Summary of "IS CFA LEVEL 1 A CAKEWALK? | PODCAST WITH URVI JAIN CFA LEVEL 1 QUALIFIED@thewallstreetschool"
Podcast Interview with Urvi Jain: CFA Level 1 Preparation Insights
This video is a podcast-style interview featuring Urvi Jain, a CFA Level 1 qualified candidate from Bangalore. The discussion is conducted by an instructor from The Wall Street School and covers the difficulty level of the CFA Level 1 exam, preparation strategies, and the practical benefits of the CFA program.
Key Points
1. Background of Urvi Jain
- Strong academic record:
- Topped 10th grade with A* grades.
- Scored 95 in 12th grade Science and Economics.
- Achieved a 3.5 GPA in undergraduate studies at Ashoka University, majoring in Economics and Finance.
- Currently working at an audit consulting firm in Bangalore while preparing for CFA Level 1.
2. CFA Level 1 Preparation Journey
- Preparation spanned about 6-7 months while working full-time.
- Studied 3-4 hours on weekdays and 6-9 hours on weekends, totaling roughly 40 hours per week.
- Took two weeks off work before the exam for focused revision.
- Emphasized meticulous planning to balance work, health, and study time.
3. Study Methodology
- Attended classes and practiced rolling revision—revising subjects continuously rather than only at the end.
- Did not take notes during live classes but made detailed notes while reviewing recorded lectures.
- Focused heavily on solving end-of-chapter (EOC) questions from the CFA curriculum (“C book”).
- Maintained an error log to track mistakes and learn from them.
- Repeated question practice extensively, solving over 1000 questions multiple times, especially in the last month.
4. Revision Strategy
- Advocated for rolling revision to improve retention and understanding.
- Recommended starting mock exams 1.5 to 2 months before the exam.
- Emphasized practicing mocks under exam-like conditions without cheating or premature answer checking.
- Stressed that no shortcuts or topic-skipping are advisable since questions can come from any part of the syllabus.
5. Ethics Preparation
- Ethics is a crucial section requiring multiple readings (3-4 times) of the CFA Candidate Resources book.
- Urged not to skip or skim ethics content; understanding every standard and guidance is important.
- Suggested daily small study sessions to manage the dense and sometimes monotonous material.
6. Use of Study Materials
- Besides CFA Institute materials, Urvi used premium question banks and classes from The Wall Street School.
- These resources helped deepen conceptual understanding and identify knowledge gaps.
7. Post-Level 1 Plans
- Plans to prepare for CFA Level 2 with a longer preparation period (around 10 months) due to its complexity and case study-based questions.
- Intends to continue working while studying.
- Aims for career advancement, potentially reaching senior associate or partner level in her firm.
- Appreciates the comprehensive and updated CFA curriculum, including emerging topics like crypto and AI/ML.
8. General Advice from the Instructor
- CFA Level 1 is not inherently difficult but requires consistent effort, discipline, and proper planning.
- Multiple revisions and thorough question practice are keys to success.
- Avoid shortcuts and maintain humility and a strong work ethic throughout the journey.
Speakers in the Video
- Urvi Jain – CFA Level 1 qualified candidate and interviewee.
- Karan Sir (or the interviewer from The Wall Street School) – interviewer and CFA instructor.
This podcast provides practical insights into CFA Level 1 exam preparation, emphasizing disciplined study, thorough revision, and realistic expectations about the time and effort required. It also highlights the value of the CFA credential in career development.
