Kinh nghim hc thi CFA (Level 1)

Posted on Thng Tm 6, 2013 by thangmuoi

(Chia s sau y l kinh nghim hc thi CFA Level 1 ca mt bn hc vin t 10/10 trn 70%, search t google)

Mnh chia ni dung bi vit lm 3 phn l: Tng quan, tng mn hc v thi.

1/ Tng quan:
Trc ht c 2 vic cn xc nh khi hc CFA lv1:
+ CFA lv.1 hon ton khng qu kh. Mnh ngh y l iu quan trng nht phi xc nh v n
s to tm l thoi mi v t tin cho cc bn khi hc. Lng cng thc trong lv.1 khng qu
nhiu v thc cht ch c 1 vi cng thc chnh lp li nhiu ln nh tnh NPV, IRR, cc cng
thc tnh li l Ni dung ct li ca tng Study Session (lv1 gm 18 Study Session) cng
khng qu phc tp, khi hc cc bn c gng hiu c bn cht ca tng S.Session th s thy
n khng phc tp.
+ Xc nh l phi t hc l chnh. Theo kinh nghim ca mnh, nu c hc trung tm th cc
thy c s gip bn hiu ni dung chnh ca bi nhanh hn, h thng kin thc r rng hn
nhng khng nn ph thuc vo thy c m cn ch ng hc t hc. Khi t hc s gip bn nh
bi lu hn v hiu su hn so vi nu ch hc trn lp.
Cch hc:
Mnh ngh ty theo thi quen hc ca tng ngi m chng ta t a ra phng php hc ph
hp vi mnh, ch khng c cch chung cho mi ngi. Mnh cng th nhiu cch, sau cng
cch hc ca mnh rt n gin l:
+ c Schweser Note, c v ly bt gch li chnh hoc ch cha hiu Ch khng hiu
mnh c trong Curriculum hoc tra trn google (thng th wikipedia u c gii thch).
+ c xong ht Schweser Note th mnh lm bi tp cui mi Reading (1 Study Session gm 3-4
reading) v mnh t tm tt li reading va c. Nu bn dng thng tho mindmap th c th
tm tt kin thc bng mm, hoc c th gch u dng nh bnh thng, t tm tt li c 3 li
ch l: mnh thy khi tm tt c rt nhiu ch mnh khng hiu nhng b qua khi c, vic
tm tt lm bn phi c li k mt ln na v gip khc su kin thc. T tm tt cng s cho
bn thy c ton cnh ca bi, khi c chng ta ch thy tng nh m khng lin kt chng
li vi nhau, bn s lin kt v nh lu hn khi tm tt. Cui cng s gip bn c ti liu n
tp nhanh chng, khng cn c li sch. Thng thi gian mnh tm tt bi nhiu hn so vi
khi c reading.
+ Xong mt 1 mn hc (CFA lv.1 c 10 mn, 1 mn gm t 1-4 Study Session) mnh s ly
thi th ra gii. Cui cng l sau khi hc khong 1 thng, mnh ly tm tt ra n li.
2/ Tng mn hc:
Mnh khng c cch hc c th cho tng mn, mnh ch hc theo cch chung ni phn trn.
Mnh khng chia cc mn ra nhm (thc s trc khi hc mnh cng khng r ni dung ca
chng l g). Mnh ngh nn hc theo th t ny l hp l:
1/ Quantitative methods ( lv1 l Xc sut thng k): y l mn nn tng cho nhng mn khc
nn chc chn phi hc u tin.
2/ Nhm mn: Corporate finance, Fixed Income, Portfolio: Ni dung 3 mn ny k tha t Xc
sut thng k kh nhiu. Ring Portfolio, thi khng hi bn cht, nhng mnh ngh nu c
nh hc ln lv.2 th cn c k mn ny.
3/ Economics, Equity v Financial Reports: 3 mn ny im chung l rt nhiu th phi nh v
kh phc tp. Theo mnh th Financial Reports l kh nht trong lv.1, mnh mt rt nhiu thi
gian khi phi t hc mn ny.
4/ Derivatives, Alternatives v Ethic: Nhng mn ny c c im l rt d qun kin thc, nn
hc sau cng. c bit l Ethic mnh ngh nn hc sau cng v rt d qun, ring mn ny
mnh ngh nn b qua Schweser Note (Schweser Note vit phn ny rt hi ht), nn b thi gian
c Curriculum (mn ny chim n 15% s im).
3/ thi:
Mnh c cc nhn xt vi thi thng 6/2012:
+ rt gn vi Schweser Note nn cc bn c th t tin khi hc bng Schweser Note.
+ kh thi tng t vi Mock v b thi ca Schweser, mnh lm nh ch t khong
70-75%, rt nhiu mn di 70% (Equity,derivatives v Portfolio khi thi th mnh cha trn
70% ln no) nhng khi thi tht vn trn 70%.
+ hay hi nhng nh trong bi hc.
l ton b kinh nghim t hc ca mnh. Chc mi ngi t kt qu tht tt trong nhng k
thi sp ti.

