Level 2 FRA

CFA Level II FRA
#21

Hey, so is FRA what brought your average down, based on your assessment? and is it the most challenging for you?

#22

The most challenging on L2 for me was Ethics.

#23

Just starting the next volume.

Looks like Volume 3 (Corporate Finance) has significant L1 overlap in the first reading (R21-Capital Budgeting).

#24

Volume 3 is solid. So much more interesting than Volume 2.

#25

wait, so it isnt that easy for you guys either? I found that the accountants fly past the accounting section.

I come from a math background and only did afm 101 and 102 in school so FRA is a big pain! i guess i will start accounting review first!

would anyone recommend me re-reading accounting from level 1 or is that just a big waste of time?

#26

It’s not that it’s difficult in an analytical or conceptual sense.

It’s difficult because it is uninteresting.

When I am forced to study material I am not interested in it takes me a lot longer to do (I am constantly zoning out). Doing the questions serves me best.

In a related question: Can the CFA serve as a “credit requirement” to take the CPA?

I have a few degrees, but I do not have the 12 accounting credits needed to take the CPA in NY.

I was thinking about going for the CPA next year.

#27

You’re not interested in FRA part but you’re considering to take a CPA exam?

#28

Good point.

But I think I need to force myself to be good at accounting material for career reasons.

Although the Last 1/3 of FRA I enjoyed.

I guess I could always take a few accounting graduate courses. Personally, I tend to think this is the stuff analysts miss.

#29

I was forcing myself to study for significant part of level 3 exam, especially the part related to performance attribution and performance measurement. I mean GIPS and another things. But that’s it. For ones, FRA is the worst thing to remember on CFA exams, for another, this is wealth management area, portfolio performance and related things. This depends on one’s previous level of experience and personal area of interest. IMO, the term “financial analyst” is more familiar to financial reporting understanding and analyzing than on wealth planning and performance measurement.

#30

I second that.