Love this!! +1
AM fixed income was an actual joke. It was at that point I realized I may have overstudied for this exam. Felt the exam itself was fair but on the easier and shallow side of things. Fully expecting a pass.
In total there were only about 4 questions I was unsure of.
- In quant, a question where I felt the correct answer was not there. I had done many similar questions in mocks and never had a problem getting the right answer.
- In derivatives, I was fairly certain there was info missing to do the correct calculation. Although, there was an answer choice that required no calcs, so I went with that instead of making an estimate.
- In FRA one question which I just straight up missed in my studies. .
- A qualitative question in corp finance which I found overly vauge.
I think I know what you’re talking about for derivatives. I picked the same answer and I think that was one of the trick questions misleading you to do some calculation when the answer was because of some fact.
I felt the same when took L1, not bad, but not completely sure neither. I think AM was easier than PM. How you guys tell the contrary? PM is harder than AM, don’t pass through the tradition!
I hope all people who deserve a pass get a pass. Also hope to see myself studying for L3 and not retaking…
There were no trick questions for the PM section…like I said before you either knew it or you didn’t. The trick only comes when you don’t know what they are asking and you have to make a guess by eliminating what you think the wrong answers are.
However, there were a few questions that were worded oddly that made you have to read the question twice to make sure you knew what they wanted. Not really a trick but testing how well your reading comprehension is.
Lol however…I feel the majority of the level 2 exam is just testing your reading comprehension…
i’m with you guys on that derivatives Q, had to go with the only choice that made sense, no amount of re-reading or re-calculating would produce an answer amongst the three.
You see JLion…
You being a confident re-taker (it seems you are pretty sure youll pass) and saying that you didnt think there were many tricks on the PM section…this fills me with confidence because despite my mock scores, I felt VERY good (relatively speaking) about the PM section.
Yes, totally agree…so many qualitative/conceptual “you either know it or you dont” questions…for whatever reason I felt I knew it. For someone like myself who had only 1/3 of the necessary formulas memorized, a qualitative exam like we saw in the PM section really does me a huge favor.
Again, given my mock scores I am not that keen relative to many who post here, so maybe i think the PM was easier because i got tricked. all I know it that on the PM I feel they asked things that I just knew.
It was just SO QUALITATIVE: Concepts and terms rang a bell, the answer was there, and I went with it.
Exactly, “NO” chance of getting it from calculations
PM was much more qualitative. Personally, I prefer calculations so I thought AM was easier. But there was one very tough Alt question to which I had never seen a calculation.
Overall, I’d give myself around a 65% chance of passing. Felt much better than last year (band 9) where I felt 50/50 coming out of the test. Good luck everyone
I also felt a little overstudied in hinsight, but much better than feeling understudied!
Completely agree regarding the Quant and Derivatives questions. Those were examples of when I was comfortable with the questions/calcs, put the numbers in my calc, looked at the answers and said “wait, what?..”
One quant question killed me. Never saw it directly tested on a mock. Thought I knew what I was doing but I didn’t see the required information to do it… Oh well one question.
Hi all, you were missed. i guess i was on the top of the two sessions, completed the first one in excatly 2 hours and 2.10 minutes in the PM. though PM was more trickier in general
Exam was a lot easier and more straight forward than I was expecting, though I cannot say for certain that I will pass. I am in the camp that L1 in December was harder than this exam. Perhaps I just fell into all the traps…I guess we’ll just have to wait to find out :).
I agree on maybe one of the quant questions not having the correct answer choice. I specifically remembered the formula and couldn’t get any of the answers. Maybe I was missing something but after spending about 15 minutes on it I just guessed.
AM i felt pretty good PM not so much. I am hoping i hit 63%+, but think I was able to answer everything reasonably well.
the guy on my left was done in like an hour looking straight ahead i was like WTF no way he could be done that fast the person on my right didn’t show up for the exam.
Given this information I am hoping I pass lol
I think I know that one you’re referring to. I knew what was being asked (this was the key to knowing what direction to take), knew the formula, but couldn’t find one critical input. It was probably there somehow, or implied in a way I hadn’t seen in practice before.
Ah well, maybe our guesses were correct.
To be honest, I expected Level 2 to be much harder than it actually was but maybe i studied too much. I would be extremely disappointed if i didn’t pass …
I reverse engineered the question (much like backward induction) using triple branching permutations and tried to predict the implied formula and the logic behind it. Then chose most plausible route. Though CFAI doesn’t rule out errata it is in your best interests to assume the problem is within you. Otherwise it may become a habit to blame the game.
i thougjht it was straight forward even though i got one wrong already because the wording of a VERY BASIC concept comparison
I felt pretty good walking out. I was pleasnatly surprised because three weeks out I pretty much bombed the Schweser live mock (52%). But I took four full days off of work and completely locked down FRA, I mean locked it down to the point of making it very unlikley I would miss any questions. And mostly locked down Ethics and Equity. And got all the big ideas in the harder sections.
I felt so good after the morning session that during the lunch break I kept thinking ‘just don’t lose your passport or exam ticket and you’ve passed’ and checked my pockets like every thirty seconds…lol
But who knows, on all the practice exams and live mock I thought I did better than I actually did. It went well, though, I *think*.