NO GIPS ON L2…Ethics is the same except for a longer section on Softdollars.
Now, that makes me even more desperate to pass L1 
I took a L2 exam yesterday (yes I am totally messed up). There are only 60 questions per session. 10 item sets per session, each having 6 questions (hence the 60). Only thing is the item sets take forever to read. Flunked the L2 badly 42%.
you got 42% and you haven’t even started studying yet?
get out!!! L2 has half the questions!!! i was told it was hard…but that sounds insane!
half the number of questions: twice the difficulty - its 360 points compared to 240 for L1. We’ll have to spend twice the time typically taken for 1 question at L1 (1…5*2).
Lola, Guessed slightly more than 25%, and I did skim through Schweser ethics and quant. However, the point is that L2, even though there is no GIPS, is going to take enormous amount of effort to pass. Don’t let the 42% deceive you, because the test was only 50 questions long (10 sets of 5 questions). I was looking at an actual Schweser L2 exam that I didn’t even bother with after reading the first item set.