(Chia s sau y t Nguyn Tn Bo ngi t 10 mn trn 70% trong k thi thng 12/ 2011)

Xin cho cc bn (ang chun b cho k thi Level 1),

Cch y gn 1 nm, c l mnh cng ging nh rt nhiu bn by gi, ln u tin lm quen vi

CFA Level 1. Gi th c kt qu pass Level 1, nn mun thng qua AFTC gi n cc bn
mt vi kinh nghim bn thn m mnh ngh c hiu qu, t nht l vi chnh bn thn mnh :)

Mc tiu v phng php hc l yu t quan trng

ng k thi v ng tin trc 1 nm, nhng k t khi nhn c thng sch Curriculum, v bt
u ngay vi quyn 1 Ethics & Quant, mnh hi m h v u oi, v ngy no cng rng cy 5-
10 trang sch. Sau khong 1 thng, th tt c gn nh l s 0. Lc ny mnh bt u cm thy b
tc v bung xui. Ni chnh xc l lc mnh khng bit cch hc, cch tip cn nh th no.
Nhng sau 1-2 bui hc ti trung tm v trao i thm vi nhng anh ch, bn b i trc, mnh
dn nh hnh c mnh ang u, v i n mt quyt tm: ch c mt con ng
PASS.

Mnh ngh xc nh c mc tiu ngay t u l rt quan trng. V khi vch ra c con

ng v ch n, mnh s t vic hc v pass CFA ln v tr u tin hng u; t tp bn b,
tic tng, du lch, hay thm ch cng tc s c sp xp xung hng di. cng l l do v
sao nhng anh ch i trc thng khuyn chng ta nn ng k thi v ng tin t sm, v sau
bn ch c th bc ti m thi :)

Thoi mi i no !
K nhng iu bn trn, th cc bn ng tng tng ra mnh l mt thng con trai mt sch,
knh dy cm, mt my thiu no, dng dp tht thu v lc no cng lm bm CFA, CFA
nh. Thoi mi i, nh mnh ni trn, ch cn cc bn xc nh u l U TIN HNG
U v ng ch quan, under-estimate l c. Phi th thc l ban u cng kh p lc (khi
cha bit phng php), nhng cng v sau, mnh cng hc c nhng kin thc rt hay v th
v, m trc gi, trong cng vic c nhc n l nh vt nghe sm V vy, cc bn cng th
ngh trong u xem nhng ch li m mnh c th t c khi hc CFA: nng cao kin thc, b
tr cho cng vic, c hi thng tin, lm quen c nhiu bn b khi chc chn bn s c
hng th hn, v vic hc theo cng s cc nhc hn.

Trc y, mnh tng nghe c bn ni, pass c CFA Level 1 th phi t ra rt nhiu
KHNG khin mnh pht hong: khng ngi yu, khng gii tr, khng c ph, khng l tt,
thm ch khng ra ngoi ng. C nhn mnh thy khng n ni my mc nh vy, m nn
gi tm trng thoi mi, ch cn cc bn xc nh mnh mun g, v mnh phi quyt tm t cho
bng c, l OK ri !

Ethics Let face it

C l khng cn ni thm v tm quan trng ca mn Ethics trong chng trnh hc cng nh
cng vic hng ngy. Nhng r rng y khng phi l phn ngon n m CFAI dnh cho
chng ta, v c mi ln nhn ci di long ngong, chi cht ch l mnh chong v ngn lm
ri. Bi vy khi lm practice test v bi thi, nu bn no khng t tin, khng nht thit phi
bt u vi mn ny. Tuy nhin, ci g n cng phi n. Let face it. C bnh tnh c, khng
hiu c li cng s ht thi. Mnh thy a phn cu hi u s dng t ng v cu trc rt r
rng, nn khng qu kh hiu vn .

