Day 2: CFA Level1 Preparation - 90 Days to CFA Level 1

 Day 2 - Build the CFA Level I Study System Before You Study Harder

 

DAy 2 is about understanding more about the exam. I guess you have already registered for the August Exam if you are looking at this.

Work Smarter - And Harder

CFA is about both working smart and hard within a limited timeline. Please comment with your daily study timeline.

Before starting preparation, set out a time for preparation and review

- Mark the exact exam date and count backwards

- Choose a fixed time slot and try to stick to it, and a longer slot for weekends

- Keep study material, notes, formula sheets, flashcards, prep notebook, calculator handy

Preparation

Today’s topic is Quantitative Methods, starting with time value of money.

Focus on:

• Present value and future value
• Compounding and discounting
• Annuities and perpetuities
• Nominal versus effective annual rates
• Basic calculator keystrokes for TVM problems

Do not rush this section. Time value of money appears across finance topics, so weak calculator habits here will slow you down later.

Practice target

Complete 25 Quantitative Methods questions today.

Use this split:

• 10 questions on present value and future value
• 5 questions on annuities
• 5 questions on interest rates and compounding
• 5 mixed questions without looking at notes first

Ethics - Complete an Ethics block. 

After each mistake, write it in your error log under one of four labels:

• Concept gap: I did not understand the idea.
• Formula gap: I knew the concept but forgot the formula.
• Calculator error: I entered the values incorrectly.
• Reading error: I missed what the question was asking.

Review checkpoint - Very Important

At the end of the session, answer these five questions:

1. Did I complete the 25 questions?
2. What was my accuracy?
3. Which type of mistake appeared most often?
4. Which formula or calculator step needs repetition tomorrow?
5. Did I do at least 5 Ethics question and finish a block?
6. What is my first study block for Day 3?

Tomorrow we start building Quant momentum with statistics and probability. 

Check out Day 1 plan here

cfa blog : CFA Level 1 for August - What to Prepare Today - Day 1