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All About CFA Level 1 Exam

CFA Level 1 Exam-Preparation Study Materials

CFA Level 1 Exam-Preparation Study Materials:- Here we are providing the complete details of study materials for CA IPCC Exam Preparation.

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cfa-level-1-exam

CFA Level 1 Exam- CFA Level 1 Textbooks

A comprehensive & authentic text book by Dr. R P Rustagi on derivatives for CFA, PDGM, M.com, MBA and other courses. This book has been specially prepared for the students taking derivatives paper at post-graduate courses in commerce and management. An attempt has been made to explain the basic concepts of derivatives in simple, lucid and easy to understand language. The book contains numerous examples and solved numerical illustrations, sufficient assignments, objective type questions, multiple choice questions and unsolved problems (with answers) have been provided at the end of different chapters.

A comprehensive text book by Dr. R P Rustagi on working capital management for CFA/M.com./PGDM/MBA and other courses concepts and theories of working capital management are presented in simple, lucid and non-mathematical fashion. The focal point is the analytical approach to management of working capital. Concepts are explained with number of illustrations and diagrams for clear understanding of the subject-matter. Detailed exposition of the latest developments taking place in relevant areas.

A comprehensive & authentic text book by Dr. R P Rustagi on management accounting for students of CFA/CS/CWA/MBA/PGDM/CA/M.com. This book has been prepared for the students taking management accounting paper at different under-graduate and post-graduate examinations conducted by different business schools and universities.

The book explains the concepts of management accounting in simple and easy to understand language. In its attempt to prepare the students for the examination, the book contains numerous examples and solved illustrations. Sufficient assignments and unsolved problems have been provided at the end of every chapter helping students to apply the concepts discussed in the chapter.

Recommended Read:- CFA Level 1 Textbooks

CFA Level 1 Exam- CFA Level 1 Videos

CFA Level 1 Videos

Chartered Financial Analyst (CFA) Level 1 By Amit and AnkurChartered Financial Analyst (CFA) Level 1 By Amit and Ankur

This Online Training Course on Chartered Financial Analyst® or CFA® Certification covers the syllabus prescribed by The CFA Institute for 2016 exams.

CFA Level 1 Videos- Amit(Faculty)

Amit, an IIM Ahmedabad graduate is an avid trainer in the finance space. Having cracked CA (with an all India 14th rank), FRM, CS, CFA exams all in first attempt and being an Aditya Birla Scholarship nominee as one of the all India CAT toppers, he knows what it takes. He regularly conducts study programs related to CFA, FRM, CA and has conducted courses/workshops for IIM Shillong, XLRI, Praxis,Great Lakes, SREI, IFCI, ICICI Bank, NSE, Kotak Securities etc. Amit has worked extensively in the banking and equity research areas before entering academics. He has been with Structured Products Group, ICICI Bank, where he played a key role in carrying out valuation assignments, building credit rating models and structuring transactions.

CFA Level 1 Videos- Ankur(Faculty)

Ankur has been a topper in his academic career. After graduating from Shri Ram College of Commerce (SRCC) where he secured 3rd rank, he completed his CA with All India Rank at all three levels of the course, a milestone rarely heard of in the 60 years of history of ICAI. To pursue his interest towards financial management, he enrolled for CFA and cleared all levels in first attempt. He is one of the empanelled faculties at NIBSCOM, a banker training institute by Reserve Bank of India. In addition to CFA, he has vast experience in teaching financial management and cost accounting to CA and CS students

Recommended Read:- CFA Level 1 Videos

CFA Level 1 Exam- CFA Level 1 Notes

CFA Level 1 Study Notes- Ethical and Professional Standards and Quantitative Methods

CFA Level 1 Exam Study Notes- Economics

CFA Level 1 Exam Study Notes- Equity and fixed income

CFA Level 1 Exam Study Notes- Financial Report Analysis

CFA Level 1 Exam Study Notes- CorporateFinance and Portfolio Management

CFA Level 1 Exam Study Notes- Derivative and Alternative Investments

Recommended Read:- CFA Level 1 Notes

CFA Level 1 Exam- CFA Level 1 Study Material

CFA Level 1 Study Material- 2016

Ethical and Professional Standards
Exam Weight: 15%
Quantitative Methods
Exam Weight: 12%

Economics
Exam Weight: 10%


Financial Reporting and Analysis
Exam Weight: 20%



Corporate Finance
Exam Weight: 7%
Portfolio Management
Exam Weight: 7%
Equity Investments
Exam Weight: 10%

Fixed Income
Exam Weight: 10%

Derivatives
Exam Weight: 5%
Alternative Investments
Exam Weight: 4%

Recommended Read:- CFA Level 1 Study Material

CFA Level 1 Exam- CFA Level 1 Preparation

A good preparation is a function of: time, knowledge, practice and commitment.

