How to Study for the CFA Exam with the Right Study Notes
Studying and preparing for the CFA Exam is tough work. Most candidates use third-party study material from Schweser or Stalla to prepare for the exam, but I personally do not recommend that. I used the original reading exclusively along with my own notes and I passed all three levels on the first attempt. For level 1 and 2 I purchased the full Schweser package, but ended up not even using it in level 2, so I did not bother anymore in level 3.
Here's why I would use the original readings that you got with your registration for the CFA exam: Using other learning material or study notes is tricky, because you really need to understand the original readings, not what somebody else wrote. The questions will be based on the original learning objectives, and to make sure you cover all of these, you MUST read the original books. There may also be errors or confusion in third-party reading material, and CFA institute will not care about that when grading the CFA exam for you. Make sure you stick with the official readings, it's much safer.
If you find the original readings too hard to understand, then you're not ready for the exam yet. It's as simple as that. There really are no shortcuts to the CFA charter. If you need to defer a year, then do that. Getting the CFA is a longer term commitment anyway, so don't feel bad if you have to postpone one or two levels. That you get the charter in the end, and that you fully understand the study material is more important.
I recommend you also make summaries while reading, this will reinforce what you have read and will help you in the review phase. If you have forgotten to make notes for level 1, feel free to check out my CFA Exam Study Notes.
Making summaries is great because it activates your memory in remembering and contextualizing the reading material. It's also a great time saver when you freshen up for previous levels, as some questions may be based on previous reading material in the exam.
I hope this helps. If you have any questions about the CFA exam, just email me on www.financialanalystexam.com.