The crucial step in preparing your learning process is proper time management, i.e. learning process planning. Even if you have an extraordinary background, you need to review the most important concepts in order to be efficient on the exam and quickly apply all the necessary formulas and concepts. On the other hand, if you don’t have the background, you will have to spend substantial amount of time studying for the exam.
Our advice is to calculate certain key performance indicators, such as: a number of pages you can read in an hour, time you spend on an average end of chapter problem, etc. Of course, you can read some readings quick and you will spend significantly more time on others, but on average, at the end of the day, you will be able to read certain number of pages per hour.
Once you calculate an average number of pages you can read per hour, you simply have to count the number of pages you have to read (recommended by sections) so you can easily calculate the time in hours you need for the preparation. Make sure that you take into account that you will spend certain time solving a number of practice problems and revision cheat sheets (with formulas and key concepts).
Once you determine the time needed for preparation, you should examine your average week’s routine and determine the time you can dedicate studying for the CFA® exam. In addition, determine how much time you can spend learning during the weekend and finally, when/if you will take day offs for learning.
Once you determine all the necessary key performance indicators, you can easily approximate how many ordinary weeks you need to complete the learning process.
Thereafter, you just have to stick to the agenda, which is definitely the most demanding task. But there is also a way out. Naturally, you will have to skip some of the learning sessions in your usual agenda. Discipline is a key to success! Keep that in mind during the process and you will be motivated to complete the process and pass the exam.
The major help in the study planning and organization is TimePrep iPhone and iPad app. The app takes into account all the possible study elements you can choose and your study preferences. Once you select the study preferences (books, number of practice problems, indication of study speed, study period, etc) the app returns the number of study hours you need to put in a usual week in order to complete the set agenda, then you can select time in a calendar, put some exceptions, etc.. The app gives also convenient rescheduling option which gives you control over the process in case you miss the study session.
Find out more details about TimePrep for CFA exam apps here!