Before deciding whether or not to become a licensed CFA®, you must be willing to work hundreds of hours. There are many benefits associated with becoming a CFA® The charterholder is financial. But, remember: People in the field know that passing all three levels of the CFA® Examination is an uned achievement, so your dedicated efforts do not go unnoticed.
But how long will it take?
CFA® Exam structure affects timing
The CFA® exam has three levels. Level I is offered in late fall and late spring, and levels II and III are offered once a year in late spring. You must pass each level before moving on to the next, and the passing stats are horrendous. So, if you fail a test, you have to wait a significant amount of time before trying again.
That’s about a 50/50 chance of passing for each level of the exam. This means that even in the most optimistic scenario, less than 30% of those who started at Level I pass Level III. If that’s not enough to scare some people off, the time and hard work required can be intimidating.
How long does it actually take?
Studying for CFA® Testing requires sacrifice and hundreds of hours of work. On average, each level requires about 300 hours of study to pass, for a total of 900 hours for the entire exam. This comes down to around 15 hours per week, especially since you are working full time while studying.
CFA® The institute says it takes the average candidate four years to finally become a licensed CFA®. However, some people say that it took them seven years to finally get through all three levels. On the other hand, the most efficient CFA ®Candidates cleared three exams in 18 months. So the time it takes to complete the process depends on how well you stick to your study schedule.
Due to the low pass rate, C.F.A® Candidates should be prepared for the possibility of failure. This can be discouraging, especially since failure prolongs the process. That’s why it’s important to stick to the same rigorous study schedule for all three levels—if you pass, you’ll be rewarded!
CFA® Exam Study Schedule
Creating a study plan and sticking to it is the most important part of studying for the CFA® Test. This will help keep the whole process short. Experiment with different study styles and schedules (and music!) until you find one that works best for your lifestyle and needs.
For example, if you work full time, do most of your studying on weekends with short study periods during the week. It is also a good idea to finish all the reading material a month before the exam so that you have plenty of time for practice exams. Many have passed CFA® Exam said that the practice tests were an important part of their success as they were able to see the areas where they needed to improve.
Tips to get your CFA® quickly
There are a few things you can do to shorten the time it takes to earn that CFA® certificate. It can be difficult to stick to the same weekly study schedule for 4+ months for each exam, but if you don’t put in the time to study, you won’t pass. Discipline is an obvious necessity, but many people try and skip their study schedule and ultimately fail (see CFA® pass rate).
Each CFA has a lot of reading material® The exam covers, so make sure you don’t skim. You may think some sections are unimportant or will not be heavy in the exam. You’ll realize that skimming was a mistake once you get your practice tests back. Again, make sure you start studying at an earlier start date to have more time to complete your practice tests. Practice tests are, in my opinion, the most beneficial part of the study process, so it’s a good idea to make sure you have plenty of time to spend on these.
The biggest challenge of the whole process is that you are doing it alone. You don’t have a classroom or a professor to ask direct questions to, which can make it hard to stay motivated. That’s why it’s helpful to reach out to others who know what it’s like to study for the CFA® Tests for help and support in some subjects. Heck, just shoot me a message and I’ll send some words of inspiration!
If you can stay on track with your study schedule and give it your all, you should be able to pass all three levels of the CFA.® and improve your career path. Your commitment and desire to achieve something as difficult as the CFA exam will be greatly rewarded. If you’re ready to take the first step to success, check out the best CFA review courses today and find the perfect exam preparation for you!
