Frankly - I don’t think it’s all that hard. The material was pretty interesting, and thank heavens for 60 instead of 120 questions in both sessions (I think it was 120 per session in L1). The only wild card is of course CFAI - what the heck were they thinking this year. It was the most senseless questions I’ve seen. So if they foul up- you’re screwed. Otherwise in terms of the curriculum itself - I didn’t find anything more complicated per se. Accounting isn’t my background - so I’ve always found it harder - for L1 as well as L2. Just can’t relate.
fortischet Wrote: ------------------------------------------------------- > Frankly - I don’t think it’s all that hard. The > material was pretty interesting, and thank heavens > for 60 instead of 120 questions in both sessions > (I think it was 120 per session in L1). The only > wild card is of course CFAI - what the heck were > they thinking this year. It was the most senseless > questions I’ve seen. So if they foul up- you’re > screwed. Otherwise in terms of the curriculum > itself - I didn’t find anything more complicated > per se. Accounting isn’t my background - so I’ve > always found it harder - for L1 as well as L2. > Just can’t relate. I think this is the general consensus. The difficulty of studying for L1 and L2 is comparable. The difficulty of the exams very f*n far from comparable.
One of my friends who received Charter membership said CFA is like pyramid. Level 1 is vast and time management is the Key. I agree with him for first two parts. I am not qualified to comment on level 3.
Level I: http://newmedia.funnyjunk.com/pictures/17dollars_480x384.jpg Level II: http://japanesenostalgiccar.com/blog/wp-content/uploads/2008/01/nwa.jpg
tops123 Wrote: ------------------------------------------------------- > Legacy…bottom line. you suck All that genius and that is all you could come up with? Fail.
topher Wrote: ------------------------------------------------------- > I disagree with most people who say L2 is > significantly harder than L1. It’s harder, but not > THAT much harder. > > I am speaking from my personal experience, and I > came from a non-quantitative background and had no > previous finance knowledge prior to L1 (i.e. I > didn’t know A = L + E). Thus, the gap between > knowing nothing to passing L1 (all sections >70) > was very large. Also, I obviously don’t even know > if I passed L2 yet, so maybe on August 18th I will > take back what I say. But I give myself better > than 50/50 odds of passing. > > Now, L2 is definitely harder, but it’s manageable. > For someone like you who says you found L1 easy, > maybe you won’t see it the same way I did. > > It’s like someone asking, “Is Algebra 2 harder > than Algebra 1?” Well, if you haven’t completed > Algebra 1, then of course it is. But if you got an > A in Algebra 1, and you are prepared to study hard > in Algebra 2, you should be fine. wonderful point +1
L1 A date with Batman L2 A date with The Riddler I prefer the analogies
Approximately the same passing rate for L1 vs. L2, but… L1 you’re going against many people who haven’t experienced this before. L2 you’re going against everyone who passed L1 AND those who failed L2 at least once who know what it takes to pass it.
It all depends on how much prior knowledge you have. For me 250 hours was more than enough because I only had to spend 15-20 hours on Equity + Corp Fi.
Level I: Passing by a SI Swimsuit photoshoot Level II: Passing a stone
Level I = Strip Club Level II = Billy Club
kevincwang Wrote: ------------------------------------------------------- > As a retaker of Lv2, I won’t say it is same with > Lv1 with a little bit effort. Not fair… > > I can’t remember how I passed my lv1… but what I > can see is that in a single sentence, it is > extremely hard to create a trap, a trick, CFA > would give you, so everything is pretty > straightforward, there are only most likely, least > likely, those stuffs. > > However, in lv2, with a case, CFAI could actually > put a lot of information there to distract you. > You need to know your knowledge fair and square. > Not just remember the formula and basic concepts > but able to understand it. > > For those two exams, I believe CFAI starts more to > apply the knowledge rather than sticking with what > was traditionally tested with big volume, a lot of > calculations. Now it is more like how do you apply > the knowledge. For anything you are not sure, CFA > would punish you with that. Like PVGO question I > missed in exam, because I can’t remember using E0 > or E1. > > After exam, you never know whether you pass or > not, because even you find an answer to fill, you > never know whether that’s a trap everyone just > falled into. No matter how we confirm each other > with a right answer, it would always be CFAI > standard answers counts. So hard to say that > someone would be guaranteed to pass the exam > > Lv1 is just an introduction > Lv2 is where you really learn those valuation > method in more depth(will say that would give you > an expert skill) I totally agree with this, Level II will seperate between people who understand the material and can readily use it in real cases, and people who memorize relationships between variables. Level I you need to know that a Callable option value decreases when intrest rates go up Level II you need to understand why it decreases, by how much, and if any other variables might affect the rate of decrease. I truely felt that Level II exam was bringing the material closer to reality than anything i’ve seen in Level I
Level I = Strip Club Level II = Billy Club
Level II has taken dumps harder than Level I… does that sum it up?
L1 = Running at the park L2 = Running from the Cops ~not that I would know anything about this.
Level I = Getting Laid Level II = Getting Laid Out
Bankin’ Wrote: ------------------------------------------------------- > Level I: > http://newmedia.funnyjunk.com/pictures/17dollars_4 > 80x384.jpg > Level II: > http://japanesenostalgiccar.com/blog/wp-content/up > loads/2008/01/nwa.jpg +1
L1 : touching myself L2 : touching a cub while the mommy bear is circling you
They’re both like a one-night-stand. L1: http://www.chinadaily.com.cn/lifestyle/2006-10/20/xin_5210032014543072405331.jpg L2: http://i444.photobucket.com/albums/qq169/solinopedo/fat-bikini.jpg?t=1245052981 You may want to do L2 just once… so you can proceed: L3: http://i156.photobucket.com/albums/t17/MonteCristoHakushaku/fat%20people/NudeFatGuy.jpg
mossy695 Wrote: ------------------------------------------------------- > Level 1 :: Level 2 > Fresh, warm spring morning :: First 15 minutes of > Saving Private Ryan No offense but L 2 is not THAT tough. Give me a break