How to ace the CFA exam in just three weeks

It's approaching the end of April. Everyone tells you that it's too late to begin studying for the CFA exam. Your degree of anxiety rises.

Is this something you've heard before? It's pretty much the same predicament I was in a few years ago, only now I'm registered for both the CFA Level II and the FRM Level I exams. I've successfully demonstrated that it's possible to make it in such a short amount of time.

On average, 300 hours of study time is required to pass one level of the CFA exam on the first try.

If you have three weeks or twenty-one days, you should study for about 14 hours per day. Because you have an advantage over your peers who started much earlier, you can make it in 12 hours a day. They'll have to go over material they learned three months ago – you won't!

1) With the exception of CFA, postpone everything.

Most CFA applicants fail the exam not because they aren't smart enough or because they don't have enough time, as it may appear. Their main issue is a lack of complete concentration. Because Level II material is more in-depth than Level I and needs you to make inferences from what you've learned, it's nearly difficult to prepare for it in three weeks while multitasking. Reschedule all appointments with friends, Sunday brunches with your grandmother, cancel your gym membership, and lock your phone's YouTube, Facebook, and Instagram accounts. Only the CFA Institute app is permitted — and only during coffee breaks. Send your husband and kids to the greatest all-inclusive resort you can find, preferably in a different time zone...

2) Purchase quality preparation supplies.

A pen, a pencil, a sharpener, an eraser, your calculator, a notebook, and decent preparatory materials are all you'll need. If you choose the 3-week turbo option, make sure you have books that are well-organized and concise. You won't have enough time to read all of the CFA books available. I went with Schweser and was quite pleased with my decision.

3) Put a little peer pressure on them.

Although everyone is different, most of us perform significantly better when under peer pressure. Instead of staying at home, go to the nearest library. Collaborate with others who are studying for the CFA. Use lunch and short coffee breaks to socialize (after all, it'll be your only chance to do so for the next three weeks) and to talk about the most challenging issues, problems, and general worries. Remember: a little bit of peer pressure is beneficial, but too much peer pressure is harmful.

4) Right after the exam, make an excellent plan.

Preparing for the CFA is a time-consuming process. I remember being overjoyed to return to the office and see more than CFA books in the black-white-green color scheme! After you pass your CFA exam, make a fun plan. Put something like a brief beach getaway, a visit to the coolest bar, a spa day, or a Counter-Strike game day with your pals on your schedule instead of running a marathon or conquering Everest. While studying for this exam, positive motivation is crucial!

5) No matter how far along you are, save the last five days before the exam for mock exams only.

These are the most crucial five days of your whole preparation procedure. Solve as many fake tests as you can - at least five – one for each day of the week. Make no attempt to take any shortcuts. The most efficient method I discovered was to: a) complete 1 vignette of tasks, b) verify how many of the answers are accurate, c) record the result to track progress, d) look over each solution in detail, e) complete the tasks in the following vignette, and so on.

6) Get at least 8 hours of sleep the night before the exam.

The exam is both mentally and physically challenging, therefore you must be in top physical condition. Don't even consider studying the night before – it's a surefire way to fail. You'll probably make it through the morning session, but you'll almost certainly flunk the afternoon one. Request that your neighbors postpone their graduation party or kitchen renovation. If this isn't possible, reserve a room in a quiet hotel near the CFA exam location.