Just Cleared L1 and would like to thank everyone at the forum for helping me and keeping me focused through great articles and questions of the week.
Now i plan to take L2 in June 2016.
I plan to Start Feb 1 and will be taking the rest of these days to order material and take care of other stuff (library card renewals/signing up with a tutor)
I do have some questions that need answering:-
1. How any hours are required in total to be aptly prepared for L2? (will be going over L1 basics again the first week)
2. Which provider in your opinion is the best? I place as much importance on video lectures as much as i do on the books.
3. Is keeping the Last Month for Mocks enough/not enough?
4. What is the best order to tackle the curriculum?
5. Is completing the material 2 times enough for L2?
Here’s my 2 cents:
1. Definitely add more for L2 compared to L1. Either start earlier or allocate more daily time for it. But there wouldn’t be an absolute number of hours that would work for everyone – just make sure you’re putting in more effort compared to L1.
2. I used Elan (now Wiley) and found them pretty good. Schweser is another very popular choice. I didn’t use video lectures though so I’m not sure which would work better.
3. I’d definitely start earlier than in the last month. Maybe 2 months out give one mock a try and see how it goes, even if you’ve not quite finished the syllabus.
4. I went by the order that was in my books. But 300 Hours also has an article about this that recommends another sequence: http://www.300hours.com/articles/what-is-the-most-effective-level-ii-cfa-exam-study-session-order#.VqiL01OLRYc
5. This is personal depending on how you study. I only ‘completed’ it once, then went to mock exams, then did ‘spot revisions’, which worked for me.
1. I put in about the same time, but my experience shows it’s NOT about how many hours but how well you understand the material. Someone posted a comment here that says CFA lv 1 is a mile wide but 2 feet deep, whereas lv 2 is a mile deep but 2 feet wide. That’s so true.
2. I used exclusively the Kaplan Schweser material and completed 80% of the question bank — didn’t even open the official books.
3. I did the six mocks from Kaplan and analyzed my mistakes and try to review those sections again. Then I did the official mocks which aren’t as helpful in my view.
4. Search on this forum and there’s a recommended order. Always save ethics for the last.
5. I went over everything once but focused more on why I made the mistake. Again, understanding is real important.
The time series material in Lv2 will be difficult for you if you aren’t familiar with it. Fortunately my MFE degreed helped a lot on that.
These are great questions. I think others hit on good answers.
You can check out our instructor Mike Carmody’s recommendation on how Level II is different from Level I:
Here’s my input on your answers
1. This depends on your knowledge. If you have relevant job experience or education background, 120 hours could be just fine for L2. If its all new to you, then more than double that. Really what will save you time is making a disciplined study schedule and sticking to it. Also having an efficient process (like we have in our Learn product) can save many hours of ineffective studying.
2. AdaptPrep 😉
3. You should be doing practice questions throughout. A month is probably sufficient to run through mocks.
4. We recommend the regular order except put Ethics last. You’re more likely to retain things like quantitative methods, which require a process to solve questions, compared to Ethics which really is a lot of memorization.
5. I’m a one and done type of person so I’m not sure.
Your’e going to do great!
@PaulAdaptPrep Thanks for your valued advice. I have begun my routine and am trying to stick to it the best i can.
I would also like to thank you for your “in “x” minute series” for level 1. i was pretty nervous the night before the exam and watching the videos really helped me in calming myself as i realized i had most if not all of what the institute was asking from me to know.
Would be looking forward to them this year as well minus the nervous bit 😉
Great Job !!
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