How to write a study plan?

CFA level 1 study time frame?

• I'm currently a 4th year accounting student looking to write my CFA Level 1 exam this coming June. The requirements to write the CFA Level 1 is that you must be in your final year of study, which I am. However, I will not graduate until next december so when I go to write my level 1 CFA I will not have all of my accounting courses completed. I plan to obtain my CA after graduation and the Accounting/Finance courses I will not of taken when I need to write the CFA test include: Advanced Financial Accounting (consolidation), Auditing 2 and 3 and Tax 2. I have always been a good student in accounting/finance courses and generally average marks for these courses in the 80's. Ultimately, I need to determine how many hours i realistically need to study for this exam to pass it, I'm trying to determine if I can have a summer job and study up to the exam or if I should just completely focus on studying for the exam when my University exams conclude in April. I know the suggested study amount is 250 hours but in talking to some individuals already they feel the courses I have taken will lower the the amount of hours needed studying. Anybody from any academic background is able to write the exam so it would seem like i may have a leg up on other students who took arts or engineering in university. So, realistically how much of a time commitment am i going to need leading up to this exam? Any information you guys think might be helpful is very much appreciated.

• Answer:

  250 hours might be optimistic for an undergrad. You do not have an academic "leg up" as you will be competing mainly against candidates with MS Finance, MBA, or equivalent. Your advantages are: - Currently in student mode rather than trying to get back into that mode. - Don't have the time commitments of spouse, kids, full time job. Study tips: - Do as many practice exams as possible. It is the best preparation. - Cram on Ethics. No excuse to lose points here. - Join your local Securities Analyst Society. Many offer CFA prep courses. - Expect a Dupont ROE decomposition question. - Read all the newer articles, a frequent source of new questions.