Preparation time required for Level II

hi guys i cleared my level 1 exam couple of days back.

I wanted to know what is the average time is required to prepare and clear level 2.

Also is schwesar notes enough??

Please guide me…

Congrats! I cleared Level 1 too. Have been studying since Dec. You should have started by now. Schweser is sufficient provided you do the questions from curriculum. Best of luck!

Schweser is not enough for most people, including myself (who wanted so badly to believe Schweser was enough). I found after the first few readings of Schweser, I did OK (see: struggled) through the CFAI EOC’s which are much more reliable as a barometer of your understanding. After that, I tried a few readings from the curriculum and had much more success on the CFAI EOC’s and the Schweser Concept Checkers were a breeze. Why not get it from the horse’s mouth?

I can now look through the corresponding Schweser readings and review them in no time because I can quickly skip to only the conpcepts which I need to further cement. I’m now convinced Schweser is only a good supplement to the curriculum and cannot be used as a substitute (with some EOC’s sprinkled in there). There will be those who had success using only Schweser, but there will also be those who failed relying only on Schweser. Retakers who used the curriculum likely won’t tell you it wasn’t explained enough in the reading - they’ll probably point to lack of time/preparation as the reason. I say you take the extra time to read the verbose curriculum. Sucks, but I think it’s worth it.

Long story short : try a derivatives reading in Schweser- say Forwards - and then have a go at the CFAI EOC’s. After that, make a decision about the best course of action.

Seriously, I want Schweser to be enough in the WORST way…don’t think it is.

I’m wondering this too. I may err on the side of caution and take the June 2014 exam. I didn’t give myself enough time to review the level I material, but managed to pass. I don’t want to make the same mistake twice.

Level I was a huge learning curve for me (my background is in liberal arts). I’d love to hear from anyone who also passed level I without a background in finance and was able to pass level II a few months later.


I have a background in finance and I spent 150 hours on level 1 this past December. I plan to double that to 300 for level 2 in June and hope for the best.

Well, almost 300 hours of prep time is quite enough. That’s what I did … but, the main thing for me was time management where TimePrep helped me a lot!

It disciplined me and made me more focused on my studies and time management turned out crutial for me in the last study session. It let’s me organize my time perfectly - I know if I have enough time, if I’ll make it or not on time, it tracks my progress. I always know “where I am” in terms of progress.

If you also have iPad, it syncs with your local calendar and your study plans are always available and known to you. Maybe, you should also check it out - … On the side note, it also has some great advice and tips for studying on their blog posts … obviously, they are written by the CFA Chartholders giving back to the Community. So, as TimePrep told me, I spent little less than 300h overall on the preparation and I managed to pass :slight_smile:

I’ll definitely check out TimePrep for crutial advice and tips for studying, and to assist me with time management for the Level 1 exam!

Thanks for spamming the thread with your ad and not answering the question. cheeky

Once you cleared Level1 you can never call yourself “no background in finance”… I am an IT programmer too and had no background… We already have a background now since we cleared level 1 :slight_smile: So no worries…

Hit the books fast, get used to the new format of test questions. Do most of your porblem solving in Vignette format! The earlier you devise your strategy to answer vignette questions, the better it is! Good luck!

I took Level 1 in December, and turned around and tried to take Level 2 six months later. I put in about 200 hours of study and failed.

The next year, I studied about 400 hours (on top of the 200 I already studied) and passed.

I used only Schweser videos, notes, QBank and practice exams. I also used CFAI EOC questions.

So, to answer your question, Schweser was enough for me. But I’m not you, and you’re not me. Do what you think is best for you.

Thanks for the tips :slight_smile:

Hey Sooraj, just curious why would an IT programmer pursue CFA?