Studying for the CFA® Exam: Benefits of Taking Online Tests

student enjoying the benefits of taking online test while studying for the CFA exam

If you’ve been following our blog, you’ve come across our article, top eLearning trends for 2020 and beyond. You also know that we believe in the advantages of eLearning. Well, this belief has contributed to our all-digital approach to helping you study for the CFA exam. Since the CFA Institute will transition its Level I CFA Exam to computer-based testing starting in 2021, there’s never been a better time to take online practice assessments. Check out the following benefits of taking online tests.

Learn the Norms of Test-Taking

Tests are designed to identify what you know and what you don’t know. Unfortunately, they are rarely as straightforward as you’d hope. By repeatedly testing yourself, you’ll grow accustomed to the design of the exam.

Strengthen Your Test-Taking Endurance

Sitting and staring at an exam hour after hour can be draining, so you should take practice tests to build your test-taking endurance. The more you practice, the more comfortable you’ll find it to be.

Everything Is Saved and Accessible

Technology has made it possible to keep your essential documents saved and confidential in your account for future reference. Study on the go with any of your devices – and start and stop whenever it’s convenient to study.

They Are Easier to Manage

To take an online practice test, all you need to do is log in with a username and a password accessed from any device (PC, tablet, or smartphone). Your results are automatically stored in the cloud, which saves you time and is accessible online anytime.

Lock-In the Information

Studies consistently show that students who study in short, regular bursts retain more information than those who undergo marathon study sessions. Flashcards and notetaking can get you far, and practicing the act of calling specific facts and figures to mind will make it easier to retrieve such details during the actual exam.

Track Your Progress

You can’t know where you’re going until you know where you’ve been. Tracking your progress can be a great way to show you which study strategies are working for you and which you should abandon. With each practice test you complete, the more data points you get, and the more subject matter expertise you gain.

Identify Your Weak Subject Areas

You may think that you’ll wiz through the ethics section of the exam, but if your practice results reveal a different score, you can and should refocus your study efforts. Online practice exams can pull specific questions to build knowledge in these areas.

Build Confidence in Your Abilities

Perhaps you’re working on getting your dream job by achieving a new certification. Regardless of your reasons for testing, tension is probably running high. The more often you sit for a practice test, the more natural it will feel the day of the actual exam. While it’s normal to feel some anxiety about a high-stakes exam, practice tests will reduce this feeling to a minimum.

Master Time Management

The last thing you want is to realize the exam is almost over when you’re only halfway through a reading comprehension passage. Pacing is critical when you have a limited time to complete a given section. Taking multiple practice tests can give you a better feel for how long you should devote to each portion.

Accuracy and Unbiased Assessment

Online practice tests focus on evaluating your preparedness, and the answers are marked automatically and assessed based on your performance, thus eliminating any room for partiality.

Sources: Learnyst Insights, eLearning Industry, ExamEdge

Since the CFA Institute is taking the Level I exam online in 2021, now is the time to adjust how you study for the CFA exam. Being online and all-digital, our CFA Level I Exam Prep is well ahead of the curve.

If you’re a CFA candidate, don’t delay. Start studying for the CFA exam with us today and reaping the benefits of taking online practice tests. If you want to take your test-prep game to a whole new level, click here for our FREE trial. We’ll have you ready to ace the test on exam day.

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