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The Chartered Financial Analyst Program
CFA FAQ
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We compiled a list of questions commonly asked by candidates about studying and taking the CFA - particularly those taking the Level I examination.
Q: Which calculator is better - the Texas Instruments BAII or the Hewlett Packard 12C?
A: Both calculators are accepted by AIMR for the CFA exam and we believe it is up to user preference to decide which is the better calculator to use. However, based on our past experiences, we find that the BAII is somewhat more user friendly and reliable.
Q: Can I pass the CFA with only 2 weeks of studying?
A: Of course you can, but we wouldn't advise it. Even if you have a background in finance or have several years of work experience, most candidates would not have covered all of the material on any of the levels. We believe that the CFA is a learning experience and the aim, although to pass, should be more on learning all the material and thoroughly understanding all aspects.
Q: How many hours a day should I study?
A: Honestly, that depends on the candidate. Some individuals find it easier to absorb material than others. Study a topic until you feel that you understand it clearly and can answer questions thrown at you.
Q: How useful is the CFA designation for my future career?
A: The answer to this one would be mostly based on individual opinion. However, if your future aspirations is to work in or continue to work in the general field of finance as an analyst, the CFA designation would be beneficial - particularly for those who lack work experience and formal training in finance. Particularly, if you are an engineer, scientist, or have worked in a non-finance field, then the CFA designation would probably be the best thing to consider if you hope to break into the industry. The only thing we would say is that the further into your finance career you are, the less useful the CFA is likely to be - mainly because most of what you learn in the CFA, you would most likely have picked up during your years of experience. This is more a matter of assessing your investment vs reward.
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