I’ll be taking L2 in September (with none of you I hope!). Any advice? Based on my AF research, L2 CAIA is significantly more difficult than L1 CFA or L1 CAIA. Thanks in advance!
On every topic on which there is a possibility of calculating something, learn the calculation. Do not look explicitly for the words calculate. Do as many practice exams so that you can do the test fast enough. Unfortunately, I may be joining you in September.
I agree - take lots of practice tests and get good at speed as well as accuracy. It also might be a good idea to start with the current/integrated topics which are more interesting and generally easier to remember, then work your way down to the textbook.
So you know how hard this exam is I will rank some with my experience: CFA 2 [2.5x harder than CAIA 2] 400+hrs CAIA 2 [.3x harder than CFA 1] 230hrs [if you have not taken other CFA exams, you may need more but you have so 230hrs is a good target] CFA 1 [2x harder than CAIA 1] 300hrs CAIA 1 [Not hard at all] 150hrs Not everyone will feel the same but this is my assessment. Doing questions at this level pays off more as they don’t even change some of the questions on the actual exam.
Quantjock - Count me in. I may also take this in September with you. What material you guys used for level II? I used schweser for level I and used Q-Bank from uppermark and was able to score everything above 70.
My advice is to avoid Uppermark. Their material, including the testbank, had too many errors. Note that there was a lot of material recycled from previous rounds but they still hadn’t corrected them. Even the formula sheet had two errors that were not reflected in their errata. On top of that, there is a big risk that what you order is delayed. In fact, the only thing that worked well was billing - the credit card was charged immediately.
shootingstar Wrote: ------------------------------------------------------- > My advice is to avoid Uppermark. Their material, > including the testbank, had too many errors. Note > that there was a lot of material recycled from > previous rounds but they still hadn’t corrected > them. Even the formula sheet had two errors that > were not reflected in their errata. > > On top of that, there is a big risk that what you > order is delayed. In fact, the only thing that > worked well was billing - the credit card was > charged immediately. +1 same experience, tons of errors, delay, delay, small shop small staff Hope you are enjoying life on the BIG L3 cfaboston28. You better be gone when I get there next year…haha:) I found the CAIA material much more interesting with all the trading strategies than CFA’s accounting. Good luck in Sept. to you both.
Is schweser enough for level 2? What is the difference between the current/integrated topics and the textbook. isn’t that the same.
I’m taking in September if I pass L1, and am not completely burnt out by CFA Level 2. Any thoughts on Schweser v. Uppermark. I used Uppermark for L1 and was happy, but quite pissed at how late I got it.
I used Craplan…er sorry Kaplan. They released their material by mid December so were not as late as Uppermark. That said, for the first book (covering the topics of the text book i.e, everything except current and integrated topics) the number of practice multiple choice questions is too few. For many of the chapters they would give only 3-4 multiple choice questions for practice. I found the commodities section to be very badly written. Kaplan tends to confuse between backwardation and normal backwardation in a number of places. They do not even show a futures curve even when discussing trading strategies. To an extent they are copy pasting and just changing the language. So a glaring error in the text book (on favourable scenarios for bull and bear spreads) was faithfully replicated. In general, I found that where ever there is a concept to be understood the original texts were better. Where there was a large element of cramming Kaplan did an okay job. @Supercop - the text book covers all the main concepts for PE, commodities, managed futures, real estate and hedge funds. Current and integrated topics deals with different research papers which give a more in depth understanding of these areas along with some additional topics. In my experience: CAIA Level 1 = A walk in the park CAIA Level 2 = A walk in the swamp
thanks Amit
thanks Amit Are there pratice questions in the text books or only schweser/upper has questions.? will i need to buy the level 2 sept books kaplan notes or are the march 2010 kaplan notes sufficent for the sept exam. Does the material chance even though the year in the same. for the cfa the jun and dec exam notesa are the same. amit do you have the errate for level 2 march exam for kaplan? request your kind input.
Nep-hi Wrote: ------------------------------------------------------- > shootingstar Wrote: > -------------------------------------------------- > ----- > > My advice is to avoid Uppermark. Their > material, > > including the testbank, had too many errors. > Note > > that there was a lot of material recycled from > > previous rounds but they still hadn’t corrected > > them. Even the formula sheet had two errors > that > > were not reflected in their errata. > > > > On top of that, there is a big risk that what > you > > order is delayed. In fact, the only thing that > > worked well was billing - the credit card was > > charged immediately. > > +1 same experience, tons of errors, delay, delay, > small shop small staff > > Hope you are enjoying life on the BIG L3 > cfaboston28. You better be gone when I get there > next year…haha:) I found the CAIA material much > more interesting with all the trading strategies > than CFA’s accounting. Good luck in Sept. to you > both. Hi Nep-hi. We miss you on L3 forum. I am not sure whether I will pass L3 as it is a different beast. I am sure you will seal the deal this time around in L2. How did you do in CAIA L2 this month?
I don’t want to speak too soon then get smack for having false confidence…haha but I thought it was ok. Did well on the essay part, the MC was a rush down to the second, some calculations was way too long and others ques was a 10 second decision. I still can’t believe they had some questions exactly worded, same numbers, as some samples I’ve seen. Had to guess on some crush/crack spread futures stuff that would not end. In all I think I will average out ok. If not it was purely from not studying very hard. Only put in 228hrs, was saving energy for CFA L2 in June and just sick of studying…yuckk Please concentrate harder and pass L3 to give me and others more motivation and hope that all this will end soon:) I know you can do it and close this deal! If there’s a will there’s a way, you know you want it really bad…hahaha -me too:p Worry about CAIA L2 after June 5th.
dbfinley Wrote: ------------------------------------------------------- > I’m taking in September if I pass L1, and am not > completely burnt out by CFA Level 2. Any thoughts > on Schweser v. Uppermark. I used Uppermark for L1 > and was happy, but quite pissed at how late I got > it. I am facing the same situation, mate …welll looks like I am not quite burned out now for cfa 2…