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**Time Value of Money**– when you start preparing for CFA Level 1, it is more than likely that you are aware of the Time Value of Money Concepts. So what else is new? Don’t get persuaded by the easy sound to it. You need to understand the various kinds of yields and which is to be applied where in these calculations. And do note and remember these yields well. You are going to need them over and over again. The other important concepts you need to know among others are the FV and PV of Perpetuities.**2. Financial Ratios**– Know our ratios well. You need to spend some time on it. By the end of the Financial Reporting and Analysis Chapters you need to know your ratios from one another You will need them over and over again. The liquidity ratios, the operating ratios, the profitability ratios, the ROI ratios et al. And don’t forget the DuPont Analysis and how to dissect it**3. Cost of Capital**– Once you know your cost of capital, WACC in various forms, you have your Capital budgeting more or less nailed. That is just one step away from understanding Corporate Finance. In hindsight it actually all looks very simple. But don’t be complacent. It’s a beautiful mark fetching topic where a little bit of effort in understanding will score well.4.

**CAPM**– or Capital Asset Pricing Model is the concept to know in Portfolio Management. To know the CAPm be aware of the Capital Market Line and the Security Market Line. Don’t forget to distinguish between the Required Return of Capital and the Expected Return.5.

**Ethics**– It is really Simple in Ethics. Everytime you are in doubt take the tougher decision. There’s nothing you can take for granted in Ethics. Stick to the narrow and straight path and you get it right 8/10 times. But know the standards well. It looks difficult – but is not really so. The best thing is that the practice problems are enough and have covered it all. Its really an easy way to take your mind off formulas and get that >70