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300Hours: Finance Certifications Hub for CFA, FRM & CAIA

how to prepare and pass CFA Level 2

CFA Level 2: How To Prepare & Pass CFA In 18 Months

Sophie Macon

24 Feb 2026

CFA, CFA Level 2

CFA Level 2 essentials: Study hours: 350+ (vs 300 for L1) Pass rate: 39% (lower than L1's 43%) Format: Vignettes (case studies with 4-6 questions each) Time: 18 minutes per vignette Key difference from L1: Tests application, not recognition. Vignette format requires new strategy—skim questions first, then read case. Critical mistakes: Using same study approach as L1, underestimating reading time, skipping topics (all 10 can be weighted equally at 10%). Timeline: 4-6 months, final 5-6 weeks for practice exams only. CFA Level 2 fails more candidates than Level ...