The Ultimate Guide to the CFA Exam

I talked to a candidate the other day that was a big fan of the Finquiz blog but had one complaint…there is just so much posted that it’s difficult for new readers to look at everything.
I heard him loud and clear and decided to post this roundup of some of the best posts we’ve ever written on the blog. Some of the posts are specific to different levels of the exams but most will apply to all candidates. The posts cover the range of things you’ll need to be successful on the exams from basic strategy to general how-to and motivational.

Where to Start

Our basic strategy posts are always a good start when first coming to the blog. I usually update these posts every couple of years but the basic strategy for passing each of the exams does not change much. I posted a basic strategy for passing the exams in general that is a great overview to get you started.
For passing specific levels of the CFA exams, check out our strategy on passing:

Our most popular posts over the last year have been those detailing the changes to the 2015 CFA curriculum. This year, the curriculum has undergone the most drastic changes I’ve ever seen in more than six years. Not only have readings been added, deleted and modified but the topic weights in the exams have changed. Different topic weights mean a different study strategy because you’re more likely to see questions from different topics than you saw in previous years.
Check out the changes to the 2015 CFA Level I Curriculum
Check out the changes to the 2015 CFA Level II Curriculum
Check out the changes to the 2015 CFA Level III Curriculum

Most Common Candidate Questions

There are some questions that every candidate has and they are the most often we get here at FinQuiz. Below are some of the posts I’ve written to address your most common questions about the CFA.
Probably the most popular question surrounds the idea of using the CFA designation to get a job. A lot of candidates incorrectly assume that the exams and the designation is a golden ticket to any job they want. Nearly 11,000 candidates have viewed our post, “I’ve passed the Level I CFA Program Exam, Why don’t I have a job?” You can certainly leverage your CFA progress into getting a job and it will help but you have to follow traditional steps like networking and outreach.
Candidates are always asking which CFA exam is the most difficult. I fully understand the question since I asked it myself but does it really matter? You have to take all three exams anyway but I guess it helps to know what is coming in each exam. For me, it was the second exam but many have more difficulty with the third exam.
After the exams each year, I often get a lot of questions about the passing score. The CFA Institute does not publish the minimum passing score needed but there are guidelines you can use. There is also one key trick that I use to work my scores into a personalized study strategy.

General Advice on How to Pass the Exams

Many of our most popular posts are those that offer general advice that covers passing all three exams. Many of these posts address emotional and mental roadblocks to passing the CFA exams.
I showed candidates how to remember 90% of what they studied in one of our very first posts, viewed by nearly 8,000 candidates. Active learning techniques are not as easy as passively reading the curriculum but they are an absolute must for your exam prep. Another post on active learning included some specific action steps that you can follow to pass the exams.
Read this if you absolutely must pass the CFA exams! This was a short post but included four of the most important points to passing the exams and sums up the key things to remember.
Another of our first posts revealed the person that is most likely to keep you from passing the CFA exams. Resist the temptation to second-guess your commitment to being a better professional and follow these steps to stay on the right path.
I offered a tortoise and hare study plan for passing the exams a couple of years ago and candidates really appreciated the two different perspectives. I prefer the slow-and-steady approach to studying but some like a short-and-sweet approach.

Motivational

Some of the posts that I have had the most fun writing are those where I talk directly to candidates about the exams and help them get through this tough challenge.
Having passed the CFA Level III exam more than three years ago, there are things I wish I could do differently and things I wish I knew before starting the CFA exams.
Easily my favorite post was written when proctoring a mock exam in 2012. I realized that there is an overlooked benefit to the CFA exams that most people don’t realize. The CFA exams are truly the great equalizer in our industry and give everyone the opportunity to succeed.
If you’re looking for a specific topic or idea, remember that you can use the search box at the top-right of the screen to find posts. Check out the Popular Posts on the right-side of the screen for more of our most recommended articles.
Just a few weeks until the 2015 CFA Exam Study Season kicks into full gear, get ready!
‘til next time, happy studyin’
Joseph Hogue, CFA

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