Study Guide

For either the CPA or the CFA exam, you should focus your time in memorizing the core material then answering as many practice problems as possible. Mastering just one component will not be enough. The notes I have posted are meant to help memorize the core material.

CPA Exam
I highly recommend using
Becker CPA review to study for the exam. The lectures are painful (especially by Duffy & Gearty) but are definitely worthwhile. Use my notes as a refresher, then complete as many practice problems as possible. The more problems you complete, the better your chances of passing.

CFA Level I Exam
I used both
Stalla and Schweser review materials for this exam. I originally bought Stalla, viewed all the lectures, and studied based on their materials (this is before the CFA Institute sent study materials). However, two months before the exam I talked extensively with a friend about his experience taking level one. My friend advised against using Stalla, because he thought Stalla focused too much on the details and that the practice questions from his review did not reflect the questions he faced on exam day. He recommended using Schweser. So I purchased Schweser notes on Craigslist and supplemented my Stalla materials with Schweser.

Conclusion
Stalla's video lectures are much better than Schweser's video lectures. However, Schweser's written study materials and questions are much better than Stalla's. In addition, the CPA institute now sends candidates study materials. I recommend picking study materials based on your study preference/habit, then stick with it. There is so much material to cover that it's virtually impossible to comprehensively use 2 different study sources.

CFA Level II Exam
This exam truly tests your endurance. After spending all that time and energy to pass level I, the last thing you want to do is essentially do it all over again. Keep in mind that the material builds of the concepts from level I. Make sure to differentiate between old and new concepts, and focus on the key testable material.

1 comment:

Mr Astute said...

Thank you for your help and your tips.
Can I help add this CFA question bank into your list of references as well?
The site provides free CFA questions

http://sites.google.com/site/cfaquestionbank/