If you work in the finance industry, a Chartered Financial Analyst (CFA®) certification can put you on the fast track to a much higher salary. But becoming a CFA® Charterholder isn’t easy; there are three levels of exams to pass. In addition, you need at least four years of professional work experience in the investment industry to become a CFA® charterholder.
However, once you attain the CFA® qualification, the rewards are great. But how can you ensure that you have a good chance of passing the exam? That’s where courses like AdaptPrep CFA® Review come in!
Overview Of AdaptPrep CFA® Review
AdaptPrep’s lineage stretches back almost a quarter-century. Back in 1995, Salt Solutions Inc. started offering help to candidates who were preparing for the actuarial exams. In 2009, the company introduced a unique feature. They began using Adapt, a web-based system that adjusts the pace of learning in response to the candidate’s level of knowledge.
Tim Huffman, a Ph.D. in Mathematics, developed the technology that Adapt used. It ensured that the material and practice questions were of a level of difficulty that was tailored to each candidate’s learning needs. In 2013, AdaptPrep was introduced for CFA® exam candidates.
But do you need to use AdaptPrep’s adaptive learning exam tool? Why can’t you restrict yourself to the official material provided by the CFA® Institute?
Theoretically, it is possible to pass all three levels of the exam by spending your study time on the books issued by the Institute. But that will mean wading through over 3,000 pages of study material for Level I alone. Remember that you have to understand dozens of new concepts. You also have to memorize specific sections of some topics. How will you know which parts are important and which are not?
A course like AdaptPrep can be invaluable for this very purpose!
Here is a quick breakdown of what you get with AdaptPrep CFA® Review:
- Hundreds of high-quality video lessons. (225+ videos for CFA® Level I, 175+ for Level II, and 100+ for Level III).
- Thousands of practice questions (2,500+ for Level I, 1,000+ for Level II, and 600+ for Level III).
- Specially designed readings covering all the CFA® exam topics.
- AdaptPrep’s Topic Mastery system. This helps to identify the areas that you need to devote more time to.
- Access to the community of coaches, candidates, and CFA® charterholders for help with any topic or question.
What’s Included In The AdaptPrep CFA® Package
There are three AdaptPrep plan options – Practice, Learn, and Complete. The Practice plan focuses on practice questions. The Learn plan provides you with detailed study material and videos that cover the entire course. The Complete plan is a combination of the Practice and Learn plans.
It’s advisable to buy their Complete package because this will ensure that you can use AdaptPrep’s study material and videos to understand the different topics and then go on to the practice questions to test your level of knowledge.
This review is based on AdapPrep’s Complete CFA® course package.
This is one of the greatest strengths of AdaptPrep CFA® Review. The video lessons cover the entire course and are designed in a manner that hold your interest. Furthermore, the instructors don’t drone on and on. Each video is only a few minutes long, but it gives you a good idea of the topic that is being explained. Additionally, the videos contain animations and graphics that help to simplify complicated concepts.
The manual that accompanies the videos makes it easy to keep track of the subject that is being covered. Consequently, these notes play a crucial role in the learning process.
CFA® Practice Questions
Don’t underestimate the importance of testing your knowledge! You may spend hours reading the study material or watching video lessons. But in all this time, what have you learned?
Answering the practice questions will tell you!
Also, answering practice questions serves another purpose; diligently working on these helps teach you to manage your time well.
The Level I exam has 240 multiple-choice question that you have to answer in a total of six hours: 90 seconds for each question! It isn’t easy to complete the exam in the limited time that you have. Furthermore, Levels II and III are equally difficult if not more so.
Don’t make the mistake of ignoring the practice questions or leaving them for the last few days. Working on AdaptPrep’s question bank should be an essential part of your preparation routine.
Readings Covering All CFA® Exam Topics
The reading material that you receive from AdaptPrep CFA® Review will help you to understand the topics being covered in the videos. However, you can use these notes independently too. The readings are available in a PDF format, and you can download them and print them if you like.
Here’s how you can use the readings provided by AdaptPrep. If you are familiar with a specific topic, you can quickly review the material and watch the accompanying video. However, if you are having difficulty in a particular area, you should revert to the study material provided by the CFA® Institute. This is in far greater detail and will give you an in-depth explanation of the topic.
