Wednesday, April 29, 2009

The actual amount of time require to study CFA Level 1

The CFA's website recommends studying at least 250 hours for each level of CFA. Alternatively 10-15 hours each week for 18 weeks. This assumes 1 Study Session per week.

From my own experience that is not enough. Despite having some background in fixed income, equity and derivatives, quant, basic econs and basic accounting, the recommended amount isn't enough.

I think a more realistic schedule is to study 10-15 hours each week over 36 weeks. This is more realistic. Since an undergraduate degree is required to take the CFA, it implies that many people who take this exam isn't very very young. Thus, the brain is not as super as before.

For me, I found my own physical stamina to be the limiting factor. Thus, having a good health and physically strong is also an important factor.

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