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 | Set up a specific time for uninterrupted study and
devote yourself to a six-day study week. Take one day off each week to avoid
burnout. |
| Key definitions, formulas, lists, and concepts
should be written on notecards for quick review. Take a stack of notecards with you
wherever you go. They are a very efficient review tool. |
| Always work practice questions under exam
conditions. Time management is critical to your success on the CFA®
exam. Develop this skill early. |
| When working practice questions, circle the
questions you guessed at, even if you guessed correctly. We all suffer from the
"I knew that" philosophy which comes from just reading the answers.
Don’t cheat yourself. If you guessed at a question, circle it. Tomorrow,
go back and rework all circled questions. Continue this process until you can answer
all questions correctly. |
| Take several practice exams under exam conditions.
A practice exam should include 2 uninterrupted 3-hour exams with a 90 minute lunch
break. |
| Make a practice run to the exam site before the day
of the exam. |
| Do not study the night before the exam. No
exceptions! |
| On exam day, get to the site early. |
| After the morning exam, eat lunch alone and relax.
Don’t work yourself into a frenzy by commiserating with other candidates. |
| Don’t be distracted when other candidates leave
early. Stay to the end; give yourself every opportunity to score points. |
Multiple choice:
| Start with the section of the exam with which you
are most comfortable and build your confidence. |
| Jot down your estimated completion time at the
beginning of each section. DO NOT exceed your estimated completion time unless time
remains at the end of the exam. |
| Read each answer completely. Eliminate the
answers that are obviously incorrect. |
| Make an educated guess on each question. If an
answer is completely foreign to you, there is probably a good reason. Eliminate it. |
| Properly label all computations. A well
labeled answer takes practice. Develop this skill early. |
| Mark the correct answer in the question booklet and
bubble in your answer sheet immediately. Do not wait until the end of the exam.
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Problems and Essays:
| Jot down your estimated completion time at the
beginning of each question. DO NOT exceed your estimated completion time unless time
remains at the end of the exam. |
| Quickly skim each question and rank from easiest to
hardest. Build your confidence by working the easiest questions first.
CAUTION: Some answers build on previous questions, so be careful. |
| Use a key word outline to develop your answer.
Your key word outline might include buzz words, concepts, formulas, definitions,
lists, etc. |
| Avoid spelling errors, sloppy writing, and poor
grammar. Use bullet points when possible. |
| You cannot leave any answer blank and expect to
receive partial credit. You must write something. |
| Properly label all computations. A well
labeled answer takes practice. Develop this skill early. |
Financial Accounting
Workshops
7905 Citadel Court
Fort Worth, Texas 76180
Phone: (817) 514-7360
Fax: (817) 514-7374
E-mail: john@accountingworkshops.com
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