1. Put in a lot of practice time!

Because the CFA exams are so long (6 hours for each level), time management is essential. It’s one thing to absorb information; you’ll also want to put it into practice so that you can improve your recall and ensure that you’re understanding the questions. Start with the CFA Institute’s books, which contain a plethora of mock exams and practice questions. Then, identify your weakest subjects and concentrate on reviewing them. Then, at least two months before the exam, begin taking mock exams. Free mock questions can be found at the end of this blog.

2. Don’t waste time.

About 285 hours of study is recommended by the CFA Institute. However, depending on your background, time management skills, and prep course, you can make the most of each hour, reducing wasted study time significantly. For example, with The Princeton Review, you should be able to put your distractions aside and complete your Level I CFA exam preparations in under 120 hours.

3. Develop a study plan

Setting aside that time and committing to staying on track is critical. By spreading the required work out over six months, you not only establish a solid routine that allows you to digest all of the material, but you also give yourself some leeway to reschedule your study sessions if you fall behind.

4. Focus on concepts

The CFA exams are becoming more conceptual, particularly the Level I exam. Concentrate on the most important formulas for the exam and provide a formula sheet that highlights common-sense applications and how to derive any additional information you might require. Finally, you’ll want to figure out which formulas you can skip if they’re consuming too much of your time.

5. Know your financial calculator

You’ll be able to bring one of two calculator models to the tests. Practice with your chosen device ahead of time so you know exactly how to use it. Once you’ve gotten the hang of it, you should be able to rack up some quick points right away.

Login and start practicing

0%

0 votes, 0 avg

5 questions will be shown from a total of 30 free practice questions to prepare you for CFA level 1 exam. Enjoy!

1 / 5

1. A company had equipment worth USD50 million on 1 January. During the year, they purchased equipment for USD10 million. On 31 December, the equipment account showed USD40 million. All figures are shown at cost, before depreciation.

The amount of equipment sold during the end of the year, at cost, would be closest to:

A. USD40 million

B. USD20 million

2 / 5

2. The standard deviation of the market portfolio is 0.2. The beta of a company with standard deviation 0.6 and market correlation of 0.4 is closest to:

A. 1.2

B. 1

C. 0.8

3 / 5

3. A bookstore earned USD200,000 over the past year. At a tax rate of 40%, that bookstore incurs an income tax expense of USD80,000. Under which of the following accounting systems would the expense typically be categorized as an operating activity?

I. IFRS
II. U.S. GAAP

A. I only

B. II only

C. I and II

4 / 5

4. Meta Corp. sells 15,000 units of its product at a price of USD10 per unit. The company’s fixed costs are USD12,000 and interest expense is USD3,000. The variable cost per unit is USD7.

Meta Corp’s degrees of operating leverage and financial leverage are:

A. Degree of operating leverage = 1.36, Degree of financial leverage = 1.36

B. Degree of operating leverage = 1.1, Degree of financial leverage = 1.36

C. Degree of operating leverage = 1.36, Degree of financial leverage = 1.1

5 / 5

5. Which of the following forms of trading blocs allow for unrestricted trade of goods and services among its members?

I. Free trade areas
II. Customs unions
III. Common market

A. I and II

B. II and III

C. I, II, and III

Free sign-up(click) to

1. skip this part 2. access all free questions 3. show explanations

Your score is

The average score is 61%

LinkedIn Facebook

0%

Practice Again