To effectively manage the stress associated with the CFA exam, it is essential to take a proactive approach and establish a well-structured study plan for the CFA exam. The CFAI recommends dedicating a minimum of 300 hours to studying for each exam level. Whether you plan to take the exam soon after finishing your university studies or combine preparation with a full-time position, it's essential that you start studying well in advance and intentionally dedicate time to review sessions in your busy schedule. Not surprisingly, those who experienced high levels of stress were less confident in their ability to pass the exam.
Set realistic goals and remember to celebrate small accomplishments throughout your CFA exam process. Participating in study groups and participating in CFA exam preparation courses provide exceptional opportunities to meet other candidates. While preparing for the rigorous CFA Level 1, 2, and 3 exams can be challenging, it's important to remember that stress and pressure don't have to be overwhelming. Unfortunately, the CFA level 2 exam is different, as it has a reputation for being the most difficult exam and the one that contains the most material to cover.
While there may be a temptation to consume excessive caffeine during study sessions first thing in the morning, it is essential to be careful, as excessive consumption of caffeine and alcohol can contribute to increased stress levels. Unless, of course, you passed level 1 like Sophie and are trying to pass the CFA in 18 months, in which you can do it in 4 months (with some determination). If you engage in conversations with candidates who have already passed the exam level you're looking for, you'll have a clear idea of what you can expect. If a question doesn't answer you even after more than 5 minutes, mark it and fold the page if you have time left. My rule is to control the time after each vignette, and also every hour, so that at least I try to maintain the average time, that is, if I spend more time on problems at the expense of theories.
Preparing for the CFA exam can be a daunting task, given the enormous volume of material that needs to be covered, the pressure to overcome it, and the little time available in an already busy schedule. Many level 2 concepts are based on the basic concepts described in level 1; having a good foundation in level 1 helps. We believe that these recommendations will give you confidence as you face the challenges of reconciling the CFA exam, work and personal life.
