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Best Ways To Prepare Yourself For The CFA level 3 Exam

Created by - Jobaaj Blogs

Best Ways To Prepare Yourself For The CFA level 3 Exam

Finally, you are here! CFA level 3 is the last hoop to jump before you can apply for the coveted CFA charter.While some might say that the toughest is behind you now, that might not be the case.Level 2 of the CFA examination is said to be the toughest of them all because of the sheer syllabus one has to go through for that.In the case of the CFA level 3 exam, although the syllabus won’t be as hectic, the paper pattern, its structure, and the question types might puzzle you a bit.Level 3 of the CFA examination will demand a precise presence of mind, and the knowledge you gained in the previous levels too.Up till level 2, you had to only face quantitative questions but level 3 brings with it, qualitative questions and answers. You will have to answer both MCQ and essay-type questions in the CFA level-3 examination.Moreover, the questions will be much more conceptual and application-based.Everything about the CFA level 3 exam in 2022.For those of you giving the last level of their CFA examinations this year, the following information might be redundant. (Considering that you most probably already know it)In case the CFA exams are not delayed on postponed because of the pandemic, the exams shall occur in 2 windows in the year 2022.Note that, unlike the other two levels which occur 3 times in the year, the CFA level 3 only occurs two times in a year.For the year 2022, the scheduled dates for the CFA level 3 exams are:February 22-26, 2022August 30 - Sept 6, 2022Just like the rest of the levels, The registration for the exams must be done either 3 months before the exam window for Standard Registration, or 6 months before for early Registration.Furthermore, in case you need to reschedule any exams because of any obligations, you can do so by paying a rescheduling fee of $250.For more in-depth information on the CFA level 3 exams and their time schedules, refer to the following table:Preparation strategies and paper pattern for CFA level 3 examinationThe CFA level 3 examination much like the level 2 examination comprises 2 exam sessions of 132 minutes each.The first session of the exam will consist of vignettes having both MCQ-type and Essay-type questions. The second session will only have 44 Multiple choice questions.Here are the fundamental topics on the basis of which questions will appear in your CFA level 3 examinations:Ethical and Professional Standards Economics Equity Investments Fixed Income Derivatives Alternative Investments Portfolio Management.Again, just like level-2, questions from these topics will be randomly assigned to each session.Unlike the previous level, the CFA level 3 exam will greatly test your grasp of concepts and their applications.With Essay type questions, you will need to have a firm knowledge of the core concepts and the context given in the vignette to be able to answer the questions.Thus, it would be beneficial for candidates to rely heavily on practicing questions and going through case studies to get the hang of the conceptual and application-based problems.Furthermore, the questions in level 3 may sometimes be interlinked. As in after a vignette, you might be asked a multiple choice question and then a follow-up essay-type question to justify the response marked in the first question.The CFA institute calls this the constructed response format. It is described as “varying structures and point values that typically have several parts related to a case study that describes an investment challenge.” In this case, the candidates’ responses require a higher degree of specificity.Last bits of advicesThe qualitative factor makes Level-3 much more daunting than the previous level.Not to mention the fact, that the competition is fierce and you are competing with the best of the best.Time management is crucial while preparing for this particular exam.On average, candidates required 335 hours of study to prepare for the CFA level 3 exam.If you are to dedicate such time for your exam prep, then make sure to segment it into study sessions.For a time frame of 6-9 months, 90-100 study sessions of 3-4 hours each are considered apt for the preparation.You will also need to delegate a huge chunk of your time for practicing the questions.All the best!Wanna know more about the job opportunities you can get after your CFA? Read here. This informational piece is brought to you in association with jobaaj.com

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Published - 7 Days Ago

Want to clear CFA level 2 exam on the first attempt, here’s how!

Created by - Jobaaj Blogs

Want to clear CFA level 2 exam on the first attempt, here’s how!

