I was fortunate enough to pass this year, however last year I failed with a Band 8. And I’m sure a number of people on here passed on their second attempt as well, so don’t get discouraged if you failed. It sucks, but get back after it next year and get it done. Don’t let that doubt allow you to throw in the towel, all the work and studying you’ve already done is a sunk cost.
I agree – don’t get discouraged. Level 2 demands an enormous amount of work, especially if you don’t work in a position that requires significant quantitative skills. A large percentage of those who passed this year are repeat test takers. I suspect that for most participants L2 requires much more than 300 hours of preparation.
If you are planning to continue in the program, sign up now for 2015, and:
–Start reading the CFA texts right away. Begin with the areas where you did the worst.
–Make index cards and review them regularly.
–Do some of the end of chapter problems after your first reading of the material (you’ll do them again in the second round of review).
–Read Greg Campion’s book, CFA Confidential, for encouragement. He’s got a great perspective on what to do if you fail an exam.
When the Schweser materials are available (usually in late October), begin your second review by chapter, including all the CFA EOC and Schweser problems. In my opinion the key to Level 2 is to do as many practice problems as possible, which reinforces all the formulas in your memory and when it is appropriate to use them.
Give yourself at least ten weeks before next year’s exam to take as many practice exams as possible (CFAI, Schweser, etc.)
When I was writing L2 I found both the Schweser videos and the final review workbook to be quite useful during my final review period. Also, if you are in the NY area, consider taking the CFA 2 review course at NYSSA. It’s worth every penny.
Good luck on your 2015 exam.
I disagree, for retakers dont start now, take a break until October and study regularly with a month in the end for practice… thats it
huuuuuuh? you do not need to spend more than 3 months if you are a retaker. that is just ridiculous.