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| Preparation |
 Preparation
Exam writers attempt not only to cover important subjects thoroughly, they also try to make the tests different from year to year to prevent candidates from "gaming" the exam. Note, learning Outcome Statements (LOS) that have been emphasized in past may not be in the current year. A great number of readings and sub-topics are covered in CFA Institute Study Guides to ensure that many will be covered on the exam, but others will not. It is impossible to know in advance which sub-topics will be covered, and which ones will be ignored in any given year. Therefore, candidates are advised to prepare thoroughly for all subjects assigned in the study program.
It is recommended that you aim for an overall score of 70 percent or better, although the overall passing score is not predetermined. Keep in mind, the goal is not a perfect score, but a passing score.
It is also advised that when you take the exam, complete it in two or three passes. Answer only those questions that you find easy and can answer quickly on your first pass through the exam. Don't become frustrated or anxious if you find yourself skipping what seems like a lot of questions at first, you can miss quite a few questions and still pass.
You will feel more relaxed after completing your first pass, and find that you can answer more of the questions that you had previously skipped. Leave no answer blank, as no penalty is imposed for wrong answers. Try not to underestimate the psychological impact of time pressure. Try to stay calm and focused throughout your exam, regardless of how you perceive your performance at the time.
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