Starting late and cramming everything in the last few months is a recipe for failure. CFA Institute does not endorse, promote, or warrant the accuracy or quality of the products or services offered by Kaplan Genesis.
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Blog News. Give importance to the highest weight topics In Level II, the topics with the highest weight are equity valuation and financial reporting analysis. Although this has not helped boosting my confidence. ITT: people who complained the exam was very difficult in June now saying it is easy after getting their bare minimum pass matrix.
I found it very difficult compared to level 1 which I took last dec. Had to go back and re read the vignette to solve the questions and ran out of time. Blindly filled out b and c for about 5 questions. Take some time to do at least a few mocks. Depending how you did in level 1, you should be fine with the time left. You should be fine as long as you put the time in. You also probably have a better background than the majority of candidates.
Then again, I put in about 3x the effort for L2. I also have a masters in Finance. One thing I did differently for L2 is I put a ton of time into doing practice problems rather than reading… I only read after I found weaknesses when doing problems. Is the CFA Level 2 easy? Despite being a CFA tutor for hundreds of students over thousands of hours, this is a question I have never been asked. However, it seems to me that it is lost on most people why the CFA Level 2 exam is so much more difficult.
For an answer to the question of why take the CFA Exam, check here. For example, it is expected that you thoroughly understand basic accounting, ratios, etc. The content then builds on what you should already know and dives even deeper. Other Comprehensive Income OCI , currency translation, and a more intense exploration of financial assets come into focus.
In fact, explained one-by-one to my students, the concepts are quite digestible. In addition, a more in-depth study of statistical topics such as multi-variate regression analysis adds another layer.
No wonder that this is one of the topics for which my services are frequently requested. If you have the strength and discipline to get yourself over the hump for Level 2, then beware the climb for CFA Level 3.
The CFA Level 3 exam is half short answer, and half multiple choice. The long answer section is notoriously difficult, and what often leads people to fail the exam. With multiple choice, you have a chance to at least recognize the correct answer, but with the written answers you have to know the answer. Well, it might seem evident at this point that each level of the CFA Exam is quite hard. They require a lot of discipline, focus, and patience.
You can give yourself the best possible chance by taking the advice given in this guide as well as our other informative posts on the subject. It is vital to be prepared properly and that is down to you. However, at Professional Exam Tutoring, our tutors can give you that extra edge and help you focus, to achieve the result you want.
For more help and guidance, give us a call. Free 30 Minute Consultation. Personalized Study Schedule Review. Review Practice Questions. Test Taking Tips.
Review Mult. Choice Practice Questions. Review Long-Answer Practice Questions. The first is the most obvious — if you pass, you can immediately go for CFA Level 2 the following June.
Although Level 2 is a different exam, there is some overlap in topics which will certainly help. Another timing consideration is how a December Exam date can impact the length of time required to complete all three levels.
Pushing it off to June for instance, extend the time to complete all three levels by at least a year. For example, if you took the December CFA Level 1 Exam, you could theoretically complete Level 3 assuming you pass all three the first time through by June A lot of life can happen in a single year. Why risk it? Get it done while you have the time. Lastly, consider outside temptations at different times of the year - namely, the weather! As the December exam approaches the weather tempts candidates much less than it does in the spring after a long winter.
A nice warm library is a tolerable place to be as you approach the December Exam. Our students typically take between 3 to 5 months on average. You may only need 3 months if you have a deep educational background E.
On the flip side, those with an undergraduate degree in an unrelated subject may find they need closer to 5 months or more in some cases. If you are starting from scratch consider giving yourself a 6 month head start — especially if you need to learn basic accounting and statistics two difficult and large sections. At Professional Exam Tutoring, we always advise our students to start with the highest weighted content first. We recommend that you start with the highest weighted sections for two main reasons.
First, since they are the most important, you don't want to "cram" these topics. Studying them when the pressure is low will allow for better concentration and absorption. Second, you want to make sure you hit them early so that you have the chance for repeated "touches" to the most tested material over a longer period of time.
Whether you use us or not, make sure to take a week in late February or March to review all of the topics you have covered up to that point. Do that again in early April. It's easy to get laser-focused on trying to get through all of the material as opposed to thoroughly learning it. The problem with this however is that by the time May rolls around, what you studied in January is a distant memory. A few "midterm" review weeks or even days can make a huge difference in retaining the content.
A major reason for this is that it is a significant step up from Level 1. Just from the content, you will notice that the CFA Level 2 Exam gets much deeper on every topic, and includes every subject from Level 1. Not to mention the "dreaded" written section that most people find very challenging! I have readers telling me how the curriculum seems easier to handle.
This is possible as there are fewer new topics, and in some areas, such as ethics, the concepts are mostly the same as in Level 1. Level 2 questions consist of multiple choice only, but unlike Level 1, some of these questions are related to each other. There are twenty item sets, each consists of a vignette case statement and 6 multiple choice questions. Candidates work on 10 sets in the morning for 3 hours, and 10 sets in the afternoon for another 3 hours.
The format of multiple choice questions is similar to that in Level 2, but given there are only questions to work on vs questions in Level 1, you can expect the Level 2 questions to be more complex. Source: CFA Institute. The CPA level 2 pass rate has more or less stabilized in the last 10 years. Those who can move on to Level 2 are serious about the CFA exam and should have a better knowledge on finance and investment. Having said that, the curriculum is built on your knowledge in Level 1 and therefore, the questions are supposed to be more difficult.
Results of Level 2 exam is typically released together with Level 1, that is, around 60 days after the exam date. The fastest and most convenient way is to check the score online.
Candidate ID is required. Results are kept online for a year.
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