Need some Opinions on CFA

Jobs & Careers
1563
I am trying to download the L1 videos form the link given in this thread. But download struck when it reaches 15 MB.:new_let_it_all_out:

All those who have successfully downloaded the videos please let me know if any mirror links available for same.
Is these schweser 2008 videos or the old one????

its just one video for Corporate finance and not the entire syllabus.
not sure which version it is and about the mirrors
1564
This is one of my friend who is working with E&Y; (CA Topper) have shared this valuable tips for appearing for CFA. I thought i shld share with u all.

regarding CFA exams, I would say, from my exp., what does matter is the preparation you do 2-3 months prior to the exam and not just on the exam days.
In my case, I started studying 4 months prior to the exam and was in a comfortable position 1 month prior to the exam by completing the course almost 2-2.5 times. Then in the last month I did for 2 more times and went thru the exam. In fact I didn't get much time to study at all in the last month rather as the exams were coming close I was having less and less time for studies. Even no preparation leave from the office, not a single day off....but what helped me is the preparation I did in advance. Because most of the course is numerical/arithmetical, the time spent 2-3 months advance helps a lot at the exam times.
Then the first reading takes a hale lot of time and don't get disturbed with it, let it take its time, do it properly, the more time it takes the more you would be confident in your next revisions and it leads to better ultimate result. Compared to CA, I noted here that if you do your first revs properly, the later reviews don't take any time. Then the course content is really much lesser than what we have already faced in CA and therefore would not be of much problem.
Regarding questions in the exam, they would be almost on the same pattern as given in Stalla/Schweser books. Therefore I reckon doing the study mats thoroughly.
The most important factor is how do you plan to spend your 6 hrs. in the exam....there are diff topics in the exam and how you want to go abt those. I mean in what order. Probably you may like to start with Statistics then derivatives, portfolio mgt, economics, cap. markets, ethics and fin statement analysis in the end.
This is the order I had followed considering my preparations and expertise. Probably you may decide the order based on your scores in practice exams and see what works best for you.
Then regarding books, I reckon stalla, you have to just arrange for the books and don't buy anything else like CD/flash cards etc. The new mat should cost you almost INR 16-17K and if you find something for photocopy, nothing like it..In india, particularly in bombay, you would see lots of guys recommending schweser, but don't go for it, go for stalla, I have seen both the materials and stalla is really better..but I would recommend doing the practice exams both of stalla and schweser, this would be of help in gaining confidence in attending the exams and probably would give you unbiased exam scores, which could be the case when you study from the same mat and also assess your progress based on the pratice exams given in that mat.
finally, CFA institute recommends studies of 250 hrs for level 1 exams and I believe this is more or less ok. Probably you may start with a target studies of 350 hrs. but this is never a criteria of success and just gives an idea of the amt of efforts required for clearing the exam. The hrs of study depend on the indivisual habits and study approach followed. But I would strongly recommend you to complete the course at least 3 times before you sit for the exam. That is the key to success.
1565
1) it will be too difficult to prepare for L2 in just 5-6 months that you will get in between. so take L2 in 2010 only.
2)however I'd suggest that you take L1 in december cause you might be busy with your internship in summers and CFA will also help you in getting a better internship.
3) most of us don't study until its exam time. so clearing L1 in december will leave you with 1 1/2 years for Level II. and L I is comparatively easy.

I strongly disagree

L1 in Dec 08-L2 in June 09 -L3 in June 10 should be the ideal calender.

1. arjchawla is doing MBA, so most of the basics of L1 will overlap with core finance courses. So he need to prepare a few topics like ethics,bonds on his own. Also his extra finance knowledge gained through L1 studies will come handy in summer interviews.
2. If he clears L2 in June 09, he gets an additional qualification when he sits for placements in 2010.
Hence more shortlists
If he gives L2 in June 10, he will miss this advantage as he would have cleared only L1, which is as good as MBA Finance and no special priviledge. But L2 is certainly a big thing !

