself with a provider you trust and not one that'll see you as one of the masses.
4. Practice Makes Perfect
There’s no better way to retain new information than to answer questions about it. Mock exams, taken throughout the course of your prep program, will help you to get to know your information better and to practice recalling it on exam day.
5. Formats Are Important Too!
A good CFA exam prep course is one that offers flexibility in learning, like live streaming or self-paced learning modules with digital materials. These courses help busy professionals prepare for the CFA exam.
When it comes to choosing a prep provider, remember this rule: The more preparation methods there are, the more there are to choose from. Choose the one that is best for you. The right prep provider should do the following for you: Provide access to all the exam materials so that you can study at your own pace. Provide clear instructions and notes so that you can review with ease. Allow you to access the material through any device, even if that means multiple devices (for example, an iPhone and an iPad). As far as content goes, make sure that the prep provider gives you the most updated information and that you get the newest exam changes.