CFA Level 1 Preparation- Time

The earliest you start, the more time you’ll have to cover all the topics, from top to bottom. The more familiarized you are with the curriculum, the better, and for that you need time. Official statistics say that you need on average 300 hours for level I. If you take it in June, some people start studying in February. For me that’s not enough. I think that 6 months is ok. I would recommend you to take some time off, let’s say, two weeks before the exam (when possible). Try to finish the curriculum with one month in advance, so you can make exams and re-read some things. Don’t expect to remember everything only by reading. Do exercises!!

CFA Level 1 Preparation- Knowledge

It’s a long exam and they ask everything. Study well and know the curriculum, you’ll have 1,5 minutes in average to answer each question, you have to be quick. To be quick you will need practice and for that read the next point. Use Schweser’s study notes, and for some specific readings also read the official curriculum, they also offer video classes and online courses. Know the different topic weights for the exam, also know the exam format. Identify your strengths and weakness quickly, and improve/solve them.

CFA Level 1 Preparation- Practice

You are not going to pass the exam if you only read. The truth of the matter is that it is a practical exam. You will learn, remember and get the required exam rhythm by doing exercises. Of course that you have to memorize some theoretical concepts, but you don’t do that at the beginning (like ethics, and even in ethics you need to do a lot of exercises). You have to test yourself with exercises. The most important are the mock exam. If you get a package like Schweser you’ll have 6 mock exams. You should be able, at the end of your preparation, to do 3 mock exams with “real exam conditions”, that is: strictly by clock, two blocks of three hours, no materials, no google, no phone, with the approved calculator and pencils, no interruptions. The most similar to the real exam conditions. You should be getting more than 70% correct answers. If you need additional exercises, you could get also Schweser’s Qbank (but they are not as good as the mock exams).

CFA Level 1 Preparation- Commitment

Make a study plan and commit to it. Follow it and make the correct adjustments when necessary. Try to be honest on when you can study and for how many hours, be real on your estimates. It’s a long process and it is really easy to say once in a while “I’ll check that later”. And remember, don’t forget about your health, family and friends. Your social life will suffer, specially when the exam gets closer, but take care of it as well.

Recommended Read:- CFA Level 1 Preparation

CFA Level 1 Exam- CFA Level 1 Study Plan

For many years now we’ve been helping people in their preparations for the CFA exam and other financial exams. We have observed that there are 3 main reasons why people taking such an exam fail to pass it.

  • Problem with maths

First of all, though it may sound rather surprising, some people struggle with maths. It’s true not only of those who graduated from the university some time ago but also of students who currently attend their classes. This group constitutes even up to 30% of all CFA candidates. Mathematics used in the exam is not complicated. It suffices that you know how to transform formulas and how to do fractions. Those who can calculate and analyze in their memories are better off when it comes to the real exam. If you master your maths, you will be able to do even more than 50% of all calculations in your head, which will very often prove to be much quicker than if you used the calculator.

  • Not enough practice

Here’s the second reason of not being able to pass the exam. Most of the candidates solve too few exam-type questions before they actually take the exam. Even if you read the whole Curriculum and revise it, it will not suffice. What you need to do is to solve numerous questions throughout the whole process of learning for the exam. You have to develop the right habit from the very beginning – after you cover a certain topic, go ahead and check yourself. Do some tests that will allow you to assess your progress. You will see for yourself that there will be still some areas you will have to brush up. By doing different tests, you will also make yourself accustomed to the form of exam-type tests, which should make you feel more comfortable in the real exam. If all that you know about the exam is that the exam consists of 120 questions of the morning session and 120 questions of the afternoon session, you will not feel that comfortable, trust me. Imagine that you are a basketball player and you are to play a match and all you know is that you need to throw a ball into a basket but you have never tried to score a point before. To win this match, you will need a lot of good luck.