All in all -->
L1 in Dec 08-L2 in June 09 -L3 in June 10 should be the ideal calender.
1566

Delhi HC permits CFA exams in India

Delhi HC permits CFA exams in India

1567

what a mess again !!!!!!!!!!
almost similar to what happen last year !!!!!!!!!!
I dont know if CFA ppl can adjust the logistics within less than two weeks ?????

I think court likes to play with the students and likes to test their mental toughness apart from what CFA exam is going to test...........
Is this an additional condition from AICTE for letting CFA to conduct test in india that mental toughness of student is also to be tested???? dont they think that CFA exam is doing that at par???? 😃

1568
Delhi HC permits CFA exams in India

Delhi HC permits CFA exams in India


should not make a difference to Jun 08 candidates.. ppl must've already worked out their travel plans and admit cards are already out!

it'd just affect those who intend to take the exam in Dec 08
1570

Hey,


Delhi HC permits CFA exams in India


That is real good news.... now we can give L1 in Dec in India.... would save a lot of money....

But in the order that have written that institute needs to take permisssion from the court before going ahead with the December exams... but seems it would be possible to give exam in India....

should not make a difference to Jun 08 candidates.. ppl must've already worked out their travel plans and admit cards are already out!

it'd just affect those who intend to take the exam in Dec 08
1571

It's just an interim order and the final order is still awaited, this don't say that the dec exams are allowed to be conducted in India, ppl sitting for Dec exam will have to wait for their turn. A similar situation happened in May 31, 2007 wherein high court allowed CFA exam in India for June 03 but such a short notice couldn't help and the dec. exam was not given approval, so ppl had to go outside to take the test. Let's wait and watch what CFA institute has to say.

Hey,


Delhi HC permits CFA exams in India


That is real good news.... now we can give L1 in Dec in India.... would save a lot of money....

But in the order that have written that institute needs to take permisssion from the court before going ahead with the December exams... but seems it would be possible to give exam in India....
1572

Hey thats what i wrote buddy...

That institute (CFA) needs to take permission from the court before going ahead with the next exam.....

But at least now hope is there as this is major interim judgement given in favour of US CFA which would make it future path clear...


rachitjain_18 Says
It's just an interim order and the final order is still awaited, this don't say that the dec exams are allowed to be conducted in India, ppl sitting for Dec exam will have to wait for their turn. A similar situation happened in May 31, 2007 wherein high court allowed CFA exam in India for June 03 but such a short notice couldn't help and the dec. exam was not given approval, so ppl had to go outside to take the test. Let's wait and watch what CFA institute has to say.
1573
I strongly disagree

L1 in Dec 08-L2 in June 09 -L3 in June 10 should be the ideal calender.

1. arjchawla is doing MBA, so most of the basics of L1 will overlap with core finance courses. So he need to prepare a few topics like ethics,bonds on his own. Also his extra finance knowledge gained through L1 studies will come handy in summer interviews.
2. If he clears L2 in June 09, he gets an additional qualification when he sits for placements in 2010.
Hence more shortlists
If he gives L2 in June 10, he will miss this advantage as he would have cleared only L1, which is as good as MBA Finance and no special priviledge. But L2 is certainly a big thing !

All in all -->
L1 in Dec 08-L2 in June 09 -L3 in June 10 should be the ideal calender.


if he can handle L2 material in the given time frame along with the second semester of his mba, and is willing not to focus on his internship (which from my perspective brings ppos and things like that) then what you say is absolutely correct. he should do as you suggest.

but 600$ is big amount for students, aint it? especially when you are spending so much on mba at the same time. you have to be sure that you pass it.

and after clearing L2 what does he do? start preparing for L3, without any experience at all? (i am not criticizing, this is really a question)

can someone here please throw some light on the importance of experience at the time of taking exams? can we just clear all the three exams without any experience and then work after that? as in how practical and advisable is it?
isnt it like too much rush?
1574
shalabhkumar Says
In my case, I started studying 4 months prior to the exam and was in a comfortable position 1 month prior to the exam by completing the course almost 2-2.5 times. Then in the last month I did for 2 more times and went thru the exam. Because most of the course is numerical/arithmetical, the time spent 2-3 months advance helps a lot at the exam times.fBut I would strongly recommend you to complete the course at least 3 times before you sit for the exam. That is the key to success.

