How to plan time till exam (level2)?

Aliandr · June 10, 2015, 7:51am

Hi everyone,

I’ve just finished with CFA level 2 and have my CAIA level 2 exam on September, 10.

I think that half of success is good planning, however I can’t imagine where I should start and how to allocate time to feel well-prepared. Also I don’t know how much time I need for review. I will have 5 days (from Sat to Wed) to repeat before the exam - is it enough?

What is a good stategy to pass? Please share your opinion.

Thank you in advance.

negatives_rates · June 10, 2015, 1:03pm

Privet!

I’m in the same situation, just did CFA level 1 and starting soon CAIA level 2 preparation.

I’ll probably buy official books?

There are two books there - Advanced Core topics in AI and some : Core and Integrated Topics 2015

I’ve heard Uppermark is good for Qbank, but never tried it,

PS I passed level 1 with official materials only

Aliandr · June 10, 2015, 1:17pm

Wow - excellent knowledge of russian:))) Thank you!

I prepared for level 1 with Schweser, it was enough, however I felt that exam material is much more deep dive than basic concepts from Schweser.

I have already bought 2 officila books, but feel I can’t get the idea (or secret?) how to use it effectively. I mean, test is based only on “Core topics” and book 2 is just to have a broader prospective? Also what is good time priod for makeing a review? Uppermark has it seminar on Aug, 22-23 and Schweser somewhere at the end of August. Taking into accout that exam window opens on September, 8, I’m not quite sure that 1 week for revision is enough.

negatives_rates · June 10, 2015, 2:02pm

Yeah I speak Russian

I was looking at CAIA Kaplan books, but they are the same length than original books…

Strange, because for CFA level 1 Kaplan - 1500 pages vs original 3200 pages, with CAIA Kaplan slightly over 1000 pages vs slightly over 1000 pages

The second official book is basically bunch of articles, have you had a look at it?

Concerning timing - no idea, I probably go thru materials first, then questions

Zubbo · June 10, 2015, 2:09pm

Hi guys,

Best of luck to the both of you on your recent CFA exams. Regarding CAIA L2 - I personally used Schweser to cover the topic materials, as it explained them succintly, and Uppermark’s Qbank, as I felt it’s questions prepared you much better than Schwesers.

Regarding timing - I wouldn’t underestimate the time to get used to it. CFA L2 is great in that there is overlay in materials however, I would recommend getting through all the materials and questions and leaving 10 days to review the materials and do practice tests. I can send you my study planner for L2 if you’d like.

Z

Aliandr · June 10, 2015, 2:12pm

Yes, I have, that is why I have no idea how to use it.

Are you going to read all material and then all questions?

Have you already started?

negatives_rates · June 10, 2015, 4:35pm

Zubbo,

thanks for info! hopefully 150 hours is enough?

negatives_rates · June 10, 2015, 4:33pm

no haven’t started yet, just ordered the books. I am still recovering from CFA and especially from “after CFA drinks” haha

I can spend 150 hours max for CAIA 2, is that enough? fingers crossed…

negatives_rates · June 10, 2015, 4:33pm

no haven’t started yet, just ordered the books. I am still recovering from CFA and especially from “after CFA drinks” haha

I can spend 150 hours max for CAIA 2, is that enough? fingers crossed…

negatives_rates · June 10, 2015, 4:33pm

no haven’t started yet, just ordered the books. I am still recovering from CFA and especially from “after CFA drinks” haha

I can spend 150 hours max for CAIA 2, is that enough? fingers crossed…

negatives_rates · June 10, 2015, 4:33pm

no haven’t started yet, just ordered the books. I am still recovering from CFA and especially from “after CFA drinks” haha

I can spend 150 hours max for CAIA 2, is that enough? fingers crossed…

blu2014 · June 10, 2015, 4:45pm

2 key ingridients to success on CAIA L2:

Study materials - official books, Schweser - doesn’t make much of a difference. For some people one pass through the books will be enough, for most of us - make sure you go back and review.
Practice - Uppermark software seems to be popular choice here. I went through the questions in two passes: first pass - all Qs, then reviewed the ones I got wrong, and answered them during second pass.

If you can get your hands on other materials (such as old Schweser exams, CAIA sample exam, etc) and have time - by all means go for it.

3 months should be enough time to prepare, assuming you have a study plan and follow-up on it.

negatives_rates · June 10, 2015, 4:52pm

thanks Blu!

3 months - how many hours you reckon?

blu2014 · June 10, 2015, 4:59pm

It’s hard to say and will depend on the individual, I personally never measured hours.

CAIA guidelines suggest at least 200 hours.

Zubbo · June 11, 2015, 5:19am

The hours really depend on the person and their familiarity with Alts and finance in general.

If you’ve been thru the CFA exams, you’ll need less time than a fresh psyc grad.

I’d budget 220 to be on the safe side, but dont stop until your comfortable with the cirriculum

negra · June 11, 2015, 1:46pm

It is more than enough.

I am in the same situation also. Just sitted for CFA L3.

Will read the official material in End July-August. And practice during the last 10 days before the L2 exam.

Bought Schweser Flash Cards for a new experience. Everyone talked posivetely about it for CFA. I have never tried. I am curious to see.

I have not found many practicing material though.

But I guess 2 sample exams are enough (compared to 6+ for a CFA).

Uppermark could be an option, but I am not willing to spend so much in the packages. Wished they sold only mocks.

blu2014 · June 12, 2015, 2:14am

FYI - they do offer just the TestBank software, no need to buy any packages.

negra · June 12, 2015, 12:38pm

Thanks for your hint Blu. How is this TestBank? only question or full mocks?

negra · June 12, 2015, 2:03pm

Just checked it. Seems nice

UpperMark TestBank software has four main functions.

Practice Exams - Customized Create customized Practice Exams based on any component of the CAIA curriculum (Topic, Chapter, and/or Learning Objective). Customize using numerous options: specific number of questions, all questions, calculation questions, conceptual questions, questions you got wrong, new questions added to TestBank, and much more.
Practice Exams - CAIA-Weighted Create CAIA-weighted exams based on 50 or more questions. This feature helps you prepare for full-length Mock Exams by practicing with shorter CAIA-weighted exams.
Full-Length Mock Exams Generate Mock Exams with questions weighted according to CAIA guidelines. Even take the optional 30-minute break after the first session of the exam - like on the actual exam!
Test History Review your performance on past exams and the details of each exam. Use the _Analyze Performance_feature on your Mock Exams to identify your areas of strength and weakness.

blu2014 · June 12, 2015, 4:03pm

It’s both.

Basically they have close to 1400 multiple choice and essay questions and you can group them and go through them in any way you want - by topic, mix of topics, as a simulated exam, etc. You can mark questiosn for later reviews, create custom exams based only on incorrect answers, etc.

It’s really great software, definitely a must for your exam prep.