…just thought you may find it interesting and possibly have a theory as to why! 162k posts, versus 129k for L1, and 119k for L3. http://www.analystforum.com/phorums/index.php?23
It’s either the toughest level, many candidates need to post numerous ‘help questions’. Or also the most confusing level, as even the most simple ‘help question’ can turn a thread into a 22 reply debate. Or it is the most boring level and candidates need a distraction!
Either, it’s proof that level two sucks.
I think we could have a baby-boomer type demographic bubble moving through the CFA exam. Wasn’t the biggest class of level one candidates ever in 2009 [June and Dec]? That would mean [all else equal] even with the low pass rates, that 2010’s Level II class will be the largest group of candidates to sit the June exam, right? Assuming: -Candidates go straight from Lvl 1 to lvl 2 -There wasn’t a bumper crop of failures from 2009 lvl2 test takers [though that would help the argument] -The percentage of candidates taking the exam using AF stays relatively constant over time
actually even last yr i noticed level 2 was the busiest forum and level 1 was dead
Ive heard from numerous sources that L2 is the hardest. In fact, none of my friends who either have the charter or are testing L3 have passed the first time. It leads me to believe that L2 pass rates are primarily weighted with retakers and that a minority are first timers. Many said that simply studying the CFAI material is not enough and that they enrolled in classes by the local society or did review courses, supplemental material. Based on these unsubstantiated numbers, consider 100k people taking L2, 50% or 50k are retakers, they have a distinct advantage as they have reviewed the material over a longer period of time. Say they make up the majority, or 75% of pass scores. The 40k * 75% = 30k pass scores are retakers with 10k leftover made up of first timers. 10/50 = 20% of first timers pass. Sobering theoretical analysis.