I just cleared the cfa level1 exam by solely using the schwester notes, I am wondering whether I could pass
by using the notes only or do you have some other suggestions, really appreciate every piece of advice作者: IAmNeil 时间: 2011-7-27 13:03
1. Level 2 is only 120 questions vs. 240 questions on Level 1. This makes it much easier.
2. The pass rate is higher for Level 2 than for Level 1. This implies it's much easier as well.
Just do it bro. It's nearly a coinflip pass probability if you show up.作者: Analyze_This 时间: 2011-7-27 13:03
CFAI Text and several mock exams. Good luck作者: former 时间: 2011-7-27 13:03
Arial10 Wrote:
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> 1. Level 2 is only 120 questions vs. 240
> questions on Level 1. This makes it much easier.
Is that some sort of a joke?
> 2. The pass rate is higher for Level 2 than for
> Level 1. This implies it's much easier as well.
Fun with statistics. No mention of the fact that everybody who is taking L2 already passed L1.
> Just do it bro. It's nearly a coinflip pass
> probability if you show up.
Must not have taken the test.作者: OmarAdnan 时间: 2011-7-27 13:04
You are clueless bro
1. 120 questions with item sets - way damn harder! promise you that
2. pass rate is 43% for L2 and 39% for L1. That means the 39% who passed L1 and put in effort only 43% of that group will pass L2. That says alot!
My advice. . use kaplan first time around. Learn the basic material as much as you can.
then the last 3 months stick to CFAI text and fill in the holes your missing and overlapping that basic material you have learned.
drill on the practice exams and EOC questions作者: John10 时间: 2011-7-27 13:04
> > Just do it bro. It's nearly a coinflip pass
> > probability if you show up.
>
> Must not have taken the test.
Your right, that's why I sign my Excel Sheets with Arial10, CFA. Enjoy L2, round 2.作者: stockjaguar 时间: 2011-7-27 13:05
I used only schweser books and did a few questions out of the CFAI text in areas that I was weak.
The biggest difference between L1 and L2 for me was that after reviewing all the material for Level 1 I was able to score around 65% on my first practice test. With level 2 I scored about 55% and was forced to do a lot more frantic studying the last month. So my biggest suggestion for you is to take a full practice exam before April 1, you'll find that there is a lot more to review and re-learn.
regression also takes up a good 100 pages or so and I skipped the material the first time...dont make my mistake haha作者: dvilayphet 时间: 2011-7-27 13:05
I think the CFAI needs to add a vignette on sarcasm.
I failed L2 last year Band 8. Used Schweser only. I blame my lack of studying for not passing (~175 hours). Schweser is fine, but it's no secret shortcut. You still need to put in the time just as you would with the CFAI books.
Passed this year. 8 topics >70. Studied from the CFAI books only, redoubled my efforts, and studied around 315 hours. The biggest game changer for me was focusing on FRA. I bombed FRA in 2010, <50. I went to a John Harris L2 FRA prep workshop and it did wonders for my FRA scores. On the six mocks I took I scored an average of 86 in FRA. You have to know the big dogs, FRA + Equity, in and out otherwise it's going to be really tough to pass.
L2 is night and day compared to L1. L2 will humble the brightest of minds if you do not put forth a quality effort. There are a lot of people that took L1 and scored 10/10 >70, but managed to fail L2 miserably.作者: RoastBeef 时间: 2011-7-27 13:07
used schweser and passed both levels. didn't really read CFA text except in a couple specific accounting problems and ethics.
did EOC q's 2-3x. did 3-4 mocks. not much qbank, if any.
created my own notes + flash cards.
L2 is a lot more work/material (like 2-3x more), but the same detailed process I used in L1 worked for me.作者: spreads 时间: 2011-7-27 13:08
I recognize everyone learns differently. Having said that ------ I passed Level 1 in 2009 using only Schweser. I have always been someone who can pick things up quickly so I figured no sense deviating from what worked. I sat for Level 2 in 2010 using only Schweser and the CFA mock exam.... failed band 7. More importantly, I walked out of that exam 1) knowing I failed and 2) feeling completely unprepared for the kinds of questions they ask.
This year, no Schweser... studied only CFAI text and CFA mock and passed. The material is still hard, but I felt so much more prepared.
Point being, I know a lot of people pass level 1 with Schweser. If you want my advice, don't even bother for Level 2.作者: RepoToronto 时间: 2011-7-27 13:08
prophets
x2...same here. it can be done it's all about the person tho everyone is different
Edited 1 time(s). Last edit at Tuesday, July 26, 2011 at 12:47PM by sdanalyst.作者: SpyAli 时间: 2011-7-27 13:09
Here is my L1 and L2 comparison, more effort but lower grades in L2.