  • Lack of proper planning

The third and the last reason is the volume of the study material required in the exam. To cope with it, you need to work systematically and, as we know well, it is often a great challenge. That is why, we have come up with the idea to develop study plans that help people overcome this challenge.

Recommended Read:- CFA Level 1 Study Plan

CFA Level 1 Exam- CFA Level 1 Practice Paper

CFA Level 1 Practice Papers

Recommended Read:- CFA Level 1 Practice Paper

CFA Level 1 Exam- CFA Level 1 Revision Tips

CFA Level 1 Revision Tips – Resource Planning

  • If possible, take 1 week off work prior the exam. This can be a study leave allowed by your kind employer, or use your personal holiday allowance to do this. You need to be focused and not be further burdened by work stress and obligations especially the week before exam.
  • How many practice exams do you have? The goal is do 2 full papers a week, and leave 1 for the last week. The rest of the time would be filled with revisions or trying out practice questions in areas you’re weak at using question bank.

CFA Level 1 Revision Tips– Practice

  • Find a quiet area where you can focus without distraction. Let your room mate or family know that you’re taking an exam and should not be disturbed.
  • Try your first practice exam in a day, preferably timed as per exam condition – one morn          and afternoon session, 3 hours each. Have your lunch break in between, of course.Watch your time carefully while going as quickly and as accurately as you can. Stop strictly once the 3 hour time is up.

CFA Level 1 Revision Tips– Review

  • How did you feel that practice exam go? It’s important to note your thoughts on how it           went prior to grading the paper – this will help you better assess your own performance as you work through your practice exams.
  • Then, check your answers. How does this compare to your perception of how the paper         went? What did you think went wrong, and what could have been done better? Note these down        too.
  • Allocate time to review sections you don’t quite understand. Refer to your notes.
  • Doing, checking, revising a set of practice papers should take a full day. Your brain will feel like mashed potato after that – it’s OK! Don’t fret if the practice paper went awry, it’s learning     from the mistakes that counts. Make those mistakes now, and never repeat them in the actual           exam.
  • So, every week there will be 2 “hardcore” full days of attempting practice exams under timed conditions. Other non-practice-exam days are more flexible: you can use it to revise your notes, try more practice questions, or go through the areas you’re particular weak at (you know this from the data of your practice papers, or for full detail from thousands of data samples.
  • Simple as that. Every week you have your routine of doing 2 full practice papers, interspersed with revision, some practice questions and of course some fun.
  • Here is where the cycle of continuous improvement kicks in. Your constant hard work in filling and patching up the knowledge gaps would be reflected in higher scores and better time management. You are getting used to exam conditions, and with a bit of luck, you’ll be more aware of your exam time.

CFA Level Revision Tips– Repeat

  • Simple as that. Every week you have your routine of doing 2 full practice papers, interspersed with revision, some practice questions and of course some fun.
  • Here is where the cycle of continuous improvement kicks in. Your constant hard work in filling and patching up the knowledge gaps would be reflected in higher scores and better time management. You are getting used to exam conditions, and with a bit of luck, you’ll be more aware of your exam time.

CFA Level 1 Revision Tips– Rest

  • It’s not just about all work and no play. When the exam approaches, your health is a major influence on your exam performance, so make sure it’s in tip-top condition.
  • Try to achieve a balance here and sprinkle some relaxing activities in between such as listening to music, go for a run or having a nice meal with some friends and family to de-stress. You need this to not burn out, especially at this time of the preparation.
  • Getting enough sleep and maximising sleep quality is important too, especially when time is scarce. Finally, eat well, because our body and mind is akin to an Excel model – no matter how awesome they are, if you input rubbish, the output would be rubbish too.

Recommended Read:- CFA Level 1 Revision Tips

CFA Level 1 Exam- CFA Level 1 Exam Format

The CFA Level 1 syllabus focuses on the basic knowledge of the ten topic areas and simple analysis using investment tools. It is designed to introduce the candidate to the various concepts of the finance and investment world.

