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2020 Level 3

Hi everyone, 

Just wanted to get some thoughts… Do you think it worth going through Level 2 material in order to be kinda prepared that Level 3 will throw at us or it is nothing but wasting time? In other words, is Level 3 CFAI books are sufficient to prepare without referring to materials for Level 2 ?

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Tural wrote:

Hi everyone, 

Just wanted to get some thoughts… Do you think it worth going through Level 2 material in order to be kinda prepared that Level 3 will throw at us or it is nothing but wasting time? In other words, is Level 3 CFAI books are sufficient to prepare without referring to materials for Level 2 ?

Yes, everything you need to know for L3 is in the L3 curriculum, but it helps a ton if you went through the L2 curriculum. Many parts of L2 and L3 material build off of the previous level. 

If you're the first out the door, that's not called panicking

Thanks

No

CFAI Level 3 curriculum should be sufficient.

Level 3 has nothing to do with level 2 

Codtrawler87 wrote:

 it helps a ton if you went through the L2 curriculum. 

shouldnt they have done that when they passed l2?

¯\_(ツ)_/¯ It be like that sometimes.

CEO10K-DAY wrote:

Codtrawler87 wrote:

 it helps a ton if you went through the L2 curriculum. 

shouldnt they have done that when they passed l2?

Some people skip low weight topics such as derivatives, alt. investments, or economics on L2. If you do so, going through these topics in the L3 curriculum will be a pain in the a$$. 

If you're the first out the door, that's not called panicking

CEO10K-DAY wrote:

Codtrawler87 wrote:

 it helps a ton if you went through the L2 curriculum. 

shouldnt they have done that when they passed l2?

Good point! 

Codtrawler87 wrote:

CEO10K-DAY wrote:

Codtrawler87 wrote:

 it helps a ton if you went through the L2 curriculum. 

shouldnt they have done that when they passed l2?

Some people skip low weight topics such as derivatives, alt. investments, or economics on L2. If you do so, going through these topics in the L3 curriculum will be a pain in the a$$. 

But on what planet is skipping derivatives a good idea?

¯\_(ツ)_/¯ It be like that sometimes.

CEO10K-DAY wrote:

Codtrawler87 wrote:

CEO10K-DAY wrote:

Codtrawler87 wrote:

 it helps a ton if you went through the L2 curriculum. 

shouldnt they have done that when they passed l2?

Some people skip low weight topics such as derivatives, alt. investments, or economics on L2. If you do so, going through these topics in the L3 curriculum will be a pain in the a$$. 

But on what planet is skipping derivatives a good idea?

Don’t ask me, ask those who do that. I went through all the topics like a good little school boy. 

If you're the first out the door, that's not called panicking

Yeah I went through all topics at L2 but forgot 80% of it now. lol

I find it difficult to believe that someone would skip all of these low weighted topics and still pass!

MahaM wrote:

I find it difficult to believe that someone would skip all of these low weighted topics and still pass!

I think you’re missing the point here. The question was that do you need to review L2 material to pass L3. I said that all you need for L3 is in the L3 material, but it is helpful if you went through the L2 curriculum.  If you did not, it might be helpful to glance over those topics in L2 because some L3 stuff builds off of L2 stuff. Whether you skipped all low weight topics or just one doesn’t really matter.

If you're the first out the door, that's not called panicking

All 3 levels feel so similar. Lots of repeating material. Just approaching from a different viewpoint.

aside from the behavioral finance topics.

foshizzle wrote:

All 3 levels feel so similar. Lots of repeating material. Just approaching from a different viewpoint.

aside from the behavioral finance topics.

FRA section was huge on LVL3. It really killed me on June 15th. 

It ain't what you don't know that gets you in trouble. It's what you know for sure that just ain't so.

how many times did we see fed model, ddm, yardeni, expansionary monetary policy, duration, type 1/2 error, cannot claim partial gips…..

the whole options section was a repeat.

Waste of time in my view. L3 material is all you need to pass and you can review anything you have forgot as it comes up. L3 obviously builds on previous levels but the focus is different. L2 content is deeper as well, L3 is more practical application and higher level. 

MahaM wrote:

I find it difficult to believe that someone would skip all of these low weighted topics and still pass!

Did that in L1 and L2. In those two levels i ensured that i studied at least a total of 70% of the subjects. for L3, i skipped GIPS and i totally regret it.

It's a long shot, gotta make it.

Epsilon wrote:

MahaM wrote:

I find it difficult to believe that someone would skip all of these low weighted topics and still pass!

Did that in L1 and L2. In those two levels i ensured that i studied at least a total of 70% of the subjects. for L3, i skipped GIPS and i totally regret it.

Never skip GIPS yall. 

GIPS bump > Ethics Bump

Epsilon wrote:

Did that in L1 and L2. In those two levels i ensured that i studied at least a total of 70% of the subjects. for L3, i skipped GIPS and i totally regret it.

Ouch…

If you have time, I would suggest going over fixed income and alternative investments from level 2 in preparation for level 3. I don’t think the other subject areas are necessary.

No need

I completely skipped Derivatives&Ethics without doing a single mock still managed a pass in L2 due to lack of time (powered through the entire curriculum for a month exc Derivatives). So it is very possible. Did score quite well in L1 Ethics, so the knowledge retained,  which helped a lot. It’s a gamble, so defo not recommended.