The Value of Mock Tests

Becoming a CFA is an excellent way to advance your career and move ahead in the financial industry. However, the examinations required to become a Chartered Financial Analyst are known for being highly difficult. When facing such a challenging exam preparation is key and taking the steps to improve your odds is of utmost importance. When preparing you shouldn’t rely entirely on studying as this can still leave you underprepared. To be adequately prepared CFA mock exams are an important way to ensure you put forth your best effort when taking the real thing. Mock exams serve several useful purposes.

What You Can Learn From a Mock Exam

  • The Test Format: with most tests and areas that can trip up even the most prepared is the format of the test itself. It’s one thing to know the information, it’s another to know how questions about that information are going to be presented. By taking mock tests you get used to the general format of the CFA examinations, removing that element of surprise.
  • Improve on Your Study Habits: after you’ve taken a mock exam you will know what topics you need to review, and this is also a good time to improve upon your study techniques. For example, if you’ve been studying a topic heavily and did badly on it on the mock exam, your study methods are likely flawed. There are a lot of ways to approach study and everyone response to different things, so it may take some modifications to see what works for you. If you’re putting in a lot of hours and not seeing the results you want your methods may require changing.
  • Time Management: you’ve more than likely taken a test where you knew the material but ran out of time before you could finish. With testing, time management is an important part of your overall strategy. Techniques such as skipping harder questions to finish easier ones first or making multiple passes through a test allow you to complete as much as possible within time constraints. Plus if you save enough time you can carefully review answered questions you are unsure about which can improve your odds of passing. Even in tests with a lot of time to take it time management is key as it reduces stress and can prevent bad habits such as second-guessing.
  • Make The Most of Your Attempts: the CFA exams do have a cap on the number of times you can take it in a year and also on the total number of tests allowed per level. With hard work, you can certainly pass. However, you want that to be as efficient as possible without wasted time, effort, and money. By taking mock exams you increase your odds of passing which can streamline the entire process and allow you to receive certification quicker.

Final Thoughts

Passing the CFA exam is a challenge and all your hard work to this point should not be wasted. If you’ve never made use of mock tests before, the CFA is an excellent time to start taking advantage of such a tool. By studying hard, improving your methods, and taking mock tests you can walk into the exam fully prepared and aware of what’s to come which makes passing easier than without.

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