My June result was just revealed, failed by a margin. Only Portfolio Management and Alternative Investment were below 50% by just a lil bit. Economic was >70%, everything else between 50 and 70. It was a very frustrating fail as it was only a little bit. I have already started looking at Level 2 Equities session in July. Has anyone had the experience of studying both Level 1 and Level 2 contents at the same time? I really need to tackle Level 2 by June 2019 as I’m turning 30 by the end of next year.
A little bit background of myself. Graduated from UNSW Master of Financial Analysis 2 years ago. Haven’t broken into the financial market field. Currently working in a property development in terms of cost analysis. I have plan to go back to work in China in 1 or 2 years’ time and since Real Estate market knowledge is not that much transferrable in different areas, I started doing CFA thinking of breaking into the world from REITS side. Happy to take any advice.
I’m just afraid of time constraints as the result of December comes in the end of January which will only leave me around 5 months to prepare for L2 that’s much harder to tackle.
Focus on passing the first in December then study your arse off for l2 in June next year. No need to over commit. You don’t want to be burnt out may next year. You don’t want to fail l1 again but you focused on l2 material. Take this from a guy who is doing CFA, CA and FRM at the same time. You can start studying l2 the weekend after l1 and that is plenty of time.
You could start with studying for L2 right after December exam, no need to wait for results. 7 full months of studying is more than enough time. A lot of people take the whole CFA program in 18 months, so I think 7 months for just L2 is ok.
Everything else was between 50-70 means you have not fully mastered CFA Level 1. Try to prepare so well for CFA Level 1 that you are sure to pass Level 1. Then you can start preparing for L2 after taking a 1 week break. If you study well for CFA Level 1 you wll have strong background for CFA Level 2. You don’t want to fail L1 again and wondering what if you had totally focussed on CFA Level 1.
Just do level 1 in December then start doing level 2 why do you need to do them at the same time? I passed it this way and so have many others. You were close to passing level 1 so just make sure you practice more questions this time that is the key to passing CFA. Do the official mocks as far back as they go. Also re-read the problem areas.
THe CFA subject matter is easy but the problem is the quantity. This is why I think people who study it over a long period of time do not have an advantage over those who condense it into 3-4 months per level. Over a longer period you will forget the information and it is harder to keep it fresh.
I would suggest concentrating on L1 until December. Take a week or two off and you could start L2 thereafter. It will be less tiring and exhausting than preparing for both levels together whilst being almost as effective.
Based on experience, starting studies for Level 2 exam a week or two after the December exam will not be too late. Your only problem will be getting the study materials.
So here is an analogy for you. I was in a NFL betting ring in work where on a week by week basis we had a team that we can pick but we cant use again, so I picked the Chargers at home to the KC Chiefs in order to save my big picks for later and take home all the cheese. I lost the bloody game and now am down 50 bucks. Don’t do what I did, just nail down one level and then on to the next.