Thought I’d kick off my L2 prep by turning to the CFA knowledge hive and hopefully get some collective advice.
I just registered for the level 2 exam for the 3rd time and this is going to be the final tilt at it for me. I’ve sat the exam once a few years ago and didn’t pass with band 6 (from memory). I registered again for the following year however due to some intense work, a big health challenge, and being newly married I didn’t end up sitting the exam. I passed Level I first time through with about 3 months study, however, struggled to get a full grasp of the Level II material even though my background is financial planning and investment management.
Considering I have half a year now until the exam I’d love to draw on the best practices that people have found helped with level II. I’m at grad school until Sept so I figured this is the time to do it. I couldn’t bring myself to revisiting the material one more time so - it’s all or nothing
4th time taker here. Failed Band 3 and Band 6 twice. I’m a professional and study at night after dinner. I haven’t quit because I really want it. Decided to read CFAI books for all subject except Corp Fin., Econ, and Quant. I’m almost done with Derivatives and will move on to these last three subjects via the Schweser books. I think I made a mistake reading the CFAI material for Derivatives. It’s very complicated. Best of luck to you this year.
Do the work. Very few ways around it. I have the same background as you (financial planning and investment management). I’m 40 years old and have a kid, and a full time job (I actually had a second job last year as well). I studied approximately 600 hours for L1 and about 750 hours for L2. Each level was jammed into a 5-6 month time period. In both scored in the top 90%ile and I have zero accounting experience (Before the CFA I didnt even know what a balance sheet was);
How did I do it? Pure work ethic. For L2, I did over 7000 qbank questions (most from scheweer) and I did 24ish mock exams.
Some guys are smarter and can read the material and do a few mocks and pass. Maybe I could have done that too, but why chance it. You sound like you did very little studying for L1 and passed. If that doesn’t work for L2, go my route: Brute force.
Thanks both - it is helpful encouragement. I’m fortunate in that I don’t have a massive study load so will hopefully be able to carve out some solid blocks to get this done.
I stood and clapped for you. I did not able to stop myself despite I am in office right now. Everyone started staring at me while I was doing it.
Anyways I can imagine how difficult it was to dedicate such a high no of hours given you have family and work. I am in the same boat except that I am 43 years old failed CFA L2 twice few years ago. Have two kids ( 7 and 2 years). My job is intense and I am studying 3 hours daily early morning 3:00 a.m. to 6:00 a.m.
For sake of benefit of us. Can you please let us know distribution of number of hours and mock exams? I am sure I will be able to plan better with your advice. Please let us know how in the world you end up getting 24 mock exams? How you get such a high no. of mock exams.
I planned to finish my first reading in February 2019, second in March 2019 and 3rd in April 2019 using Q bank of Scheweser and FinQuiz. More importantly, I am doing Blue Box and End of Chapter twice before considering reading completed. I plan to start writing mock exams on weekends in April 2019 and will continue in May 2019. In June I will review and do CFA I mock exams. Please let me know if this looks ok to you.
I think you have a good study plan. Sounds like you’re knocking a lot of hours. I would try to start the mocks by May.
Myself, I try to study about 3-4 hours at work on and off, and another 3-4 hours after work. I have some flexibility at work because I’m self employed financial advisor. I also do two workouts a day (one before work and one after work) and then you gotta eat and sleep… Only 24 hours in a day … Means I wake up at 6am and I sleep late!