Topic Mastery System
One of the most significant challenges of preparing for the CFA® exam is to know which areas to focus on. With thousands of pages of study material to cover, it’s practically impossible to give each topic the attention that it deserves. This is where AdaptPrep’s Topic Mastery system can help.
As you answer the practice questions, the online system records your responses. It uses a specially designed algorithm to determine your strengths and your weaknesses. Subsequently, you are allocated practice questions that focus on topics in which you need to improve. Using the information that the Topic Mastery system provides, you can also make changes to your exam preparation strategy and focus on your weak areas.
Access To The Community
The online discussion forums are available to candidates who select any one of the three packages that AdaptPrep provides – Learn, Practice, or Complete. This feature gives you the opportunity to post questions about topics that you don’t understand. A Coach will reply to your query with a detailed explanation. You can create a new topic or enter a search term to view discussions on areas that have been discussed earlier.
AdaptPrep CFA® Review Pricing
Here’s a quick summary of the price and the features of each of the three packages that AdaptPrep offers.
|AdaptPrep CFA® Products||Practice||Learn||Complete|
|Readings covering all the exam topics||No||Yes||Yes|
Pros & Cons
Pro – Video lessons: AdaptPrep’s instructors are top-notch. They hold your attention, and by the time the lesson ends you have an excellent idea of the topic that was explained. Of course, you have to use the accompanying readings as well. Fortunately, these are of equally high quality.
For most topics, watching the video and reading AdaptPrep’s study material will give you all the information that you need. However, for the areas that present a problem, you can always turn to the CFA® Institute’s study material or post your query on AdaptPrep’s discussion forum. Of course, you must devote adequate time to practice questions as well.
Pro – Predictive analytics: This feature can save you a significant amount of time. You don’t want to waste hours on topics that you know well. Hence, it makes much more sense to devote extra time to the areas that you are unfamiliar with. AdaptPrep’s Topic Mastery system helps to point you in the correct direction. The sophisticated algorithms that the online prep provider uses allow you to identify your weaknesses and focus on overcoming them.
Pro – Discussion forums: The availability of CFA® charterholders to answer the questions that you have can be a godsend. Getting a quick answer to your query can mean gaining a complete understanding of the topic that you are studying and moving on to the next one.
Con – No face-to-face interaction: You need the self-discipline to get the best out of an online course. Some candidates don’t have the patience to sit for hours on end in front of their computer screens.
However, you should remember that the convenience that an online course offers is hard to match. You save the time that you would spend commuting to and from a live class. Additionally, an online course is available whenever you are free to study.
Frequently Asked Questions
What if I buy the AdaptPrep package and fail the exam?
If you buy the Complete package, you are allowed one free renewal if you take the exam and do not pass.
Will AdaptPrep teach me how to use the Texas Instrument BA II Plus or the Hewlett Packard HP 12C?
Yes! You receive an online calculator guide, which is a series of video lessons that introduce you to the calculators. Additionally, you can always post a query on the discussion forum.
Can I access the practice exams and quizzes that I have taken on the Adapt platform?
Yes, you can. Your account on AdaptPrep will store all your previous exams and quizzes. You can refer to them anytime that you want and revisit old problems that you found difficult to understand. Furthermore, you also get access to section reports where all your answers for each exam section are stored in one place. This will help you to periodically review your progress and focus on the areas in which you are weak.
What is AdaptPrep’s Study Schedule and how can I use it?
When you buy the AdaptPrep course, you will receive a Suggested Study Schedule. This is a customizable spreadsheet that allows you to plan your time and create a schedule that covers all the topics in the course.
If you are undecided about AdaptPrep’s CFA® program, consider the following points. The prep course will be a good fit if:
- You have the self-discipline to study for the required number of hours and use all the features that AdaptPrep offers.
- You are looking for a prep program that is a mix of video lectures, readings, and practice questions that will prepare you to take the CFA® exam.
- You don’t want to spend endless hours reading the study material issued by the CFA® Institute.
- You require a reliable and prompt forum that you can turn to when you don’t understand any part of the study material.
I highly recommend signing up for AdaptPrep’s FREE trial. You get three days of access to the AdaptPrep CFA® course for free. See if you like the video lectures and the reading material. You can even navigate to the discussion board and have a look at the type of queries that are raised and the solutions provided by CFA® exam experts.
If you decide to purchase AdaptPrep CFA® review, you’ll be getting a well-rounded package that will help you navigate the toughest parts of the CFA® exam. So what are you waiting for?
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