Lvl 1 & 2 Six month window window

ajpheif16

SIAP

How many of you passed lvl 1 in Dec 10 and just took lvl 2?

Obviously we all know that's cutting it close as far as the time needed to master the lvl 2 but I'm curious if anybody was in this boat?

Did you feel prepared? Is it realistic?

Thanks in Advance!

stockjaguar

It is realistic, but you should start as soon as you receive L1 results (or perhaps even before). I started studying for L2 in late March, and it was pretty tough to master all the material in that time.

Windjam

I did this too. Passed LI, started studying late Jan/Early Feb. Feel good about my chances, although i wouldnt be surprised if i failed (as i think is the case with everyone. Theres no way to know). It is tough and you get burnt out. My friends hated me by the end as i never weent out. I ended up putting 480 hours into level II, really hoping it pays off when i get my scores. I figured suffer now and i wont have to retake the exam next year. Keeping my fingers crossed and will def be back to report. Either way i know i gave it my best and if i failed it wasnt from not being prepared. these tests can be failed by anyone, no matter how comfortable they are with the material.

joehogue

Passed level 1 in Dec, feeling good about lvl 2 now.

Used Elan only for lvl 1, used Schewser study books only for lvl II (with some CFA EOC and Mock). If I had to re-do it, I would do the following:

- Read Schewser, do practice problems
- Read Schewser again, do practice problems again
- Lots of mock tests

I only took 2 mock exams, got a 78% on Swesher book I exam I, and a 75% on the CFAI mock.

ruchita

I passed level 1 in December and started studying for level 2 in March.
I used schweser for all subjects except ethics. I did the entire schweser material thrice and scored around 78% on 2 schweser tests and 75% on the CFAI mock.
I felt quite prepared before the exam but I found the exam (6061) to be tougher than the mock.
I am not as sure as I was when I gave my level 1 exam so keeping my fingers crossed.

infinitybenzo

I studied my arse off for the December 2010 Level I test. I used a full nine months to study. I read the entire CFAI text, did all the EOC questions. I also read about 60% of Schweser notes, and did 60% of the concept checkers. I did Elan's 2000 practice questions, Elan's Eleventh Hour Guide, and I took about six mock exams. I was beyond burnt out by the time I hit the test, and although I passed, I scored betwen 50-70% on four topics, so it was probably pretty close to a Band 10 fail.

#1 Lesson learned from Level I: Learning Retention is key. Learning retention strategies ought to define how you approach studying for Level II.

For Level II, I got a slow start to studying, still burnt out from Level I. I started in late February, giving me only 3.5 months to study. I decided early on, that there was no way I'd be able to get through the CFAI text. I used Schweser notes, and concept checkers. I did all the CFAI text EOC questions. To ensure learning retention, I filled out flashcards from the very beginning of my studying to ensure that I had something to refer back to. I also purchased Schweser's flashcards, which I found quite helpful. In the last week of before the test, I completed two mock tests, and pounded my flashcards and Schweser's flashcards hard. I also built a set of flashcards that had a formula concept on the front, and the actual formula on the back. I forced myself to be able to write every single formula (that I felt was tied to a testable topic) from memory in the two days prior to the test. When Saturday rolled around, I knew I was as ready as I could possibly be for 3.5 months of hard work.

I don't know if I will pass or not. I feel pretty good about how the test went, but from what I hear, Level 2 is a crapshoot.

Good luck!

redskins44

I passed level 1 in December and then started studying for level 2 after the first of the year. I went through the CFA curriculum once and Schweser notes twice. I can't speculate on my score. I will be in Spain, on vacation, when the results are released; I don't know if that's a good thing or a bad thing....

Walex

I took L1 Dec 09, and L2 for the first time last June. Doable? Probably, if you have serious tunnel vision and don't work 12 hours a day. Recommended? Definitely not. People warned me not to try, and I thought I could do it anyway. I started studying in February last year, and had a terrible time buckling down. Those few weeks of freedom while waiting for my L1 results totally derailed me.

All of that said, it's absolutely my own fault that I didn't pass (band 6). I didn't study hard enough, plain and simple. This year, I did, and I still don't know if I'll pass. Level 2 is not to be blown off, that's for sure.

If you think you can trudge through without being distracted, go for it. But in retrospect I wish I had just waited, and enjoyed those months instead of half ass studying/half ass having fun.

brain_wash_your

I passed Dec 2010 and took it in June. I started studying around October/November for L1, and ONLY did Qbank and passed. I was under the crazy impression I could pull off the same feat on L2 until thankfully I ran into a CFA charterholder who set me straight who failed L2 (very bright guy). Then I jumped on these forums and saw some very intelligent retakers on the forum. That scared me and made me realized this thing is no joke. I wish I had another 3 months before I took it.

Its very difficult to get through all the material in a meaningful way. There was very little I could actually read.

I started in March. Here was my method (in chronology):

1) Did Schweser Video for Quant and Ethics and EOC Schweser Q's
2) Took John Harris Accounting Class without reading material. If I pass the exam (not feeling great about it but still feel I have a shot), then John Harris deserves some credit. Accounting really stuck well for me after his class. I spent very little time reviewing it. I even score high on the accounting sections of the sample exams (not mocks the samples).
3) studied about 50% of Equity
4) Took Schweser 3 day live course - Good but very high level, doesn't get into the nitty gritty. Very good at helping setup a framework for understanding the big picture though. It was very very helpful on currency and arbs though.
5) Talked with professor, she went over my previous background (took a quarter of derivatives, fixed income, portfolio management in MBA program 8 years ago).
6) With the time crunch at that point, I jumped into the questions/mocks

I hit high 50s low 60s on first two mocks but then really reviewed the topics I missed well (using CFAI, Schweser notes, videos, anything it took to get it to stick).

By the end I was scoring 70's in book 2 Schweser (except book 2 AM, ouch!). I even broke 80 in one of my final mocks. I got a 70 on the CFAI mock.

But on the exam, I know I messed up some sections.

Then my daughter was born the Thursday before the exam. I lost about three days the last week before but to be honest, that will not be why I didn't pass. I was running on very little sleep but I do know that I felt I knew 50% of the material well and the rest was sketchy. The more you work with the material the better you will get and the faster you will get. You will also stop memorizing formulas and realize that formula memorization can be a crutch. When you KNOW the material the formulas will just come to you.

If I were to do it again, I would still have started answering questions sooner. Forget passive reading (at least for me). I doubt many people ever say, "I started answering questions too soon".



Edited 1 time(s). Last edit at Tuesday, June 7, 2011 at 05:46PM by stingreye.

Iginla2010

I started late august 2010 for level 1 and late february for level 2

first time - it worked
this time - will have to wait and see end of july