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- 2011-7-11
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- 2016-4-19
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What's most effective for Level II?
Since all of you studying for Level III passed Level II, I’m interested in your advice. I would especially like to hear from those of you who got 70% in all sections or did much better than you expected. What exactly separated you from those who failed? Why were you able to avoid the booby traps that others fell into?
I am amazed by the things I’ve been reading on the Level II board. I get the impression that the AF pass rate was actually lower than the overall pass rate for Level II. I also get the impression that everyone did worse than they expected going in or going out of the Level II exam. This is the OPPOSITE of what the Level I exam was like. Among the ranks of those who failed the Level II exam were the most knowledgeable AF participants, those who got 80% on CFAI mock exams, and even those who thought they passed with 70% in most or all sections. On the other hand, there were people who passed even though they fell short of 70% on the CFAI mock exams.
There seems to be a consensus that knowing all of the CFAI examples and end of chapter questions is key for Level II. Q-Bank is generally regarded as a joke, and Schweser doesn’t cover the details needed to pass. As a result, I will make sure to know all of the CFAI textbook examples and end of chapter questions. Depending on how quickly I can get up to speed on the basic principles, I may or may not buy SchweserNotes. I will take my results on the CFAI and BSAS mock exams with a shaker of salt with respect to predicting how I’ll do on exam day. I won’t bother with Q-Bank even though I found it valuable for Ethics and other sections I was concerned about in Level I. I know that even though I passed Level I with 70% on everything, it would be the height of hubris to approach the Level II exam the same way and expect to pass.
Has ANYONE with a good understanding of all of the CFAI examples and questions failed the Level II exam? |
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