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I used strictly Schweser for Level 1 and passed on first attempt.
I used strictly Schweser for Level 2, did about 1800 Qbank questions, 6 full schweser mocks and a cfai mock and ended up with a band 5.   I studied for 6 months, and did well over “300 hours”, but they were apparently not the right kind of hours.  Practice does not make perfect, only perfect practice makes perfect. I did not do anything in CFAI text, which in my case appears to be a huge mistake.  I spent too much time memorizing facts and formulas versus actually putting a pencil to paper and working practice problems.  IMO Qbank will prepare you for the easy questions, but not the more challenging ones.  For 2014, I will be focusing on working a ton of CFAI Blue Boxes and EOC, only referring to Schweser or the text when I am stuck.  All the reading I did was useless as I retained very little.
Side note: the note cards I purchased from Schweser aren’t worth a god damn.  Foolish purchase.
I work as a financial advisor at a brokerage.  My experience is more in financial planning.

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You don’t have to read the CFAI texts cover to cover to pass..
Having Schweser in your toolbox is fine BUT don’t depend 100% on it.
Do the CFAI EOCs and mocks at a minimum.

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Schweser + EOC + EOC for a second time will do it.

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long may your chimney smoke…a scottish blessing apparently..

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No finance background or experience.  Schweser only was fine for me.

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Schweser + CFAI book EOC questions will do the job

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In my experience, Schweser is fine for Levels I and II. I never opened a single CFAI book for those two levels. I do, however, have many years of buy-side experience.

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In Level I it will for most people.
In Level II it will not for most people - there is another recent thread here that discusses this.  I used it but HAD TO complement it with CFAI EOC and LOS and Bluebox examples to pass.  No background in finance here.

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