Signup deadline: Is two months enough to pass?

I need everyone’s input. General gist is that I’m trying to decide if I should sign up for the CFA June 2012 Level 2 test. I’ll list some background and considerations and please tell me what you think. Also, please include something about your background (CFA levels taken etc). Please limit the heresay and just stick to your direct personal experiences.

Unfortunately, I was ready to signup for the L2 in December, but I started a challenging new job and between long work hours and regulatory tests, I had already given up on the idea of the CFA June 2012 test date. Now it looks like I get a bit of a lull. Still working 12-14 hours/day on the weekdays, but my weekends can be free (at least for the next two months). I think I can spend 2hrs/weeknight and 20hrs/weekend or 25-30 hours per week for 8 weeks. This puts me at 200-240 hours.

* Economics background, some accounting class. Sadly, a lot of the level 2 material is generally familiar from work or school but it’s a WHOLE DIFFERENT story to see the same material on an exam.

* my experience: Hedge fund quantitative programmer, analyst, trader, portfolio manager.

* CFA is not useful for my current job but I do want to get back into equity fundamental investing.

*Passed Level 1 with low marks after two months of study time and full time work. Just read through the CFA books.

*I previously failed the level 2 exam studying starting in March, but I was distracted but issues that won’t exist this time around. Also, I think I was at a major disadvantage by only reading the CFA books, but not using the Schweser study materials and question bank. Unfortunately, that was a few years ago. I waited this long to think about it again because it was a bad experience and because my career took me in a direction where most co-workers didn’t have a CFA.

*I’m not a dummy, but I’m not an extraordinary studying machine either.

*I know some people will say it doesn’t hurt to just give it a try, but there is that soul crushing feeling when you spend your hours studying (even if you’ve understudied) and end up failing. The money factor is a lot less problematic.

*Why the rush? A year is a long time to wait and I’m starting a family sooner than later so the time committment becomes harder in the future, not easier…

Please share your thoughts.

I would not risk if it were me. You took L2 before, but as you said , years ago. L2 is a much bigger dragon than L1

The frustrating thing is that most of the material outside of the CFA ethics and CMO/bond stuff is material I’m come across or actually worked on. So it’s very tempting to give it a go, especially since I think it is a MAJOR advantage to use some sort of third party study guide and question bank. But I really do HATE the feeling of failing a test that I’ve invested significant time in and I could use that same 200-240 hours with a higher conversion rate towards work.

Well, I can say like iteracom, I would not do it if I were in your situation.

I would just be setting myself up for failiure. I mean, yeah there is a chance of passing with that much time, but really?? Instead of slamming myself with study time and growing grey hairs, I wouldn’t pack that much stress into 2 months.

Anyway you go, I’m behind your decision and wish you the best!! Good Luck!