Worried about passing a series of tests to become a Chartered Financial Analyst (CFA)? Well, enrolling in a CFA prep course can help you learn the most effective study technique. The prep course will teach you the concepts needed to clear the CFA exam, thus maximizing your chances of passing it.
However, with a remarkable increase in the number of prep course providers, you may face difficulties in choosing the best one out of a wide array of choices. That’s why this guide outlines some of the essential factors that you should consider while choosing the best CFA program prep course provider.
- Ask for Suggestions
If you know people personally who have successfully studied and passed the CFA exam, then your first task should be to speak to them. Do not hesitate to ask them which CFA exam study materials did they use or how did they manage to prepare for the exam.
No worries even if you don’t know any CFA personally! In that case, you can look for local or regional CFA society and check if any of their members would be willing to share their experiences.
- Years of Experience
While some CFA course prep providers just entered the market, others have been offering the CFA exam prep question banks, practice papers, and notes for over a decade. The more years of experience of the prep course providers, the more you can be assured that their products are highly effective for the CFA exam preparation.
Please note, a complete understanding of the CFA examination process can only be achieved with several years of experience. Of course, you would never want to be studying with a newbie provider who is still on the learning curve.
- Expert Faculty Members
It is very important to choose a CFA course prep provider who offers materials written by authors holding the CFA designation. Not only that, but you should also check the number of their faculty members who are Chartered Financial Analysts.
Remember, you should always rely on the instructors who have successfully navigated the CFA exams themselves. This is the key to avail of the best CFA prep courses and mastering the exams.
- Reliable Study Materials
Did you know that ineffective CFA course learning methodology and study practices are the primary reasons for CFA candidates’ failure? This is often the result of university study habits such as reading and note-taking. However, learning science helps in understanding that these methods are highly ineffective ways of studying for CFA exams.
So, always consider choosing a prep course provider who incorporates the insights from learning science into their study practices. Effective learning methodology ensures reliability in the CFA course prep study.
- Volume of Question Practice Papers
While a reliable learning methodology ensures effective CFA course study, practice question banks help the candidates to work on their weak points. Therefore, you should always check if your chosen provider can offer you a huge volume of question practice papers.
Your prep course provider should always include the questions in the study notes as well as the online question banks. Make sure that the online question banks are customizable so that you can specifically work upon all your weak points.
- Feedback From the Candidates
A large number of candidates being associated with a specific prep course provider significantly indicates that they offer the best CFA prep courses. The higher the number of candidates, the more will be the feedback for the prep provider to refine their study materials.
An added advantage is that some providers will also allow you to compare your practice results online with the other candidates. So, more candidates mean more comparisons, thus letting you know your accurate position in terms of preparation.
Finally, please note that a quality CFA exam prep course offered by a reliable provider can make your studies more effective and structure your entire study process efficiently. However, be prepared to work hard as no prep course is a magic bullet, and remember all the tips shared in this guide while choosing your CFA course prep provider.