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I have Stalla materials. I used it exclusively for level 1, as well as EOC questions, and that was fine.

For level 2, I find it to be overall helpful, but I don't think its well written enough that you could rely on it exclusively to pass the exam (at least I wasn't able to). Though it was generally okay, some of the readings were weak and not well explained. The pension chapter is one of those. Also, the later economics readings were not well written imo, and most of portfolio management was also written like crap. Oh, and alternative assets was pretty badly done too. As for stuff they did a good job on, I'd say they did an okay job on Intercorporate investments, Multinational Operations, Derivatives, Fixed Income, and an okay job on ethics.

The big weakness was the question bank. I found that many questions in it were wordy, too easy, but still managing to be long and tedious; kind of like if I asked you to calculate the mean of 10 numbers; not difficult to do, but takes time and is annoying.
To contrast that with actual CFA exam questions, the exam questions were quick to solve (no long tedious charts or tables to draw manually), but still had a higher degree of difficulty and even a bit of creativity on some questions.

All of this is just my opinion tho.

how is shweser?

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Schweser is not bad. It's less verbose than the CFAI text. I had a buddy who passed Level II and III with just Schweser material so I'm giving it a shot. I'll probably do EOC questions for CFAI and see if I'm missing anything from Schweser. I'm hoping to start my review in early April. As I'm going through Schweser I'm making note cards with important topics so I can do a quick refresh on the information. I've heard QBank sucks though for level II. If it's anything like Level I, I'd say Schweser sometimes focuses too much on the number crunching aspect and not enough on the theory.

Are you planning on reading the CFAI text cover-to-cover? I've heard Level II is a lot harder than Level I, but the material isn't too bad so far. It just seems like you need to make sure you dedicate enough time to learn it and repeat a dozen times before June. Any thoughts?

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yeah, read my post on the 'Reading 23 Q5 - full and partial goodwill' topic. I spell out my study plan there

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Thanks! Do you mind sending your notes to me? hendriar14@yahoo.com

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Leave aside the formula for a while now. Here is how my thinking goes:

The smoothening effect allows the

A. Past service cost,
B. Deferred gain / loss = (Expected - actual return),
C. Transition liability / asset

to be taken to the OCI & lets you amortize the things each year.

So your liability includes

1. Original liability +
2. Unamortized past service cost +
3. Unamortized deferred losses (gains) +
4. Unamortized transition liability (asset)

Now, if you really want to be fair to your users, IFRS would say to the makers of financial statement: "Boss, you've a helluva lot of liabilities. Take all of them and subtract it with your fair value of assets"

Instead, what IFRS telling is: "Total liability - (point 2+3+4 above) - fair value of asset".

This stuff is blowing my mind. Can anybody please explain it with the logic?

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