Mind maps ngi bn ng khng th thiu

1-2 tun l trc k thi, Mind maps cc k pht huy tc dng, v tt c nhng g nghe, c, v
hiu c, mnh nht ht vo y. Cng trnh sau bao nhiu ngy mn mi vit, gm xo,
vit, xo V vy, sau cc bui hc cc bn cng nn dnh cng sc u t vo cun sch ny.
Ti sao nh vy? Khi take-notes, ghi chp cn thn, c u t, mnh cam oan bn nh c
50% ni dung ri, sau ny ch cn lt qua l nh. Khi n (lt), cng khng cn phi chm ch
mt ch cho tht thuc ri mi i tip (nh chnh bn thn mnh r l mt thi gian), v n
nm u trong u bn ri, khng ai ly c u. Gi bn hiu ti sao li phi mt cng
ghi chp ri ch?
V cng may l ch phi m mt cun, ch nhn 2 chng sch (Curriculum mt bn v Schweser
mt bn) mnh pht m mt.

Ah, nhiu bn c nh mn li nhng cun Mindmap ca kha trc photo li, mnh ngh
vic ny s khng hiu qu lm, v n ch c tc dng nu chnh bn l ngi ghi chp li, sau
khi hiu r c ni dung .

Tm ra nhng cch nh cho ring mnh

Th thc, kh nng nh ca mnh ch mc trung bnh, nn khi thy cc bn c hi n l c
vanh vch cng thc, lc mnh mun m hi ht !!! Nhng mnh ngh c th khc phc
c, bng cch tm ra nhng mo nh cho ring mnh. Hi hc mn Option, thy Vit c cho
mt v d: C sexy (C-S-X) v Put ngc li. Ti sao mnh khng th sng tc nhng cu ni
vui, cu tc ng, cu th, thm ch bi ht m ch mnh bit thi ;) va relax m va c th
nh bi na ;) Oh yeah
Nu mun, cc bn c th tm hiu nhiu hn v phng php ny trong quyn sch B mt ca
mt tr nh siu phm ca Eran Katz. Mnh thy kh hay v hu dng, nn tranh th gii thiu
lun.
Lin kt li bt c lc no c th
Trong qu trnh hc, mnh c nhng ni dung c lp i lp li nhiu ln, 3-4 mn khc
nhau. V d: NPV trong Quant, CF hay EAR/Yield trong Quant, Fixed, PM hay Cashflow trong
FRA, Equity Nn khi ng n nhng ni dung ny, trong u long thong nh gp u
, v mnh lt li ngay review ni dung nhng mn trc hc t c th gip
mnh hiu su hn, tng quan hn, v c bit l nh tt hn. Mnh gi cch lm ny l lin kt
cho. Mnh c bit rng mt kin thc no cng xem i xem li nhiu ln, th cng c kh
nng ghi vo b nh tt hn. Khi n tp chun b thi, cc bn cng th lm theo cch ny xem
nha, m bo s c hiu qu .

Practice kiu s dc, v quan trng hn l Explanation

Trong thi gian n tp, c Phng c gii thiu mt phng php rt hay: lm practice kiu s
dc. Ngha l sau khi review mn no xong, th tch thi mn trong Practice lm lun (c
canh thi gian). Lc chc chn cc bn s rt hng th v mun thc hnh ngay kin thc
mnh va n. Nhng khng ch lm bit c bao nhiu % (im), m quan trng hn, nu c
iu kin cc bn nn xem thm phn gii thch trong p n na. y cng dp chng ta
review li nhng ch no cn hng, cn sai st, v hiu c cch t duy vn ca nhng
ngi i trc, xem h suy ngh th no. D nhin s mt nhiu thi gian, nhng b li mnh c
th hiu vn su v chc hn, cng ng lm ch !!! ;)

Lm bi Mock tri nghim cn thit

Nu cha bao gi tri qua thi gian 6 ting trong ngy suy ngh v lm test, th theo mnh vic
tham gia lm Mock trung tm l cn thit. Mc d ch mc thi th, nhng lc mnh
cm thy kh ui. Trong thi gian khong 2 tun trc khi thi, mnh cng t lm 2-3 bi test
(Mock & Practice) nh vy, luyn tp thm sc chu ng, kh nng phn b thi gian. Mnh
ngh lm vi ln s quen, v n khi thi tht s ngp.

