You have a few choices when it comes to level 1 study materials. Keep in mind that the CFA exam is based on a body of knowledge that is continuously being updated by the CFA institute. Every year the CFA institute publishes new curriculum books (http://www.efastcom.com/CFABookstore/control/main), which can be purchased for $395 on the website.
The CFA institute's study book are very long winded and take a while to read. I've spoke to some candidates who studied with the institute's books and they said it took them forever to cover all of the material. I purchased the Schweser study notes, which are a condensed summarized version of the CFA institute curriculum. Schweser is a company owned by Kaplan that employs past CFA test writers, as well as other finance professionals who create study materials designed to help you learn the material quickly. I found that Schweser's books were easy to understand and it took me 2 and 1/2 months to read all five books studying approximately 16 per week. I recommend using Schweser's notes.
To be fair, I know of four companies that offer CFA study materials, Stalla (www.stalla.com), PassPro (www.passpro.com), 7 City Learning (www.7city.com), and Allen Resources (http://www.allenresources.com/). I haven't spoken to anyone who used these materials so I can't attest to their quality or lack thereof. If you can't decide between Schweser, Stalla, and Allen Resources get as many opinions as possible from friends who have taken the exam and people on internet message boards/chat rooms and force yourself to make a decision. On the bright side if the study materials don't work out, you can take the exam over and over until you pass. If one set of study materials doesn't work try a different set.
However, it is important that you asses how much time you will have in the 4 to 6 months leading up to the exam and purchase study materials that will allow you to cover all the material, thoroughly review your weak spots, and take lots of practice questions. Remember, studying with the CFA institute curriculum books doesn't allow most working adults to adequately prepare.
Buying used materials:
Buying used study materials corresponding to previous tests can be dangerous because the test content changes every year. I recommend you don't buy old materials because since the test changes every year, some of the content in the old materials won't be tested at all and new information added by the CFA institute won't be included in your old study materials. If you must buy used materials you can buy June 2007 materials for the December 2007, because the Institute doesn't make major changes in the test within the same year, however, it does make big chances from year to year. This means that the June & December 2007 exams are more similar than will be the December 2007 and June 2008 exams. So, don't buy December 2006 materials to study for the June or December 2007 test. Also, many CFA societies offer scholarships that pay for study materials and the cost of the test itself. Visit this link to find your local society http://www.cfainstitute.org/society/societies.html.
If you have any questions about study materials feel free to shoot me an email at JamesUlan@gmail.com.
Good Luck!
The CFA institute's study book are very long winded and take a while to read. I've spoke to some candidates who studied with the institute's books and they said it took them forever to cover all of the material. I purchased the Schweser study notes, which are a condensed summarized version of the CFA institute curriculum. Schweser is a company owned by Kaplan that employs past CFA test writers, as well as other finance professionals who create study materials designed to help you learn the material quickly. I found that Schweser's books were easy to understand and it took me 2 and 1/2 months to read all five books studying approximately 16 per week. I recommend using Schweser's notes.
To be fair, I know of four companies that offer CFA study materials, Stalla (www.stalla.com), PassPro (www.passpro.com), 7 City Learning (www.7city.com), and Allen Resources (http://www.allenresources.com/). I haven't spoken to anyone who used these materials so I can't attest to their quality or lack thereof. If you can't decide between Schweser, Stalla, and Allen Resources get as many opinions as possible from friends who have taken the exam and people on internet message boards/chat rooms and force yourself to make a decision. On the bright side if the study materials don't work out, you can take the exam over and over until you pass. If one set of study materials doesn't work try a different set.
However, it is important that you asses how much time you will have in the 4 to 6 months leading up to the exam and purchase study materials that will allow you to cover all the material, thoroughly review your weak spots, and take lots of practice questions. Remember, studying with the CFA institute curriculum books doesn't allow most working adults to adequately prepare.
Buying used materials:
Buying used study materials corresponding to previous tests can be dangerous because the test content changes every year. I recommend you don't buy old materials because since the test changes every year, some of the content in the old materials won't be tested at all and new information added by the CFA institute won't be included in your old study materials. If you must buy used materials you can buy June 2007 materials for the December 2007, because the Institute doesn't make major changes in the test within the same year, however, it does make big chances from year to year. This means that the June & December 2007 exams are more similar than will be the December 2007 and June 2008 exams. So, don't buy December 2006 materials to study for the June or December 2007 test. Also, many CFA societies offer scholarships that pay for study materials and the cost of the test itself. Visit this link to find your local society http://www.cfainstitute.org/society/societies.html.
If you have any questions about study materials feel free to shoot me an email at JamesUlan@gmail.com.
Good Luck!
