CFA level II study strategy

CFA Level II
#21

Use the CFAI textbooks. The Schweser notes are OK and can be used as a quick refence but focus your time on the textbooks! The exam itself is going to come directly out of the textbooks. I don’t think it’s a good use of time to read the notes when you have to choose between the two.

Do every single question in the readings (the “blue boxes”) and end of the chapter questions. Especially focus on the end of the chapter questions that are in item set format. This is exactly what you’ll encounter on exam day.

Make sure you’re very comfortable with equity, accounting, and corporate finance. These are heavily weighted topics and will probably appear in both the AM and PM sections. I can’t stress this enough. Maybe you go 2/6 on economics. That sucks but it’s much, much better than going 8/24 on corporate finance!

Spend the month of May doing practice exams, reviewing all the answers, and making sure you know why the correct answer is the correct answer. Spend time rereading those sections that aren’t clear. Do as many of the past CFA mock exams as you can find. The Boston Society mock exam is a great resource as well.

#22

well my plan is to go through the material twice ( which is what i did with level 1).

the first time would be making notes and doing questions, and the second would be reviewing/questions/fixing weak areas.

#23

I know a lot of people take notes and summery but i never do. I don’t think i will be able to get through the material if i try to write down the notes, and even if i do, i won’t have time to review the notes i will just dive into questions.

I would, however highlight “certain” things (not the whole book like some people!) and use sticky labels to mark questions and sections i find difficult or need to get back to.

Once i start doing the questions i will know what i understand and what iha ve forgotten, then i just go back to the section and re-read those parts.

And if i ever wonder if the questions cover everything i need to know, i just go to end of chapters summery and see if anything looks “foreign” to me, and re-read those sections.

#24

Start early, be thorough, cover EVERYthing!

#25

I thought they were a poor reflection of the exam this year (2013)

#26

Schweser is enough