General question about Level II
A week ago I took the Level I exam for the first time. Without wanting to sound too full of myself, I’m sure I aced the exam and I am now only waiting for official confirmation.
I have a question for CFA Level II. A good friend of mine who is a really smart guy said he failed Level 2 for a second time. And he is not the type of person to be lazy and not commit. I also see the pass level for Level 2 exam (which is made up of already smart candidates who have passed Level I and I also consider them smart and dedicated).
How hard would you say Level II actually is? Is it a lot harder than Level 1? How many hours would you need to spend to be sure you pass the exam? Does the knowledge from Level I help in Level II or practically it wouldn’t matter if you take a gap year between exams?
I’m asking this as I am not sure if I want to take Level II immediately or spend a year that is relatively quiet. For Level I I studied between 250 and 350 hours and it was rather demanding - I work full time in fixed income so I have been studying mostly on weekends, took 2 weeks from work before the exam and an hour here and there sneaked from work. All this thing stressed me out quite a bit I think and also meant I could spend less time with my girlfriend, friends, at the gym, etc.
So I am not really sure if I want to commit to Level II right after I passed on Level I. There are a lot of other things to consider of course but I wanted to know what you guys think.
Thanks a lot!