How to Pass the CFA Exam on Your First Attempt
Passing each level of the CFA exam on your first try is challenging but doable. Check out our seven tips for accomplishing this mighty task!
The Chartered Financial Analyst (CFA) exam is known for being a demanding exam that's challenging for CFA candidates. Passing all three levels of the CFA exam on your first try is a significant achievement. Doing so requires careful planning, commitment, and an effective approach.
At Salt Solutions, we offer a comprehensive system of CFA exam materials and resources for superior preparation, including mock CFA level 1, 2, and 3 exams. Below, we offer some important tips and strategies to help you improve your chances of passing the CFA exam on the first try!
1. Start Early and Plan Thoroughly
Early preparation and careful planning are necessary to pass the CFA exam on your first attempt. For each exam level, the CFA Institute recommends investing study time of about 300 hours. You should create a detailed study plan that covers all the required material, including the use of practice questions, readings, and mock exams.
2. Understand the CFA Exam Curriculum
The CFA exam is comprehensive in nature and covers a multitude of topics, including economics, quantitative methods, ethics, portfolio management, financial reporting, and others.
You should understand the curriculum thoroughly and know how each topic is weighed at each exam level. Heavier focus on the higher weighted areas can be advantageous, but don't neglect the lower weighted topics. Every point on the exam is important to passing!
Work through numerous practice questions and mock exams to strengthen your knowledge.
3. Use Study Materials That Mimic the Official CFA Exam Format
You should use study materials, practice questions, textbooks, and mock exams that are designed specifically to reflect the content and format of the actual exam.
4. Practice, Practice, Then Practice Some More
A major key to CFA exam success is practice—and then more practice. Take the time to work through numerous practice questions and mock exams to strengthen your knowledge and become familiar with the exam’s time constraints and format.
5. Focus on Ethics and Professional Standards
A significant portion of the CFA exam involves ethical and professional standard considerations, which are also heavily weighted on the exam. Familiarize yourself with the CFA Institute’s Code of Ethics and Standards of Professional Conduct. Your study curriculum should include case studies that help you learn how the exam assesses various ethical issues.
By planning carefully, using the right study materials, and staying consistent with your study plan, you can definitely pass the CFA exam on your first attempt.
6. Stay Consistent
Avoid cramming leading up to the date of the CFA exam by keeping and following your study schedule with consistency. Consistent study sessions and keeping track of your progress will work better than attempting long study marathon sessions. Whether you need CFA Level I exam prep, CFA Level 2 mock exams, or CFA Level 3 exam review materials, we have you covered at Salt Solutions!
7. Sleep Well and Eat Healthy Before Exam Day
Before exam day, get a good night’s sleep and eat a nutritious and filling breakfast. Arrive at the testing location with plenty of time to spare. Bring all the required materials, including your ID, and you will set yourself up for success!
By planning carefully, using the right study materials, and staying consistent with your study plan, you can definitely pass the CFA exam on your first attempt.
For any questions about the CFA study materials and exam preparation we offer, reach out to our support team.