WHEN and HOW To Approach the CFA Program's Practical Skills Modules (PSM) as a CFA Candidate

Meet Nathan Ronen, CFA, Lead Instructor and Co-Founder of Chalk & Board. In this video, Nathan discusses the CFA Program's practical skills modules (PSM), with specific emphasis on HOW and WHEN to begin them. As a CFA candidate, you should approach the PSM after taking your exam, so that you don't lose valuable study time prior to your exam window. Nathan advises "not" to budget the stated time recommended for each PSM, but instead to budget more time. This video applies to the CFA PSM requirement for CFA Level 1 and CFA Level 2 as of 2024, and also CFA Level 3 as of 2025.
Chalk & Board is the best CFA prep provider offering the best CFA study materials in our view. Watch this video to learn more for yourself. Feel free to like this video, ask questions in the comments section and subscribe to this channel for regular tips, guidance and strategy on all things related to the CFA exams. Visit www.chalkandbo... to learn more about why the Ronen Methodology is the most successful CFA® exam study program for all levels (Level I, Level II and Level III), and follow Nathan at:
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[@Riz-dt2ln]

Thank you for the advice to do it after the exam itself and not waste time completing prior to the sitting - I did not realise that was an option

[@ChalkBoardCFAPrep]

Glad you found it helpful!

[@pablosantiagoquintana8954]

Thank you Nathan, this was very clear! Would you recommend doing more than one of the PSMs merely for the sake of learning? Not due to any CFA requirements of course but rather because they seem interesting and useful

[@ChalkBoardCFAPrep]

I honestly would just focus on doing one at a level. Once you are a charterholder, you can do all the PSMs you missed (they will be given to you as an option). While you're a candidate, I would advise focusing your energy on the testable CFA material and passing the exams to get your charter.

[@Sunil-ne8mx]

Thanks

[@ChalkBoardCFAPrep]

Hope it helps!

[@eymarir3862]

Hey Nathan! I really need info on something a bit unrelated. Does the CFA student scholarship (fee of $400) apply to only the standard package? Since there are costlier study packages such as plus and premium. TIA

[@ChalkBoardCFAPrep]

This scholarship is offered by CFA Institute and applies to their CFA exam registration only. All scholarship questions should be directed to CFAI, since they are the ones who are offering the scholarship. They are very responsive to questions by phone, and their phone numbers are here: help.cfainstitute.org

[@nikunjnashine5021]

Do we have to build financial model and submit it with cfa body to complete PSM

[@ChalkBoardCFAPrep]

On the Financial Modeling PSM you will need to build a financial model to complete the PSM, but you do not need to submit it to anyone (as of the time of this comment). In any case, all will be clear when you take the PSM!

[@byeska]

Hey Natan, is the any miminum score to in PSM ? What if we fail PSM? Do we have to complete it again until we success? If we fail PSM does our exam result release?

[@ChalkBoardCFAPrep]

You need to complete the PSM to get your exam results. There are short questions on the PSM after you complete topics, but if you get them wrong you can see the answers and then retake the same questions again. The idea of the PSM is to teach you some practical skills, not to fail you on questions.

[@ChalkBoardCFAPrep]

@@hasitshah-ge2zd The PSMs are included in your registration fees.