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Question about CFA Level 1

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2/11/10
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I have a question regarding prep for the CFA Level 1. The registration deadline before prices go up for the CFA exam in June is Feb. 17th. I am debating on whether I have enough time to study for the exam. The following is a little background about myself. I got a double major in Economics and Engineering Science and a minor in Engineering Management and I graduated May 2009. I then enrolled in a Masters of Science in Finance program and I am in my second semester. I have taken basic finance, basic accounting, and I am currently taking derivatives, investments, and portfolio theory. I know that the website says 250 hours at least are strongly recommended. However, with 3 classes and two part time jobs I do not know if I will be able to devote that much time.

Do you think that 250 hours is needed if I have a degree in economics and I have taken accounting and finance classes already? Do you think I should wait till December? I ideally want to get it out of the way in June so I can hopefully pass and include it on my resume while i'm job searching this upcoming fall as this fall will be my final semester with my masters program.

Any help would be appreciated. Thanks.
 
I was in your position a year ago, decided to go for it right before the price-goes-up deadline, and now I am very happy I did. Now I'm in the middle of an MFE and most other kids, except some, will write the level I in June while I am already a year ahead.

Don't worry too much about the difficulty, it's way easier than engineering classes. Unlike you, I had taken no classes in finance/accounting/economics prior, and I passed all topics >70% with only a month of studying (though full time I have to admit). The 250 hours was accurate for me with zero background in the subject so it should be less for someone with a good relevant undergrad.

So all in all I personally strongly suggest you write it as soon as possible, it's worth it.
 
I cleared my CFA Level 1 last june. IMO you should enrol for exam and I feel given your educational background it should be possible to clear it.

I feel around hour a day should be enough initially. If you could spent arount 3-4 hrs in May I think you would clear it. Best of Luck....
 
Whether you pass or fail, sitting for the exam is an eye-opener and it is worth taking it either way if you have the money. If money is tight and you really need to pass it the first time, then I think the 250 hours is about right unless you have a strong background in the subject material. Remember that the material covers ethics, finance, accounting, and economics.
 
I cleared level 1 this December. Had no relevant education background in finance. I studied on the weekends for about two months and full time in the last month. Given your background, it wont be a problem for you to clear it.

Since you have taken the basic courses under almost all heads, I think you should give it a shot this June. Best of luck.
 
No finance background but cleared it. I put in about 300 hours. I kept a record of it. L1 is not difficult. The questions are pretty basic and tests your fundamental understanding rather than your real caliber in the subject. However, you do have to put in those honest 300 hours. The challenge is the size of the material.
 
I am one of the applicants who has not registered for exam in June 2010 yet.My problem is that I have not my Gov't Issued Photo ID ( I mean my passport ) yet,but I am going to get it within next month but it is after the deadline.
I want to know if there is any chance for me to change my personal information after the deadline?Please inform me about the solution as soon as possible.
 
The best way to know if to give the CFA staff a call, or e-mail.
 
tanx my friend
I sent an e-mail, but they have not answered my question.
what can i do now?plz help me
 
48 hours until you get an answer. I've contacted them concerning a typo I found in the curriculum. They have replied within that timeframe.
 
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