I’m trying to search for the answer to my questions but have had no luck. I just received my L2 books in the mail and am trying to figure out a study plan. I used Schwesser for L1 but then reverted back to CFAI to fill in the gaps during the final months. It doesn’t sound like that will work with L2. At best it’ll be an easy read. 1) Has anyone passed or known someone who passed using only CFAI? A lot of people are saying that you will use more of CFAI than you did in L1. So would Schweser even be worth it? How intense was your studying? 2) I felt like L1 tested only 40% of what we read (if that). With L2 drilling deap into topics, will it only test a few topics too?
I am not touching Schweser anymore. Maybe I’m just bitter from failing but i spent more time on Schweser than CFAI books and didn’t feel prepared. At most I’ll use CFAI and some exam banks from analyst notes or finquiz.
- Sure there are people who passed only with CFAI. There are also people who pass only with Schweser. Just use the one that you like better. 2) Does this matter? Even if they only test 40% of the syllabus, you don’t know which 40% it is, so you still need to read everything,
I too have sought an answer to this query. But mine was more of schweser vs stalla and their efficacy in preparing of the exam. Most people say schweser is too brief and shallow only giving you tools to pass rather than understand. While for stalla it is too wordy and they conjure their own equations that at times tend to confuse someone. With this in mind, my strategy will be to read CFAI books from cover to cover, attempt all EOC questions and hopefully be through by begining of April. From there I shall reinforce what i already know with either schweser or satlla, whichever is cheaper.
I took Level II in June after passing Level I in Dec09. Failed, band 8, using only Stalla texts and question bank. Have started studying for level II using the CFAI texts and would say this: 1.) CFAI explains concepts in more detail and length, but this helps me get a solid grasp of the material. Stalla glazes over things, so though you’ll find ‘plug n play’ questions easy, run into a question with a twist on the concept (which CFAI is famous for on exams) and you’re in trouble. 2.) If using CFAI you gotta know what info is filler, and what you actually need. 3.) I wasnt happy with the Stalla Level II material. Used Stalla for Level I and liked it, but then Level I isn’t as deep as Level II. Keep in mind, I’m a retaker, which is why I’ll find the CFAI text easier then someone seeing the info for the first time. That being said, I Im Schewser this time around. Good luck.
I passed both L1 and L2 using CFAI only and some people did it using Schweser alone or Stalla alone. Just use the best technique for you. Now that you are at L2, you should know how you prepare for the exams already. What is good for the goose may not necessarily be good the gander.
I’m not particularly smart and I’m not using the CFA curiculum day in day out like a lot of other people, so I don’t really trust any of the guides to fully prepare me. Because I see these things primarily only when studying the CFA I get good at answering questions the way the guides are written. On test day the questions are written a lot differently. So, I find its very good to studying whatever guide you want. But that you need to reinforce it with questions from other sources, mock tests, and old tests. This has gotten me to Level 3 even though, as I said earlier, I’m not really smart at finance nor do I work in a traditional analyst job.
me.tega Wrote: ------------------------------------------------------- >Now > that you are at L2, you should know how you > prepare for the exams already. well… L2 is a much tougher dragon than L1…
I only use Schweser for L1 and still use notes for L2. Because it’s short and save time. And many of my friends pass l2 using notes only. Only use the concept checker of the Curriculum.
For what it’s worth, I passed Level II first try using CFAI and EOC questions for the majority of my study plan to solidify concepts. However, during the last month or two of prep, Schweser notes and practice exams were key in helping me review concepts and tie the information together. Schweser was a valuable review tool, but I believe I would have failed miserably if I had relied on them solely. Use CFAI, and do the EOC questions, all of them, multiple times. Just my 2 cents.
I passed level 1 on first try with Schweser. Failed level 2 band 6 with Schweser & EOC CFAI questions. This time so far is is only CFAI Text, although DANG are they LONG!
I passed L1 never opened my CFAI books (all Schweser), passed L2 and I used the CFAI books for the EOC’s (85% Schweser). Don’t let people tell you that Schweser does not cover it all they do cover it all you just have to study your ass off. My biggest bitch is between Schweser and CFAI there are not enough difficult FSA questions to cover the material. Especially Multinational Operations and SS 7 the Schweser questions on this subject were easy and for me it took doing the questions to learn it. Everyone got their ass kicked in the AM of the L2 last year for this reason. I did over 5000 questions last year and I almost walked out in the AM that is how hard the curve balls are. Get your hands on any high level FSA, Corp Fin and Equity question you can find because there is going to be 3 item sets that are set out to destroy you.
cpepin Wrote: ------------------------------------------------------- > My biggest bitch is between Schweser and CFAI > there are not enough difficult FSA questions to > cover the material. Especially Multinational > Operations and SS 7 the Schweser questions on this > subject were easy and for me it took doing the > questions to learn it. > > Everyone got their ass kicked in the AM of the L2 > last year for this reason. I did over 5000 > questions last year and I almost walked out in the > AM that is how hard the curve balls are. Get your > hands on any high level FSA, Corp Fin and Equity > question you can find because there is going to be > 3 item sets that are set out to destroy you. +1 I think for most of us normal humans out there, study time can be from any source. But you need to get a wide breadth of experience with exam level questions. I’m not sure you get that just with schweser or just with CFAI. You might want to go looking for those wherever you can find them and do them over and over again until you really master the rules and concepts. Also, don’t go home at lunch. Afternoon has proven to be a very happier experience for me in both level 1 and 2.
Wait, so you already got your new L2 material? I’m still waiting on mine to get shipped.