Im starting my L2 studies soon, but was wondering how much overlap there is between L1 an L2. Got close to the 90-percintile on L1 by relying a lot on my previous finance and accounting studies. I have a duel masters in finance and one masters in accounting and auditing. Im also a CPA.
I have some demanding days, juggeling a family with a toddler of 10 months and working in transaction advisory. I dont really have too much studying, so was hoping that my foundation from my work experience and previous studies would help me on L2 as it did on L1. Was close to 90-percentile on L1.
Has anyone any similar experiences when taking the L2 exam, with a similar-ish background?
Content crossover between LI and LII seems to be pretty minimal in truth. If you have a solid background in both Accounting and Finance then that would obviously help, but in my opinion (consistent with popular opinion!) LII is significantly more challenging than LI so personally wouldn’t rely on being able to breeze through. Don’t overlook the fact that fail rates between the two levels are fairly similar - presumably a more prepared group of candidates is generating a similar level of success, read into this as you wish.
Derivatives at Level II builds on Level I. A solid understanding of the Level I derivatives material will be a big help; a poor understanding will be a hindrance.
If you’re a CPA then that will obviously lend well to the Financial Reporting section which is a good chunk of the test. However, I agree with the other posts.The concepts somewhat build on each other but for the most Lvl 2 is new material. I scored similar to you on Lvl 1 but will be retaking Lvl 2.