Mastering Note-Taking for CFA Exam Success: Tips from Nathan Ronen, CFA

26 Apr 24

Published by Chalk & Board

Useful Tips from Nathan Ronen, CFA

Hey everybody, Nathan Ronen, CFA here with another update for all CFA® candidates, whether you’re at CFA Level I (“Level 1”), CFA Level II (“Level 2”) or CFA Level III (“Level 3”). Now that we're done with the February 2024 CFA exams, the question that comes up all the time from new students of mine, especially among retakers, is, "Nathan, I don't really understand why I failed." When I ask them about what kind of notes did they take, the answers I get are shocking.

Are Your CFA Exam Study Notes Effective?

Note-taking is essential when trying to master a wide body of information, such as the one existing at each CFA exam level for testing. But not all notes are created equal. Think of notes like photographs. Anyone can take a picture, but not everyone can take a good one. Similarly, anyone can take notes, but the question is, are you taking good notes?

CFA Formulas Aren't Everything

Many CFA candidates focus solely on CFA formulas and key definitions when creating their notes. While calculations are part of the CFA exam, the CFA Institute emphasizes a broader understanding. Up to 30% of your CFA exam questions may involve calculations, but the exam is evolving, and memorizing formulas alone won't suffice.

Understanding What Constitutes Good CFA Study Notes

Good CFA exam study notes go beyond formulas. They capture key concepts, explanations, study logic and integrated topic application strategies. By creating the correct type notes, you're preparing for the full scope of the CFA exam, not just its quantitative aspects.

The Value of Effective CFA Notes

Effective note-taking is a crucial component and can be your competitive advantage during exam preparation all the way through to exam day. It ensures that you're studying the right material in the right way and can help focus your final revision work during the last weeks prior to your CFA exam date. Investing time in creating quality notes can make the difference between passing and failing the CFA exam.

Conclusion

Don't underestimate the importance of note-taking in your CFA journey. By focusing on quality over quantity and understanding the CFA exam's evolving nature, you'll be better prepared to tackle the challenges ahead. And remember, success is not just about what you study, but how you study it.

For more personalized guidance on mastering note-taking and preparing for your CFA exam, visit chalkandboard.org and my YouTube channel and connect with me.

Nathan Ronen, CFA

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