I’m taking Level 1 in December, I realize that the results aren’t released until mid to late January. I am thinking about purchasing 3rd party material for level 2 shortly after taking level 1 so I will have sufficient time to study. I have talked to Schweser and they are willing to extend their return policy to 44 days (from 30 days) in case I were to fail level 1. Has anyone else done anything like this? Do you think the extra 6 weeks of studying for level 2 I will get will be helpful (assuming I pass level 1)?
I didn’t know for extended Schweser return policy. Thanks
for sharing this info. I will proceed like you, purchase Schweser L2
and start studying for June L2 in December. If I fail L1, I will negotiate
refund or change for next L2 material with Schweser. I plan to read curriculum for L2
once when I get it.
Seems like an expensive bet. I would buy some 2015 L2 notes on ebay or something for cheap, most topics have minimal changes, and just skip areas like PM with all new readings
I bought the official CFA Institute hard copy curriculum for $150 + shipping about 5 days after I took my December L1 exam in 2014…I just didn’t start really studying for L2 until the last week of February (I planned to start in January, but I still ended up passing L2 in June).
If you want to buy it early from the Institute, then you will need to call them.
If you stick with Kaplan, you can probably resell them on ebay for a hit if Kaplan won’t take a return.
If you’re going to purchase them early, make a study plan and start on schedule (say in January, with something that interests you). If you need to retake, at least you read something you enjoyed, and if you’re on to L2, then you’ve already started your studying.
Any idea how much shipping they charge ? Is it substantial?
You would have to call and ask them (or an email might work if you want to just ask them for an estimated shipping fee to location X).
I am in the continental U.S. and it was $20 for shipping. The books do weigh a little bit, and I would imagine overseas shipping will cost more.
I was planning to order hard copy for level 2, but it would cost way less to take a printout and get it spiral binded. Anyway, thanks.
Keep in mind that you won’t be able to access the virtual copy until you actually register for level 2, unless the Institute can give you a download code (or something like that). I would inquire if you’re able to purchase the e-curriculum before you’ve registered for L_2._ Depending on the time lag between when you can access the e-books and when you plan to start studying, the monetary difference might be worth paying. Obviously, if you want to start studying in the middle of January, it probably pays to wait until results are released a few weeks later.
Also note: if you buy the e-curriculum early, it is unlikely that the CFA Institute will give you credit for the money you’ve already payed (i.e. you’ll probably pay “twice” for the e-curriculum without receiving a hard copy).
I did 95% of my L2 studying starting in mid-march…I dont see an added benefit in starting to study before you know if you have passed.
That was largely what happened for me (March-loaded studying), but if they want to go for it, why not. I was confident I passed Level 1, so I went ahead and ordered the books (but again, I couldn’t bring myself to study until much later). If the OP feels confidently, then starting early might be a benefit for him/her.
Assuming you kept may for review and mocks, you guys completed the course in 2 months? Did you use curriculum or third party material?
I studied for about 8-9 weeks total, including a mock and practice problems (last week of Feb. until first week of April for reading the curriculum and solving EOCs). I had to take the rest of April until the middle of May off (no studying), and then I blasted through practice questions, taking a mock the week of the exam (~2 weeks).
I used the official CFAI material (books, online questions, mock), with the exception of the Wiley 11th Hour Guide in my mid-May review. I thought the 11th Hour Guide was great for brief reviews.
I’m not advising anyone to start later, but if you find yourself in the position (for me, I couldn’t find motivation at first), it isn’t something to give up on.
Just to add more context, I found it helpful to get to work early and also to stay a little later. This allowed me to read in the morning while I was fresh and then read more at the end of the day while waiting out traffic.
I have observed that many people fail in level 2 and several of them numerous times. Hence it made me think if it was enough to study for such a short time and pass it on the first try. Anyway, I am planning to start in first week of Jan, hopefully I’ll pass level1 and then level 2 in first attempt, thanks tickersu.
Everyone taking the exam has a different situation and background. If the money isn’t an issue, I don’t see why not try for June L2 if you pass L1.
I passed both L1 (December '14) and L2 (June '15) on the first attempt with about the same amount of studying for each exam. I don’t know if that would have been as feasible had I not already obtained a finance degree (I actually have two-- a B.S. and an M.S.).
You know yourself better than anyone-- if you’re willing to work and push yourself, then you can become very well prepared in that time.
Sadly I dont have a background in finance. It has taken me approx 850 hours till date to reach a level where I am able to score 75%-82% in mocks. And by the time I am done with the exam I would have at least crossed 1000 hours. It would be tough but I’ll still try to put in these many hours for level 2 provided I clear level 1 first.
Seems like you are doing pretty well. Just keep moving through it!
Thank you. This forum and the people here have been very helpful.
Schweser’s material for June level II is out. If yo decide to study right after your December exam you should be fine.