Day 6: CFA Level I Quant Study Plan: Descriptive Statistics - CFA Level 1 90 Days

 Day 6 - Level 1 CFA in 90 Days

Day 6 begins a new Quantitative Methods block. After several days of time value of money, today shifts into descriptive statistics: how data is summarized, interpreted, and compared. The Quant questions cover mean, weighted mean, geometric mean, variance, standard deviation, coefficient of variation, skewness, and kurtosis.

This is a study-plan blog post, not official CFA curriculum material. Use it to structure your preparation, then rely on your CFA materials, notes, or question bank for the actual readings and practice problems.

Checklist

Spend 10-15 minutes preparing your study setup.

Materials: Keep your formula sheet, calculator, question bank, and notebook ready.
Calculator check: Confirm how to enter a small data set and calculate mean and standard deviation.
Formula focus: Mark formulas for mean, weighted mean, geometric mean, variance, standard deviation, coefficient of variation, and range.
Flash cards: Keep your flash cards handy or ready to be prepared
Question bank filter: Select Quant questions tagged statistics, descriptive statistics, measures of central tendency, and dispersion.
Time block: Plan for study, review and questions, 2-3 hours 

Today’s goal is to understand what each statistic tells you, not just how to calculate it.

Daily Ethics reading and prep

Spend 10-15  minutes on Ethics before the Quant block.

Today’s Ethics focus: misrepresentation and data presentation.

Read one short scenario where an analyst presents performance results, charts, or statistics to a client. Ask yourself:

• Is the analyst showing the full picture?
• Are any numbers being cherry-picked?
• Are assumptions clearly explained?
• Could the presentation mislead the client?
• What disclosure would make the communication fairer?

Then complete 5 quick Ethics questions or flashcards. If you miss one, classify it mainly as a Concept gap or Reading error.

Main study block

Today’s Quantitative Methods focus is descriptive statistics.

Subtopics to study

CFA Level 2 Study Session Outline and LOS pdf

Here is a link to the comprehensive study session outlines from the CFA curriculum. See the study session outline details, weightage for every topic, number of study sessions in each of the ten CFA topics, the readings or chapters in each Study Session and plan accordingly. The Level 2 curriculum for 2014 is slightly changed from the Level 2 curriculum for 2013. Download the Study sessions and LOS in pdf. http://www.cfainstitute.org/programs/cfaprogram/courseofstudy/Pages/study_sessions.aspx?

CFA Level 1 Dec 2010 - Exam Day Experience

I have chilled out for 10 days now. Just forgot all about it, stowed away my books and calci, read a number of Mills and Boon, caught up in Mafia Wars and Farmville. Now is the time to relate my exam day experience I guess.

My centre was Sunway Lagoon Convention Center in Kuala Lumpur. i arrived nearabout 8 am to find the lobby more or less packed. Stowed away my study notes and surveyed all. It looked to me there were a lot of young people. 21-22 year olds made up almost 90% of the examinees would be my guess. There were around 550 people appearing at that center. i actually counted the tables ;-) - but I forget the exact number.

These are some of my observations, most contrary to what i had expected

• Hardly a dozen seats went empty in the hall - ie very few no-shows
• Majority of examinees looked to be just graduates...very very young
• I have been reading at some forums that many of the young people didnt have focus. However all around me could only see serious determined faces. The study notes got put away at the last moment!

Now coming to the exams - my hopes hang by a slender thread - ie if any hope is there this time! I was pretty happy after the first session. However a glance at the second session's paper told me I was in big trouble!

Timewise the papers were not at all a problem. i guessed I could have finished both sessions 30 mins early if I had not dawdled quite a bit towards the end.

After Exams feelings

Like I said before I was around 100hrs short of preparation

Forming a study group or being part of one would have been good. Any takers for June 2011?

Quants killed me. So they get more attention next time

Most irritating After Exam experience is that Analyst Notes has killed my account! Cant even participate in forums unless I re-register for the next session exams! Isnt that bl##dy unfair? I really had not idea that that is how there system worked!

And finally - is there any point giving the CFA???

Please join in and comment if you find this blog through the SE!