3 Most important questions you must ask before joining CFA classes
Every candidate prior to or during the CFA journey questions whether they have the skills required to be a successful candidate. To help you answer this question, a group of CFA candidates were surveyed and their answers have been summarised below to help you evaluate yourself and the elements of a Chartered Financial Analyst®.
1. Do you have the required level of commitment?
When the CFA Institute states that a candidate is required to undertake 300 hours of training during the CFA® program, they certainly mean it. You must understand that being able to balance one’s priorities along with the CFA classes isn’t the easiest walk in the park. Therefore, an implication that students face due to the lack of an efficient study plan is having to catch up with the lost content. It may not seem like a tedious task at first considering you only have one topic but when it turns into having to prep for 2 - 3 topics, that's when the guilt and regret sets in.
2. Do you have traits that successful CFA® charterholders possess?
Successful charterholders set high regard for ethics especially for elements such as material non-public information, investment analysis, and referral fees as non-compliance could lead to legal issues. To be an effective CFA® charterholder, you need to also display a high amount of interest in the profession. This interest or rather the constant need to learn deeper regarding a situation or topic is what helps them grow from a decent budgetary expert to an incredible one.
Furthermore, The CFA® exam isn’t an exam that you can cram for which means there aren't any shortcuts besides using an exam prep provider. Instead of investing alot of time and energy acing basic ideas, the best way to guarantee that you have quick foundational learning is by utilizing prep provider notes created especially for comprehensive learning. First things first, for Level I, it's particularly imperative to not be satisfied with "sufficient learning." Each level of the CFA® Program expands on the information learned in the earlier one. So "sufficient" to pass Level I could place you in an awful position for Level II since you're expanding on an earlier base.
3. Do you have the ability to give your 100% to each and every topic?
During the CFA journey, excuses can often be the easiest to state considering how much the CFA classes demand from you. As one of our candidates stated, there will be times when you have had an extremely exhausting day or are just so tempted to choose a night out over studying. Those are the times when you need to remind yourself what the CFA® charter truly means to you as even though you don't have any desire to study, you just have to.
Along with, being thorough is also one of the core requirements of an efficient CFA® charterholder both during and post the CFA journey. Charterholders are profoundly sought after for their ability to be detail oriented and notice factors that others often miss out on which helps imply an effective element of understanding and commitment.
Therefore, before you chose to do your CFA, aim at learning to incorporate these details into your day to day life to receive a headstart
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