I come from a finance background but have to admit it was not from a top notch university. My statistics knowledge is purely from what I learned in L1. I looked at the curriculum yesterday and almost fainted. Quant looked chinese!! I have never heard of any of the topics! Annova table?? what the hell is that? I have heard of regression but thats about it. Anyone feel the same when they first started? If so- how did u pass? I bet the engineers had the edge on us for this one
Why would you call the quant part “chinese”?
Read the quant from curriculum book, a few times. Also listen to scheweser videos. Quant is tough, but after reading a few times it starts to get settled.
to compare it to a language i am not familiar with
I just passed L2 and I was happy to see regression/econometrics in the curriculum because I was an econ/math major as an undergraduate and econ/econometrics major in grad school. I used to actually teach this stuff and I also taught it for the L2 exam this year through the study group I started at work ( www.wbcfastudygroup.org ) Quant is actually simpler than you think. You can learn it by just rote memorization but that will not serve you because you will probably forget it again and have to put in more time to re-memorize this stuff. The route I would recommend is to start with the basics building blocks and see where all those “chinese” looking formulas come from. I can help you through that process but we will have to start super early, like now since I also have to study for my own L3 exam and I think the sooner you start the more time you will have to grasp this stuff. ( joel.niamien@gmail.com if you would like to hear more ).
I was so happy to see the quant questions this yr… it was exactly the questions I studied very well on! Take your time through it, quant is very easy to skim past and not really understand what’s happening.
Just about the entire level 2 material will be new to most people, that’s why it’s a lot harder
Agree with what’s posted above. Quant and Derivatives looked impossible when I first opened the book, but I nailed them both at >70 on exam day.
I have to admit I was a little intimidated at first, but focus on the LOS and the EOC questions, very little actual calculation involved (took l2 in June)
sungirl27 Wrote: ------------------------------------------------------- > to compare it to a language i am not familiar with Where are you located “sunshine girl, age 27” ? You are sort of very active in unpacking and posting at your new home of L2, learning all new language and L2 stuff.
Read Quant 50 times and I promise it will start to make sense on the 49th read. Seriously tho, the more I read it, the easier it got. Know this, it’s only 6 questions on the exam, most likely, so don’t go too crazy. Read it once, do the end of chapter CFAI questions and move on. The bad news is, Quant this yr was insanely easy compared to the prior yrs level 2 exam (failed last yr, passed this yr) so I can’t see them making it easy 2 yrs in a row but who knows. Just pray to not have time series.
chinese with some japanese and arabic mixed in.
sungirl27 Wrote: ------------------------------------------------------- > I come from a finance background but have to admit > it was not from a top notch university. My > statistics knowledge is purely from what I learned > in L1. > > I looked at the curriculum yesterday and almost > fainted. Quant looked chinese!! I have never heard > of any of the topics! Annova table?? what the hell > is that? I have heard of regression but thats > about it. > > Anyone feel the same when they first started? > > If so- how did u pass? > > > I bet the engineers had the edge on us for this > one Don’t sweat it at all I was in the exact same boat as you and I think I pulled 100% on the Quant in L2. Study it get through it and come back to it. Hit Multiple Regression hard that will cover both simple and multiple. The more you go over it the easier it is. Also quite a bit of the material is not calc’s, it is memorization of the terminology: Big points are Heteroskedasticity, Serial Correlation, Multicollinearity, Define it, Detect it and correct for it, Model Mis-specification etc. Build notecards on all of the Memorization parts and that will help allot. It is definitely a building process chances are it will only be 6 questions on the exam so don’t kill yourself.
what you trying to say about Chinese huh sunkist?
Sungirl, Just start reading through the quant section in the CFA text. Everything looks crazy and overwhelming when you glance through the pages. Crack the book open and read on. Its pretty intuitive and you’ll be fine.
i am actually 26, but my birthday is on a 27… kuwait shows u how scared i am
that i bow to those who took it as a second language.
It’s a very difficult test, but 40% of the people taking it do pass. You may feel like you’re screwed if you don’t know every little detail, but in reality you just need to know more than 60% of the other people. It’s just a matter of hard work.
thank u all for the helpful replies, still not sitting easy, need to start to cure the itch
sungirl27 Wrote: ------------------------------------------------------- > i am actually 26, but my birthday is on a 27… > > kuwait > > shows u how scared i am > > still not sitting easy, need to start to cure the itch Girl from the sun, relax and easy, at least for now. You are little paranoid and freaking people out. It makes me also eagerly want to start study for L2 this week, too. I agree from all the posts the consensus of L2 is the monster escalated from the little L1 imp. I am not sure what is your background from school or work from your day job that makes you worry so much, but it is 10 months ahead of slaying the L2 monster in the Colosseum. Keep in mind many people who are aiming for the glorious “18-month with 3/3 plan” passed L2 with only 4 months of study from February after passed L1 in December. You will be doing fine with all advice other people posted by starting study now. You can start a L2 progress thread to keep track. A total stranger does not equal to a specific foreign language, you don’t call a stranger on the street a foreign language. You can turn a stranger into a FB friend or a fluent language.