How important is Derivatives for Level II?

I agree with Aimee and Chi Paul. Big picture is very important sepecially, directions of underlying and the instrument prices. Long or short sides outcomes, big picture of theories. Sometimes derivatise are deceptively simple. You know, there are scopes for CFAI to make hell of a twisting to the already twister. Good news is that I scored above 70% in L1 and L2 last time. I believe I know the material at the same time I know this may give you hard time. I can give you my 2 cents tips, form a group, make sure all mambers are prepared well, make a schedule for several sittings and discuss intensively. I can assure you will have an edge on the topic.