If you are planning to take your CFA level 1 exam you must realise that this exam also has an abysmally lowpass rate. If the results for the last four years are taken into account, we come to an average of 42-43% students emerging successful. From this, one can further deduce that the success rate among students crossing the red line in their first attempt is even lower. But this shouldn’t come as a warning sign as you can easily clear the level 1 examination in your very first attempt like hundreds of others who do it every year. Take a CFA Level 1 online course as it serves as the right kind of preparation to improve your odds. This has been the success mantra for many students and you can join the group of people who clear Level 1 in their first attempt.So how does such an online course improve your odds in a competitive exam? Let’s find out –
# Methodical Approach
There are two ways to prepare for any exam – madness or method. We don’t even need to tell you which among these paths would improve your chance of success. While many students waste time in trying to grasp all the subjects, CFA Level 1 Online Courses help aspirants prepare methodically for the exam. As you would know there are different topics that you will have to master if you wish to clear this examination. While you can’t leave out any subject area, it is natural for you to choose your strengths and focus on them along with increasing your knowledge base around your weaknesses. When you enrol for CFA Level 1 Online Course your trainers would help you identify your strengths and weaknesses. Once you are fully area of this you can easily play this to your advantage and excel. Remember there are many aspirants who fail as they aren’t able to gauge their strengths and weaknesses.
# Helps In Last Minute Preparation
We must be honest in admitting the fact that not all CFA aspirants start early and devote the required amount of time to pass this examination. There are many who get serious with their preparation only at the last moment and this is where CFA Level 1 Online Course is of great help. If you have jumped in the queue at the last moment you can’t expect to run though the entire course program like people who have been preparing for months. This is where you will have to bring in a smart approach to your preparation. For instance in Level 1 examination Financial Reporting and Analysis carries 20% weightage so you must focus on that instead of spending too much time on Portfolio Management which carries a much lower weightage, though this would carry between 40-55% weightage in Level 3. Similarly, Ethical and Professional Standards is one subject area that has equal weightage in all three years and is something that you can’t ignore.
# Get Battle Ready
The best way to prepare for a battle is to fight one. You can spend hours and months improving your knowledge base and concepts but fail in the exam. Blame it on the exam format or the ability of an examinee to make a smart guess in the multiple answer questions, if you wish to crack the exam you will have to get used to its format. Hence there is no better way to prepare for CFA Level 1 than practice hundreds of questions. Doing so, you will become used to the kind of questions you are likely to face on the day of your real examination and also learn the art of managing time. Taking these mock tests also puts you into the right frame of mind where you don’t get overwhelmed by a few tough questions that come your way and also learn the art of eliminating incorrect answers and choosing an option for questions where you aren’t 100% sure with the answer.