I read all of Schweser, did the 3 practice exams + CFAI free mock exam. Then used CFAI textbooks and Schweser to review the areas I did weakest on between each practice exam. I’m currently taking an entrepreneurship class in business school and exploring the feasibility of new question bank software that offers more detailed results analysis with specific study recommendations and mobility options. If you have taken or plan to take the CFA exams, please help me out with a quick 12-question survey, or please pass this on to someone you know who is taking the CFA exams. http://www.kwiksurveys.com/online-survey.php?surveyID=KCOEKK_8cab7003 Thanks! Trevor Connon
I used Schweser qbank exclusively, always in ‘mock test’ format. I did this in about 1 month and in about 100 hours. I think it was an efficient method, and with another 100 hours would have given a very comfortable margin of passing. I passed L1 last December. I am also taking actuarial exams right now, so I didn’t have a lot of time to study. I also had to take some vacations in the spring that cut into my study time (family first, dog). So I finally began preparing for L2 on May 2nd. I did a bunch of qbank questions. I didn’t do any ethics questions. I know a lot of people say that’s where you should focus, but I disagree. I think it takes way to long and the payoff isn’t that great. My worst L2 score was a <50, in ethics. I focused on equity and FSA. I think I got 50<>70 on both those sections. In total I did about 60% of the qbank, and maybe 75% of assets and FSA. Toward the end I was getting about 80% (+/-) correct on my mock qbank quizzes. My final average, including the early 50-60% scores, was around 70-72%. My technique was to do about 60-120, sometimes 180 a day. If I didn’t understand something I would spend time reviewing it after my mock qbank test. Some of the problems I would print out ant review later if they were especially troublesome. I printed out maybe 60 or so questions and it was a good review at the end. I also used Secret Sauce for explanations. I did not spend more than an hour or so with the CFAI materials. I listened to the MP3 recordings of Schweser, that was good when I was unable to do problems. I did 1.5 practice exams (3 x 180 minute sessions) and scored 72 (after 2 weeks of qbank) and then 78 and 92 toward the very end. I would estimate the total time at 2500 questions * 1.75 minutes per question = 4375 minutes + 3 practice exams and review @ 180m each = 540 minutes, or a total of about 5000 minutes, or 83 hours. But I’m sure to be leaving something out, so it’s likely closer to 100 hours. I did not pass by much…anyways, it’s a pass, and that’s how I did it.
team_alex Wrote: ------------------------------------------------------- > I did every single question I could. QBank, EOC & > Mocks. > > Learn the curriculum, but the key is being > flexible and agile with the tools you’re given. > Reading comprehension and the ability to pick out > twists and tricks are also factors that separate > failure from success. This.
schweser books/concept checkers as first pass, read those before BSAS class weekly class used Qbank a lot at night in front of the tv just to keep stuff fresh took john harris accounting class watched schweser online class for harder/heavier weighted subjects took stalla mock exam review course BSAS boot camp (sucked) schweser 3 day review (one of the better classes ive taken) CFAI EOC a few times all the way through schweser mocks CFAI mocks and practice exams schweser secret sauce whenever i had down time 4 key takeaways from both lvl 2 and lvl 1 1) schweser is good for laying a base but needs to be supplemented with cfai eoc 2) classes work for me…taking weekly courses keep me on track and offer a good first pass at material, review courses at the end can be good and bad but hearing the material out loud really helps me retain it 3) questions are key…i did as many questions as i could handle…bsas qbank, schweser qbank, bsas class questions, cfai eoc, schweser concept checkers, cfai mocks, schweser mocks…doing questions over and over again is how i passed both 1 and 2 4) finally, i wouldnt leave a topic completely after i finished it, if i first covered accounting in january i wouldn’t abandon it until my final review, i would build on what i had already covered and review everything as i went along, so once i covered accounting, i was looking at accounting questions at least once or twice a week every week, kept everything fresh throughout the 5 months or so that i studied…
i used peter olintoooooooooooooooooooooooo, i mean stalla.
i failed last year and passed this year. if i could go back to my former self having just passed level I, the most important lesson is not to underesitmate the jump in level of difficulty from level I to level II. So, grasshopper, i tell you now: Respect this exam.
I do all the EOC questions, Qbank 09 until done and Qbank 2010. Started early finished studying by the end of april and then mainly questions from passpapers or Qbank. i did not do the Schweser pract questions.
