Hey guys ,
Just started my Leve 2 preps , thanks to all the replies to my previous post . I now havea good idea on how to start off . anyways , I was reading alot of posts and articles on people who have passed level 2 . And all of them agreed on one thing , i.e, the key to clearing level 2 is by WORKING OUT a lot of problems and questions . So my question , does anyone know any other source of questions from where I can get and workout other than EOCs .
I also read repeateadly than Qbanks offered by private companies are not really good and should not waste time doing it .
I think people were generally dissappointed by QBank this past year but I didnt have it so take info that with a grain of salt.
Between the EOCs (~10-50 problems a reading for 50+ readings) and the huge amount of material on the CFAI’s website (question sets and a full mock), you have tons of questions. I dont think there is any need to buy more questions when you have thousands from the people who are writing the test. My gut judgment is that you have at least 200-250 hours of questions from the CFAI.
Level 1 is more like a trivia test while level 2 is about comprehension. When each L1 question is a quick fact or a single step calculation, it kind of makes sense to do thousands. L2 questions lay out a bunch of info and have you make sense of it. That type of question requires understanding of many of those L1-style trivia tidbits so it isnt a one-to-one relationship when comparing them.
When you get access to your CFA online item sets in your candidate reseources on CFA website, do them over and over again. Going over these questions, which are very good resources for the exam, will refresh your memory and help you with your time management as well.
I don’t feel any third party q-bank is necessary.
After reading the CFAI textbooks, I used only the CFAI EOC/BBs, the CFAI online practice assessments by topic, and the 2015 CFAI mock exam. I thought this was a decent amount of material. If I was uncomfortable with a topic, I would make a second or third attempt on the relevant EOCs and or in text examples (BB). Third party material will always be available at an additional cost. Why not utilize the “free” and more representative material first?