Muschamp Rd

Stella CFA® Preparation Class

June 21st, 2007
A typical CFA Candidates desktop

I got invited to a free class/infomercial for Stella or someone using the Stella materials’ for their CFA preparation class. They did a fair amount of fear mongering, but some in the audience were pretty delussional, they gave up reading the first actual CFA book, but they think just by showing up to 16 classes everything will be easy…

Even if the Stella materials are shorter and easier to understand there are still 700 learning outcome statements you may be tested on. Some study sessions have 50 or more formulae you need to memorize.

Many times the instructor Daren said do a lot of practice questions, do many practice exams, get used to budgeting your time over 240 questions.

I also learned that 15% of the Level 1 test is on Ethics, and 25% is on Financial Statement Analysis. No one knows how the passing grade is determined but a best guess is take the average score of the top 10% of test takers that period then 70% of that is the passing score…

During the last test, only 35% of the questions actually required you to use a calculator, the trend is less and less number crunching questions, more deductive reasoning.

The classes are supposedly once a week starting July 24th and cost about 1200 dollars. I don’t have a spare 1200 dollars nor do I ever seem to get out of work by 6pm, let alone arrive somewhere by 6pm.

I’ve actually fallen behind my study schedule and have had to revise it. One week a study session is pretty tough, I’m alotting about ten days now. Of course I haven’t done any studying for a while. I told the instructor with working full time I have to do most of my studying on the weekend, he seemed to think that wouldn’t suffice. Also a common strategy is to take a week off work just prior to the exam to cram and practice.

That would be the last week in November…


It took multiple attempts but I did pass the CFA Level 1 exam. Just like my MBA, I’m not sure it is worth it. I definitely don’t recommend blogging about your experience as a CFA Candidate. It took many, many years of effort and sacrifice but I managed to also pass all three exams.

  • Why was it not worth it ? ty, Mark

  • The CFA or my MBA or the class? Doesn’t matter the answer is despite doing all this stuff, I wound up unemployed, sick, and alone not necessarily in that order. For all the time and money I’ve spent, I haven’t seen the ROI. I can’t really recommend advanced education, particularly not the Sauder School of Business MBA program at UBC.


    Thank you very much for sharing your CFA materials with others

  • Lots of people have benefited from my hard work. I haven’t.

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