CFA Level 1 Study Order
To prepare for an exam like Chartered Financial Analyst (CFA), you need to have the right set of study material first.
You may use the self-explanatory Study Notes freely available online on Edpedia. These notes cover all topics as per the CFA curriculum, in a short and crisp manner with relevant examples.
In case you’re looking for printed notes, you may refer to the:
To practice more questions, you can get the comprehensive questions bank containing 8,000+ questions, covering a wide variety, and probably touching all the concepts that may be tested on the real exam.
The Study notes are sufficient to enable you to solve all the questions, provided you don’t take shortcuts from the already abridged notes.
You’ll gain a good grasp of the concepts, but for confidence to face the real exam, go through Mock tests. Nothing can be better than preparing in an exam-like scenario. We suggest taking 3 to 4 mock tests.
Solving questions from the Candidate Body of Knowledge (CBOK) is a must. Your CFA preparation is incomplete without it.
Recommended Study Order for CFA Level 1 :
1. Time Value of Money : from ‘ Quantitative Methods ‘.
TVM is the foundation for most of the concepts, hence first things first. Don’t do other chapters of Quants now as it can be hard to digest initially. Better to start with relatively easier ones to retain your interest and boost confidence.
2. Corporate finance : Easiest of ALL. Should be a breeze for those with a commerce/finance background.
3. Ethics: Start with Ethics and carry it along simultaneously with other subjects. No need to complete it at once. Very important from an exam perspective. Questions can be delusional at times.
4. Equity: Bulky, however, not too technical.
5. Derivatives: Consists of 2 readings only.
6. Fixed Income: Give some time to the ‘Valuations’ part. Many candidates struggle at it.
7. Financial Reporting and Analysis (FRA): Easy for commerce grads, however, quite voluminous.
8. Alternative investment: After FRA, cool yourself down with AI. Easy & theoretical.
9. Portfolio management: Be prepared to deal with a lot of formulae.
10. Quantitative methods: Computational. Don’t storm your head too much. Practice more & more questions and you’ll get over it.
11. Economics: The volume does not justify marks weightage for Economics. So, keep it at the end.
Exam Tip: Practicing more and more questions is the key to clear CFA Level 1.