Thi gian lm bi mt kinh nghim xng mu

nhng ln lm Mock v Practice, mnh mi khi t tin nht, chc n nht, th cng l bi
c im s t nht. V sao vy? Hu ht nhng ln mnh c lm tht nhanh, c khi ch 2h30 l
xong mt (cho 3 ting), c xem ht sc mnh lm mt bao nhiu thi gian. Nhng sau ny
pht hin ra rng, l mt vic rt di dt. Nh th bn rng n ht mt t ph trong 3 pht vy
!!! a phn nhng cu sai, khng phi l cu khng bit lm, m do mnh u, khng c k ,
hoc tnh ton sai Ph nh li m rng mnh

Hn CFAI khng ngu hng (v v l) khi t 1.5 pht cho mt cu hi ca h, v bn cng nn

tn dng v cn i ht lng thi gian 3 ting m h dnh cho mnh.

n ung v sc khe
C th dnh mt cht thi gian mi ngy rn luyn th lc l iu qu tuyt vi, khng cn
phi bn. Nhng ngay c khi khng th (v 1.001 l do), th phi chc chn rng bn n ung hp
l v c sc khe, c bit l trong giai on cui n tp. Khong 1 thng trc khi thi, mnh
thng mua vin si ung cho khe khon, v c bit l tng sc khng gip mnh khng
bnh. Nu bnh s rt mt m khng lm c g c.
Nhng n ngy thi, cc bn c gng n nhng th n gin nht, lnh mnh nht ( n t mnh
ch bin), gim thiu ri ro n mc thp nht. Yn tm, mt ngy n m bc khng lm cho
bn mt cn i v dinh dng u !!!

Kinh nghim ngy thi o khoc l th bt buc

Nhit phng thi s rt lnh (c bit vi nhng bn n), do o khoc l th bt buc phi
c. D vy, nu cm thy lnh, bn c mnh dn ngh Proctor iu chnh nhit . Cc anh
ch Proctor rt tt, hm c anh chy n hi mnh lnh khng em :) Lc trc c ngh h l
ngi ca CFAI, nhng hi ra th bit hu ht ang lm Hi ng Anh (British Council), c
CFAI thu t chc k thi; ch c mt vi ngi l t CFAI c sang.

Chia s v chia s, bn nh !
iu cui cng mnh mun ni: ng tic s gip nu c bn no hi bi mnh nha cc
bn. Mnh ngh y cng l dp n li kin thc v kh nng. Bn thn mnh khi gp mt s
cu hi ca cc bn khc, khi xem li gii thch, mnh c th nh v hiu vn su hn.
Thc mc ca ngi khc, nhiu kh nng cng l l hng ca mnh, ng b qua c hi ny
nh !

Trn y l mt vi tri nghim ca c nhn mnh. C th bn thy hp l v p dng, cng c

th khng. Nhng hn ht, mnh tin rng tt c chng ta u ang trn mt con ng chinh
phc nhng mc tiu. D trc, d sau, hy vng rng tt c chng ra s gp li nhau cui con
ng . Chc cc bn nhiu sc khe, ngh lc v may mn.

Lu :

- Cch tnh im u: Gi s c 1,000 ngi thi.

u tin, CFA Institute s chm im c th ca 1000 ngi , ly ra 1% nhng ngi c im
cao nht (trong trng hp ny l 10 ngi) c nhng ngi t 100%, 99%, 96%, ., sau ,
h s tnh im trung bnh ca 1% ra 1 s X. im chun s c tnh l 70% * X. Trong
trng hp xu nht, 1% qu gii, tt c cc bn u t 100% im th im chun pass
s l 70%.

- Nu kt qu Ethics ca bn < 50% th bn s fail mc cho kt qu nhng mn cn li c tt

nh th no i na.

p.s: c m u vo my qu u t ca M. ch chu kh m thi. cn li th rt lm bing, li

lao ng v nung chiu bn thn.

