No more counter-intuitive conundrums based on random accounting conventions, a bigger dose of Fixed Income and a very big helping of Portfolio Management. At the risk of sounding geeky, I am already getting excited about level 3 curriculum!!! Yes, bring it on, Mr CFAI!!!
Lots of the PM material is also random and only loosely justified.
So I hear, but so glad to be over with Level 2 accounting… I simply hated it.
Accounting of level II is way easier than 2 bond-hedge. FI is considered as one of the toughest thing to crack for LIII candidates along with Derivatives and stupid IPS…
Not to be cocky… but I do FI and their derivatives for a living and I love what I do.
you dont sound cocky, you sound like a huge nerd level 3 is a year away, go enjoy life
Wow! I’m so happy to be done with FRA & Quant. I like FRA, am an accounting graduate but L2 accounting was a lot of hard work!
CFASniper Wrote: ------------------------------------------------------- > Not to be cocky… but I do FI and their > derivatives for a living and I love what I do. then you will have a harder time un-learning reality and re-learning the CFA version. there’s a reason so many people perform weakest in the area of the curriculum in which they work for a living.
^+1
^+2 L3 is most highly subjective of the 3
dpcfa Wrote: ------------------------------------------------------- > CFASniper Wrote: > -------------------------------------------------- > ----- > > Not to be cocky… but I do FI and their > > derivatives for a living and I love what I do. > > then you will have a harder time un-learning > reality and re-learning the CFA version. > > there’s a reason so many people perform weakest in > the area of the curriculum in which they work for > a living. Not entirely true… I work with equities and I have been smashing equities all the way from Level 1
Agree with me.tega there. I haven’t had much trouble with FI, derivatives and quants at L1, L2 or FRM. There are bound to be subtle nuances, depending on the who the CFAI ask to write the curriculum. But fundamentally speaking, a bond is a bond is abond. Also, I am reasonably familiar with the FI content by Fabozzi who also happens to have written the CFAI readings.
I personally like the accounting and FRA part, they were the comfy areas for me in 1 and 2… 
sniff sniff… bye bye accounting…
The FRA structure remains at L3, it is just modified slightly and applied to the hedging of commodities, currencies, and interest rates. You can probably expect a question on convenience yield
CFASniper Wrote: ------------------------------------------------------- > Not to be cocky… but I do FI and their > derivatives for a living and I love what I do. actually that does sound cocky
Trust us Level two-ers, you will wish for accounting multiple choice when you are doing Investment Policy Statement essays. But hey, good luck.
jsjrcomcast Wrote: ------------------------------------------------------- > Trust us Level two-ers, you will wish for > accounting multiple choice when you are doing > Investment Policy Statement essays. But hey, good > luck. ----------------------------------------------------- +1…I crying wished that I could have 180 or 240 multiple choice quests replacing for the AM section…because in AM, you must (1) understand the topic, (2) understand the question and (3) put what they want to mark in 2 minutes for each part…
oh boy when you wil study level 3 you will regret level 2 believe me… Accounting in level 2 is easy because you just need to work hard to get a 100% score. IPS in level 3 is subjective, and demands at least as much work.
I, too, am glad to never see another FSA LOS again. Won’t shed a tear over Econ, either. The concentration in Portfolio Management is welcome for this personal wealth planner. Curious what makes Investment Policy Statements so difficult for other candidates.