4 years since I passed Level I, how do I go about studying for Level II?

I plan to sit for the Level 2 CFA exam in 2017. I need some advise on how best to proceed since I have taking some time off between exams. I took and passed level in June 2010. I took Level 2 but failed it in 2012 (inadequate prep). Then life happened (marriage, kid, etc. ). So it’s been over 4 years since I looked at the material. I have been working in finance (as a bank regulator and now consultant) so I have been around CFA related topics over the years. My question is: 1)Would you suggest I study for Level 2 using Level 2 material (from Schweser) and then review Level 1 materials as needed to clarify concepts/topics? or 2) Review the Level 1 material for a month or two first, and then begin studying Level 2 material thereafter? Thanks!

Forget about Level 1 entirely. Everything you need to know for the L2 exam is contained in the books, which are massive on their own. Don’t waste your time re-learning stuff that likely won’t even be tested.

Okay, thanks for the advice.

Go for the level II material. No need to read the level I books because everything has been explained carefully in level II books

Okay, thanks for the advice.

@aakk45 … I suggest forget level 1 material, just stick to L2 material like everyone pointed out. As you are starting after a long gap, I suggest you will need moretime (then just 300-400 hrs), so start early. I would probably - start with summary book (Secret sauce) first. This is to get a feel of entire scope of studies in shortest time. Then go through each study volumes for more detail understanding then finish with EOC questions, mocks etc and then again final revision with Summary book.

Good luck

Okay, thanks for the advice (seems to be the consensus).

Just register for Level 2 exam and start studying. You got to be in the race to win the race. Registration for the exam is the first step.

My advice is to read through the CFAI Level 2 Optional Sections. Those are the readings that go back through previously covered / Level 1 material and bring you back up to speed. I would guess that most people skip the “optional” sections, but in your case, definitely check them out.

Okay, thanks for the advice.

Okay, thanks for the advice.

I also passed level I four years ago and I even started my own business out of the finance field. Just one and half year ago I rejoined the industry and sit level II, surely it’s hard to understand the level 2 materials, but finally I passed it his year. JUST sticking to the level II materials is okay, in particular Kaplan notes present the LOS in an understandable ways, that you will just need to google some some financial reporting terms in case you have no idea with it, it’s really no need to recap everything from level I.

Unless you have been out of finance for that time and are unfamiliar with very basic concepts, I would not bother referencing the level I material. If, on the other hand, things like CAPM for equity, duration and maturity for fixed income, and basic quantitative calcs like standard deviation and correlation are unfamiliar then I would review notes (but not the entire books). You will naturally review most of the material just by way of studying for level II.

Hope this helps!

Its been 7 years since I passed level 1, and advice is start early!! Im just starting and feeling like I’m already tight on time because i seems to be taking me awhile to swallow some of the relatively easier topics.