CFA Level 2 second-timers, Now that we’ve all had a little time to come to terms with the ‘fail’ I’d like to get to know the second-timers who are going to ACE level 2 with me in 2009. I came close to getting this sucker on my first attempt (rated 9 out of the top 10% who failed) and I’ll be damned if I’ll let CFA Level 2 escape me once more; why let all that preparation go to waste? The 2009 curriculum hasn’t changed markedly so it would be foolhardy to give up having come so close! CFA Level 2 2009 curriculum: Having had a quick glance at it I can say that the major changes for 2009 are: Equity Valuation (Return Concepts) - Fama-French, Pastor Stambaugh models Alternative Investments - Private Equity, Leveraged-buyouts, Venture Capital deals, Investing in Commodities Fixed Income - Liquidity Conundrum: adjustable subprime defaults I’m determined to focus my efforts anew on learning the CFAI material exclusively, not using any third-party study provider’s notes. I’ll be making use of Qbank, CFAI sample and mock exams. Who’s with me? K
I’ll be taking for a third time. I’ve already got my books out ready to study the problem areas. I used CFAI texts last time and used schweser first time, I’m going to go with CFAI texts again. J
Heh Londonj, Sitting for a 3rd time: Sorry to hear that - we’ve just got to capitalise on the hard-earned knowledge that we’ve already accrued; don’t let level 2 beat you, nor let it define you. I let it define me in the months before June; passing up the opportunity to go on snowboarding/surfing holidays in the winter/spring, and failing to attend my ice hockey practices cost me a place on the summer tour! I’ll be studying hard for 2009, you can bet on it, though I’ll have a life outside CFA preparation too - I’m determined to achieve a better work/study/life balance. You know what the good thing for me is though? I actually ENJOYED studying the curriculum, I found the material interesting; that’s how I know I will achieve my charter sooner rather than later. What I didn’t enjoy was studying exclusively from Schweser, doing well on their mock exams and yet, not understanding some of the core questions on the exam itself due to a lack of preparation. I thought I had prepared well enough for the exam though after it I KNEW it would be left to fate to decide whether I got the pass/fail. I lost in the coin toss. CFAI curriculum readings, end of chapter questions, samples and mock exams here I come. K
I’m with you…will be my second time. I’m pissed at myself and was very close to a pass. I should have a much deeper understanding of the curriculum this time around. Good luck.
I did Q-bank and thought that it helped a lot. While not a perfect match w/ CFAI questions, the repetition of topics really helped me on exam day. Also, Schweser’s Secret Sauce was helpful as the test day approached. It allows you to quickly cover the major topics and explains them well.
cool quote jabroni Justpass - yep, I’ll be getting Qbank and the secret sauce out for level 2 in 2009; I’m just ticked off at myself from not having referred to the CFAI curriculum and gone down Schweser’s condensed route. CFAI material for a CFAI exam, end of.
I’m sticking with the CFAI books and Schweser pratice exam again. Two of the three sections I scored < 50% were Economics and Quant, which are the sections I didn’t have time to read. Bad move on my part, just got really busy at work the month before the exam and didn’t get to review nearly as much as I wanted. For Level I I found the Schweser practice tests to be harder than the actual exam, but found the opposite for Level II. Anybody else think the same?
Hi all… Yeah, I am just coming to terms with the “Fail” status. It truly sucks. But hey…thats why they say success is not not measured by how high someone climbs rather how high they bounce after hitting rock bottom … Sitting for the second time- But you bet I am going all the way! So should you all. You have invested so much time into this. Just aint worth it to quit now. This time around:- its CFAI text, Qbank, Secret sauce and as many mock exams as possible. I also strongly believe starting early is the key! I know some have passed, with only few hrs of studying ( worked for me in level I). But c’mon---- Thats when we become slaves to these books and miss ot on life. But like mentioned before— I also enjoyed reading this stuff too… so I wont have a problem going back to it again. Hope to see you all frequently. We can do this. “Success is the ability to go from failure to failure without losing your enthusiasm.” by Sir Winston Churchill
I’m with you guys too. Failure sucks, I haven’t felt this way in a long time. I used the Stalla system and did all the mock exams from CFAI. Seems like we all agree that we need to go straight to the curriculum and go through it thoroughly. Prep providers can only take you so far with this exam. I am leaving nothing to chance in '09. My plan until mid-October is to chill out the way I was before I got the results, to get back in shape, to read something totally unrelated to finance, etc. By Mid-October, I will be reenergized and ready to tear this sh*t up.
