Maximizing Your CFA Level 2 Exam Success: Expert Tips and Strategies
As the June 2019 CFA Level 2 exam approaches, many aspirants find themselves torn between relying on self-study or enrolling in a reputable coaching program. In this article, we delve into expert advice from finance professionals to provide you with the best strategies to excel. We will explore key preparation methods recommended by Maritza Atkins, a renowned CFO from KPMG in Louisville, USA.
5 Essential Tips for Preparing for the CFA Exam
According to Maritza Atkins in her e-book, FinanceManager888, the success of any CFA exam preparation lies in a structured and practical approach. Here are the top five tips that will help you maximize your chances of success.
1. Prepare According to the Weightage Guidelines
Key Advice: Focus on all topics equally, as each carries significant weight.
Expert Insight: The CFA exam clearly outlines the weightage for each topic, so it's crucial to distribute your study time accordingly. This ensures you cover all areas comprehensively and effectively. Striking a balance will not only optimize your performance but also enhance your overall understanding of the subject matter.
2. Allocate Time Even if You're Busy
Key Advice: Set aside at least one hour daily for studying, regardless of your other responsibilities.
Expert Insight: Even if you have a hectic day, prioritize your study time. Use the hour before bedtime or substitute it for another less important activity. This consistent effort, no matter how small, will yield significant benefits. 'A book before sleep' can be a powerful learning tool and help you retain information more effectively.
3. Use Up-to-Date Study Materials
Key Advice: Avoid outdated materials, as they pose a risk to your exam success.
Expert Insight: The CFA curriculum is subject to frequent updates, and using outdated materials can be detrimental to your preparation. Investing in current study materials is essential to ensure you have the most accurate and relevant information. While the cost may be high, the long-term benefits outweigh the initial expenditure.
4. Focus on Comprehension Over Memorization
Key Advice: Emphasize understanding rather than rote learning.
Expert Insight: Simply memorizing information can be counterproductive, as it often leads to information overload and diminishes long-term retention. Instead, focus on grasping the core concepts and explanations. This approach will not only aid in solving complex questions but also enhance your lasting understanding of the subject.
5. Prioritize Learning Over Scoring
Key Advice: Concentrate on studying and understanding each topic thoroughly rather than worrying about your marks.
Expert Insight: The goal is to learn and understand, not to achieve a specific score. By focusing on the material and its applications, you will be better prepared for the exam and set a solid foundation for future career success.
Conclusion
Effective preparation for the CFA Level 2 exam involves a combination of strategic planning, consistent effort, and a commitment to quality materials. By following the advice from financial professionals, you can build a strong foundation and increase your chances of success. Whether you opt for self-study or seek a coaching program, the key is to stay focused and dedicated to your preparation.