1.5yrs gone by, do I need to review lvls 1 & 2?

Wondering if it would be worth it to refresh my knowledge of prior levels before I crack the books on level 3.

I took level 1 in June 2012, level 2 in June 2013. Took 2014 off but now signed up for level 3 in June 2015. I have a busy corporate finance job that has absolutely nothing to do with CFA study material so I have been not looking at anything CFA-related for the last year and a half. I just got the level 3 books today: do you think it would be beneficial for me to spend a few weeks to a month brushing up on all the material from level 1 and 2 or should I just start in on level 3 material? Not sure how level 3 builds from specific knowledge of past levels.

Thanks all!


I don’t think you need to. Some of the material shows up again but not in a direct way. If you really feel the need to maybe spend a couple days skimming through portfolio management or something and then go back to the older stuff if you see something you aren’t familiar with. Don’t waste time studying Level 1 and 2 this a whole different test.

no you don’t have to review. i thought i would have to but the material is such a change from level 1 & 2 to level 3 that i found there was no need.

I agree with the above comments. I am now studying for L3 after a 2 years break due to a family situation. I covered the first 2 volumes so far, and there has been no need for me to refer to any of the L2 material. Unlike level 1 and 2, level 3 is a lot more coceptual, if you bump into something you cannot recall (which I don’t believe to be possible, as all the L1 and 2 material gets carved into your brain) you can just refer to L2 books. You may also find that because of the change from the more technical material in L2 to a more conceptual L3, the material may take a bit longer to go over (it is for me), so don’t waste your time. Just start with L3 as soon as you can. Good luck!

You don’t need to, spend the time learning the L3 material.