Just wondering whether most do Dec Level I and then the following June Level II or wait till the year after?
I did December 2014 L1 and June 2015 L2. I was in school and working during that time. It really depends how you feel you can manage it. In a worst-case scenario, you’ve already got a jump on L2 studying for the next year (as long as the money isn’t a significant issue for you). If money is a factor, then it may be optimal for you to have a full year to study L2 (or even more, if you start with old L2 books).
I took L1 in Dec 2015 and now sat for L2 this month. I can say for sure that L2 is a whole different story and much more difficult than L1. It’s not only about the metrial covered and flexible weights (here you have to study for 150%, since the weight of each topic is not fixed). In addition here you have fewer questions (120 only) and just one vignete for some topics. This means that if you miss 3-4 questions on that vignette, most porbably you will get below 50 on that topic. However, I can’t imagine what I would have done differently if I had studied for a whole year instead of 4 months. 4 months are more than enough if you are determined and have the commitment.
L1 Dec 2015 & Level 2 June
I did. Didnt start studying until late March because even though I read how difficult L2 was I still underestimated it. Did 350 hours of studying in 11 weeks and hit low to mid 60s on mocks. I’ll be ready if I have to take it next year, I realize how much effort is needed now.
Here, here! Sat LI in Dec 15 and began studying for LII prior to finding out results. Thankfully, the 3 weeks didn’t go to waste and kept truckin’ onward. LII was a total beast compared to LI, imo. Didn’t begin to feel comfortable with the material until the final two week sprint before exam day. Even then, there were a lot of soft spots. Firmed up a ton on areas that I was contemplating punting (derivatives, PM, & econ) and hope that helped out in the end. Lump in the time constraint, a demanding full time job, and attempting to keep the misses from wanting to leave me, all I can say is that I hope I do not have to go through that again.
edit: Prep included 375 hrs across 4.5 months & 7 mocks that began with a 59% then ratcheted upward to mid-70’s at the end. Exam day seemed frantic to me, but i can only really remember the 7-10 questions that i dwelled upon knowing that i had to toss up a hail mary on. All in all, i’m hopeful but prepared for bad news.
I did and overkilled myself with over 500 hours studying for L2. I work, have 3 kids and turbulent sexual life.
I did the quick turnaround Dec 14/June 15. Even though I failed (band 7) I’m happy I put in the work as I believe it set me up for success this year. Don’t wait because there’s a pretty good chance you’ll need to take L2 a couple times.
Dec 15 > June 16 I felt myself wishing I had that extra month back that I had to wait for the L1 results. That extra month would have been huge being that without it I felt ok going in and coming out of the L2 exam. With it I feel like I would have locked up my weak spots and crushed the actual exam.
I did June 15 L1, June 16 L2. I probably could have done Dec then June but you really would have basically disappeared from your life for almost a year. I studied for L2 at a pretty relaxed pace, starting in November and going pretty gradually even taking a nice vacation mid march, then from mid march to the exam went pretty hard. If you just go HAM from after Dec L1 to L2 June it would be possible.
I hadnt studied from L1 to L2 so I was pretty rusty and it took a while to get back in a groove which slowed me down as well. I can see that being an advantage to doing back to back, especially seeing as how 2 readings on long lived assets & leases are basically the same as L1.
I attempted it last year (Level I Dec 14, Level II June 15), and missed with a Band 9 result. It’s tough, but not impossible, and I’d recommend it if the registration fee is not a major financial contraint. Also, I don’t know about other study providers, but Wiley offers a pass guarantee, so you’d have access to that content for another year if you happen to miss a pass. The Wiley study notes are well done and helpful for those on a short study schedule, and many of their video lessons are well done. But for practice exams, I’d recommend Schweser and buy them ala carte.
A lot of it boils down to a combination of your intellect, education background and work experience. Take tickersu up above for example. The dude is extremely smart from what I’ve seen based on his interactions on these forums, and I’d venture to guess his education and work background along with that set him up to get through the material faster and with deeper understanding than the average candidate. He didn’t just pass Level II, but he 70+'d every category if I recall correctly. Not everyone can do this.
So, in short, go for it if you’re thinking about it. I think where my study plan failed last year was spending too much of my available time on the material itself and not enough time taking practice exams (mocks). Assuming a 4 month study schedule (Feb - May) your goal should be to get through all of the material in 3 months then spend the final month on 6 or 7 practice exams, memorizing formulas and working on a deeper understanding of topics you may be struggling with. But everyone learns differently, so make a plan that works for you and stick to it.
It’s a steep hill but not impossible. Good luck!
I’ve sat for both Dec 2015 L1 and L2 on June 4th. I definitely felt pressure to rush through the material. You dont get your L1 results back until late January and by then, you should’ve been done with Quant and Econ section of L2 curriculum. I took a kaplan online class and missed the first 2 classes because of this. I know people who have passed L2 after taking L1 in June, so its possible. It just requires slightly more effort.
In similar shoe…
Come July, should call for justice.
I did level1 in December 2015 and level2 this month, and I feel exactly the same. I wasn’t able to study until the beginning of April because 1) I couldn’t start my study until the result came out 2) personal stuff came up. I knew my chance of failing on this exam was high but I gave it a try and did my best. Even though I knew there wasn’t sufficient time, I wanted to take it when many level1 knowledges were fresh in my head.
Anyway I just want to know whether I passed it or not. Waiting is torture.
You’re too kind. I’ll admit that education was a big advantage for me (my industry experience is minimal). My degree allowed me to cover the curriculum very quickly while avoiding the need to look back over a lot of material.
Did LI Dec15 and LII June16, so know the feeling. All very good points above, but the other thing that swung me into early action was the question about whether I would really make the best use of a full 12 months. Knowing myself, I would have sat back for 6 months and then ramped up in the last 6 - i.e. it didnt matter whether I had 6 months or 12 months, I would have had the same outcome.
The only real draw back to going the double is the cost of the exam which may/may not be a problem for you.
This results waiting business is starting to get a bit tedious.
Did Level 1 December and Level 2 June. It was bad, but not breaking point bad (it depends on your reference point as well, if you’re used to having long breaks it might seem worse). I started at the beginning of February, and felt that the month and a bit off was enough time to recharge and enough time to cover everything. I’d recommend it if you don’t have anything stopping you (kids etc), as you’re effectively adding another year of CFA if you don’t…