3rd & Long Wrote: ------------------------------------------------------- > there are champs who passed with < 50 hours… I am > just not one of those guys… bleron failed.
champs. not chumps…
I passed after studying approximately 200 hours. It’s not like I counted each minute or anything. I have an econ degree, a couple of accounting and corp finance courses under my belt, and a few years of fixed income experience. I studied with Schweser materials exclusively, and ~40 hours of my studying was in the 1 week before the exam. I left the test room feeling extremely confident of a pass. I think your chances of passing depend on four main variables: (1) # hours spent studying (2) efficiency of your studying – i.e. are you studying while watching TV? While very fatigued? study methods used? Your ability to allocate study time where it is most needed. (3) your abilities – are you good at memorization? are you a quick learner? are you good at absorbing completely new concepts? figuring out correct answers even if you forget formulas? able to ignore all irrelevant data and focus on what you need? critical thinking, problem solving, etc. (4) your background – years of experience, college courses, etc. I think the curriculum is easier for a fixed income background than a equity background. many other variables. So if somebody tells you that you need to study X hours to pass, they are full of it. They are making some kind of assumption about #2, #4, and especially #3 on my above list. I know people – even though I would not fit into this category – who could pass L2 with about 50 hours of study. I also know people who work in CFA-experience-eligible jobs who might not be able to pass L2 if they studied 400 hours. In any case, the average candidate who puts in an average amount of studying will pass 1/3 of the time, and that average is probably not as high as you would think.