CFA exam level 2 is not an easy ship to row!First of all, it's considered one of the toughest levels out of the 3 required to complete the CFA program. Secondly, this is the level at which you start getting some serious competition.Let me congratulate you first for powering through the level 1 exam of the CFA program. If you have accomplished this, you are probably in the top 40% of people that applied for the CFA program.To know more about what's waiting for you in the 3rd level, click here.However, the going only gets tough from here on out.Level 1 of the CFA exams is where most students end their CFA journey, so when you are studying for level-2, just know that you are competing with the most dedicated of the lot.The knowledge that you gained in the 1st level will also be crucial in the second level, as this time, you will be able to apply that knowledge in questions that comprise case studies and vignettes.This exam judges you on your practical knowledge and your ability to apply the information that you have learned in real case studies.Everything about the CFA level 2 exam in 2022For those of you who will be giving the CFA level 2 exam in 2022, this information is important.After the incessant (and free) rescheduling of the CFA exams that happened in 2020 and 2021, this time, the exams are expected to happen on their scheduled dates.This year, the CFA level 2 exam is scheduled on the following time windows in 2022:Feb 22-26, August 30- September 03November (exact dates not yet released)The registration for exams in each of these time windows must be done either 3 months earlier for standard registration, or 6 months earlier for Early Registration.For the year 2022, the early registration fee for the exam is $700, while for the standard registration, the fee is $1000.For more in-depth information on the time schedules and fees constraints for the CFA level 2 exams, consult the chart given below.Paper pattern and preparation strategies for CFA level 2 examWhile the CFA level 1 exam comprised only of MCQs, the level 2 exam consists of vignettes accompanied with MCQs.The exam is held in two sessions each of 132 minutes.There will be a total of 88 questions randomly assigned in each of the two paper sessions.The major topics covered in the CFA level-2 are similar to the level 1:Ethical & Professional Standards Quantitative Methods Economics Financial Statement Analysis Corporate IssuersEquity Investments Fixed income Derivatives Alternative investmentsportfolio management & Wealth PlanningHowever, unlike your CFA level 1 exam, you will be treated to a surprise in each session since the above topics will be randomly assigned to each of the sessions.The exams will greatly test your practical knowledge, and whether you can apply investment tools and concepts in contextual situations.As a general rule, the candidates must focus on practicing questions and should devote more time to the practice than on learning the concerts.A well-practiced and steady hand can do you wonders in exam sessions.According to the CFA Institute, on average, candidates devoted 325 hours of study for the level-2 examination.Thus you should aim to at least reserve 300 hours of study for your exam prep.You could do so by dedicating a fixed number of study sessions of small-time durations to manage your time resources.Generally, it is seen that small study sessions lead to higher productivity and retention of concepts.Thus, it’s a viable idea to fix 90-100 study sessions of 3 hours each.That should be sufficient for you to breeze through your CFA level 2 prep.Concluding noteRemember! Practice is the key to this examination.You will be judged on application-based vignettes and questions, so you need to make sure that you are familiar with the different contexts in which the concepts can be applied.Around 50% of your total CFA level 2 exam preparation should be dedicated to practicing the questions.Considering 132 minutes for 44 questions, you have got about 3 minutes for each question. Aim to solve those questions in half of that time to reserve time for the review process. This information piece is brought to you in association with jobaaj.com

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Published - 7 Days Ago

8 tips for clearing the CFA level 1 exam in the first attempt

Created by - Jobaaj Blogs

8 tips for clearing the CFA level 1 exam in the first attempt

The CFA level 1 exam is hard!And let’s face it, the pressure is also quite big.Almost all students giving these exams are under pressure to pass them on the first attempt, and this pressure is fair given the amount of time and money invested in it. After all, the exam is pretty expensive compared to other similar exams in India. And after spending lakhs of rupees on this program, the stress is bound to happen.To know more about the fees structure and requirements for pursuing the CFA course, read this.What’s even more annoying about the exams is that the honorable CFA institute doesn’t even release any exam materials for this. Of course, the curriculum is also massive.And the cherry on the top is the 6-hour examination that is to be completed in a single day.Such catastrophic exams should always be handled with care. Especially the CFA level 1 exam.Here’s how.CFA level 1 challenges faced by studentsFirst of all, it’s perfectly normal to feel irritated with the exam preparations. Especially since the course always seems to be vast and endless.However, the bright news is that the success percentage of the CFA level 1 exam is 40%.This means that 2 out of 5 people pass the exam. (certainly better than the 1% ratio of JEE)So, here are some tips on how you can get through this daunting paper.1. START ASAP: You need an average of 6 months at least to prepare for the CFA level 1 exam. The syllabus is far and wide, and you need enough time to rest, cry, sleep, and cry again before studying. So, if you want to take the exam in let’s say, June, start preparing before the end of November. 2. MAKE A MONTHLY Study Schedule: You can’t wing it! If you don’t have a proper schedule, the exam may just knock you out. Set aside enough time for understanding the subjects, and for the revision time period. You also need time for solving papers, so start scheduling.3. SET WEEKLY OBJECTIVES: Once the monthly goals are set, you will need to go even more specific. Set weekly objectives, and stick to them. If you got to prepare a tough topic, disperse the study time across the week to ease up the load.4. UNDERSTAND THE CONCEPTS:These examinations are there to test your concepts and that’s what 90% of the questions are going to be about. To grasp the concepts and hold on to them tight. If you grasp the theory behind Time Value of Money, for example, answering questions about "Annuity Due" will be simple. The CFA level 1 exam consists only of MCQs and so the path to clearing this exam is fairly objective.5. Solve a large no. of questions:With such a vast syllabus, you can’t keep up until you solve a gazillion questions.Keep practicing questions as much as you can. Make a target, let’s say 25 questions per day.And stick to it.The fact is no prep classes can exactly pinpoint the exam materials to you. So you will always need to keep your brain ready for all kinds of questions.Focus more on practicing different types of questions for your CFA level 1 exam than on mock papers6. REVISE THE SUBJECTS YOU COMPLETED WITH QUESTIONS:When you've finished one subject and are ready to move on to the next, revise the previous one with questions. This will make the concepts much more clear and will imprint them upon your mind.Let's imagine you've completed FRA and want to start with equity. Before doing so, you should practice at least 10 questions of FRA. And then when you finish with equity, you should 20 questions combined of FRA AND equity.Moving this way, you can cover a lot of questions in a relatively small amount of time.7. SOLVE AT LEAST 10 FULL-LENGTH PAPERS IN EXAM CONDITIONYou must have the feel for it.Only by solving a full-fledged paper in similar conditions to the exam hall, can you be exactly sure if you can nail your paper or not.8. Don’t spend too much time on one questionThe exam has no negative marking. So you have to answer them all.But that also means that you mustn’t spend needless time solving one question that you can’t answer.It’s all about delegating time to maximize the number of questions solved.Give all the answers equal attention and come back to the ones that seem tricky.That is the basic gist of the CFA level 1 exam.One of the more important factors contributing to your potential victory in this exam is Consistency!If you are consistent with your discipline and studies, you are good to go. This information piece is brought to you by jobaaj.com

