Loading
Guidance
CFA® exam tips and strategies.
Practical guidance for the months before the exam, the hours during it, and the mistakes that cost candidates marks they had already earned.
This guideContents
- Tips17across four categories
- Marked critical8the ones that move the needle most
- Pacing on the day1.5 min/Qroughly, across the paper
- Ethics weight15%and a common source of borderline passes
- Mocks before the real thing2–3the recommended minimum
General guidance only. No preparation approach, this one included, can guarantee an exam result.
Preparation
§ 01Before the exam
The decisions made months out matter more than anything done in the final fortnight.
| Tip | What it means | Importance |
|---|---|---|
| Create a 6-month study timeline | Break down the curriculum into manageable weekly chunks. Allocate more time to heavier topics like Financial Statement Analysis and Fixed Income. | Critical |
| Focus on weak areas early | Identify your weakest topics in the first month using WSU analytics. Don't wait until the final weeks to address major gaps. | High |
| Practice questions beat reading | After covering a topic, immediately practice questions on WSU. Active recall beats passive reading for retention. | Critical |
| Master ethics early and review often | Ethics is 15% of the exam and can boost borderline scores. Review it every 2-3 weeks throughout your prep. | High |
On the day
§ 02During the exam
Most marks lost on exam day are lost to pacing and misread stems, not to gaps in knowledge.
| Tip | What it means | Importance |
|---|---|---|
| Time management is everything | You have roughly 1.5 minutes per question. If you're stuck after 2 minutes, flag it and move on. | Critical |
| Read questions carefully | Watch for keywords like "least likely", "most appropriate", and "except". These reverse the question logic. | Critical |
| Use process of elimination | On tough questions, eliminate obviously wrong answers first. This improves your odds significantly. | High |
| Don't leave questions blank | There's no penalty for guessing. Always select an answer, even if you're unsure. | Critical |
| Flag and return strategy | Flag difficult questions and return to them if time allows. Don't let one question derail your timing. | High |
Method
§ 03Study strategies
How you study changes retention more than how long you study.
| Tip | What it means | Importance |
|---|---|---|
| Spaced repetition works | Review material at increasing intervals (1 day, 3 days, 7 days, 14 days). WSU helps you track this. | High |
| Active learning beats passive reading | Summarize concepts in your own words, teach others, or explain to the WSU Assistant. Active engagement means better retention. | Critical |
| Practice under timed conditions | In the final phase of your study plan, simulate exam pressure with strict time-limited quizzes to build speed and confidence. | High |
| Mix topics in your practice | Once you've built a solid foundation, switch to mixed-topic practice to strengthen retention and real exam performance. | Medium |
Pitfalls
§ 04Common mistakes to avoid
Four failure modes that show up again and again in candidates who fall just short.
| Tip | What it means | Importance |
|---|---|---|
| Don't neglect lighter topics | Alternative Investments and Portfolio Management seem small but are easy points. Don't skip them. | High |
| Avoid cramming | Last-minute cramming leads to poor retention. Consistent daily study beats weekend marathons. | Critical |
| Don't rely only on third-party materials | Use WSU alongside official CFA curriculum. Third-party materials complement but shouldn't replace official content. | High |
| Don't skip mock exams | Take at least 2-3 full mock exams before the real thing. They reveal timing issues and knowledge gaps. | Critical |
Exam day
§ 05The morning itself.
Four things worth deciding in advance, so they are not decisions you have to make while nervous.
- Arrive earlyGet to the test center sufficiently early to familiarize yourself with the environment and reduce stress.
- Stay calmDifficult questions are a normal part of the CFA exam. Maintain a systematic approach: read precisely, eliminate incorrect options, select the best answer, and keep your pace steady.
- Trust your preparationDon't second-guess yourself excessively. Your first instinct is often correct if you've prepared well.
- Manage energyBring approved snacks. Take the break between sessions. Maintaining energy is crucial for 4+ hours of testing.
Practise the pacing on a full mock exam: they run 4h 30m in two sessions of 2h 15m, exactly as the real one does.
Put the guidance to work.
Two days of full access, no card required. If you continue and it is not right for you, the first seven days are refundable in full.
Wall Street Uni is an independent study platform and is not affiliated with, endorsed by, or sponsored by CFA Institute. No preparation approach can guarantee an exam result.