The CFA exam is one of the toughest finance exams in the world. Many students feel nervous at first. But with the right plan and dedication, you can pass it. If you are wondering how to prepare for CFA, the answer lies in starting early, following a schedule, and sticking to your plan every week. The CFA exam tests your finance, ethics, accounting, and investments knowledge. So you need to study smart and not just study hard.

You should start CFA preparation at least six months before the exam. The CFA Institute recommends 300+ hours of study for each level. You must create a plan that includes reading, solving questions and taking mock exams. The key is to stay consistent and revise often. Many students in India also use coaching centres or CFA study groups to stay motivated. These help you clear doubts and practice with others.

CFA Exam Structure

Before you start preparing, you must know what the CFA exam looks like. The CFA program has three levels, each checking your understanding of finance topics differently.

Know the Format and Subjects

Each level of the CFA exam covers multiple subjects, such as

• Ethical and Professional Standards
• Quantitative Methods
• Economics
• Financial Reporting and Analysis
• Corporate Finance
• Equity Investments
• Fixed Income
• Derivatives
• Portfolio Management
• Alternative Investments

For Level I, the exam is all multiple-choice questions. For Level II, it has item sets (mini case studies). For Level III, it has both item sets and essay questions. You must understand this format before you build your study plan.

Difficulty Increases with Each Level

CFA Level I check your basic concepts. CFA Level II tests how you apply concepts. CFA Level III focuses more on portfolio management and real-world application. You must prepare harder as you move up. So, your strategy must also change at each level.

Knowing the structure helps you make a plan that fits the exam format. This makes your preparation smooth and focused.

How to Prepare for CFA Exam?

Preparing for the CFA exam requires a serious commitment. The CFA Institute recommends at least 300 hours of study for each level. This means you must create a clear schedule, choose the right study materials, and revise regularly. Many students fail not because they are not smart, but because they don’t follow a proper plan. To succeed, you must start early, understand the exam format, and practice mock tests often.

Make a Study Plan That Works

You need a study plan to finish the vast syllabus on time. Many students struggle because they don’t follow a fixed routine. You must make a weekly schedule and follow it every day.

Start Your Preparation Early

Start preparing at least six months before the exam. Divide the syllabus into weekly goals. Spend 12–15 hours per week. This gives you enough time to read, revise, and practice.

Build a Weekly Routine

Split your week like this:

• 3 days for reading new topics
• 2 days for solving questions
• 1 day for revision
• 1 day for mock or rest

This way, you touch each topic multiple times before the exam.

Use a CFA Study Planner

Use a planner or digital tool like Excel or mobile apps to track your progress. Note down chapters covered, pending topics, and time spent. This keeps your efforts focused.

Add Breaks and Buffer Weeks

Keep 2-3 weeks at the end only for revision and mocks. Also, add short breaks after every 2–3 weeks. This helps you stay refreshed and avoid burnout.

Use CFA Official Curriculum First

Many students skip the CFA books and jump to third-party materials. But that’s not the best idea. Always start with the CFA Institute’s official curriculum.

Why Use Official CFA Books?

• These books come directly from the exam creators.
• They cover all Learning Outcome Statements (LOS).
• They explain concepts clearly with examples.

If you ask how to clear CFA on the first attempt, using the CFA curriculum is a key step.

Use Third-Party Guides Later

Once you finish the official books, you can use guides like Kaplan Schweser, Wiley, or FinTree for revision. These books save time during your second or third reading.

Use both resources wisely. First, read official books to understand the situation completely. Then, use notes and summaries for fast revision.

Practice as Many Questions as Possible

Just reading books will not help. You must solve questions regularly. The CFA exam tests how well you can apply your knowledge under pressure.

Use the CFA Learning Ecosystem

CFA Institute provides a question bank and quizzes in their online Learning Ecosystem. Solve these after reading every topic. They match the authentic exam style.

