passed somehow… thought i failed - Alternative Investments 18 - - * - Corporate Finance 36 - * - - Derivatives 36 * - - - Economics 18 * - - - Equity Investments 72 - * - - Ethical & Professional Standards 36 - - * - Financial Reporting & Analysis 72 - - * - Fixed Income Investments 36 - - * - Portfolio Management 18 * - - - Quantitative Methods 18 * - -
Ive used schweser onyl for both L1 & L2 and passed on 1st attempt. Retention is key and Schweser does a good job of condensing the material.
I only used CFAI text books…simply didn’t like the idea of injecting more money into this cash draining system for 3rd party stuff ( Schweser etc) when I can summarise the readings for myself for free…
Passed Q#TopicMax Pts<=50%51%-70%>70% -Alternative Investments18-*- -Corporate Finance36–* -Derivatives36-*- -Economics18-*- -Equity Investments72-*- -Ethical & Professional Standards36*-- -Financial Reporting & Analysis72–* -Fixed Income Investments36–* -Portfolio Management18*-- -Quantitative Methods18–* Method 1) 1st read: Nov-mid feb. 2) 2nd read: mid feb-April 3)3rd and final read: Apr-May - did so much notes i think i used the whole reem - did lots of questions (even old ones just to get the hang of it), EOC, CFA samples, CFA mocks, Stalla questions and Schweser Mocks - read mostly from textbook, but read Schweser for some concepts I x understand from reading txtbooks - started to study on 4th gear mode in April. Before that, it was mainly skimming through just to get the hang of it - put it more hours by April (maybe close to 10hrs a day) everyday as I’m doing it full time challenges: 1) Definitely memory retention!!! Had to read over and over again just to remember the concepts and formulas 2) Inconsistencies in the syllabus + answers for mocks, samples etc
PASSED my advice would be to read schweser but do as much of the textbook eoc questions. to pass u need to at least score well on equity or fra as each of them will have 4 vignettes. then focus on the middle tier subjects such as CF, fixed income, ethics and derivatives because these subjects will have 2 vignettes each. the others only have one vignette. if u dont have time dont bother to study alternative investments becoz out of approx 10 readings there will only be 6 questions. gd luck.
Hello all. I have been one of those ‘lurkers’ on AF for some time. I scored >70 in all 10 sections and figured I would share my strategy (in return for all the good tips and tricks posted here as I prepped for the exam). My background - Studied Finance and International Business in college - Currently work in FX Strategy role for global investment bank There is a lot of back and forth on AF regarding which study method makes most sense. Your decision should be based ENTIRELY on YOUR background. If you studied Finance in school or have worked full-time in a market facing role, I encourage you to go solely with Schweser, with maybe some time spent working CFAI EOC questions on weak topics (which is what I did). If you do not already have a strong background, then the CFAI books might be useful. My general advice would be to make sure you understand the underlying concepts. Do not blindly memorize formulas or use silly mnemonics. Otherwise, come test day, you will get confused with sneaky problem twists. If you get the concept, you often will be able to logic out how a formula should look and easily spot the twists embedded in questions. So pick the prep materials that get you to that comfort level. I started prepping in February, after officially passing Level I. So three months spent reading through the Schweser books followed by one month of mock exams. Given the truncated timeframe, I tried to do something CFA-related 5 or 6 days a week, with weekends doing much of the heavy lifting (given that work accounted for 60+ hours of my weekdays). In order to ensure memory retention, I would do the following: read a chapter, do the Schweser MC questions associated with that chapter and then take detailed notes on the important bits covered, including formulas and key concepts (do not rewrite the book, just the most important points). I found this useful for 2 reasons… 1) working problems as you go along ensures you know your strengths and weaknesses and 2) you don’t need to waste as much time reviewing the material in May because your notes help fill in gaps in memory. Toss in some CFAI questions if you need them but do not bother wasting your time with Q-Bank questions, unless you have little to no grasp of the basics (because that’s what those questions are meant to test). If you struggle with focus, consider purchasing Schweser’s online classes. They aren’t cheap but help provide the requisite change of pace needed to keep trucking through the material. Also consider changing up where you study, just to feel like you have a life (because lord knows you don’t). Try to go the gym every couple of