Yes. Schweser is enough for FRM exams. But their concept checkers are easier than the actual exam questions. So, you have to know the Schweser notes inside out to perform well in the exam. However, one can easily pass using Schweser only.
Practice questions from Schweser question bank. For level I, their question bank is good. But before moving to question bank, you should solve all the end of chapter problems from the main curriculum books. It is normal to forget about FRA and Economics. You need to revise those stuff 2-3 times for retaining. Do not focus too much on Economics as its weight is 10% and its syllabus is almost equal to the syllabus of FRA. Concentrate more on FRA, Ethics, QM and FIS. Apply common sense in Economics.
The only CFAI stuff I used for L2 was the official mock. Qbank was fantastic but only for purposes of refreshing me on all the study sessions, before getting into the mocks/practice exams, so I used it for I think 2 weeks at the end of April.
Thank you “Sir” _/_ With the blessings of Sir Jadeja, I’ll definitely crack L1. Sir, what to do for ethics?
For level 1 you can read schweser, do a tonne of q bank questions during study and revision and then a tonne of mocks and most people will pass without even opening the box with cfai cirriculum.
For level 2, the qbank is useful for refreshing areas but it isn’t the golden ticket that it is for level 1. In my opinion, schweser do an awful job creating item sets, they just don’t bear even the slightest resemblence to cfai eoc, mock or actual exam item sets.
use the intermediate and hard questions in l2 q bank to drill topics or individual los you’re struggling with but don’t take any notice of your scores. you could easily hit >80% in every qbank quiz you do from jan to may and start doing mocks and totally flunk them.
Ethics has a weight of 15% and the syllabus is relatively small. It is very important because of ‘Ethics Adjustment’ as well. It can make or break when one is on borderline. It looks very easy but can be dicey. Practice is the key. Revise it 2-3 times from the curriculum book. There are 7 Standards of Professional Conduct. Make those part of your life. One standard for every day of week. Revision of Ethics during last days of preparation is very important. Most of the guys do it at the end. But one can panic at the end. So, it’s always better to cover it at least once one month before the exam. Practice all the questions from Schweser/CFAI books and previous mock exams (if you can get hold of those). There can be few one liners questions with straight forward answers as well in the exam. So, knowing the curriculum inside-out is very important. If you decide to study only one subject from the CFAI books, let it be Ethics.
I completely agree man. Q bank is only useful when you’re trying to check if you understand the concepts correctly. It’s no where near the real questions you would encounter on the real exam. CFAI questions are written by the same group of ppl who made the exams. Therefore, it makes a lot more sense to do the CFAI questions than wasting time on doing q bank
Does anyone know the number of “advance” questions in Level 2 Qbank? I’m thinking of doing just them only if i ever decide to buy it.
I’d suggest you take a look a finquiz. I used both finquiz and schwesers q banks. If I had to only use one I’d use finquiz.
Dennis, what is it about theses blogs that make you guys invest a substantial amount of time to write down interesting sounding stories. I read through the Amazon-Costco example and think I just wasted some precious time, that I should have used on Equity instead. I quite liked it - don’t get me wrong.
There was another fellow, that spend like 1’000 hours on Level 1, posted all his flashcards, advices, spreadsheets. And a copy of his CV. Passed L1 but never made it pass L2 (muskie).
And this other quite active guy had a website too (Alladin). Hope he made it to the charter this time around.
The question to all of you out there: do you guys do that to put something interesting on your resume? Is it because its fun to you? I dont get it. From what I was able to tell, you never include any new findings, just seems the write up of what has already been told by other sources.
Thanks for letting me know!
I think it may work for some people but i didn’t use the Q Bank either.
There are too many questions to do alraedy with CFAI texts and Study Guides, and those questions are better (IMHO) anyway, so i never got around to Q Bank questions.