Tuesday, February 1, 2011

My CFA Level 1 Exam Experience

The purpose that I took up CFA is to improve my value investing. I read the contents of the book and found them very relevant to advance what I pick up from MIP. However, due to my misunderstanding, I thought that I have to enrol into the exam to get the texts. And hence that started my CFA Level 1 Exam Experience.

So I passed my CFA Level 1 Exam. Didn't really expect I did it though :) but I glad I did. My results? I got 1 within the range 50 - 70 while the rest above 70. There a number of pointers that I think had assist me to do well.

1. Stalla DVD Lectures - a MUST especially those that have Peter Olinto doing the lectures. He is the man. What make him so effective is that he make the concept so much easier to understand. There's also his shortcut ways to understand things and most of all, he is so clear what need to be known.

2. Stalla Passmaster - the questions are alot more difficult than the exam. I found the exam question more towards memorizing instead of application or rather it is the memorizing stuff that is the difficult part for me.

3. Sandhu Singh (FICS Lectures) - I wouldn't say this is the best lectures I ever attend but among the many who taught, I can only say Sandhu Singh is the best. Though I'm not too a fan of his Wheel Of Fortune quiz, he did a great job in making the concept easy to understand and also the lesson interesting.

4. Confidence - I had started my preparation quite well in June and July but in August, September and to Mid October, I was distracted into Live Trading. I thought I can catch up in November but I was wrong. However with the Peter Olinto's lectures and the sponsored trip to KL CFA course, I am able to accelerate my learning process. On the last week of the exam, I was in a state of panic. I felt I needed another two weeks to feel good. I can't recall the answers to the questions that I had attempted before and totally, my mind began to lose things that I so well reasoned out. I recall in my live trading program, TY told us that the worst thing to lose is Confidence. So on the last two days, I stop doing the Stalla Passmaster as the questions there are much difficult and do the easy questions in the CFA text book. This way, though I know I am in a way bluffing myself, I actually boost my confidence back as I have no issue answering those question. Somewhat tricking my mind. I think that help me most.

Last but not least, remember to do the Mock Up exam that was provided in Mid November as some of the questions in the actual exam looks similar to the Mock Ups.

8 comments:

kanjur said...

hey Mackerel..!! The story you shared about IFRS Training is simply awesome.

thanks!!!

Anonymous said...

Hi,
Thanks for sharing your story. Are you willing to sell your Stalla DVD lecture since Stalla doesn't make them anymore? If so, please let me know @ y_yiming2000@yahoo.com.

Amy

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