I’m taking L2 this year and was wondering if you have seen the benefits of hitting L2 Portfolio Management hard and then going onto L3 PM. Does L3 PM material build on L2 PM, or is it mostly new stuff and different perspectives that the CFAI throws in?
For all intents and purposes, there is not PM at level 2.
pp, The PM at level II is mostly theoretical, where at L III it is more practical. Sort of how do you carry out some of the stuff you learned at L II. I certainly won’t hurt to have a good understand of PM at level II. Plus it is arguably the hardest section on the L II exam.
philip, I think good understanding of Ethics, Fixed Income, Equities and Derivatives portions of Level II will be most applicable to Level III material.
what maratikus said. At level 2, you will probably get 1 vignette and it will more than likely have a lot to do with Modern portfolio theory for at least half of it. I would run with that assumption. And study it from the CFAI material if you have the time.
At level II PM is an area were you can have a competitive advantage over other candidates.
mwvt9 Wrote: ------------------------------------------------------- > At level II PM is an area were you can have a > competitive advantage over other candidates. I thought I did last year, but then they went and pulled half of the questions out of some footnote. That damn vignette was just hanging over us through the whole test. Like they wanted to leave us with some parting thoughts for the next 3 months…
I rocked that vignette! But I failed ethics. : )
I got two wrong on PM and the econ vignette (BOP) and got two ugly mid-level *'s as a result.
cool - thanks for the feedback guys “At level II PM is an area were you can have a competitive advantage over other candidates.” thats the kind of stuff I like to hear - motivating