I’m so excited to be able to post on the Level II forum. I just passed Level I (yay), but did poorly on Alternative investments and Derivatives. For those that just passed Level II, do you recommend that I spend some a couple weeks now re-studying the Level I CFA readings for Alt. Inv. and Derivatives before starting LII? I’m thinking that if I didn’t know those sections well then, I may be doomed. Thanks!
sup horsie girl grats on level 1, alternative investments is such a small part there it didn’t matter much. It’s not really a huge part on level 2 either You don’t need to re study level 1, just take a break and wait for your level 2 books
I agree with cfagoal on the Alternatives section…it’s not a big deal to know what was on level I for level II However, Derivatives has been a larger portion on level II for the past couple years and definately builds off of level I. The good news here is that for the past couple years the CFAI has included sections from the level I books in the readings as optional segments. It actually covers what you need pretty well. My suggestion would be to make sure you give yourself plenty of time to understand the derivatives section b/c: 1. it is no easy task, it going to take some time to get it, esp. if you need to go back and review the level I stuff. 2. it is difficult to just write it off and “hope for the best” on the test 3. Once you finally get it (and I say finally b/c it will feel like finally) it sticks! Last year I tried to write this section off and it didn’t go well for me. It didn’t go well for a few others I know who had the same strategy. However this year, since I had this section down better, I was running behind on time in the morning section and had to rush through the last few vingettes. Once I got to derivatives, I was surprised at how fast I flew through the problems! It actually felt really good, and I got above 70 on that section as well so I know I didn’t just feel good, I really did good!
The Derivatives section for level has a great recap of the level one stuff, so I wouldn’t stress about it too much. For alternative investments a lot of it is new as well, predominately private equity. Take the summer off and enjoy it.
Thanks everyone! I’m glad to know the CFAI texts gives a recap. I’m looking forward to a study break, but will give myself enough time to understand the details. Cheers!
how old are you?
"My suggestion would be to make sure you give yourself plenty of time to understand the derivatives section b/c: 1. it is no easy task, it going to take some time to get it, esp. if you need to go back and review the level I stuff. 2. it is difficult to just write it off and “hope for the best” on the test 3. Once you finally get it (and I say finally b/c it will feel like finally) it sticks! " I did #2 and somehow got > 70% on that section. My guesswork game was on point for the exam. I agree with your larger premise though, Derivatives takes a while to master, lots of little details to get down and it can suck up a huge amount of study time.