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Best way to start preparing for CFA Level 2 exam in 2020

Hi Guys, 

I’ve been away for a while. It’s good to be back. 

I need your advice. I passed level 1 in 2016. Now, I want to take level 2 in 2020. Let’s say I can commit one hour per working day in the meantime. I cannot commit more time per day. 

What is the best material to study from for this scenario? I have 2017 CFA L2 books but it might be outdated for 2020. On the other hand, if I wait for 2020 material, it will be too late (I will have to dedicate more time per day - which I don’t have).

I could buy 2019 books, on the other hand, but feels kinda stupid to pay USD 300 (as I am not official candidate) for something I kinda of already have (2017 books). Maybe I could compare 2017 and 2019 and see if it makes sense. But I am not 100% what is the best way of comparison (LOS or Reading titles, Authors or Both - this is time consuming, btw).

Any advice is helpful.

Thank you very much,

Benmar

Kick start your CFA® Program prep with Top Instructors you’ll love and a course that offers free updates until you pass – We’ve got you covered.

Benmar wrote:

Hi Guys, 

I’ve been away for a while. It’s good to be back. 

I need your advice. I passed level 1 in 2016. Now, I want to take level 2 in 2020. Let’s say I can commit one hour per working day in the meantime. I cannot commit more time per day. 

What is the best material to study from for this scenario? I have 2017 CFA L2 books but it might be outdated for 2020. On the other hand, if I wait for 2020 material, it will be too late (I will have to dedicate more time per day - which I don’t have).

I could buy 2019 books, on the other hand, but feels kinda stupid to pay USD 300 (as I am not official candidate) for something I kinda of already have (2017 books). Maybe I could compare 2017 and 2019 and see if it makes sense. But I am not 100% what is the best way of comparison (LOS or Reading titles, Authors or Both - this is time consuming, btw).

Any advice is helpful.

Thank you very much,

Benmar

Hold on to your horses for the June 2020 Exam registration. Enjoy life till then.

If you really want to start studying the CFA material, I believe mark meldrum has a subscription option that includes yearly updates. 

Alternatively, just read around the subject, i.e. general books on markets/economics etc until mid 2019.

Thanks, but I feel I will not have enough time if I start in June 2019, since I will have one hour per working day, at least that’s the plan. It would translate to 250 working days, let’s say, so 250 hours for CFA L2 - probably not enough.

I am reading general books on the topics above. 

Do you think preparing 2020 exam from 2019 CFA books is a good way forward? I prefer CFA books, btw. (Passed Level 1 using only CFA books.)

Well, from what i’ve heard, the CFA keeps changes year to year close to their chest. So if you start now, you might be learning something that will not be tested in the 2020 exam. That being said, I would be surprised if there were changes to quant and deviratives, so maybe start there.

It is possible to purchase the CFA textbooks online as PDFs for ~$30 for the entire Level 2 or Level 3 series.  I plan to sit in June 2020 for Level 2, so I am reading the 2019 materials, and will do my second read-through on the 2020 materials, when I am registered and they are released.  They are a little hard to find in PDF, so here is the link.  Good luck!

https://www.google.com/aclk?sa=L&ai=DChcSEwjX_7z016LiAhV2_-MHHZF7BDkYABA...

CFP.CFA hopeful wrote:

It is possible to purchase the CFA textbooks online as PDFs for ~$30 for the entire Level 2 or Level 3 series.  I plan to sit in June 2020 for Level 2, so I am reading the 2019 materials, and will do my second read-through on the 2020 materials, when I am registered and they are released.  They are a little hard to find in PDF, so here is the link.  Good luck!

https://www.google.com/aclk?sa=L&ai=DChcSEwjX_7z016LiAhV2_-MHHZF7BDkYABA...

Looks like pirated books.

Benmar wrote:

Thanks, but I feel I will not have enough time if I start in June 2019, since I will have one hour per working day, at least that’s the plan. It would translate to 250 working days, let’s say, so 250 hours for CFA L2 - probably not enough.

I am reading general books on the topics above. 

Do you think preparing 2020 exam from 2019 CFA books is a good way forward? I prefer CFA books, btw. (Passed Level 1 using only CFA books.)

What about the weekends? Are you just going to take Saturday and Sunday off from studying? Why are you limiting yourself to just work days?

How can one maintain discipline and consistency in study for the CFA Level 2 2020 exam.

wasini wrote:

How can one maintain discipline and consistency in study for the CFA Level 2 2020 exam.

Have a written game plan, back it up with action. You might have to give up some of your social entertainment times, some of the family time, will also need family support to let you study on regular basis.

1 yr is too far out to prep in my opinion. As humans we have limited memory. However, to each his own. I would say try understanding a particular concept and try to apply in real life situation. For eg: if you study equity try ti see if you can come up with an intrinsic value using different type of models.

swatchlist wrote:

1 yr is too far out to prep in my opinion. As humans we have limited memory. However, to each his own. I would say try understanding a particular concept and try to apply in real life situation. For eg: if you study equity try ti see if you can come up with an intrinsic value using different type of models.

I agree however how do you get through so much reading in a shorter time period? The CFAI books, in my opinion, sometimes require more than one read through (certain sections).