days too, just to keep your energy level high and mind refreshed. Nothing quite eases stress like running a couple miles before reading two hours of FRA. Once you reach May, your focus should be entirely on plowing through mock exams. I did all six mocks offered in the Schweser books as well as the official CFAI mock. This sounds obvious, but do not attempt a new mock until you fully understand what went wrong with the previous one. If you are scoring below 70, especially in FRA or Equities, then brush up on weak subject areas and take notes. Then try another mock and see if the results change. By late May, I was scoring around 80 on most mocks, if not higher. So to sum up: 1) Choose your prep materials based on your background. 2) Read, drill, take notes. Vary your routine and find a hobby to maintain your mental health. 3) Drill, drill, drill in the final month. Do not move on from a mock exam until you know exactly what your strengths and weaknesses are. Good luck! Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Investments 18 - - * - Corporate Finance 36 - - * - Derivatives 36 - - * - Economics 18 - - * - Equity Investments 72 - - * - Ethical & Professional Standards 36 - - * - Financial Reporting & Analysis 72 - - * - Fixed Income Investments 36 - - * - Portfolio Management 18 - - * - Quantitative Methods 18 - - *
@Hb2021 +1000000 on the exercise, there was no way in hell i was gonna be able to pass this exam without a proper exercise regiment.
Passed Level 1 in Dec, started studying mid-March one day a weekend. Probably around 50-60 hours of studying. I wasn’t planning on passing because I had started a new job that was taking a lot of time. BUT I did a business undergrad degree at a prestigious financing orientated school and have been in reserach since then for four years. Reread Elan Level 1 11th Hour Review Read the ethics section in CFAI Read Elan 11th Hour Review for Level 2 10 hours Thursday and Friday doing the CFA mock exam And that’s all. Think I was borderline pass, Ethics probably saved me. Item Set Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Investments 18 * - - - Corporate Finance 36 * - - - Derivatives 36 - * - - Economics 18 - * - - Equity Investments 72 - * - - Ethical & Professional Standards 36 - - * - Financial Reporting & Analysis 72 - - * - Fixed Income Investments 36 - - * - Portfolio Management 18 * - - - Quantitative Methods 18 * - -
Passed with 7 sections above 70, 2 sections 50-70 , and 1 section below 50. Many have suggested very useful approaches and I try to be brief. 1. I relied on Schweser notes. Read all the notes thoroughly and make sure that you understand every concept. “Understand” means you can close the books/notes and tell yourself what it is about. 2. Do one practice exam after thoroughly reading all Schweser notes and time the exam. Do NOT read the notes even if you do not firmly know the answer. Try to make a guess using your logic and limited information sets because this may be what is going to happen in the real exam. 3. Be patient to check every question and its answer after the practice exam. Do NOT ignore a question because your answer is correct. You may just have guessed it right or your thinking may be wrong. 4. From 1 - 3 you can identify your strengths and weaknesses. Repeat 1- 3, and in step 1, try to focus on the weak parts using notes (or refer to books if notes are not sufficient to make you understand). From that you should be able to get a pass if you have enough time to repeat the processes and use efficiently all the practice exams. And after the REAL exam, I checked my answers from the notes and found that I surely made something like 2x choices wrong and was not sure if other answers were all correct. I was rather depressed and thought of retaking. But it turned out I got a pass with a fairly good result. My conclusion is that if you have enough time to cover topics widely and deeply enough, you are better than most of the people. Good luck!
braddpitt69 Wrote: ------------------------------------------------------- > Passed > > Method: CFA books only. EOC and Examples. No > mocks. Started Prep in April > > Item Set > Q# Topic Max Pts <=50% 51%-70% >70% > - Alternative Investments 18 - - * > - Corporate Finance 36 - - * > - Derivatives 36 - - * > - Economics 18 - - * > - Equity Investments 72 - * - > - Ethical & Professional Standards 36 - - * > - Financial Reporting & Analysis 72 - - * > - Fixed Income Investments 36 - * - > - Portfolio Management 18 - - * > - Quantitative Methods 18 - - * So bradpitt69, you read all CFAI books + did all EOC questions (+ no mock exams or other questions) in TWO months time and passed? If true, I really envy people like you. That would be an impossible task for me, even if I spent every waking moment for 2 months. People like you cause people like me to take this exam multiple times before passing. Congrats.
