i only used schweser both for level 1 in dec 2012 and level 2 in june 2013 and passed… here is my level 2 score Item Set
Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Investments 36 - * - - Corporate Finance 36 - * - - Derivatives 36 - - * - Economics 18 - - * - Equity Investments 72 - - * - Ethical & Professional Standards 36 * - - - Financial Reporting & Analysis 72 - - * - Fixed Income Investments 18 - * - - Portfolio Management 18 - * - - Quantitative Methods 18 - - *
*PEACE*
Same here. Only Schweser and 1 CFA Mock
Schweser is more than sufficent especially if you combine it with the CFAI questions.
edit - I will say that they didn’t do the best job with Alt Inv
Same, Schwesernotes, all 6 practice exams plus the CFAI mock, and I think 60 questions for each SS from Qbank. One read through, ~3 weeks of revision. Scored 70+ in all sections except Ethics (50-70) and Alt Inv, Deriv, PM (<50). Those fails are really bugging me.
I still haven’t ever touched the CFAI books other than to put them on my bookshelf, and didn’t do any practice questions while reading - just scribbled notes down in a book and put extra effort into following schwesers blue box examples. I regret that part, revision would have been a LOT easier if I’d done even just the concept checkers as I went.
For both Level I and II, I only watched schweser lectures, did all qbank, most practice exams, all CFAI EOC questions, and CFAI mock. I didn’t read a single chapter of either CFAI or schweser books, but passed Level I in December 2012 then Level II in June 2013. All those things still took me 300+ hours, but I learn more quickly through watching videos and solving problems as opposed to reading. I definitely recommend it and plan on doing it for Level III in June 2014!
Edit: One downfall would be that schweser didn’t prepare me 100% for all the sections, especially AI and Economics which I got <50%
I used Schweser primarily for the readings and videos. When I needed clarification, I went to CFAI materials. I skipped Q-bank and the Schweser practice Q’s.
I used Finquiz for practice problems… about 50% of my studying was simply drilling on Finquiz problems.
I saved the Schweser mocks and CFAI problems for April and on… after the 1st week in May, all I did were CFAI problems and mocks.
Allow me to one-up you:
Used only schweser videos and 4 mocks as prep - passed.
That’s cutting it close… almost hard to believe.
Schweser all the way! III gonna be the same
The 2013 level 2 exam was a big fuck you to schweser from the CFAI test makers. They tested a lot of things which schweser didnt cover properly so you guys are lucky.
I think there were 4-5 questions that were out of left field, but I thought equity/FRA was really close to Schweser, a lot more than the CFAI mock exam. I did all Schweser videos other than ethics and read the books only for FRA and equity, supplementing videos with pieces of the remaining books when I didn’t understand fully. Did 3 Schweser mock exams.
Only used Schweser and took 4 Schweiser mock exams, after the test I felt pretty good except for Ethics which I had just browsed and Econ where I felt they tested stuff that Schweser did not cover. Passed with > 70% in everything except Econ which was 50% <> 70% and Ethics < 50%, so I guess my impression was quite accurate.
Anyway, I will most likely rely on Schweser for level 3 as well, they mostly do a very good job of summarizing things without leaving anything major out, and focus and what is more likely to be tested. I really can’t make myself read the CFAI books, I find them too lengthy and dispersive. I am also a finance major though.
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Yea that still bugs me too. I still wonder if you actually needed to know the formula to figure out the answer, there may have been a shortcut… couldn’t figure it out during the exam, I think I just ended up guessing what seemed to be the most likely correct answer.
They also didn’t cover that rule in Econ. The stuff that was new to the cirriculum in 2013 was poorly done by Schweser… Econ, AI and pensions.
Ohh yes i remember that schweser’s econ thread. I think it was you who pointed out about that rule which was not covered and then one of the schweser managers responded to your post and said it is not needed. Later, the guy appologised and said he mistakenly thought we are talking about Level I. Haha stupid guy!
I honestly believe schweser has really f***** up this time, and you are guys are very lucky to pass with using only schweser. For me, elan and CFAI curriculum has done the job.
I used Schweser notes, all qbank that were graded as intermediate or advanced, all EOC, all practice tests, live mock… + All CFAI EOC and CFAI mock. I think that Schweser did a fair job; they are a shortcut so you will never get everything from them and I did a little poorer on the actual test than in Schweser mocks (at least based on my 40/60/80 estimate). I didn’t want to dump all time needed into reading the actual CFAI text gien that I was a december L1 passer and spent most of the spring feeling like I was behind the ball. I’m 2/2 with Schweser so all in all I am pleased but I feel that for a lot of the material one really needs to combine with EOC and BB from the official text. Everyone is different though so I have not used the videos but I know that a lot of people depend on them, to each his/her own. I think the major take away I would tell someone thinking about Schweser is that it is a shortcut so you need to know what they give you very well as you will see little suprises on the test…
I only used Schweser (and not CFAI books) and for the most part knew (or should have known) most of the questions. I thought Economics was the only area where Schweser maybe didn’t cover enough of the actual questions. I picked up the CFAI book after and saw the Econ questions but Schweser didn’t really review them the way they were asked in the exam and the blue book examples.
Schweser helps you Pass and is not about getting a perfect score. That’s fine with me!
Started with the recipe for success - EOC from CFAI, Videos, Notes and end chapter questions from Scheweser.
2 Months before the exam - Could not recollect or had the courage to revise EOC from CFAI, focused solely on Scheweser - Notes and end of chapter questions along with the videos. Exception was Ethics, which I covered from CFAI.
Did not attempt a single practice test.
Level II actual exam questions were no surprise, 99.9% covered in Schewesers.
Passed Level I in Dec 2012 (50 to 70 in quants, rest above 70) and Level II in Dec 2013 (50 to 70 in Eco and AI, rest above 70)
This has worked for me so far.
My background - PRM with around 7 years of banking experience (credit analysis and some derivatives experience) but a good part of the curriculum was new to me.
Hi,
I just passed Level I and was interested in this thread.
But you guys should’ve mentioned something about your backgrounds and work experience.
It could make all the difference between needing or not needing to read the CFAI curriculum to pass.
Thanks anyway.
P.S. Is it true that the CFAI Books labeled a Topic “optional” then then the Institute published in the Errate that it was actually not optional?