study habits

Five Study Habits To Make Sure You Pass Your CFA Exam

When you look at the average pass rate for the CFA exam, you may start to worry because it isn’t very high at 43%. If you want to be part of this small number of people passing, you need to know how to study correctly. There are certain study habits that you should get into which will help you pass your CFA exam.

Know That Study Sessions Are A Marathon Not A Sprint

If you want to pass the exam, you need to prepare correctly and start studying well in advance. It is recommended that you spend at least 6 months preparing and complete 300 to 400 hours of studying before the exam. You should never leave your studying for the last minute because cramming for the exam will not help you pass.

You should also look at scheduling your study sessions further apart. Leaving a few days between studying will actually help you retain information. Relying on long-term memory is recommended because it offers a more intensive retrieval effort and will help you when it comes to writing your exam.

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Find A Study Method That Suits You

One of the study habits that you need to get into is to use a method that suits you. There are some people who find working with flash cards to be the best method while others find writing everything out helps them remember. It is important that you find the method that is best for you and not give in should people tell you about their method.

Every person is different and the way that your brain handles information will be different. If your study partner studies best late at night, this does not mean that will work for you. There are times when this is a bit of trial and error, but you will be able to tell what is working for you.

Make The Most Of The Materials On Offer

The CFA has a lot of study materials that will help you prepare for the exam. You should take advantage of this because it is coming from the CFA itself. It is recommended that you take a look at the Learning Outcome Statements that are provided by the CFA because they will help you.

You should also look at getting study aids and any mock tests that you can find. Of course, you will need to ensure that all of the materials you are using are up to date. Older versions of the materials might be missing information that will be on the exam.

Do Not Leave Anything Out

Each unit of your course will be important and will possibly make up part of the exam. This means that you should never skim over something. There are some people who skim the 300 pages of economics information because it only makes up 10% of the exam, but this could be the difference between passing and failing.

The units that do not have a lot of coursework should not be taken lightly either. You need to know these units very well because one wrong step and you could fail the entire exam.

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Look After Yourself

While it is important to have good study habits, this will mean nothing if you are not looking after yourself. As the exam nears, you need to ensure that you eat regularly and are getting enough sleep. You should also take the time to get some fresh air every day to ensure that you remain healthy. If you have a full-time job, you might want to think about taking some half-days to help you relax before the exam.