300/400/500 hours, its never enough. Start early and don't stop until finish.作者: Swanand 时间: 2011-7-27 13:10
Just try to know everything in the Kaplan Notes (which is already huge) and I can tell you that you will know enough to pass the exam. Practice exams and exercices are key during the last 2-3 weeks.作者: CFA4Techie 时间: 2011-7-27 13:10
I used a set of 2010 Schweser notes and videos the first time through the curriculum after checking for changes in the LOS between 2010 and 2011. Second time through I reviewed the Schweser notes and did CFAI end of chapter problems. Anything I was struggling with I read the CFAI text for until I could solve the problems. I focused most of my attention on FRA and Equity and nailed those sections on the exam. FWIW, I've been working in Equity Valuation for four years, so that section was not terribly difficult for me. I blew off Derivatives because they're really difficult for me for some reason. You don't have to get them all right.
Basically, I passed using a combination of Schweser and CFAI materials and put a lot of emphasis on the two largest sections (FRA & Equity).作者: former 时间: 2011-7-27 13:10
Well, biggest difference from L1 is volumes. L2 had many. With full time job, it usually knocks off the brightest.
Was wise (luckily) to avoid E-book and went for hardbound instead. Took FRA, Equity, Derivatives & FI books each day from October. To sit while going office, started in earlier train. Up & down travel, each 55 mins. Lucky I was able to concentrate hard in spite of noise.
This went on till March. From mid-march started Corp finance and simultaneously reread the big guns. CFAI books were excellent for these topics. Then came Chief distracters such as Cricket world cup, IPL & Rolland Garros.
By May 1st week, somehow I limped and arrived confidently about big guns and utterly terrified of others (AI, PM, Ethics, Quant, Economics). With short time in hand, shifted to Schweser for remaining topics. Then shifted to top gear, woke up at 4, studied till 8, arrived home from job by 9, studied till 11. By May 20, started mock tests. Scored 65-70% in CFAI mocks & 70-75% in Schweser mocks.
Out of exam hall, not as confident as L1. Later learnt that nobody comes out of L2 fully confident and those who did mostly missed the trap. How true!
Edited 1 time(s). Last edit at Tuesday, July 26, 2011 at 01:04PM by arunprasath.作者: ninja1024 时间: 2011-7-27 13:11
Few notes from my experience, I passed.
My Background - Bachelors in Finance and work as an FX Analyst for a major corporation
Notes:
- Studied from Schweser
- Did not do all Schweser practice questions
- Did almost all of CFA end of chapter problems(some multiple times...eg FSA, Equity, Derivatives). These are very important and will cover things missed by Schweser
- Did roughly 1200 questions from the Schweser q-bank. Good for retaining concepts
- Did the Schweser 16-week online seminar
- SChweser online videos are archived, and were great for second thrid review. There were two professors, you can view either. I preffered the lady who taught the British time course, but the US time guy was pretty good too
- Prepared 40 pages worth of notes, helped enormously for retention
- Bought the Elan review notes, but did not read all of them, but some of them were useful
- Things that I felt I was not well prepared-
- Ethics
- Derivatives
- Quant
- Retention is a big issue, don't be panicked, just revisit the material multiple times
- CFA mocks are very important.
I did not feel confident at all, and as arunprasath said, no one does.
Good luck to you all作者: wizofoz 时间: 2011-7-27 13:12
Arial10 Wrote:
-------------------------------------------------------
> 1. Level 2 is only 120 questions vs. 240
> questions on Level 1. This makes it much easier.
>
> 2. The pass rate is higher for Level 2 than for
> Level 1. This implies it's much easier as well.
>
> Just do it bro. It's nearly a coinflip pass
> probability if you show up.
You have the same amount of time for half the amount of quetions...wouldn't that imply that it is harder? Plus you also have less room for error.......
I suggest CFAI text book and use kaplan as a guide on some harder topics. Do tone of Mock exams and I suggest you do it earlier rather then later so you can go back to review your weak areas.
I have a psych degree, passed L 1 in December and L 2 today, both on first attempt. Do not be fooled....Level 2 is a beast! You have to know all the material!作者: bbtomato 时间: 2011-7-27 13:12
Arial10 Wrote:
-------------------------------------------------------
> 1. Level 2 is only 120 questions vs. 240
> questions on Level 1. This makes it much easier.
>
> 2. The pass rate is higher for Level 2 than for
> Level 1. This implies it's much easier as well.
>
> Just do it bro. It's nearly a coinflip pass
> probability if you show up.
I hope you guys picked up on the sarcasm. He was joking for all of you knuckleheads that thought he was being serious.作者: WarrenB1 时间: 2011-7-27 13:13
I used CFAI books exclusively and did all EOCs, Mocks once. I didn't use Schweser notes but found their Practice Exams and Secret Source very useful for the last week review. And more importantly, I passed level II this year. My two cents.
