Hi I’m wondering if it is worthwhile to sit for Dec 2011 L1 and the L2 in June 2012. If not, do you think that 1.5 year is more/less than enough for studying L2?
" It is capital mistake to theorize before you have the facts. It biases the judgement"… Sherlock Holmes
i heard that some people have studied for 1 month and passed level 2, ofcourse i probably think that these people can easily show up on the movie Xmen first class. all joking aside, alot of people have done it. just plan yourself properly, and make sure that on that last month of prep you live eat and sleep Level 2.
I took Level I in December 2010, and just took Level II. While it was difficult, I believe it was the right choice for me. Jumping straight back into the books kept my mind fresh. I can’t imagine where I’d be if I let nearly a year go by before beginning studies for Level II.
I second flyjetz. I took Level II two years after Level I and a lot of stuff that’s in Level 1 that’s in Level II I nearly forgot.
A lot of people do it. Depends on your work ethic and your willingness to essentially give up a year of your life.
I’d worry about L1 first.
flyjetz Wrote: ------------------------------------------------------- > I took Level I in December 2010, and just took > Level II. While it was difficult, I believe it > was the right choice for me. Jumping straight > back into the books kept my mind fresh. I can’t > imagine where I’d be if I let nearly a year go by > before beginning studies for Level II. I did this also, but I don’t see any advantage to doing them so closely. Maybe it helps in ethics a bit, but I don’t see how taking 3 years off or even 10 years off can hurt someone. If you work in finance and you know a lot of this stuff to begin with; taking time off doesn’t matter.
For me it worked better to do them like that - LI being fresh helped, then it’s a good break going to LIII after a rough 8-10 months. I think it just depends on how you study / learn / your current lifestyle and motivation/dedication… Just give it a shot and report back - it’s definitely do’able though.
I know people who have nailed L2 in 3 months or so… Keeping those aside, you should know about yourself… the ability to catch stuff varies so prepare according to yourself not others… 5 months are enough to bang it but take them very seriously coz in the end time doesnt roll over again… Good Luck
I passed level I in December 2010 and gave level II in June. I started studying for level II in Feb and I think that its quite manageable. Since I was NOT working I had enough time to completely cover the entire material (Schweser except ethics) thrice and do 4-5 mocks too. I don’t think having more time would have made too much of a difference since I feel good about my chances of passing the exam. Giving the exam within a gap of 6 months actually helps a lot since you don’t have to go back to revise the level I concepts. Level II builds on level I and this year there were a few topics in FRA which were reprinted from the level I curriculum and there are lots of other topics that have a few parts that are from level I or heavily built on the level I curriculum. I hope this helps you in making your decision.
Never hurt to give yourself a try. If you did manage to pass level 2, you will save a lot of time like doing your level 3. I say go for it. Never do anything with an undecided heart if you are prepared to have absolutely no life for one whole year.
For me the biggest obstacle from Dec L1 to Jun L2 is getting going right away once you receive your L1 passing results in late Jan. If you take a week to celebrate, another week to debate jumping into L2, then ordering it and taking another week to get the books, all of a sudden it’s pushing late February and you haven’t cracked a book yet. This is what happened to me as I await my failing grade on L2. I honestly believe I was a solid studying weeks away from a passing level of knowledge. And to note, I did study about 100 more hours on L2 than L1.
Biffy, how much did you study for L2?
either you get lucky on LII and they test the subjects you know well or you study for a long time that all topics are 2nd nature OR you sit, fail, retake and pass because the material becomes 2nd nature to you. Theres no easy way around LII.
hi, i just shared my experince i am not from Finance/Investment line, i work in sales & marketing lines about 13 years investment is my interest. partly because it deal with my hard earn money, i read quite a number of book, news during free time i sat for Level 1 last Dec, got my result in Jan, i got quite a good pass, all subjects above 70, except corp finance, i decided to take up the challenge ( gamble ) for June level 2 i am very commited & has strong desire want to pass level 2, i left my previous job in Mar, have 3 months full time study, i spent average 8 hours per day until the exam the feeling is quite good after the exam ( cross my finger )
And what will you do if you get awarded the cfa charter?
step Wrote: ------------------------------------------------------- > hi, i just shared my experince > > i am not from Finance/Investment line, i work in > sales & marketing lines about 13 years > > investment is my interest. partly because it deal > with my hard earn money, i read quite a number of > book, news during free time > > i sat for Level 1 last Dec, got my result in Jan, > i got quite a good pass, all subjects above 70, > except corp finance, i decided to take up the > challenge ( gamble ) for June level 2 > > i am very commited & has strong desire want to > pass level 2, > > i left my previous job in Mar, have 3 months full > time study, i spent average 8 hours per day until > the exam > > the feeling is quite good after the exam ( cross > my finger ) cross the finger
What will i do after i get my charter ? This is the question I probably need to ask myself after 3 yr later, Suppose I clear level 3 next yr, work 2 - 3 yr in finance/investment line, which I don’t know will be realized or not… Can I study CFA for interest ? I just like the subjects and enjoythe fun during the process
I agree with the person who said you should first focus on Level 1. Like all athletes (who really are modern day sages) say take it one game at a time. However, if you are serious about doing Level 1 & 2 in six months, you should start studying in Jan for Level 2. If you can knock out most of the first book for Level 2 (which is Ethics, Econ & Quant) before the results for Level 1 come out, you will be in a great position. I didn’t start prep for Level 2 until i got my results from Level 1, and in hindsight wish I had an additional month for review. All the best.