HOW DO U ACTUALLY PASS THIS?

CFA Level II
#1

Really, I have no clue in terms of how to pass this level

It feels almost as if studying and practising questions are not helping.

Can someone give input on what methods they are using? Or methods that have worked for people who passed the exam

#2

I have no idea if this will work or not, but I picked 18 readings to focus on above all else: 3 from FRA/Equity each, 2 from FI, Corp Fin, Deriv, and one fron the rest. Then just hamming away at each over and over. I’m not ignoring the rest, but putting most of my time into those 18. There’s obviously points of intersection between FX, FI and derivatives, some between FRA and Equity (a bit).

Sometimes I build a model of a thing in Excel. Sometimes I draw cause-and-effect in powerpoint. I literally started making animated GIFS of portfolio accounting at one point, which sounds about as stupid as it was. I go and read S2000 Magician’s website on my phone after dinner, and watch youtube video after youtube video. Eventualy a couple of things budged and started to make sense. Then, 3 days later, I’ll have no idea what clicked, so over and over and over. My theory is that you can memorize a lot of stuff in the final 4 weeks, but it takes a lot of distributed learning to internalize really complex stuff. Plus, the stress of the final weeks makes it impossible to spend 15 hours straight on a single reading. I will definitely hit 700 hours for this first attempt at L2. I don’t want to do a second. Ask me in July.

#3

I have no idea. I’m averaging about 2/6 for the FRA topic tests with my notebook opened right in front of me.

How in the world do you finish one of those vignettes in 18 mins.

#4

I am getting in the 2 out of 6 range as well. I have no clue what to do. I hope this changes by the time I start doing mocks.

#5

Finishing the Schwesar notes this week.

Have you done the original text end of chapter/blue boxes? Have you worked a lot of question bank questions. Seriously their is a lot to do even after reading the schwesar. The challenge problems are still game just keep plugging away and remember what you did to pass the 1st exam.

For me…

Schwesar questions + challenge Reading original text on hard areas and doing end of chapter problems Question Bank 6 Practice Exams…Reading the material is only half the game…Time to crunch out problems if you are done reading…

#6

  • Read schweser and do the bluebox problems.

  • understand the concepts as much as possible (at this stage you don’t need to know each formula by heart)

  • make sure you are writing your own summary specially for the computational intensive readings(and for others reading if you feel the need)

  • (optional) schweser concept checkers.

  • CFA end of chapters problems( at least do the problems with computations : FRA/pension, derivatives, economics, alternative, portfolio, quantitative etc…)

  • Do AT LEAST 4 full mocks, and correct all your mistakes by going back to the chapters to read and refresh.

  • I feel that if you do enough problems and correct them that will be almost like doing a 2nd reading.

#7

Thanks for all the information ppl

What mock exams would u all recommend?

#8

Schweser + CFAI

Finquiz if you have time

#9

You’re not trying to get 100%…just enough to beat the majority. Every review you do, every hour you put in puts you that much closer to beating the majority.

Most of you active in this forum are already well on your way to a pass.

This test becomes more of a mental challenge than anything.

#10

Do you think the exam is curved?

#11

Not curved, but they use the Agnoff method for determining the MPS based on what a borderline candidate would get right or wrong.

You just have to be better than a borderline candidate for that exam. Those are probably better words to describe it. Determination of what is borderline is still subjective. Based on somewhat consistent pass rates, a significant amount do worse than the borderline candidate and fail.

#12

The first statement you made seemed to imply that your testing cohort had an influence on your pass/fail status, so I would agree the second explanation is better.

However, I understood the Angoff method to, essentially, determine the score a minimally competent (not necessarily borderline-- it’s that they aren’t borderline and hence, minimally competent) candidate would receive on the exam (based off of an expert board’s evaluation of the exam questions). Your definition would imply, then, that borderline candidates pass, which seems contradictory to the stated goal of passing competent candidates.

Maybe I’m being too particular, but it seems as though your use of the “borderline candidate” has the implication of needing to do better than peers, when it’s more that you need to do at least as well as the testing panel thinks you should (and coincidentally, most of your peers aren’t at the threshold).

In any case, I think you’ve got a good take home message in that preparation will win out in the exam.

#13

yup

#14

Glad we agree wink

#15

We got this…Just got to pump our problems and review. To me doing 8 hours or reading is harder then doing 8 hours of doing problems/review…Reading is probably 150 hours and then 150 hours left to review…That is the way I am looking at it. Some people read faster then others some people take more notes is all variable…But the last 2 weeks before the exam is when things started clicking for me. It was nerve racking but just know we are going to be in a different situation even after 2-3 weeks after we complete the readings…

#16

you must be fun at parties

#17

You’re still on this? I even agreed with you about something…

#18

just an observation

#19

Thanks for all the information and motivation ppl

Btw, Is that how the passing system works?

I thought a MPS was set based on charterholders who act as test-takers and an average MPS is based on the marks they score.

#20

Seems like a big leap to make from an internet forum post, but if you say so, it must be true.