he is not human:new_shocked:
all in all he did the syllabus 4-4.5 times

he is GOD. i've seen and heard of ppl who can cram and work hard and it comes naturally to them, of all of such species that i have seen yet, going by the way he has written it and the way he strongly recommends doing the syllabus 3 times to mere souls like us, HE IS GOD

now that i have overcome my shock and awe, i must say that i agree with him. As a candidate preparing for L1 in june, i feel revision is the key, however number of times.
Also, i have found that solving questions also is very important. i am using Schweser Pro Q bank 2008. its available on rapidshare at: RapidShare: 1-Click Webhosting (i believe the link has been shared earlier also) this software is really amazing i must say. i really like the part where you can tick the parts of syllabus that you have done and then feel happy after seeing so many ticks even if you really haven't studied those topics:D it satisfies my big fat ego.
jokes apart, its a good idea to practice questions
1575
Hi...
I wud be enrolling for CFA this week and have an important query...

I would be starting with my MBA next month and have planned to take CFA xams along with it.The query is regarding the scheduling of cfa xams...

I planned to take Level1 in Dec'08 and Level2 in June'09...i mite sound overconfi but this is what i aim for....
After talking to few i have been adviced to keep a year gap btw level1 and 2 as level 2 is very difficult and would take a lot of time to prepare.this means i shud take level2 in june'10 rather than june'09 and shud take level 1 in june'09 rather than dec'08 as it will give me enough time for both the levels.

Please advice me what shud be my course of action...
1. Level1 in Dec'08 and Level2 in June'09...this was my initial plan i am wish to stick to it.
2. Level1 in june'09 and level2 in june'10..this is what i have been adviced for...and sounds practical

Seniors and expert of the same domain...please advice me so that i can plan accordingly.

My background-Economic Honors


Hi

Firstly,thank you everyone for taking out time n sharing your views and your experience...it helped me to get a broader picture.

Secondly, one thing i have concluded from the discussion above is that i shud go for L1 in dec08

About L2 which is on a tougher side,,i would surely like to make an attempt in june09 depending on my L1 preps,experience and time i get along with my mba studies.

Thanks again
1576

Can we change the exam venue ??

1577
worthless Says
Can we change the exam venue ??

yes you can....i remember reading at their website....but it has to be done pretty early..there is last date for that too....check the website....
1578

For June,08 candidates,
Got this detail from CFA website (CFA Institute in India)

CFA Institute in India
26 May Update

We have learned that a Division Bench of the Delhi High Court has stayed the All India Council for Technical Education order against CFA Institute. This means that we are permitted to give the CFA examination at centers in India.

As there are just days before the 8 June 2008 CFA exams, we are actively studying the potential option of holding those exams in Mumbai in addition to the test centers already established in other countries.

Candidates who have registered to take the June and December 2008 exams outside of India should not change their plans or travel schedules. We will update candidates as soon as we have more information.

