I’m at a difficult crossroads that i’m sure many of you have had already. I recently took Level I (for the 2nd time) last weekend and i’m not entirely sure i’ve passed this time…i’m absolutely sure I performed much better this time around, however that may not be saying much considering my June 07 results were terrible (nothing over 70, 3 sections under 50). My conscience tells me to relax until January and then go full speed ahead for Level II once i’m sure of the result, while another part of me is telling me to start preparing now. What’s the responsible thing to do in this case? BTW, i’m quite fond of this forum, i’ve been a lurker more than a poster for the past 2 months, yet i’ve always found it quite helpful!
I’d say, relax first and see how things go…Chill! Acttually I am wondering if it is even worth it to rush through level 2. I’m considering taking it in 09 if I do pass. This gives me more room too, should I fail L1 thsi time round. I can sit for it in June 08, and then I’d gun for L2 in 09.
–> you may want to start with ethics now (as it is in both L-1 and L-2) and then decide.
Is ethics any different at LII? It seems odd to have “advanced” ethics.
dnoyelles, I was in the same position in 12/2006. I think it’s important now to take a break and enjoy the remainder of December. Then, if you’d like to begin making progress in early January before results are released, a conservative approach would be to revisit ethics and your weak areas of the LI curriculum. This way, if you have to repeat again, you’ll be in prime shape, and if you get to progress to LII you’ll have a sound foundation in LI upon which to build. Alternatively, you could just dive right into LII material in early January. You’ve spent the better part of the past year (I’m assuming you took LI in June '07) preparing for LI and I’m confident that a short break will serve you well before you begin tackling LII, which is a very challenging exam that will demand your full attention and energy. I waited until results were out to begin studying for LII, and while I wish I’d had more time to prepare, I was so burned out that I just don’t see how I could have gotten started any earlier. Your situation may be different. You’ve earned a break, take it, and when the time comes to begin studying again, whether it’s early January or mid-late January, you’ll be ready to kick some ass.
I’m skimming through L2. Seeing the amount of material to cover, I think it wouldn’t hurt to begin now. I will take a break after finishing all three levels. Till then CFA is all I know. Messed up it sounds now, but rewarding it will be eventually. And taking a break after building all this momentum would be a waste as restarting the engines would take forever.
Like my calc teacher would say: “whatever turns your crank on!”
What’s the time delay between registration date and receipt of the books again? I’ll probably begin reading the CFAI texts but frankly I can’t remember how long it took when I got my Level I books…I ask because I don’t wanna be stuck only starting in March if I do end up registering for Level II in January.
dnoyelles, I expect you’d receive your CFAI books w/in 7 business days of registering. However, I don’t think December LI candidates have the luxury of relying solely on these books b/c there’s inadequate time to read and review all six volumes. You’ll likely have to use Schweser/Stalla as your primary source, with the official curriculum serving for clarification and additional detail. Moreover, in order to even begin studying the current LII curriculum early, you’ll need to purchase third-party notes.
hiredguns1 Wrote: ------------------------------------------------------- > dnoyelles, I expect you’d receive your CFAI books > w/in 7 business days of registering. However, I > don’t think December LI candidates have the luxury > of relying solely on these books b/c there’s > inadequate time to read and review all six > volumes. You’ll likely have to use Schweser/Stalla > as your primary source, with the official > curriculum serving for clarification and > additional detail. Moreover, in order to even > begin studying the current LII curriculum early, > you’ll need to purchase third-party notes. are you referring to notes from a previous candidate or just simply a schweser/stalla text source?
I’m referring to Schweser/Stalla. Alternatively, if you have the means and are confident in your LI prospects, I bet some current LII candidates that don’t intend to use their copies of the official curriculum are selling the books online. This of course is a more brazen move in your part, in that you’re preemptively buying something you’re either not going to need (if you don’t pass LI), or of which you will soon own a second set (when you register for LII). Is the head-start worth the investment? That’s up to you. I remember Schweser offers some sort of deal for LI candidates waiting for their results who want to get started on LII studying. You’ll have to look this up, but I recall it involving purchasing LII materials and if you failed LI they’ll let you exchange the books for some sort of discount on new LI materials. Stalla and the other providers may offer similar deals but I’m not familiar with their products and services. I was confident in my 2nd LI attempt, but didn’t want to be too cocky, needed a break anyway, and didn’t pursue the Schweser deal because I wasn’t so sure I actually would have cared to attempt LI for a 3rd time. The choice is yours, hopefully I’ve at least provided some food for thought.
Don’t jump to conclusions. Wait to get your results first. If you didn’t pass, you can’t register for Level II anyway.
hiredguns1 Wrote: ------------------------------------------------------- > dnoyelles, I was in the same position in 12/2006. > I think it’s important now to take a break and > enjoy the remainder of December. > > Then, if you’d like to begin making progress in > early January before results are released, a > conservative approach would be to revisit ethics > and your weak areas of the LI curriculum. This > way, if you have to repeat again, you’ll be in > prime shape, and if you get to progress to LII > you’ll have a sound foundation in LI upon which to > build. Alternatively, you could just dive right > into LII material in early January. > > You’ve spent the better part of the past year (I’m > assuming you took LI in June '07) preparing for LI > and I’m confident that a short break will serve > you well before you begin tackling LII, which is a > very challenging exam that will demand your full > attention and energy. > > I waited until results were out to begin studying > for LII, and while I wish I’d had more time to > prepare, I was so burned out that I just don’t see > how I could have gotten started any earlier. Your > situation may be different. > > You’ve earned a break, take it, and when the time > comes to begin studying again, whether it’s early > January or mid-late January, you’ll be ready to > kick some ass. Thank you Hiredguns. I had the same question in mind.
Just to reiterate. I think I was close but ultimately did not pass LII this year, which is the reason I wish I’d started a bit earlier. That being said, both a friend and a colleague of mine passed using Schweser only (which is what I used, both in the interest of time and b/c it served me well at LI), and they both studied about two weeks to a month less than I did. One of them works on the buy-side and the other’s just wicked-smart. Both passed LI on their first attempts in 12/2006. Anyway, just some additional information to help weigh the value of my opinion on this topic (premium/discount up to you), and demonstrate that others achieved success in shorter timeframes. The optimal approach for you will naturally stem from your individual capabilities and constraints.
Analyst notes I find are a good supplement to Schweser. And quite cheap too.
i’m in the same boat and i’m going to repeat some good advice: give yourself and your mind a break. granted you pass level 1, you’ll feel a surge of energy that will motivate you for the next four months. take the break, it’s worth it in the end.
I would suggest because it is freezing outside during the winter months vs. nice and sunny during the summer months, that prepping now is easier.
The way I approach this idiotic Jan. 23 sitution is by reading some topics from Level 2 (I borrowed 2007 books) that I really enjoy. Even, if I don’t pass L1, I would have no regrets about getting to know some areas from L2 for my own knowledge.
I found this no risk offer from Schweser. You pay half price and then if you passed LI you pay the other half, I believe. Check out this link for details. http://www.schweser.com/news/announcements.php?announcement_id=493
Are you a paid marketing rep for Schweser? That link is marketed on the forum almost by the hour now.