Many candidates organize themselves in CFA study groups and study together, which has many positive aspects.
Group studying is a common approach used in almost all educational systems around the world. From school to college, students organize themselves in groups for homework and exam preparation. The reason behind the activity is that a group of people is smarter and more productive than an individual.
If you study in a group you will solve problems more efficiently. Sometimes you will contribute to the group and at times the group will clarify certain topics or queries you may have. Teamwork makes the whole process less stressful and more pleasant because you meet people with similar interests and backgrounds who will motivate you to achieve common goals.
A very important aspect of studying is time management. If someone in the team takes care about the progress of the CFA study group, the group can leverage on its teamwork and complete the process on time. It is advisable that the entire group has a single agenda and an appointed team member to monitor the progress of the group. This team member should use various time management tools like TimePrep to ensure that the team’s goals are met in a timely manner.
While a team approach to studying can yield numerous positive effects you should refrain from excessive socialising, talking about non CFA topics or just networking. The common goal in fact will only help you in staying focused and being sensitive to other team members’ aspirations. You will be encouraged to come prepared for the study sessions and help the group stay on schedule.
In order to successfully prepare for the CFA exam, we would suggest the following:
- Find a small team of candidates with similar motivation, background and same level of preparedness (you can try on Studypal or other known channels like 300 hours, Linkedin, Analyst forum and similar)
- Organize either on-line or physical space for study sessions.
- Never meet without an agenda – discussion about certain topics (pages or sections/practice problems).
- Dedicate one person for process/time management in order to be both effective and efficient.
- Ensure the group discipline and manage time carefully.