Level I CFA® Program exam candidates,
We know you've put the time in to prepare yourself for the upcoming Level I exam. The good news is that you will have your lives back in less than a week.
Don't panic and waste the last few days before the exam. Instead, prepare strategically. Here's what you should be doing with the precious remaining days:
Two Days Before Exam: Final Revision
Review anything that gave you heartburn this semester. Common topics include:
- GIPS (The whole of Reading 5)
- IFRS vs. U.S. GAAP (see this article)
- Diluted EPS
- Forward/Spot rates
- Asset/equity beta
- Portfolio standard deviation
- Other problematic formulas
You may also want to read our revision posts for Corporate Finance, Portfolio Management, Equity Investments and Derivatives. Make sure you've covered all bases with our Key Tips for Ethics, Corporate Finance, Financial Reporting & Analysis, Quantitative Methods and Economics.
I'd be a bit worried if it comes to this by now, but here's also our last minute cramming guide.
One day before exam: Eat, Destress, Sleep
Ask any professional sports athlete - be it a marathon runner or a power lifter - and they will tell you to rest before game day. More specifically, rest your mind by going on a Netflix marathon, shopping spree, or a gathering with friends. Make sure you are relaxed and be confident that you have prepared enough.
Make sure to get plenty of sleep the night before the exam so that you can do your best.
Exam Day: Your exam journey has come to a head!
Feel extra confident with your trusty calculator by your side (make sure it has batteries!) because you've memorised your Mean, Standard Deviation, and Standard Error (Texas Instrument BA II Plus) and Modified Duration (Texas Instrument BA II Plus) calculation steps.
You can also double check that your answers are on the right track with this quick method.
From all of us at AB Maximus, we wish you the best for your Level I exam. We look forward to seeing your registration for our Level II exam prep course.
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About the Author
Darren Degraaf, CFA, CPA, MBA, MAFM, PRM, is the revision expert in AB Maximu's CFA® Program exam prep course. He is currently adjunct professor of the Sauder School of Business in the University of British Columbia and director of Instructional Management for the Stalla Review for the CFA Exams Division of DeVry University. Before an international career in CFA® Program exam prep, he worked in HSBC for almost 20 years.