Introduction - Level II Pre-Study

Hi, everyone… first, an introduction.

I just passed level I in June (2014) and lurked analyst forum religiously the last few months of study to try and really grasp all of the concepts. I will be sitting for level II in June (2015) and have finally decided to make an account on here as I am aware of the increase in difficulty of L2 and will probably have to ask some pretty specific questions over the next 9+ months to truly understand the material.

Now for my first question… of many.

I plan to start my studies in September, and wanted to give a snapshot of my study plan in hopes of getting some of your opinions - charterholders welcome, so that I can refine them prior to my start.

I plan to ease back into the craziness by reading Schweser’s Secret Sauce in month one just to get familiar with the topics and language of L2.

Then, beginning in October, I will spend six months - through March, reading Schweser Notes, watching their videos and doing both end of chapter questions form Kaplan and CFAI for every reading and LOS.

Finally, during my final two months of study - April and May, I will complete nine mock exams - six Schweser, three CFAI.

Does this seem like a solid plan for attacking L2, or should this plan be refined in some way? I welcome and appreciate any thoughts or advice that people can share. Thanks, in advance!

I think you are starting too early. You don’t want to risk buring out.

I think beginning of December is adequate, but also depends how much toem you have to devote.

I do not have experience with 3rd party providers, but if you want to use them, I suggest reading CFAI first, and then read the 3rd party notes after. Since you seem to be getting a good head start, this should be no issue.

Remember, practice tons of questions.

Also, congrats on passing L1!

Adam Banks:

dis is Coach Gordon Bomay, i think u got da right study plan. i just passed level 1 in June too. I think hit the knucklepuck and we’ll be fine, brotha.

peace be wit u,


Adam Banks:

dis is Coach Gordon Bomay, i think u got da right study plan. i just passed level 1 in June too. I think hit the knucklepuck and we’ll be fine, brotha.

peace be wit u,


Good plan, the earlier you start studying the better

Thanks for the insight, everyone.

September is too early in my opinion- you risk burning out. For L2 I started in late November and that was sufficient. However, you should allocate A LOT of time to the accounting material in your study schedule. I agree with relying on Schweser for the readings and incorporating the EOC questions from the CFAI text into your studies.

Hi Adam,

I also passed level 1 with 8A2B, but I think I am the 1% who have started to prepare the 2nd day of the exam.

And I think the motive behind when to prepare really orginate on what do you plan to do with your life and how much do you think this degree actually worth.

From my experience and after contacting many from GS and HSBC, my perspection is that CFA is only a plus, a reputation, a check mark when somebody first meet you, and a way to get into a different circle, a way for promotion.

Hence, what is more important is what can you do with it. How you can apply the knowledge onto daily practice.

Thus, since my day time job is Key Account Manager for a fortune 500 tech firm, I spend a lot of my off time trying out models, use SPSS to run regression, which you learn in L2 quant, and read a lot of cross asset report from Citi, BoA, GS, Morgan, and Nomura. Most recently I built a model that predict stock price based on FCFF and FCFE.

And I think it really worth the time because you get to see how things work.

For instance, many had thought L2 Macro are all theory and no application usage. But that is absolutely garbage. Citi uses Tylor rule to estimate policy rate and GS mention inflation and interest and money supply all the time to gudge FX flow.

So in the end, is CFA the end for you?

For me, CFA is only a start. My goal is a what is called a Triple A Financial Master team. Let by Matt King from Citi. (CFA, CPA, MBA), whom have published stunning research in my view, with his recent emerging market U.S. Treasury purchase proof.

So in the end, up to you. If level 3 your goal then so be it. Everyone has a different mean to life.

Hope it help.