I only used Schweser books (not sure if thats the same thing as notes?) to study L1. I did CFAI EOF questions. I did two CFA mocks, or whatever the free ones they gave. And I bought Schweser secret sauce. i also did a two day full weekend review with CFA program, via a third party in Australia. I studied for four months to pass. I plan to do the same thing for L2, but read Blue boxes in curriculum, spend more time on reading books - perhaps double. And, if I can, get more mock exams. I have heard Schweser Qbank not very good. but, I presume that isn’t mock?
I’ve used both Schweser and Wiley, though at different levels but here’s my take.
I passed lvl 1 using Schweser, however I have to admit there were videos on particular topics where they do not explain enough for you to take the exam at all. My saving grace was the qbank and the mocks. Those are solid on Schweser. But I was worried about the gaps going into the exam.
I just passed lvl 2 this month using Wiley and curriculum. What I did was read the curriculum once thru, watch the Wiley videos & read their notes, then go back to the curriculum to skim for missing info (I must say there wasn’t a lot). The way they explain the material is super detailed, super clear. I dare say I felt I understand ALMOST EVERY TOPIC going into the exam. I wasn’t so sure about their version of qbank, but then I have a feeling that no one’s “qbank” equivalent will give you item sets. The mocks are great. They are on par in terms of difficulty with the exam, or maybe a teeny bit harder, I can’t remember exactly. I’d definitely go with Wiley.
What I said above is simply my personal experience. I’m affiliated with neither of these companies.
Honestly if you put in the effort with either Wiley or Schweser you’ll pass! Not forgetting BB, EOC, topic tests, mocks etc…
I used Wiley for L1. I really liked their books and thought their mocks were okay. I hated their online platform which had issues (the Wiley site looks great but the internals aren’t as polished as the skin), their Qbank was worthless (questions wrong & missing parts) and their track record of releasing stuff late sucks & is really frustrating.
I’m still deciding what to do for L2. It will pretty much come down to cost I think. I only want the books, some mocks and maybe a review book (secret sauce/11th hour guide). I personally won’t be using a Qbank or videos.
Schweser is $379 for books & 3 practice exams. Wiley is $225 for books & $95 for two practice exams. They’re pretty much on par I’d say. Although if you sign up with Wiley now for notification on when their books are available you’ll get 15% off. Schweser will only give you 10% off if you get their PremiumPlus ($1499) or Premium ($1099) packages. Looks like I’ve just sold myself & will probs go Wiley for books & Schweser for practice exams… maybe
Wiley’s study notes and many video lessons are very good. The weekly online lessons Bill (S2000Magician) did in 2016 were also a nice addition, although I used them more for review and a deeper understanding in some subjects than learning for the first time. You can also download the slides for each lesson which make for nice review notes towards the end. I will also note that Wiley’s study notes and accompanying video lesson on Pension Accounting is invaluable. Maybe it was just me and the way I learn, but the way Basit approaches the Pensions reading is superior to everything I’ve seen, including straight from the curriculum.
For practice/mock exams though, I highly recommend including Schweser and buying them ala carte if you don’t buy a study package that includes them (one or both of the practice exam volumes and definitely the full online mock). As of 2016, Wiley was still struggling with content quality and delivery issues with their mock exams. A couple of their mocks included old questions on topics that were fully removed from the 2016 curriculum which is pretty inexcusable to be honest. Their online software used to take the exams and for exam review and performance reporting is still inferior to Schweser as well. They need to do better here in my opinion.
Bottom line, both study providers offer great solutions and both have their strengths and weaknesses. You have to do your best to decide which seems to best fit your personal situation and how you learn.
I just checked the Wiley site and turns out that their printed books and videos will be available by october. Am I the only one who thinks thats pretty late?
I used Finquiz for my preparation along with CFAI EOC and Blue Boxes. For each reading, I read Finquiz notes and I do EOC/Blue Boxes questions in the books. When I don’t understand a questions/answer, I complete the info in the CFAI books. Also, Finquiz package have a lot of very very good item-set questions to practice AND they provide 6 complete AM/PM mock exams.
I though Finquiz material coverage was excellent and the practice Q/mock helped me a lot, they were right on point. I’ll be using the same strategy for level 3 and will start in January.
Thank you for the congrats, and thanks for all the hard work you put into the product over the years.