Slide 1 : CFA Level 1 December 2008 OptionSwap Test Taking Strategies www.optionswap.com Disclaimer: CFA Institute does not endorse, promote, or warrant the accuracy or quality of the products or services offered by OptionSwap. CFA Institute, CFA® and Chartered Financial Analyst® are trademarks owned by the CFA Institute.
Test Topics : Test Topics
Test Structure : Test Structure Start – 0900 hours End – 1200 hours 180
minutes 120 Questions per session
1.5 mins per Question Start – 1400 hours End – 1700 hours 180
minutes
Before the Exam - 1 : Before the Exam - 1 Revise ETHICS once again and quickly review the OptionSwap summary booklet.
Check your calculator battery and carry a spare set if required.
Borrow a spare calculator from FRM friends if possible.
Know your calculator well
At least 5 to 10 points will be based on calculator alone
Improves your efficiency by at least 20%
Don’t skip lunch at any cost
afternoon session is physically stressful
You need all the energy you can get
Have a good, light lunch – but don’t eat too much and sleep
Take pre-packed lunch with you to the exam
Before the Exam - 2 : Before the Exam - 2 Visit the exam center the previous day
Start early on the exam day – reach the center at least 30 minutes before exam
Plan a well defined strategy for the last week
Try to avoid studying on the morning of the exam, or even the last evening before the exam.
Sleep well before the exam.
Equipment for Exam : Equipment for Exam Prescribed Calculator
Pencils – Prescribed grade (HB?)
Erasers
Sharpener
Watch
Lunch
Passport
Water bottle
Redbull ???
During the Exam - 1 : During the Exam - 1 Attempt all Questions !!! - No negative marking
Start with the topic you are most comfortable with – boosts confidence and increases momentum
Round 1 - Scan the paper for easy/theory questions and answer them first.
Round 2 - Work on the remaining problems
Don’t spend too much time on a single question – its not about answering every question, but answering most questions
Time Management – check your watch once in a while
Mark answer on the OMR sheet as soon as you have solved a problem
Pay great attention to the oval you are rounding
1 mistake can blow your chances
During the Exam - 2 : During the Exam - 2 Take an intelligent guess for questions for which you don’t know an answer
Read the question carefully
Remember that if the question paper is tough for you – its tough for everyone else
Do NOT quit after the morning session – the afternoon paper is relatively easy
Be prepared for very long descriptive (case type ) problem where there will be a lot of matter . Try to separate the relevant data quickly and try to fit them up in a formula to get what is necessary.
Don't speak or listen to other candidates during the lunch break
Alternative Advice – Try at your own risk : Alternative Advice – Try at your own risk The exam has a fixed pattern and it has mostly fixed weight for each of the sections. Considering the fact that a person's energy level decreases as time elapses , its always best to start the morning exam from the first page of the question paper and start the afternoon exam from the last page of the question paper .That will ensure that you have distributed your energy levels equally to all the sections.
Energy drinks like Redbull will help to concentrate better
Thank You ! : Thank You ! Please email your comments/feedback to: info@optionswap.com
Disclaimer : Disclaimer All the advice given here is based on experiences of people who have the experience of successfully working towards the CFA charter and mentoring people towards CFA.
This advice has been given in good faith. Please use the tips at your own risk. OptionSwap is not responsible for any damages of any kind from following the suggestions mentioned here.
Disclaimer: CFA Institute does not endorse, promote, or warrant the accuracy or quality of the products or services offered by OptionSwap. CFA Institute, CFA® and Chartered Financial Analyst® are trademarks owned by the CFA Institute.