Mnh mun lp topic ny cng mi ngi tho lun v kinh nghim hc CFA, c nh mnh ai
m bit th cng chia s nha
Mun cng chia s cng cc bn Ubers v kinh nghim hc v thi CFA nhng kh nng vit
khng c hay. Mnh ch lit k ra y cch m mnh lm trong 2 k thi va qua.
Trc tin l k thi L1. Nh cc bn bit th L1 gm 240 cu trc nghim kin thc xung
quanh 10 ch . Ni dung cc Concept ca CFA Curriculum rt rt nhiu, cc bn kh c th
nh ht chng nu khng c cch tip cn ph hp. Mi mn CFA Curriculum trung bnh t
200-300 pages bao gm nhiu terminology v formular. Trong mn FRA, Ethics, Quantitative
Analysis, Economic, Fixed Income v Equity chim t trng kh ln. Cc bn cn dnh nhiu
thi gian tp trung vo nhng topic ny.
1. Bt u cng sm cng tt: Candidates VN thng b mt li th so vi cc nc khc v kh
nng ngoi ng. Tuy nhin, bn cng ko nn qu lo v iu ny v ngn ng trong
Curriculum(nu bn chn sch ca CFAI, hoc Schwers Notes kh l thn thin, d c v mt
iu khng th ph nhn l Candidates VN c truyn thng hiu hc. Hu ht cc Topics ca L1
l mt phn trong chng trnh i hc ca sv chuyn ngnh ti chnh nh Kinh T Hc, Xc
Cht Thng K, Ti Chnh Doanh Nghip, C Phiu v Tri Phiu nn phn c hiu khng my
kh khn. qun, mi ni m qun mt chnh. Nu thi thng 12 bn nn bt u t thng 6
hoc 7 tn dng thi gian i vi sv mi ra trung. Nu xc nh thi thng 6 th bn nn bt
u t thng 1-2. Cng nhiu time bn c th cover li cc topic hc k hn. Mnh nh thi
thng 12-2011, mnh bt u t u thng 6, c xong 6 cun Curriculum vo khong
thng 10, tuy nhin khi xem li th a s qun ht. Th l phi hc li t u nhng nhanh
hn.
Tm li, bn nn bt u t 5-6 thng trc khi thi.
2. Ln k hoch hc chi tit v k lut tun theo n: bn nn c k hoch c ht cc Learning
Outcome Statement (LOS) v lm u bi tp cui mi topic. Chng hn nh 1 tun xong mt LOS
(c tt c 18 LOS), ty tng LOS m thi gian phn b khc nhau. Bn phi k hoch sao cho cover ht
LOS trc khi thi t nht l 1 thng bn cn c thi gian xem li v luyn k nng lm bi. Tuyt i
phi hon thnh k hoch vch ra nu bn khng mun b chng cht sau ny.
3. Sau khi c xong cn tng hp li: y l cch nhanh v hiu qu khi bn n tp li trc khi thi.
Bn c th dng Mindmap bn AFTC hoc t mnh tng hp sao cho d nh v tm gn nhng
chnh.
4. Nn hc mn d trc tin: mnh thy bn nn bt u t mn QA trc v kh d v QA thng
c ng dng trong cc mn sau nh Corporate Finance, Fixed Income,Equity. Hoc bt c mn no
m bn thy d t tin. y l tin quan trng v cng l ng lc cho bn tip cn cc mn cn li.
5. Bn nn hc theo nhm: kh quan trng. Bn nn hc cng mt vi ngi bn c th h tr ln
nhau. Nn t 3-4 ngi/nhm.
6. Lm nhiu bi tp: nn lm tt c cu hi trong Curriculum lm quen vi ni dung thi thc.
Lm thm trong Question Bank ca Schwers v cc Mock. Nu lm xong trc , khi n li bn
nn lm li ln na.
7. Khng nn nh gi thp mn Ethics: L1 Ethics chim t trng kh cao 15% v kh nhiu n dung.
Bn s gp li L2 v L3 th nn bn cn phi cover topic ny tht k. Nh Ethics s quyt nh bn
pass hay fail nu im thi ca bn mc marginal.
Trn y l nhng kin bn thn mnh ng dng khi t hc CFA. Kinh nghim lm bi v hc tng
mn mnh s chia s khi c thi gian. Rt mong c s gp ca cc bn.