Most difficult SS in Level 2?

CFA Level II
#1

What was the most difficult SS in Level 2 in your mind? Thanks!

#2

17

#3

17

#4

I don’t know what 17 is, but some components of derivatives (especially FRA’s for me) and this one f’ing formula in PM (although it didn’t show up in the test, nor did I know it - I think it was that duck traynor-black, but I’m not sure).

#5

I struggled with Swaps the most… not the basic pricing questions, but some of the more complex valuation problems were rough.

#6

in the quant section - time series analysis - f’n hard, dude

#7

swaptions for me

#8

Derivatives, damn it!

#9

Answers to this question are bound to be subjective…depending on people’s backgrounds. However, after having sat through the ordeal that is the L2 exam, I feel that on exam day, CFAI can turn an SS you are most comfortable with into an ugly bloodbath. On the flip side, you might just get lucky and get asked relatively easy question on a topic you are not so comfortable with. my $0.02

#10

Very subjective. Some ppl hate derivatives, some ppl hate FRA.

#11

Some people hate derivatives AND FRA. (Actually, in each of those broad topics there were only a handful of learning outcome statements that really annoyed me.)

#12

…valuing and pricing of swaps, traingular arbitrage, emerging markets valuation get no love from me.

#13

Haha, I could never remember if Dollars:Pounds meant Dollars/Pounds or Pounds/Dollars

#14

ALL OF THE ABOVE

#15

Derivatives. FRA 1

#16

Not so much whole study sessions but the topics on Time Series Analysis, Currency Translation, and Pension Fund Accounting never seemed to stick. For me, these required just memorization and acceptance rather than full understanding.

#17

Soft dolllars…

#18

CFASniper Wrote: ------------------------------------------------------- > Answers to this question are bound to be > subjective…depending on people’s backgrounds. > > However, after having sat through the ordeal that > is the L2 exam, I feel that on exam day, CFAI can > turn an SS you are most comfortable with into an > ugly bloodbath. On the flip side, you might just > get lucky and get asked relatively easy question > on a topic you are not so comfortable with. > > my $0.02 So true. I knew derivatives like the back of my hand and almost always got 5/6 or 6/6 towards the last couple months prior to the exam. But on the exam I got really confused on some of the problems… bummer.

#19

I punted Quant for the '09 L2 and luckily didn’t need to know it to pass. Derivatives are tricky and, sorry dudes, L3 is way tougher. L1 you learn what they are, L2 you learn how to value them, L3 you need to know how to use them in an overall portfolio context to meet some sort of objective. Way, way harder IMO.

#20

I honestly believe none of it is difficult INDIVIDUALLY. try putting it all together and then you’ll see difficult unless you’ve got anything less than a photographic memory.