CFA materials: Do they need to be current? 
by prospie
(King Kong, 1,191
Points)
on 2/22/12 at 9:01am
Almost two years ago I torrented a huge package of CFA stuff, including Schweser PDFs, and I imagine several other monkeys here have come across the exact same file(s) online. The problem is that even then it was already a bit outdated.
Buying new or even recently used CFA books, if I remember, is very expensive. Does it matter that much? I'm the cheapest person ever and just want to do all this at the lowest cost.
By the way, if this has been talked to death already feel free to throw monkey shit or whatever, but I don't recall seeing a lo ton this before.
Are you talking about L1
Are you talking about L1 material? If so, probably about 80% of the material should stay the same over the course of a few years. They move certain topics (i.e., LIFO/FIFO, etc.) from L1 to L2 and vice versa. Also, they add some hot topics each year on L1. That is something that you want to be cognizant of because when they move something from L2 to L1 it will definitely be tested. If you have the videos from years past those should be good at getting the “main points” of each section down. I used ’09 Schwesser videos for the ’10 L1 exam and ’10 Schwesser videos for the ’11 L2 exam and passed both.
Something like this should help to determine the differences that have occurred in the LOS’ as well.
http://www.passingscorefinance.com/LOS/2011-2012/cfa_loschanges1.pdf
I registered for the June L1
I registered for the June L1 a few months ago. I don't believe you have the option to take the test without buying the materials anymore. Someone correct me if I'm wrong though.
^you are correct. You will be
^you are correct. You will be forced to either purchase the textbooks or the ebooks (ebooks the cheaper option).
I used 2010 Schweser guides and the only real change was in the accounting (IFRS-GAAP). I would have to agree that 80% of it was the same. Just compare the LOS in Schweser to the LOS in the ebooks.
You can find current
You can find current materials through your original method of acquiring them. I have done such for all 3 levels. Quality varies and they can be a bit hard to find.
"Social cohesion and puritanical morality place roughly on my list of concerns between whether I'll pick up jock itch at the gym this week (not likely, since I don't go the gym) and whether it'll rain in Christchurch, New Zealand next Tuesday."
-Eddie
You are forced to buy the CFA
You are forced to buy the CFA materials at every level of the exam even if you are a retaker. I used '08 Schweser materials for the '09 Level I exam without any problems. I think there were a few areas not covered where I simply reverted back to the CFA books.
They usually don't make earth shattering changes to the curriculum each year, but it always changes a little.
Just get a group buy going on
Just get a group buy going on and copy the books. Or print out copies of the PDF at Staples. How hard is it to find 5 CFA 1 people.
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Doesn't matter you're going
Doesn't matter you're going to have to buy them all anyways (unless you failed once already)
I think op wants to acquire
I think op wants to acquire the more succinct aftermarket materials rather than use the institutes wannabe britannica garbage
If the glove don't fit, you must acquit!