Imagine two CFA Level 1 candidates, James and Emily, both facing the intense challenge of studying for one of the most rigorous finance exams. They each set aside 10 hours for their preparation on a particular day but adopt very different strategies:
- James decides to sit down for 10 hours straight, powering through the material without taking significant breaks. He even eats lunch at his desk, believing that uninterrupted study will lead to greater success. However, as the day progresses, his focus begins to wane. The first few hours are productive, but by mid-afternoon, he’s fatigued, with his effectiveness dropping sharply.
- Emily, on the other hand, studies in focused 90-minute blocks, taking 15-minute breaks between each session. During these breaks, she steps away from her study area—taking a short walk, doing some stretches, or grabbing a healthy snack. She also enjoys a 45-minute lunch with a friend, giving her mind a chance to reset and refresh before returning to the material.
Comparing the Two Approaches
Despite spending the full 10 hours at her desk, James’s effectiveness diminishes throughout the day. He starts the first few hours at about 80% capacity, but as the day drags on, his energy dips. From noon to 4 p.m., his productivity drops to around 60%, and in the last few hours, he’s barely operating at 40% capacity. By the end of the day, his effective study time totals just 6 hours, despite the marathon session.
In contrast, Emily, with her regular breaks, maintains a consistent level of focus and energy throughout the day. She spends only 8 hours actively studying but sustains an 80% capacity for all those hours. This gives her 6.4 hours of highly productive study time—24 minutes more than James—and she still has time to relax and socialize. 
The Science Behind Effective Breaks
Research from the University of Illinois shows that taking structured breaks improves long-term focus and productivity. After prolonged focus on a single task, attention tends to decline, leading to diminishing returns. By allowing short, purposeful breaks, your brain can recharge, helping you return to studying with renewed focus and higher energy levels. This is essential for CFA candidates, given the vast amount of material to be covered across multiple challenging topics, from ethics to financial reporting and analysis.
Quality Over Quantity in CFA Preparation
For CFA candidates, quality matters more than quantity when it comes to study hours. Simply clocking long hours at your desk can result in burnout, especially with the breadth of material that needs to be mastered. Adopting Emily’s approach, with breaks that provide both mental and physical refreshment, can help ensure you retain the information you’re reviewing and stay motivated over the long haul.
Additionally, studies like those from Pomodoro Technique enthusiasts suggest that breaking study sessions into smaller, focused sprints followed by brief recovery periods makes the mind more agile and better equipped to absorb complex concepts like equity valuation or derivatives.
Preventing Burnout: The Hidden Edge
Burnout is a serious risk when preparing for the CFA exam, as the typical candidate spends an average of 300-400 hours studying for each level. Regular breaks and structured downtime don’t just help with short-term performance—they also safeguard your long-term mental health. As CFA candidates often have to balance studying with full-time jobs, preventing burnout is critical for maintaining a sustainable pace.
Additionally, taking breaks helps consolidate memory. Research has shown that the brain processes and stores information during rest periods, making breaks a vital part of the learning process. For CFA candidates, who must retain dense information across topics like fixed income, derivatives, and portfolio management, this memory consolidation is crucial for mastering the curriculum.
Practical Application for CFA Candidates
If you’re studying for the CFA exam, consider incorporating the following into your routine:
- 90-minute study blocks: Focus intensely, and then take a 10-15 minute break.
- Move during your breaks: Physical activity, even just a walk, helps reset your mind.
- Set longer study sessions earlier in the day: Energy levels tend to be higher in the morning.
- Vary your break activities: This will keep your mind engaged and refreshed.
- Plan for mental recovery: Incorporate longer breaks or relaxation activities on the weekend or after particularly challenging study sessions.
Conclusion
The takeaway here is clear: when it comes to CFA exam preparation, work smarter, not harder. Like Emily, adopt a balanced approach that maximizes energy and focus while preventing burnout. Structured breaks are not only beneficial in the short term but also crucial for maintaining the stamina necessary to succeed in this marathon of a finance exam.