Importantly!!! On exam day if you know you had prepared properly dont get turned down when you see a question you cant handle. just move on and if you see another one just move on and then come abck. Dont waste 15-20 minutes trying to fugure it out. As there may be easy questions you will be forced to rush in the end. Confidence and lady luck is Key
Passed on first try after passing L1 in Dec09. Id recommend to start early more than anything. Whichever material you read (depending on available time and previous knowledge) id recommend to stick to CFAI for ethics and detailed questions on unclear topics. Id also recommend to do CFAI EOCs for each chapter and revisit weak points after that. Start pract. exams early so you can review thorougly after each one and try to plan to have some spare time at the end of the whole session the weeks before the exam. Youll always find more things to review and you dont want to burn out right before the exam but rather be comfortable with the time available. Maybe another helpful piece of information: I didnt do to well on some of the pract. tests, so dont worry if that happens, just make sure to learn from your mistakes.
PASS with >70 in all topics except PM, Eco, Ethics. I started prepration in March, got some personal problems in April so half of April was lost too. Frankly speaking I was quite afraid throughout my preparation, by April end I was close to leaving the fight and extending my exam date to next year. My advice will be suitable to people who have no time or very little time to study. What I used? I used Schweser Video CDs + Schweser Notes! That’s it. Never ever touched CFAI books. Advice for preparation: First of all, set your target to score as much as you can. Here is what I planned and did. Equity – It’s by far the most important topic. It’s easiest of all (If you prepared Level 1 well) and It’s most important of all. If you are not preparing Equity well, then you are doing a blunder. I gave it sufficient time and I nailed it nearly 100% in Exam. Give it sufficient time and highest priority. FSA – This was my strong topic too because I gave lot of time to FSA in Level 1. This is one of most challenging (less then derivatives), but it’s fun and you don’t need to memorize much in it, it’s so logical. Understand the logic and it will become one of the easiest. NEVER try to memorize any logic, memorizing will get you confused at end. Give it sufficient time and highest priority. FI – Again, very logical topic, once you get the logic clearly, it will become so easy. Give it decent time. Quant – I have Electronics Engineering background and I am a Quant, so I already knew everything in material very well, this was again nearly 100% :). Give it decent time because it’s scoring. Derivatives – This is by far most challenging (and most interesting) of all, I gave lot of time to it. I read lot of topics on internet after reading them in schweser, but I won’t advice that to anyone if you are left with very less time. I did it because it’s most relevant to me. Eco – Didn’t even read it properly, just watched some video lectures and my friend taught me important concepts. It’s easy but it’s boring. PM – This is also challenging and it should be on lowest priority. Corp Fin: BOGUS, just put it on lowest priority. Alternative Investments: It’s interesting and there’s lot to study in it. It sucks to see that it’s weight in exam is so low. So put it on moderate priority because this one is scoring. Ethics: You have to do it. It sucks but you have to give it decent time. So, if you want to score most in limited time, here’s the priority list according to me. Equity > FI > FSA > Quant > Ethics > AI > Eco > PM > Corp Fin. But if you have time, It is advisable to do each topic thoroughly from CFAI :). What I learned with whole experience is that, NEVER ever try to memorize. Good thing about level 2 is that most of the concepts are logical, just stay focused while studying and you’ll get the logic easily. Last but not the least, I love Schweser Video CDS :), in fact it would have been nearly impossible for me to clear level 2 without them. Thanks to Schweser Best of luck to everyone!
Passed and I did: CFAI text + EOC Schweser Notes Schweser Videos Classes Schweser Practice Exam book Schweser Qbank CFA Mock I personally found the Video to be a live saver as it accelerate learning.
Posted this in another topic… Whatever route you decide, definitely… definitely purchase the Stalla Videos. IMO, they are priceless. There is nothing like reading a topic and questioning if it was written in a foreign language. In most cases, instructor lead videos/classes ensure you will at least get your head around the core concepts of each reading.
Schweser books and videos all the way. I didnt even bother to open CFAI.
schweser books, eocs, and as many practice exams as you can fit in, mocks etc
CFA texts, EOC questions, & 2000 questions from Finquiz’s database.
I used both Schweser and CFAI books. The EOC were key for me. I did not use QBank, the Schweser questions or even the mock exam.
thanks for all ur advice:)
CFA Texbooks in 2009, Schweser study notes in 2010 + Schweser tests and official materials!!
Read, practice on Schweser QBank, read again, mock exams, review mock exams, repeat, memorize equations, read again, cool down with notecards and secret sauce.
Passed with >70% on all topics accept for ethics. I used CFAI text books and EOC - tried to learn material rather than memorize stuff. Only used Schweser for practice tests scoring on average about 65%. Thought Schweser tests were good practice in addition to CFAI mock exams and sample tests.