Passed on 4th attempt… After lightly reading Schweser books, I spent the majority of my time answering questions (Q-bank and mock exams) and reviewing my incorrect answers. I didn’t use anything from CFAI except for their mock exams which I found extremely helpful.
Level 2: Pass Item Set Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Investments 18 - - * - Corporate Finance 36 - * - - Derivatives 36 * - - - Economics 18 * - - - Equity Investments 72 - * - - Ethical & Professional Standards 36 - * - - Financial Reporting & Analysis 72 - - * - Fixed Income Investments 36 - * - - Portfolio Management 18 * - - - Quantitative Methods 18 * - - Meaning max score I could get was 81 correct points. = 67.50%
500 hours sharp, spread over 4 months done studying a week before exam read all of CFAI and Schweser multiple times if i was to do it again, Schweser is enough, I just had to make sure. about 3 CFAI mocks, and 6 Schweser mocks, scores started at 70 and improved to mid 80 if you think you are going to know it al, you are crazy! Schweser vids are usefull for topics you don’t get, and for days you just dnt feel like studying Nothing is hard, just give it time… always willing to answer questions adzt at live dot com Alternative Investments 18 - - * - Corporate Finance 36 - - * - Derivatives 36 - - * - Economics 18 * - - - Equity Investments 72 - - * - Ethical & Professional Standards 36 - - * - Financial Reporting & Analysis 72 - - * - Fixed Income Investments 36 - - * - Portfolio Management 18 - * - - Quantitative Methods 18 - - * ps i was econ god in undergrad, got < 50 here, goes to show you that his test can surprise you , go in that room expecting anything.
Passed in this 2nd attempt! 1st attempt was with Institute books, this one with Schweser! Saved a hell lot of time (with Schweser) which matters a lot when you are working as well! Solved 5 Schweser papers (Would recommend at least 3!) + Mocks. TBF, would recommend Schweser to L2 first-timers as well! Just solve all the papers too! Item Set Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Investments 18 - - * - Corporate Finance 36 - - * - Derivatives 36 * - - - Economics 18 * - - - Equity Investments 72 - - * - Ethical & Professional Standards 36 - - * - Financial Reporting & Analysis 72 - - * - Fixed Income Investments 36 - * - - Portfolio Management 18 * - - - Quantitative Methods 18 * - -
Read Schweser almost exclusively and focused on the EOC questions from CFA. Took two full CFA mock exams and read Secret Sauce a couple days before the exam. Started studying about the second weekend in February after passing Level I in December. Averaged 2-3 hours a day 3 days a week, and then averaged 10-16 hours on the weekend. Took roughly one weekend off per month due to stuff going on. Also took the entire week off work before the exam to review. There’s no doubt in my mind my results are due to hard work. I am dissapointed and little taken aback by my equity score, but a pass is a pass, so I’ll shut up now. -Alternative Investments18–* -Corporate Finance36*-- -Derivatives36-*- -Economics18–* -Equity Investments72*-- -Ethical & Professional Standards36–* -Financial Reporting & Analysis72–* -Fixed Income Investments36–* -Portfolio Management18–* -Quantitative Methods18*–
- Started studying in February (after level 1 results) - Work full-time (~50 hours p week), so I studied mostly weekends and not much during the week - Reading was exclusively schweser. I read through it twice, although more of a skim the second time. Schweser has everything you need. - Did some EOC questions from CFAI, these are definitely helpful for identifying weak areas. Some of the Qs are tedious, so I just read through the answers to make sure I understood them. Had some background in math / derivatives (although I did poorly on the quant section), but otherwise no finance background. Probably studied around 200 hours total. Fairly good test taker by nature.
First time pass: -started in February, after the results from Level 1 were announced. -went twice through Schweser only. I have made the EOC vignettes (so not all the tests, just the ones similar to the exam) and this was a very very good idea. -Practice Exams from Schweser, completely, 2 weeks before the exam - I found the Quick Sheet from Schweser to be very helpfull, it had all the info in a very condensed manner and I went several times throught it, it was very good for recap. -I think one should read through the CFA books though, maybe at MBS, ABS, I felt it was a difference here, or in Quants.