The CFA Final Week Study Guide
The CFA exams require at least 300 hours of study time each that is spread over 6 months. But if you’ve failed to revise properly and have about a week left for your CFA exam, this may just be the light at the end of the tunnel.
Questions, CFA practice exam and some more questions
At this stage in the CFA cycle, it’s all about running through real CFA practice exam questions. You’ll find out what you don’t know. You’ll also get to practice exam technique.
Spend Saturday and Sunday looking at CFA I question banks.
When you find a question you don’t understand, make a note of it. Group what you don’t know into subject areas and revise the necessary formulae and techniques when your 100 question sessions have finished. Elan offers some helpful free CFAI formula sheets here.
End of chapter questions only
The CFA provides practice questions similar to the ones you already did in the CFA practice exam at the end of every chapter. You do not have enough time to go through the notes so just do all the end of chapter questions. Focus only on the aspects you don’t know.
Tuesday & Wednesday:
CFA practice exam on its on time and revision
You need to start examining yourself with the CFA practice exam, CFA Level I is about timing. On Saturday, you will have just 90 seconds per question. However, it’s only Tuesday and Wednesday and you have the luxury of running through CFA practice exam in your own time. You can find cheap or free CFA I mock tests online.
Revise the notes you made over the weekends.
Thursday & Friday
CFA practice exam with the exact time limit like the real exam
It’s time knuckle down. Endeavour the CFA practice exam in timed conditions. The closest approximation to the exam is provided by the CFA Institute. This is sent to every registered candidate. Beware taking any CFA practice exam (level 1) from previous years: the curriculum may have changed and you could find yourself fretting over questions which won’t recur.
Saturday: Time’s up!
If you manage to pass the CFA I exam having crammed frantically in the last week and slacked before, you’ll be incredibly lucky. You’ll also be exhausted. Saturday evening may involve you lying in bed.