I’m with you. Just failed level II for the first time, and plan on getting 70+ in all the categories this time. I used only Schweser, but this time I will be using the CFAI books.
me too … let’s plan to stick together and own this beast in 2009!
I, Kakane, pledge to own CFA Level 2 2009 through exclusive use of the CFAI materials. No chances this time around. Sign the pledge…
Hey gus (gals) Hey Failed status this year too… band 8. Had a deep personal loss in my family two days before the exam and had to transfer test centre to my home country and made an attempt . I am sure this beat me on the exam day but I am trying to gather the strength to go for it next year. But the exam is so tricky that I think it is hit and miss. I used a combo of CFAI text and bought the stalla and schweser and took 5 weeks off work did some Qbank and Stalla question bank . Did 7 practice exams too… Hope I am not just too stupid !!! But I do think having support and sticking together is worth it !!!
I failed last year and passed this year. I was close last year and contemplated not trying again for about 2 minutes. After those minutes of self loathing, I was mad then even more mad and then I was inspired. My anger and dissapointment became my drive to succeed this time. I had relied too much on Stalla note and decided to go straight to the CFA text. I used Schweser Qbank and I studied with a couple of other guys too. Trust me, if I can pass, any of you can. VanTrini, if you passed L1 you are not stupid. 2009 is your year to pass. Get in there and grind it out.
Failed LII on first try - Band 6. Embarassing to say - my CFAI package from Feb’08 is still sealed & intact. Used only the Stalla Texts. Will start studying beginning of November, and do both CFAI & Stalla. I know we can ol do it come June 2009. All the best to u ol.
I failed last year (first academic failure of my life). A humbling experience to say the least. Came back this year and managed to squeak through. You’ll be amazed at how much you can actually recall, even after taking a six month hiatus. I found that I was actually learning and understanding the concepts, whereas the first time around I was strictly memorizing the concepts. You’ll probably come out just as distressed and confused next year, but you’ll get through it, no doubt. Good luck guys!
O&GAnalystHW Wrote: ------------------------------------------------------- > I’m sticking with the CFAI books and Schweser > pratice exam again. Two of the three sections I […] > For Level I I found the Schweser practice tests to > be harder than the actual exam, but found the > opposite for Level II. Anybody else think the > same? I am using the same tactic: CFAI books + Schweser practice tests. I only got through 2/3 of the first book of practice tests and they did a lot to bring all together and highlight what was missing. The only thing I could have done different is started a month earlier so that I could have made it through all of Schweser’s practice tests. As for difficulty, I thought Schweser was a little harder because of the details they expect you to know. They weren’t too bad though.
Thanks More Cowbell, for the encouragement, those kind of stories make dreams come true. I pray that this time next year I can inspire others also.
I’ used exclusively Schweser. For me it was my only option since I took l2 after passing l1 in December. I felt like I could have passed with another month this route, but I there is no since in taking chances since I am on the June-June track. I am going to through the curriculum this fall, then January hit Schweser and revise with the curriculum in places where Schweser comes short.
glendronach, your post really speaks to me. This was my first academic failure as well. Have busted my a$% all my life, never got a C in college, flew threw level I, and then I see FAIL for level II. It hurt bad, I left work early b/c I was so distraught. What changes did you make when you studied it the 2nd time? I just don’t know where I went wrong. I put in over 300 hours, and failed miserably. My only conclusion is that I didn’t study correctly. My buddy studied less than 100 hours and got 70+ in all but one category, just like he did in level I; I don’t know how he does it. glendronach Wrote: ------------------------------------------------------- > I failed last year (first academic failure of my > life). A humbling experience to say the least. > Came back this year and managed to squeak through. > You’ll be amazed at how much you can actually > recall, even after taking a six month hiatus. I > found that I was actually learning and > understanding the concepts, whereas the first time > around I was strictly memorizing the concepts. > You’ll probably come out just as distressed and > confused next year, but you’ll get through it, no > doubt. Good luck guys!