The topic areas covered in the CFA Level 1 syllabus and their weightage are as follows:

TopicPercentage of marksSub-topic
Financial reporting analysis20Financial reporting mechanics & Standards
Understanding income statements
Understanding balance sheet
Ethics15 Standards of professional conduct
Global Investment Performance standard
Quantitative analysis12Time value of money
 Discounted cash flow applications
 Statistical concepts and market returns
Fixed income analysis10Fixed income securities
Fixed income markets
Introduction to fixed income valuation
Equity Investment10Market organization and structure
Security market indices
Market efficiency
Economics10Demand & supply analysis
The Firm & market structures
Aggregate output, Prices, Economic growth
Corporate finance7Capital budgeting
Cost of capital
Portfolio management and wealth planning7Portfolio management
Basics of portfolio planning and construction
Derivatives5Derivatives market and instruments
Basics of derivative pricing and valuation
Alternative investment4Mutual funds
Real Estate
Total100

Recommended Read:- CFA Level 1 Exam Format

CFA Level 1 Exam- CFA Level 1 Exam Benefits

CFA Level 1 Benefits:- Affordable

The total cost of a CFA charter is variable depending on type of prep materials you get and how many exams you end up taking, but it probably will range from $2,500 to $8,500.

That’s still pretty cheap as far as professional qualifications go. The CFA charter is more about the time commitment. It’s definitely affordable.

CFA Level 1 Benefits:- Good Grounding in Finance

As you may know, the CFA is tough to pass. Really tough.

And there’s a reason – the material is very thorough, and very extensive. It’s not that difficult to understand – it’s retaining all the information all at once that often proves the challenge.

But it also means that if you succeed in obtaining the charter, you can be assured of a great, solid grounding in financial knowledge and expertise. The syllabus is also updated continually to account for recent innovations and events, so you’ll always be learning from the most recent experiences and discussions among industry experts.

CFA Level 1 Benefits:- Global Recognition

The CFA charter is one of the most recognized professional qualifications in finance in the world. The great thing about global recognition is that the CFA charterholder becomes more easily transferable across markets. If you were planning on moving to Asia, for example, employers in Asia would also recognize your CFA charter earned in Europe.

It’s the exact same qualification, and candidates are earning their charters all over the world. Today about 100,000 charterholders are working in 130 countries worldwide.

CFA Level 1 Benefits:- Don’t have to choose between CFA & MBA

It’s all about your personal goals and situation. If you’re looking for a qualification to enhance your career in finance or establish your finance credentials, the CFA is highly recommended. If you’re looking for a qualification to boost your career outside of finance, or looking to move across industries, an MBA might be a better bet.

If you had to choose just one.

At the end of the day, there are many people who end up obtaining both a CFA charter and an MBA. If you’re hell-bent on making your CV the best damn piece of paper the world has ever seen, by all means take both – it’s in no way a either-or situation.

CFA Level 1 Benefits:- Helps you get a job

The CFA charter is a great thing to add to your CV to boost your finance credentials. But let’s just get one thing clear – nothing on your CV ‘gets you a job’. And yes, this also applies to the CFA charter.

Nothing you can put on paper is a sure fire way of landing a job. Getting hired is a multi-stage process. Your CV and networking skills gets you the interview, and the interview is what gets you the job. No amount of CV padding is going to replace interview skills so you need to address all steps to successfully score the job you want.

CFA Level 1 Benefits:- Higher pay, On aggregate

Pay is a very tricky question to answer. There are numerous surveys on CFA member compensation, so you could go into the finer details of compensation of a typical CFA charterholder.

However there are some recent studies on comparing the effects of compensation of roles with and without the CFA charter – that is to say, studies that attempt to place a ‘monetary value’ on the CFA charter. The CFA Institute last covered this in their 2005 compensation survey, where the concluded that CFA charterholders’ median salary was 54% higher than non CFA charterholders (a median annual salary of $180,000 for charterholders vs $116,850 for non charterholders). This was a higher effect that even MBAs. But note that this was back in 2005, so make your own conclusions.

Ultimately, suffice to say that acquiring a CFA charter will open more opportunities in finance to you and make it easier for you to explore others. As a result you can expect your career to benefit from more flexibility and higher compensation compared to if you didn’t have a CFA charter.

Recommended Read:- CFA Level 1 Benefits

CFA Level 1 Exam- Order Top faculty CFA Level 1 video classes and books from CAKART.in for your exam preparation

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CAKART provides India’s top CFA Level 1 faculty video classes – online & in Pen Drive/ DVD – at very cost effective rates. Get CFA Level 1 Video classes and books from CAKART.in to do a great preparation for your exam.

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