Level 2, first time taker

Hey guys, with time running out I have a question for all u who passed level 2…can u clear it with a very solid understanding of most of the material, while having a below average understanding of the swap material and perhaps trouble with some of the other more difficult subjects? Like I said, I have a good understanding of most of the material, but some of the most difficult subjects are still giving me trouble but the information I understand greatly outweighs what I struggle with…basically I’m asking is this a test where u need EVERYTHING mastered or can you get by with some subjects not being up to par?

If you have a good grasp of FRA, EQUITY, AND ETHICS, you’re in good shape I guess. But you must know other topic areas decently at least.

how can you seriously think people can answer this extremely vague question?

I think the studying is frying your brain.

Ok ill be more specific…swaps give me trouble, I’m working on them over the last few days…I’m good with accounting except some capitalizing/operating lease adjustments give me trouble, and pension adjustments depending on the question give me trouble. I’m very strong with all of equity it’s my best topic…all the other sections I can handle and there are no glaring weaknesses in them, not saying I’m perfect in them but I can hold my own

Just like level 1, it’s all about time management. Even though I knew how to do triangular fx arbitrage, I knew the question was a b*tch and it would take a long time for me to solve, so I’d skip that question and come back to it later if time permitted.

The beauty of L2 is that despite the in-depth technicals, the # of topics are far fewer than L1. L1 was basically know little of everything. L2 is know a lot of handful of things. I say this b/c by the time I hit my lunchbreak, I knew exactly what topics to study for in the afternoon, especially for FRA. FRA only has few major topics, ie inter corp inv, leases, fx translation, pensions, etc. So if 2 showed up in the morning, I knew what to focus on for the afternoon.

With the limited amount of time you have left, you really need to know your strenghts and weaknesses. Nail ethics, FRA and equities. If you’re not strong in derivs, at the very least try to understand how to do the deriv questions that were given to you in your mocks. If you’re lucky, the same type of question will show up and hopefully you can rinse/repeat.

Personally, I would nail down the leases and everything pension.

I can price a swap and am begging to understand valuing them, currency swaps r a bitch for me tho haven’t figured them out yet…for level 1 I’d do exactly what u said, skip a hard one and go back to it bc I knew the large majority of the material and it worked well I got a good score, with Level 2 I guess it’s the smaller number of questions that freaks me out bc there is less room to make up for the tough areas

Not even everything is going to be tested. Not even close. Do you know how many LOS there are? And each LOS is loaded with multiple objectives.

The best gauge you have of your chances to pass will be your scores on mocks. Had you done enough mocks, I’d assume you wouldn’t be asking this question.

Ha I did 8 mocks, so yes I think I did enough…score from 68 - 78, the average being about 71 though


Some swap help

You’re fine.

That’s terrible. you should be in the 90% to be safe. Do 10 more mocks immediately.