How to Pass the CFA Level 1 Exam in 2024

Here are the 6 strategies I used to pass the CFA Level 1 Exam on the first attempt.

Link to the video course:

First and maybe most important, was the amount of hours of studying. And let me direct, the common notion of 300 hours is NOT ENOUGH for 95% of CFA candidates.

0:00 - Study Hours
3:23 - Daily Routine
7:19 - Study Materials
9:10 - Mock Exams
11:26 - Formulas

If you have an idea of something you want me to cover in depth, please let me know because I take your requests seriously. Will be back with more CFA Exam tips in a couple of weeks so please submit more questions you would like to hear answered. Love you all!

- AJ

Let’s connect:

*** The information in this video is not intended or implied to be a substitute for professional financial advice. All content, including text, graphics, images, and information, contained in this video is for general information purposes only and does not replace a consultation with your financial or tax professional***

[Game-yllh]

There are no genuses, only hard and constant work!

[Nigel]

A piece of good advice that I received early on in my CFA journey was to aim for 70%-80% marks (with exam day buffer) on mocks as the MPS is close to 60%-70% depending on level. Ignore the hours because 1) everyone learns at a different rate 2) the exam tests for content mastery not time spent studying 3) hours given a false sense of complacency

[BigAl-qlse]

I just took the exam today and took your advice of memorizing formulas the week before. I don’t know how I did but that tip certainly came I handy. Thanks!

[gradoscapital]

Thank you AJ! Taking level 1 in February. For me it is going to be the most important to pass the first try because I am not currently working in the industry and looking to get in after passing level 1.

[daviddenicola]

Just to give another angle on this: You don't need the books. I passed without reading a single page in all 3 levels using the God Mark Meldrum. Passed all levels on the first attempt and L1 and L2 in the 90th percentile. Total hours: 1200 (L1 400, L2 450, L3 350). Never did the blue box examples. Just did EOC questions multiple times and 8 mocks mostly from CFAI. What makes this possible is starting 8-10 months in advance and finishing the material 2.5 months before the exam. Once you finish material, review for 2 months and do EOC questions again. The last 2 weeks I took off from work and did a mock exam each day and reviewed all the material using Mark's review videos multiple times and did EOCs AGAIN. Felt I passed in each of the exams. L3 was the hardest exam but easiest content while L2 exam was the easiest but hardest content. Keep in mind I passed L1 and L2 working as dietitian, so anything is possible.

[RonnieSportz]

I have a wife, 6 kids, and a full time job. I have a mechanical engineering degree with no background in finance. I’m studying for CFA 1. I just got through Quant. I can tell you without a doubt it will take me 400+ hours to consume this information.

[aidabapt]

Totally agree with this...that 300 hr trap is the reason i failed before...level 2 i put in 450 hrs give or take to pass and when i passed level 1 it was not as many hours of study as level 1 but it was probably around 350 or so at least if i remember correctly

[kodiakgriz]

Oh those fond memories of juggling studying with family work holidays football travel....whew almost forgot in my rearview;

[NerreraFightStories]

I have a question for you regarding formulas. I am aware of the formula memorisation strategy the week before the exam.

My question is regarding doing practice questions on questions where I need the formula. How should I be doing these to make progress if I don't know the formula off by heart? Open-book? Ignoring them?

Thanks

[eylulkaraduman]

Hi AJ, I have registered with Kaplan's level 1 prep course and currently using CFA's online Learning Ecosystem. I wanted to ask if you also recommend to get the the CFA's books in addition to what Kaplan provides?

[josefelipemontes]

Great Content, Can you please provide me with the link for the formulas sheet? Thank you before hand!

[terryzhou]

Thank you AJ, for another video on CFA Exam prep!. I am currently enrolled in level 1 in February and I am using materials from CFA Learning Ecosystem (LES) for studying for the exam. You are referring to ELC and bluebox questions in your video. Are you referring to LES or something else I missed?

[shahzebhanif]

please make a video for L3 as well. Thanks

[sanchitvishwakarma]

Hi, AJ can you make video on how AI could impact some leading roles in finance and what kind of impact can we see in the next 5-10 yrs in the job market, BTW you make great content

[derrickmokua]

I am dedicating 4, 000 hours for each exam. Not taking any chances

[santyv]

Thanks ! Any suggestions on when i should start taking practice questions from Qbank ? Should i do it as i course through the LOS from Kaplan notes or should i do it after i complete preparing one subject completely ?

[husseinarslan]

When i study corporate finance 2 hour and then i solve and later i finish, why i forget it?

[mohammadali-rpds]

300 hours are for genius and for ordinary 500 hours are at least.

[husseinarslan]

Memories all materials and understanding or just understand?

[aqxalor]

Hey AJ! If you were to make a strategy for someone who only has one month to take the exam but has not studied before, what would it be? I know passing in that time frame is difficult but let's say someone tries. What is the best way to approach the exam with a month left to go and starting from scratch