Just a few weeks remain and CFA study burnout can be your biggest challenge. Use these strategies to stay strong.
There’s just three weeks left to the June 2016 CFA exam and you’re probably hitting the books pretty hard trying to get those last few points. After months of studying, many candidates face a critical challenge in these last few weeks. Whether you get tired of studying or just become less efficient, you need a plan to confront CFA study burnout.
Burnout can hit in one of two ways. The most obvious kind of burnout is when you just get tired of studying, can’t bring yourself to even look at the CFA curriculum and stop studying. You either stop studying altogether or procrastinate studying so much that you barely put in a few hours each week.
The other kind of burnout is just as bad, maybe worse. In this kind of burnout, you just zone out while you’re studying. You still put in the hours studying for the exam but it becomes like driving to work, you get to work but honestly can’t remember much about the trip. Not only are you still spending hours on the curriculum but it’s so ineffective that it’s like not studying at all.
Don’t want to throw you off your plan but want to offer an alternative in case you feel tired
Study Better by Turning Your Plan on its Head
I don’t want to throw you off your study plan so late in the game. If you feel like you’re still studying effectively and retaining the material, go ahead and keep to your schedule.
Use your CFA mock exam or test questions as a guide. If you are still doing progressively better every time you do practice problems after studying, then your studying is still paying off. If you’re getting less out of your CFA study sessions, you might want to check out some of these ideas to energize your studying.
One of the best ways to change up your studying is to use different media. This means using flash cards, study notes, audio and video in your studying. You can usually find some good YouTube videos to walk you through the bigger topics in the curriculum. These usually won’t substitute for a programmed course but can be a good way to break up the monotony and answer a few questions on difficult subjects.
Try going through a different process when you study. Do you always start out reading the curriculum then taking a few practice problems? Try starting off with practice problems or working through some flash cards. As a bonus, starting off with questions before you review the material will force you to reach deeper into your memory for the material.
We looked at some of the best places to study for the CFA in a recent post as well as what makes a great study place. Even the best location can get stale after a while and changing up your study spot can help to shake you out of a rut. Parks, libraries and coffee shops top the list of best places to study so try a few of these to see which helps to change up your routine.
If you’ve been really hitting one topic area in particular, you might try focusing on a few others for a few days. You still need to make sure you’re ready for the most important topics like financial statement analysis, ethics and equity investments but try not to overdo it. I spent so much time over the last few weeks studying equity investments for the Level II CFA exam that I caught myself skimming over important areas.
The idea is just to change up your studying to shock your brain into paying attention. The problem behind burnout is that you’ve done the same thing so many times that your brain is bored with the routine. Anything you can do to change that and make your new study plan unique should help to shake your brain out of its daze.
‘til next time, happy studyin’
Joseph Hogue, CFA