Are you studying Schweser Sample Exams? Are you studying CFAI sample/mock already? Are you studying end of chapter vignettes? What else? I guess the reason I ask is because I remember reading a post from a guy who just took L2, and he said that everything he did to prepare (Schweser sample exams and CFAI sample/mock exams WERE NOT TESTED)…literally as if CFAI looked at those materials, and said: “Let’s test material that nobody is looking at…”
I looked at my printed results from last year and got pissed off again today. This go around I’m paying a LOT more attention to the lesser weighted Study Sessions. I did well on the big 2 but if you blow a couple of the small ones it sets you up for a fail. Don’t underestimate Ethics which was my downfall. Scored above a 70 in L1 and thought I could take the same approach for L2. For L2 I worked even harder and blew it bad. Don’t rely on Schweser Qbank to get you prepared for the exam. As you read through the texts, think of the trickiest ways that CFAI can test you on questions and prepare for that in advance. Don’t let the test surprise you and don’t get behind on time.
that’s awesome, thanks for the feedback. If you don’t mind me asking, which “lesser weighted sections” are you focusing on (aside from Ethics)?
For instance, Port Management, Quant, Alternative, Corp. Don’t recommend playing the guessing game on how heavy they’ll weight each section. Know it all. For all we know this year they could have 3 vignettes on PM. I spent too much time focusing on FSA and Equity. Got caught up on a couple of crap questions in the 2nd session and got behind on time and here I go again. It’s really a crazy test. You want to make sure you have a good test day. I still think I knew the material well enough that I should have passed but just flat out blew it even though I was prepared. Pay attention to really small insignificant stuff. For instance in Econ I could teach college courses on Foreign exchange, the various Parity equations, but when it came to Balance of Payments, I couldn’t get the right answer. Those 2-3 questions I missed were probably the difference of a fail vs. a pass.
great stuff, thanks man, good luck
Don’t mean to sound all bitter but I was told the same things by some people that failed L2 the first time but are now in L3. At that time it was hard to fathom and really internalize because L1 was in comparison a breeze. You can’t count any SS, or paragraph out. It’s hard to explain but you really do feel violated after the exam. Good luck studying. From last years experience the majority of the AF L2 contributors went on to L3. Just keep focusing and keep a little luck on your side. You’re on the right track.
GMofDen: I appreciate all of those L2 returning candidates who pass on their strategy and reason of failing. It somehow enhance our confidence and also help us in re-thinking our strategy. After taking valuable suggestions for L2 returning candidates and L3 ones, I tried to did two readings of Shs. Notes. Now only 45 days remaining to face the real exam, I will be focusing on CFA I texts, Book 6, 7(may be), CFA I sample and mock exams (in May). I will be distributing my rest of time on 60% of 450 hrs that I will be devoting to these. 40% I will be distributing in following way: 20% on Teir I: FSA Equity Ethics 14% on Teir II: CF Fixed Income Derivatives 6% on Teir III Alts. Quants Economics