Taking Level II as an Undergrad: Possible?

CFA Level II
#1

Just heard back that I passed Level 1 in December. Was wondering if it would be possible to take Level 2 in June. I know you need to have qualified work experience, but was wondering if relevant internships would get me past that…

  • 30 weeks of FT FO/BO internships at a few banks [paid]

  • random finance internships freshman year [unpaid]

I’m graduating in May. Employer I accepted with would definitely pay if I took it in June 2015, but I’m looking to enhance my edge and feel guilty wasting so much time. What do you think?

EDIT: They went with it! Taking it in June 2014.

#2

I’m pretty sure you can’t register for L2 until you’ve received a bachelors degree.

#3

CFAI:

" you may not register for the Level II exam until you have earned your degree , or obtained professional work experience that meets the program’s entrance requirements."

Professional work experience requirements:

  • or have four years of professional work experience (does not have to be investment related)
  • or have a combination of professional work and college experience that totals at least four years. Part-time positions do not qualify , and the four-year total must be accrued prior to enrollment.

My question is can I count the times I worked full-time (so 3 full-time summers in college), and combine them with my 3.5 year college total to reach the >4 year requirement?

#4

You should give the CFAI a ring and see what they say.

#5

I don’t think you CFAI will allow you to register for Level 2. They are pretty clear about it. Still no harm in trying to convince them. You might get lucky!

#6

I’ve called twice before…the responders were understandably skeptical about my question since I hadn’t passed Level I before, but one said it might be possible, and the other said no…I’ll try again

The next step for this would be to submit my work experience, but I heard that could take a while to approve.

#7

For reference: they gave me an exemption. Here we go!

#8

You didn’t mention what you’re taking in Undergrad. I wrote level 1 just after graduating. Had four of the hardest courses in Econ for my last term and it was tremendously difficult. Level 2 undoubtedly will take more study time because most of the topics are going to be new to you (unlike in level 1). God speed young man.

#9

Thanks! I’m a double major in finance and econ, minor in math. This semester shouldn’t be the hardest, getting elective requirements out of the way.

#10

hey i too am graduating in may…but i have 2.5 years of work experience…can i sit for l2?

plus how much time does it take for them to approve my work experience?

#11

Fill out your work experience under your profile, make sure to specify what you were doing at those jobs (I basically took my resume points), and if you did full-time work, say how many weeks, hours per week, etc.

Then send a detailed email to cmservices@cfainstitute.org explaining your situation. Make sure to say when you’re graduating. They replied to me within 24 hours.