So I passed Level 1 last June which I know is significantly easier than level 2. I’ll probably get alot of negative feedback for this question or strategy but let me know if it definitely won’t work. So I went throguh the Schweser books once last time and when I got through felt like I had retained maybe 15% of the material. Seeing how much time it takes to get through the books this doesn’t seem like a great investment of time to me. Towards April I printed all the LOS at the end of each section in Schweser that does a good job summarizing the main points of the section. I pretty much commited these to memory going through them roughly 10 times and over 300 flashcard formulas. Then I took about 6 practice tests and passed. So would it be crazy to repeatedly go over the LOS summary sections for level 2 until I have them down and relevant formulas, then continuially take practice tests? I need repetition for things to stick with me and going through 2,500 pages of material multiple times isn’t really an option. any thoughts? thanks
Not a terrible option, the LOS is what is testible. Just make sure you read around the exact LOS as well so you have a good enough background of whats going on and how they will ask questions and require you to manipulate formulas.
If thats what worked for you last time I dont see why it wouldnt this time, but a L3 candidate of charterholder would be in a better position to say than I would
thanks for the feedback!
I think you are making a big mistake. You could get away with that in Level I because of the sheer amount of material that is being tested. Level II is the opposite. Less topics but much much more indepth requirement of knowledge. This level isn’t memorize a formula and pass, it requires actual knowledge of the topics and knowing how to apply them.
Read and work the blue box examples in the curriculum - you can’t have any blind spots for Lv II.
I have sat the paper twice, June 2015 I was a band 10 … there are no short cuts for this one given the item set formating of the questions.
It wasn’t until my resit this year that I felt I had got a number of the areas under my belt, Equity and FRA being the biggest … you need to have a strong grounding in the niche segements also, like portfolio management and Corp Finance and Fixed income.
Just do a simple experiment.
Read all the LOS of reading 44 and try to figure out the practice problems.
I mean you can’t answer all of the questions, the mathematical ones are tought but I figure if you go through those and understand them within Schweser as well as CFAI books, and multiple practice tests you would pickup what you missed? Idk maybe this is a bad plan, haven’t gotten consistent feedback so I’m thinking about switching
tough*
I studied for Level 1 using similar strategies sss23 had used. I didn’t necessarily understand much of what I read. I used mostly third party notes and questions, emphasizing on repitition and short-term memory drills. Level 2 dives into concepts in depth, burying them in item-set questions. A thorough understanding of the concepts is crucial, and I even plan to read through the CFAI curriculum.
100% agree on the need for repitition, but seems odd to me to invent ways to get that when the practice problems exist. There must have been 1,000 PP in the L1 curriculum, and I would guess that the 240 questions asked were mostly variations on these, not total deviations. For sure, flash cards are useful, just as they’re useful when memorizing football plays. But the mental “muscle memory” when applying them is everything.
I repeated Ethics (since it’s a same as on L1), and continued with Quants. Quants seems more understable (I just avoid using term “easier”) than on L1. Pretty pleasent suprise is shorter Econ and Quants topic than in L1. IMO, L1 although easier by matter, directed us to apply the correct approach to overall study process which also explains the average higher rate of passing compared with L1.
the average higher rate has to do with the fact the all level II candidates are prescreened, which is, they have all passed level I and are committed to level II. And out of those 40% or so who passed level II, a portion of them would be retakers. I personally know 4 people who has failed level II.
Im on schewer notes FRA materials, i happy that this sections is only like 200+ pages compare with 350+ in level I. The stuff are understandable but it takes me much longer to understand so the progress is much slower. and i asume i ll encounter great difficulty in the item set questions.
hope i ll find quan and econ understandable too 
Return of the Jedi… 
The power is strong, Jounin will break L2 this summer…
I know the guy, CFA charterholder who really enjoyed L2 and still saying it was more easier for him than L1.
BTW, I do not expect any problem with FRA but expect problems with derivatives and bond valuation.
Thank you for the encouragement… 
Dude, do you work for or are you the creator of TimePrep…you push it in every single post you make!!
now prepareing for level 2 and don’t remember most of the level 1 topics.
what are your study tips? Are knowing level 1 topics important to pass level 2?
Should I review level 1 first or should I directly start with Level 2 books?
went slow at FRA/Equity in the fall, now doing 1 SS a week. i’ve noticed a huge variation in difficulty between readings. E.g., Economics – FX was as hard for me as it is for anyone. Got below 50% on the PP the first 2-3 passes, and still only getting 75%. But the third reading I think had 8 PP, and they were pretty easy. For the second ecomics reading on growth – which is a personal area of interest – I got about 90% on the PP without doing the reading. Not at all bragging. I think I just knew stuff from reading the newspaper. But I’m sure a high school student could master the growth reading in about 2 hours. But I’m also sure, between learning, maintaining and revising, I’ll probably put 20+ hours into FX. Maybe 30.
So, my approach, now, is to pick out a crux or two from each SS and to over-rotate on that, and go pretty easy on the rest. Just skim it. I’m leaving myself 12 weeks at the end. I figure I can close gaps on soft stuff in 12 weeks, but I’m terrified of trying to tackle 20 hours of raw comprehension on a single topic when the exam is weeks away.
After exercicising down-up and vice versa conversion rules and remember FX forward value equations, 1st Econ chapter is not as difficult as it seems to me by starting. The next 2 are even much easier to catch.
My Schweser jump mode (or trial or whatever is called) expiring soon and I am almost done with mastering first 3 sessions (Ethics, Quants and Econ).Those are the only inside this pro forma digital book. I am looking forward for 1st L exam results and if it would be favorable, I am getting into higher gear of L2 study, also will be able to download entire L2 curriculum.
The June exam term is really unfavorable for next level studying for us with taken recent December exam. Many of you have a chance to end up with a complete preparation L2 even 5 months prior the exam while others are just starting with studying. My work schedule till June exam is not so favorable and December term is much better for me. I don’t know why is only limited to L1.