I failed Level 1 in June so I am retaking in December. How probable is it to go from L1 Dec to L2 June? Is there any correlation with more/less passing scores by people who do this?
no idea about the stats but a few of the dec level 1 candidates that wrote level 2 with us felt like they were burnt out near the end. It is possible to do it, but you just have to watch out for being burned out.
I don’t think I’ll have a problem, however I’ve been seeing L2 board members claiming 6 months is barely enough time to become comfortable with all the material. I’m going long on this idea.
no 6 months is enough to study this, you just have to make sure you keep at it. Level 2 is a whole different beast than level 1. Majority of level 2 candidates spent more time studying for level 2 than for the level 1 exam so if you start in January for level 2 you should have enough time to prepare for the exam.
I was one that attempted this but burned out and failed. It’s doable but by about March I just hit a wall. I guess you just have to consider your own abilities/limitations… if you think you can study for that long (especially having written LI twice) without wearing yourself out, then I say go for it. Plenty of people here were able to do it! I made the mistake of beginning my studies for LI in August and even with the break in Dec/Jan, I was fried. Mind you I also had to take another test for work in the meantime, so that probably didn’t help things.
ditchdigger2CFA, there are guys and gals that have done it (dec 2007-June 2008). You’ll do it, you’ll have to start L2 right after the L1 exam (you were so close on L1). Remember Jan to June exam there are only 5 months, not 6. ditchdigger2CFA Wrote: ------------------------------------------------------- > I don’t think I’ll have a problem, however I’ve > been seeing L2 board members claiming 6 months is > barely enough time to become comfortable with all > the material. > > I’m going long on this idea.
Thanks Map. You were always helpful on the L1 board.
2 good posts on this topic http://www.analystforum.com/phorums/read.php?12,815929 http://www.analystforum.com/phorums/read.php?12,814070
It’s possible, but if you wait until results are out, it leaves you with only 4 months to study. For some, that’s plenty. For others, it might not be. A few suggestions: 1) It’s risky to start studying for L2 before results, but it might be worth it. Many folks on the L2 forum thought that another month would have really made a difference. If you want to go this route, consider getting a copy of last year’s curriculum, or even buying the next year’s one (but that’s even riskier). Despite what the prep providers say, the vast majority of the material doesn;t change from year to year - for many of the LOS’s, the changes are minor. If you can, just buy one or two of the books (the most common difficulty sections seem to be quant, ethics, and FSA). 2) If you don;t want to do #1, at least reread ethics and your FSA. The L2 ethics FSA builds significantly on the L1 material, and as for ethics, it;s mostly the same material with a few new twists. 3) Load up on “ancillary” material. While going “All CFAI” is preferred in the best of times, you have time constraints. So, get a prep provider’s material at least for review purposes. Whether you go Schweser or Stalla, do as many test bank questions as possible. 4) Take John Harris’ FSA workshop. It’ll be the best 2 days and $500 you can possibly spend. In any event, the December L1/June L2 duo is doable, and a lot of people on AF have done it. But my guess is that the pass rate on this combo is significantly lower than on the June/June combo. Funally, realize that you might end up burned out in April, and have to really grind it out the last 2 months. But even if you fail L2, you’ll have built a base that’ll make passing much easier the next time around.
I did L1 in Dec and L2 in Jun - passed both on first go. I spent 70 days on L1, then 90 days for L2 (started early Feb) Personally, I think spreading it out over more than 3-4 months would be counter-productive - but everybody is different and learn in different ways. There is a risk that if you spent more than say 3 or 4 months on it you would be bored and stale by Exam day. Eg some of the stuff I started in Feb, I had forgotten completely when I read it for the second time a couple of months later. You need to know your stuff, but you also need to be mentally fresh and at the top of your game on exam day. It’s like the Olympics - doesn’t matter what you did during the year - you’ve got to have all cylinders firing on the day. So, take a break, read some other background books (related to finance, but not the actual CFA texts - to get background, perspective, context) - then hit it with 110% in about Jan or Feb next year. (For L1 I used CFAI books + Schweser Qbank. For L2 I used CFAI Books + Schweser notes for about 25% of the topics - seemed better laid out than CFAI). Do all the practice questins and practice exams you can - CFAI online, Schweser, Boston. Spend the last 2-3 weeks doing nothing but practice exams) good luck
It is certainly possible. I did L1 Dec07 and L2 Dec08 … passed both at first attempt. But as some have mentioned in earlier posts, there is the burnout factor. I hit a wall mid-March as well. Tried to struggle on for a week afterwards… then took a week off to get some sun. Really helped recharge the old batteries. Would certainly recommend a break if you are planning to do the Dec - June 1-2. You also have the advantage that you are comparitievely fresh on Ethics/Corp. finance/derivaives … so you can study smart on certain areas and dedicate more time to others. Hope it helps.
It really depends what else you have going on. I took Dec 07 Level I and June 08 Level II and did not pass. Worked heated up for me considerably and I have a family (2 kids) to work around. If you don’t have many outside influences, I believe it is doable.