Reasons Why Practice is Key to Succeeding in Your CFA Exams
The CFA exams are very known as one of the most difficult exam sand yes they are! But it is also possible to come through it successfully only if you know how to prepare yourself well for this challenge.
You need to allocate more and more hours for your study and need to be constantly on revision for this. You can’t skip even a single day or week sitting idle or taking rest. Because CFA mock exam is huge and leaving it even for a short period of time is not wise at all. You need to make a perfect study plan and need to be a strict teacher of yours to make you follow this. You can never think of giving your CFA mock exam a short-cut. That means you will have to go through each and every chapter. You can’t choose some chapters on a priority basis and leave rest for the secondary priority. This is not the case when it comes to your CFA mock exam. Keep your focus clear and study everything.
We’ve all heard the quote practice makes perfect, and the wise human being that said that surely knew what they were talking about.
Getting through 6–7 CFA mock exams is a very good way to assure yourself you’ll do well in the finals!
They teach you about the key topics
A CFA mock exam, be it from CFA Institute or a third party prep provider, will be weighted with the similar topic weightings as stated by CFA Institute. By working your way through practice exams your mind automatically gets taught what topics are important. This will come in handy as you review topics — as you encounter key topics you will remember ‘ah, I came across something similar in Practice Exam B, better pay more attention to this’.
You become aware of the exam structure
Doing a CFA mock exam (or even better, a fully timed and marked practice exam) early on obviously alerts you to all these kinds of niggles that you may have overlooked. Timing, exam formats, wording style, and question types — you get a feel for all of this when you hammer out practice exams.
It helps you retain what you’ve already studied
Reading through the study notes is obviously important — it introduces you to new concepts, formulae and calculation methods from each chapter. But going through practice exams is what drives it fully home into your brain. Due to the amount of material in each CFA level, there is also a tendency for candidates to forget earlier chapters they’ve read. A practice exam brings it back as it tests the entire curriculum at once.
You can read all about riding a bicycle, or how to swim from textbooks all you want. But in the end, you need a certain amount of practice to get used to the feel of how the real thing is.
By simply aiming to complete more practice or mock exams, you can massively improve your passing chances. Don’t pass this up — try and get through as many as your prep time will allow.