1579
This is one of my friend who is working with E&Y; (CA Topper) have shared this valuable tips for appearing for CFA. I thought i shld share with u all.
regarding CFA exams, I would say, from my exp., what does matter is the preparation you do 2-3 months prior to the exam and not just on the exam days.
In my case, I started studying 4 months prior to the exam and was in a comfortable position 1 month prior to the exam by completing the course almost 2-2.5 times. Then in the last month I did for 2 more times and went thru the exam. In fact I didn't get much time to study at all in the last month rather as the exams were coming close I was having less and less time for studies. Even no preparation leave from the office, not a single day off....but what helped me is the preparation I did in advance. Because most of the course is numerical/arithmetical, the time spent 2-3 months advance helps a lot at the exam times.
Then the first reading takes a hale lot of time and don't get disturbed with it, let it take its time, do it properly, the more time it takes the more you would be confident in your next revisions and it leads to better ultimate result. Compared to CA, I noted here that if you do your first revs properly, the later reviews don't take any time. Then the course content is really much lesser than what we have already faced in CA and therefore would not be of much problem.
Regarding questions in the exam, they would be almost on the same pattern as given in Stalla/Schweser books. Therefore I reckon doing the study mats thoroughly.
The most important factor is how do you plan to spend your 6 hrs. in the exam....there are diff topics in the exam and how you want to go abt those. I mean in what order. Probably you may like to start with Statistics then derivatives, portfolio mgt, economics, cap. markets, ethics and fin statement analysis in the end.
This is the order I had followed considering my preparations and expertise. Probably you may decide the order based on your scores in practice exams and see what works best for you.
Then regarding books, I reckon stalla, you have to just arrange for the books and don't buy anything else like CD/flash cards etc. The new mat should cost you almost INR 16-17K and if you find something for photocopy, nothing like it..In india, particularly in bombay, you would see lots of guys recommending schweser, but don't go for it, go for stalla, I have seen both the materials and stalla is really better..but I would recommend doing the practice exams both of stalla and schweser, this would be of help in gaining confidence in attending the exams and probably would give you unbiased exam scores, which could be the case when you study from the same mat and also assess your progress based on the pratice exams given in that mat.
finally, CFA institute recommends studies of 250 hrs for level 1 exams and I believe this is more or less ok. Probably you may start with a target studies of 350 hrs. but this is never a criteria of success and just gives an idea of the amt of efforts required for clearing the exam. The hrs of study depend on the indivisual habits and study approach followed. But I would strongly recommend you to complete the course at least 3 times before you sit for the exam. That is the key to success.


hey can u gimme some link to download stalla sample papers.it wud be of real help
I already have schewer material with me.so dont wanna spend extra bucks for stalla now.

Thanks
1580

There is an news in todays economics times that HC has allowed CFA institute to conduct exam in INDIA. Does anybody tried to change his/her center to IND.

IS anybody have schweser video 2008 CD/DVD?? Please PM me, I need them badly.
Ready to share the cost of above.

1581

I am MANGAL & i live in kolkata ...currently pursuing PGDM (FINANCE) FRM AIMA....i wish 2 do CFA ...is it good 2 do it side by side my MBA...prospects????plz reply....at [email protected] thru this site..well i am new 2 this site & not quite familiar with it...take care...

vivekvarendra Says
I am in the final semester of B.Tech from IIT Delhi.I have scored 99.70 in CAT2007 and have calls frm I & K.I would be taking CAT2008.I was thinking of taking CFA in dec 2008.But I wanted to know how useful the CFA charter would be for me considering that i may enter A/B/C next yr.Are the investment banking jobs one gets after a CFA similar to what one does after IIM A/B/C?And what is the procedure for payment of fees?
1582

Hi guys,

This is my first post to this forum, before posting here I went through almost all the threads to look for the answer/suggestion that I am searching for.

I have a engineering background and I am working in a prestegious investment bank in Wall St, NewYork as a IT consultant. I do programming in Java/J2EE for the last 8 years.

Some how I desperatly want to swich the gear and move towards business side(finance analyst/porfoloi manager etc I don't know specifically, but do not want to be any more in IT).
I am married and have one kid. I do not want to go for full time MBA. Part time MBA in NY/NJ from good place doesn't worth the money and also my working hours doesn't allow me to do so.

Considering all the parameters I have, CFA looks like a best option for me.

Though I am working in finance industry but I have a little domain experince, as I am fully in to IT systems.

With this kind of background what do think guys,
Is it doable?
How many hours I have to put to get the basic level of finance knowledge so that i can start for L1.
I am very firm and some how want to do it. I can study late night or in the morning and can give 3 hours a day.

Any suggestion is highly appreciated.


Thanks,
Tenny

1583
Hi Tenny,

Me too have a similiar profile as of your - (6 Years Experience). I have started with the CFA L1 course 50 days back, till now finished with around 30% of course. As per my view there is no basic knowledge required to start with but if you have financal domain knowledge that will be an extra edge. 3 hour are more than enough if you are consistent with it. Currently I am giving 90 min on weekend and around 5 hours on weekend, with this pace I am confident of finishing the course well in advance.