Happy to announce that I won the CFA University Scholarship 🙂 I will be giving the L-I exam next year in Jun 07.
For now, I have only done three study sessions of Financial Statement Analysis (which I think that I have already forgotten) and some Economics. The syllabus runs for 50 PAGES! I try and study only CFA stuff on FRiday Saturday and Sunday and focus on MBA work Mon-Thurs. Yes, its very difficult. I dont get much time to sleep or take a shower for that matter 😛 Very often, I sleep at 3 am and wake up at 8:30 am to go for work. Its exhausting, but I hope that it will be rewarding at the end. It’s a long road.
There will be two more levels to be taken after this one. Then, 4 yrs of work experience in the “relevant” field..yet to find a job that will interest me. Big Four Companies- WHERE ARE YOU GUYS? I’m waiting!!! 😛
I’m following some basic rules while studying. Here are some tips for people who plan to take the exam:
1. The amount of time/labor that will be needed depends a lot upon your background in Finance. I try and put in about 15-20 hours of studies every week.
2. Try to complete one study session every week. You will have to come back and revise it later.
3. I plan to complete everything once by December this year. Starting Jan, I will start my second revision. May onwards, I’ll do one final “cleaning” session- Get all the bugs out of the way!!
4. Make index cards while reading. This way, you dont have to open the textbook if you want to look up a concept. I did this for FSA and it’s really helping me. It may be time-consuming, but believe me, you will spend lot lesser time this way than going back later and opening your textbook to search for something.
5. Write and learn. Draw as many diagrams as possible. This helps you clarify concepts.
6. Re-read as many times as needed until you are absolutely sure that you have understood every nut and bolt for a particular reading assignment.
7. Read the LOSs once before starting a chapter, and then read them again after finishing the chapter to see if you know everything in the LOS.
8. Oh, ask your significant other not to disturb you too much 😛 😀 And save the boozing sessions for the day of the results!
9. KILL THE MONSTER THE VERY FIRST TIME!!!! That’s the best approach 🙂
P.S- As per Shravan’s request, please read his blog whenever you need to “increase” your concentration!
Time and Again 
HAhahahahaha… Okay, I’ll edit my post and write that ” Read Shravan’s post between study sessions…They are a good way of improving your concentration”…hows that?
Congratulations. That is a more practical course than CA. Try to also study Technical analysis of shares on the side. That is not covered in the syllabus but is worth knowing.
In addition to other activities, try to know your real working identity- Make your passion your profession
Hiren,
just a lil curious..are you talking about the CFA Insti. (based in US) or the course offered by ICFAI (Hyd)?
Hahaha..yes that insti. is in Hyderabad…(as far as I know, I;m not too sure..it may be having branches)
Cool Congrats fr the scholarship..U r constantly breaking ur benchmarks..Gud!
I think i have to start working now, seeing you. else i wont deserve to talk to u! haha..
BEst of Luck.
congrats for the scholarship…. man it is an amazing course ans u got so much to learn from it…and if u interested in Technical analysis use the Spider software…fantastic software!!
Shravan,
Because it doesnt make sense, it’s funny! hahaa