How much time should I devote for level II preparations


I took Level I in December 2012 and spent 400 hours preparing for it.

I used CFAI books and Kaplan videos as well as some Kaplan summary book.

I would like to the same mix of study materials used for level II in June 2014

Therefore, I’d like to ask how much time can it take, since I have to divide my time in the following year between GMAT, TOEFL and CFA level II

If you’re that worried about an exam that’s a full year away, you should plan to get GMAT and TOEFL done ASAP; you have nearly 2 months before you could even sign up for CFA L2 anyway, might as well be efficient. If you needed 400 hours for L1 and feel that was time well spent, you’ll need at least that much, if not more, for L2.


At least a week.

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I think a general rule of thumb is twice what you spent for L1, given that you put in 400 for L1 I don’t think you will need 800 but I would not be suprised if you needed close to 600. I spent nearly double on L2 and perhapse a better measure is that I made more than double the number of note cards I did for L1. However I think focusing on the GMAT/TOEFL first is probably a good idea. You can spend some serious time with that right now and get around to CFA later in the year and still have time to fit it all in.

A millenium might be enough

I’d sign up for level ii in 2017 that should be enough time for gaap and ifrs to converge

Hope springs eternal.

(Alas, it’ll never happen.)

Never enough.

I didn’t always track the time, but it’s somewhere between 700 and 800 hours.

Thanks for your responses, I will treat 800 hours as an upper bound of my preparation, and a benchmark for the time needed.

I’ll use 4 months for GMAT and TOEFL combined, and then starting in October use remaining 8 months for CFA level II. With 800 hours assumption I will devote nearly 24 hours/ week for CFA level II.

800 Hours?!?!?!

These numbers are insane, you shouldn’t need more than 300-400 hours of good study. I prepared for L2 starting in Late Feb, working full time and probably put in close to but not over 300 and I felt pretty prepared for that exam. This is also coming from someone who has never taken an accounting or economics class. That being said, depending on how good your english is, you may need some extra time.

Not too much; but JUST enough.

Oppa Soviet style… Just break it!

He’s not human. He’s like a piece of iron.

800 hrs . . . if your mind tends to wonder mid-sentence (mine does). lol

i agree with the post saying 500

i advise you to give ethics, FRA and equity minimum of 250 - 300 hours

good luck

Just dont forget the H model. You will need it in level 3.

HAHA about the H model. That showed up in the curriculum, and I was like, didn’t I learn that at L2? Good thing it was easy to resurrect, because I did forget the exact formula. “DDM plus half the difference”