I just got my charter and it feels really great. Hours and hours went into prepping for this exam, and somehow I made it happen. I passed L3 this summer, but the reason I’m posting here is that I really feel like L2 was the hump I needed to cross to get the designation. When I was studying for L2 I worried that if I didn’t pass L2, the CFA charter wouldn’t be a reality to me. And I was extra stress because life got in the way and I only had 150-200 hours of study.
Words of advice for L2:
DO ALL OF THE PRACTICE PROBLEMS FROM CFAI EOC AND BLUE BOX. I didn’t think Kaplan’s questions were as realistic as the CFAI EOC. I’m convinced that EOC + Topic tests and really knowing why I got things wrong was what helped me pass the exam.
GET EXTRA HELP FOR ACCOUNTING. I took John Harris’s Accounting Workshop / course – and that was the best $550 I’ve ever spent. I wouldn’t have been able to pass without getting FRA down pat early on even if I didn’t understand it – once it came down to crunch time everything clicked.
MAKE SURE YOU UNDERSTAND THE MODELS AND WHY YOU DO THINGS. There are lots of formulas to learn, but if you don’t understand why you’re doing what you’re doing, you could easily fall prey to tricks from the CFAI.
Best of luck to everyone. You all can do this. Start early (don’t be like me), and study often, and in a few years, you will get your charter as well, and it will feel amazing. I believe in you!
As someone who needs to resit for Level 2 in 2019, these suggestions and words of encouragement are appreciated. We all have different backgrounds, so the suggestion on accounting is not as relevant for me, but derivatives is still making my head spin and would be grateful for any tips