CFA L2 FRA : how much of L1 FRA is required?


could you let me know how much of FRA (level 1 ) knowledge is necessary to do well in FRA of level 2?

i was >50 in FRA level 1 , however, still tentative when it comes to , say deferred tax liabilities and FIFO/LIFO.

though I am okayish in Balance sheet analysis, ratios , CF statements etc.

any pointers as to how i bridge the lacunae? schweser used to send a L1 refresher with their L2 material. will that do??


I was > 70% in FRA in LI. (It was in 2014.)

I have just started doing LII topic tests from CFAI website and they’re brutally hard for me. In many cases I recognize that I would need some basic conceptual knowledge I just don’t possess. I think LI material is necessary, unless you are an accountant (I’m not unfortunately).

well Moosey,

I am certainly not an accountant. This is exactly the conundrum with FRA . you never know which topic integrates backward to L1.

Searching for answers.I now know I am not alone with.respect to FRA.

There is not too much you need to know from Level 1 for Level 2 exam. CFA Institute will test in CFA Level 2 Exam based on CFA Level 2 curriculum Readings only.

Agree with sydneyguy, I don’t see much direct crossover.

That`s a relief; study & Sydney Guys.

OK than let’s say that if you have time to carefully read each letter of the curriculum, all answers will be there I’m 100% sure.

But because I study from Schweser (I do BBs and EOC from curriculum only) I often find that I should know something based on my LI studies (but I just can’t recall it exactly because I took LI in 2014.)