Preparing for the CFA exam could be one of the most challenging times of your life. If you want to pass, you'll need to work most of your time studying flashcards, mock exams, and doing other prep activities.
Whether you’re in the beginning or advanced stages of your career, becoming a charterholder is worth every minute of the time spent studying, practicing, worrying, and waiting for the results.
Although it may seem overwhelming now, everything you're learning now is a stepping stone to becoming the respected finance expert you're meant to be.
But hey, if you need any help surviving this process, check out these suggestions!
There are a lot of distractions in the world, everything is vying for your attention. Social media, television, friends, the dishes in the sink, the flashcards you need to run through, they’re all competing for your time.
To pass the CFA exam, you must focus and keep your attention on your goal, even when things get tough. Prioritizing is critical, so do your best to limit distractions. More specifically, when you are studying for the CFA exam, put away your phone or other devices that might pull your attention away from any study task at hand. Take all of your focus to your study time. Find the best study method that works for you.
The most important thing is to make sure you prepare well for the exam, but there’s no rule about how long you need to spend preparing for it.
A great way to explain the best approach for working towards the CFA Charter is by using the phrase, "Attitude Determines the Outcome". It's just not possible to pass the CFA exam by cramming and doing a lot of studying. So it’s very important to be thorough when preparing for each exam.
Obviously, it's not realistic to be excited every time you sit down and start studying. There will be times when you can’t even look at Ethics, or Corporate Issuers, or Derivatives. But remember that you're not studying to pass a test; you're studying to become a trustworthy and credible expert in your field.
Of course, optimism helps! Why, you ask? Because everything you do and accomplish will lead you to achieving one of the most respected professional certifications in the finance and investment management industry. That's a great why, if you ask me.
You’ll spend most of your time studying, but you need to spend time on fun activities, relax, and stay healthy. Be aware of the mental, physical, and emotional challenges that accompany passing the CFA exam, but do not neglect your mental, physical, and emotional health. Learn to balance yourself and study your material more effectively to get the most out of your time spent learning. You will stay motivated and study better in the long run.
Preparing for the CFA exam means significant effort and a great deal of time. The best preparation for your CFA exam requires that you commit yourself to studying for a reasonable period.
However, the CFA exam process is only a chapter in your story, not the entire book.
The hardest part of passing the CFA exam is determination and perseverance. If you can maintain a healthy lifestyle, balance your life, and keep your focus, you can set yourself up for success on the CFA exam.