Interested in CFA designation have a couple questions.?

Question

I am currently working as Forensic Accountant and looking to get into the financial and investment services industry. I haven't yet deceided on what I want to get into although alternative investments, hedge funds and the like interest me. If I do deciede to take the CFA approximately how many months should I plan to study for the level one assuming I have three years accounting experience and a dual bachelors in accounting and business? The next exam is in December and the one after that is June so I am not sure if I should wait a whole year. I have a few more questions but this would be a good starting point. Thanks for the help!

I currently have three years of work experience and a dual bachelors in accounting and business. In reviewing the CFA website it is my understanding that I need eithe 4 years of college with a bachelors degree or 4 years of work experience. Am I correct?

Answer 1

Hi, i took level 1 last June and am currently waiting for my results for level 2. With that kind of backround you should be alright but you still have to put in the time. I would suggest studying at least 5 months. About 2.5 should be going over the material and the rest of the time should be taking practice questions/tests. Also, i used Schweser Notes. I don't know anyone who uses the text books CFA Institute offers.

Answer 2

How many months you need to study depends on how much time you can devote to your studies per week. The CFA Institute suggests that most people need about 200 hours of independent study to pass one of the exams. Whether you want to do it in one month or twelve is irrelevant.

Also, keep in mind that so far you have no work experience to qualify for the CFA Charter. So even if you hurry up and pass all three exams in two and a half years while staying in your current job, you will still be four years away from the Charter.