please share your precious level 2 experience experience

Elliotbay

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

IAmNeil

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.

Analyze_This

CFAI Text and several mock exams. Good luck

former

Arial10 Wrote:
-------------------------------------------------------
> 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.

OmarAdnan

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

John10

cgeorgan Wrote:
-------------------------------------------------------

> > 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.

stockjaguar

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

dvilayphet

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.

RoastBeef

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.

spreads

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.