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Published - 7 Days Ago

CFA Program Registration Process, Requirements, Qualifications, and Fees

Created by - Jobaaj Blogs

CFA Program Registration Process, Requirements, Qualifications, and Fees

The CFA program is a global financial program conducted by the CFA Institute. A peculiar fact about the program is that the registration process, fees, and conduction of examination are equal and fair to all its candidates across the globe.So it doesn’t matter on which part of the little blue globe you reside on, there is only one way to pursue the CFA qualification, and here’s how it goes.Before jumping on to all the important information, you should know that before you can pursue the CFA program, there are several requirements that you have to fulfill.Furthermore, even if you are eligible for the CFA exams, you still need at least 4 years of work experience to get the CFA charter.The basic eligibility criteria/requirement for taking on the CFA level-1 exam is to either have a bachelor’s degree, or 4000 hours of work experience.An alternative criterion for taking the CFA level-1 exam is also having 4000 hours of education+work experience.Another important requirement for registering in the CFA program is the presence of a valid international passport.CFA Program Registration FeesAfter ensuring that you meet the CFA program requirements, all you need to do is prepare your documents and register through the official website of the CFA Institute.The first-time enrollment fee for the CFA program is $450. After this, there are additional fees constraints on each of the CFA exam levels that you take.In total there are 3 CFA exam levels.For each exam, the registration fees depend on the time you take to register for the exam.On average, there are 2 fees constraints namely, Early bird and Standard.There is also an added fee if you reschedule or postpone your exams.For more detailed information on the fees structure for the CFA program in the year 2022, visit here.If you have cleared all the eligibilities, and have a valid international passport, you can start registering for the CFA level-1 exam.The registration process for the CFA level-1 examThe registration process for the CFA exams is quite simple.You will need to first create an account on the CFA institute’s official website.Here’s the link for the registration.Once you are registered, you will need to upload all your qualification proofs, your international passport and move on to the payment window.Now if you have a scholarship then your fees will be substantially reduced, otherwise, you will have to pay the displayed amount and submit your application for review.The next step is to schedule your examination window.For the CFA level-1 examination, there are 3 windows for giving the examination.For the year 2022, the CFA level-1 examinations will be held in February, May, and August.You need to register for the examinations at least 3 months in advance.Here’s a comprehensive table depicting the fees structure, the registration date, and exam window for the CFA level-1 examination in the year 2022.EventsFeesFebruary 2022May 2022August 2022Enrollment Fee$450At Registration (if applicable)Early Registration$700-November 1, 2021February 1, 2022Standard registration$1,000October 26, 2021February 8, 2022May 3, 2022Scheduling-November 17, 2021February 16, 2022May 25, 2022Rescheduling$250January 15, 2022April 16, 2022July 23, 2022As can be seen from the table, in case you have registered for the exam and want to reschedule the date, you have to pay a rescheduling fee of $250.For more information on how to crack CFA level 1 exam in the first attempt, read here.ConclusionIn essence, once you have registered for the examination, you have the option of scheduling and rescheduling the exam as per your convenience.The CFA examinations are designed in a way that they can be conveniently applied for.However, they are extremely difficult and it takes a substantial investment to register for them.Thus, if you are planning to pursue the program, you will have to dedicate both your mental and personal resources to it.

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Published - 7 Days Ago

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