I started two Saturdays away from the actual test having done no more than a cursory glance at my books beforehand. And somehow, incredibly, I managed to pass.
Over the course of the Christmas holidays, I wrote my experience down. I believe a significant factor that allowed me to pull this off was my background, both in work and education. I was also a management consultant for investment banks and wealth managers.
Consultant projects range from several weeks to several months, and having 3 years experience at the time, I had a wide range of knowledge and expertise across several financial sectors. My biggest mistake was to underestimate how little time and drive I would have for the exams. I always did well in exams in the past and thought that this would be just like the others.
Although the exam itself was probably not too different in difficulty, balancing it with work was the problem. I was rammed with a high-pressure project about 3 months before the exam, working hour weeks.
As the exams approached, I had two choices — either forgo the exam and waste the money I paid for the signup fees and materials, or try and pass with by the skin of my teeth. I took a full 10 working days off to study for the CFA Level 1. That was already a very painful sacrifice, but nothing compared to what I had to endure in the following two weeks.
