Updated: Mar 14, 2020
It is a misconception that if a candidate joins CFA classes at an institute, they will definitely pass the exam. Globally, percentage of candidates that pass the CFA Level 1 exam hovers around 40 – 45%. It has been observed that this statistic only improves by 5 – 10% for candidates that are enrolled in classes. A lot depends on a candidates own efforts and how he/she utilizes classroom training in order to achieve success in the CFA program. Five tips to maximize your learning through classroom training are highlighted below:
Classrooms provide clarity of concepts, however to retain the material on D-day, you have to review it multiple times and practice questions under exam like scenario. It is unlikely that you will pass the exam by only attending classes.
2. Read the material beforehand
It is natural for the human brain to take some time to grasp a new concept. You may not be able to understand everything that is taught in class. However if you are familiar with the material before you enter the class your grasping power of the same concept will increase manifold.
3. Stay on schedule
It is advisable to create a schedule before you start your preparation. However often times, unexpected events can derail you off course and motivating yourself to getting back on track becomes a major challenge. Classes and your classmates help you push yourself in order to stay on track.
4. Network with colleagues
Other candidates in the classroom are all future senior finance professionals or CEOs. Keeping in touch with your classmates can help you get opportunities in terms of better jobs or lucrative business deals. Capitalize on this network as you would with your college or business school alumni.
5. Help others – “teaching is the best form of learning”
If there is an opportunity to help a fellow classmate, be the first one to grab it. It is only when you explain a concept to someone is when you enhance your own level of understanding. Be patient while explaining as not everyone may be from a financial background.
Share your experience of how else you benefitted form classroom training.