Hey fellas , Done wid FRM full exam and have applied for CFA Level II , cleared L1 last december. I wanna prepare for GMAT too with CFA Level II. Can someone help me in understanding the complexities in doing so. Is it possible to prepare for the two exams simulatenously. I m thinking of putting in around 2-2.5 months for GMAT and then wud start with L2 prep. My Profile : B.Tech (Electrical) , BA with a financial consulting firm. More into domain analysis. Overall exp arnd 4 yrs… Regards, Gaurav
gtinside Wrote: ------------------------------------------------------- > Hey fellas , > > Done wid FRM full exam and have applied for CFA > Level II , cleared L1 last december. I wanna > prepare for GMAT too with CFA Level II. Can > someone help me in understanding the complexities > in doing so. Is it possible to prepare for the two > exams simulatenously. I m thinking of putting in > around 2-2.5 months for GMAT and then wud start > with L2 prep. > > My Profile : B.Tech (Electrical) , BA with a > financial consulting firm. More into domain > analysis. Overall exp arnd 4 yrs… > > Regards, > Gaurav Depends on three things 1.) How many months you prepared for CFA L1 2.)What’s your average CAT percentile 3.)What’s your target score for GMAT
Hey , Answers : 1.) How many months you prepared for CFA L1 - Around 4 months 2.)What’s your average CAT percentile - 94 :(
3.)What’s your target score for GMAT - 720 - 730 Regards, Gaurav
I am planning to write the GMAT in the next few weeks and am writing Level 2 in June. If you are planning to spend 2.5 months on GMAT prep you are left with ~4 months of prep time for L2. Difficult to prep for L2 in 4 months, not recommended. I would suggest cut down on GMAT prep to 1.5 months. By the way, I studied less than 2 months for L1 and passed, but L2/L3 is totally different ballgame. Good luck and keep us posted!
For CFA L2, 4 months is enough as you cleared L1 in 4 months starting from minimal finance background.Just put 20–25% more effort everyday. For GMAT I am bit skeptical though as GMAT matters a lot, much more than CFA L2 for B School applications. You don’t want to risk it.
I would have to disagree, 4 months is probably the bare minimum you would need to pass L2 (assuming an average of 3-4 hours of study time per day).
bpdulog Wrote: ------------------------------------------------------- > I would have to disagree, 4 months is probably the > bare minimum you would need to pass L2 (assuming > an average of 3-4 hours of study time per day). Same can be said for L1, if you don’t have any background in finance whatsover.For people with no background CFA L2 is a bit easier than people having business undergrad.
I am an electrical engineer, having no idea of difference between equity market and fixed income. I started working towards my level 1 preperation on January 25th for the June exam. The first two months were a big big big pain. I kept on forgetting the terms. By end of april, i started to get comfortable with the terms. I passed exam quite comfortably. I started reading derivatives for Level 2 recently which is said to be the most complex portion of the exam. Frankly speaking, i think it’s very interesting. I don’t feel uncomfortable reading it. The words “options, futures etc” are no more alien to me. I scanned other books as well and i think i felt comfortable turning the pages. This was not the case last year when i had to literally cram some terms and their definitions. Bottomline:- Level 1 is not at all an easy game if you donot have financial background. So if you can pass that, level 2 is not really too difficult
All the CFA exams are difficult. I have no clue about GMAT…never took it, never will. But, Level 1 is a filter. Level 2 takes the filtered people and see who really understand sh!t. It requires a MUCH more thorough understanding and grasp to pass. I think you need to start very soon to pass L2 in 2010 no matter who you are. Can’t you do GMAT after L2?
I did Level I in June and GMAT in october (710). The material is very different certainly. I found the verbal to be extremely easy (46) but the math was hard for me (too slow and that stuff is from a long time ago). CFA math is easier IMO but just so much more material. I personally could not have done them at the same time with any modicum of success but that’s just me. What is draining even more time than the GMAT is the application process which is terrible. Just cant seem to get motivate to write all of these essays. I will start level II prep in January.
I love how everyone is underestimating the lvl 2 exam because lvl 1 was a joke. Ur gonna be in for a surprise