Buy or Join a Mock Test Series

Enroll in the best CFA mock test series available online or from your coaching centre. Try to take 4–6 full mocks before the exam. These help you build speed and accuracy.

Review Your Mistakes

After each mock test, spend time reviewing mistakes. Check which topics you got wrong. Make short notes of those topics and revise them again.

Practising questions also improves your time management skills. You learn to answer quickly without guessing.

Focus Strongly on Ethics and FRA

Many students ignore Ethics and Financial Reporting & Analysis (FRA), but they carry a high weight and affect your results directly.

The Ethics Section Is a Game-Changer

The Ethics section is tricky. Even if you score well in other areas, poor Ethics scores can hurt your overall performance. Study the Ethics handbook carefully. Go through real-world examples and tricky questions.

FRA Needs Concept Clarity

FRA is one of the longest and toughest topics in CFA. It includes accounting rules, balance sheet reading, cash flows, ratios, and adjustments. Practice is the key here.

If you want to know how to prepare for CFA effectively, master Ethics and FRA. These two subjects can make a big difference in your results.

Join a CFA Coaching or Study Group (If Needed)

Some students study alone. Others prefer joining coaching or study groups for support. Both methods work. You must pick what suits your style.

When to Choose Coaching?

• If you have a job and less time to study.
• If you need help in understanding concepts.
• If you need a fixed class schedule to stay on track.

Coaching helps with doubt-solving, mock exams, and planning. Institutes like FinTree, EduPristine, and IMS Proschool offer CFA classes across India.

Benefits of Study Groups

If you prefer peer learning, form a CFA study group. Discuss tough topics, share resources, and quiz each other. Study groups increase motivation and reduce boredom.

Many students use both coaching and study groups. You can mix them based on your needs.

Revise and Take Mock Exams Seriously

The last few weeks before the exam are very important. You must spend this time revising all topics and giving mock exams.

Start Full Revision 4 Weeks Before

Use the last 4 weeks to revise every topic at least twice. Focus on formulas, Ethics rules, and shortcuts. Make a checklist of all subjects and mark your revision status.

Take at Least 4 Full-Length Mock Exams

Attempt 4 to 6 full-length mocks in real exam timing. Sit in a quiet room and follow the actual rules. This builds your stamina and confidence.

Improve with Each Mock

Check your performance after every mock. Note down weak topics. Revise them the next day. This keeps improving your overall score and removes fear.

Mocks also help you understand how much time to give each section. This reduces silly mistakes in the real exam.

Keep a Healthy Routine and Stay Positive

Preparing for CFA takes many months. Your health, sleep, and mindset affect your study a lot. A positive routine helps you perform well.

Maintain Proper Sleep and Diet

Sleep 7–8 hours daily. Eat healthy food. Avoid junk and sugar. Exercise or walk daily for 20–30 minutes. These small habits improve focus and energy.

Avoid Burnout

Don’t study for 10–12 hours daily without breaks. Take regular breaks. Listen to music, talk to family, or take a short nap. These refresh your brain.

Stay Confident

Keep telling yourself, “I can do this.” Positive self-talk works. You are not alone. Thousands of Indian students crack CFA every year. You can, too.

 How to Prepare for CFA FAQs

Q1. How many months are enough to prepare for CFA?

Six months is the ideal time. You should study 10–15 hours per week for at least 300 hours in total.

Q2. Can I clear CFA without coaching?

Yes, many students do self-study and clear CFA. But coaching helps if you need structure or doubt-solving.

Q3. What is the best CFA exam study strategy?

Use CFA official books, solve questions, revise regularly, and take mock exams. Practice Ethics and FRA in depth.

Q4. How do you prepare for CFA with a full-time job?

Study early mornings or evenings. Use weekends for revision and mocks. Follow a weekly plan and stay consistent.

Q5. Which are the best CFA mock test series?

Kaplan Schweser, Wiley, and FinTree provide good mock test series. CFA Institute also gives one free mock.