CFA CFA General Level 2… Ready, Set,….GO?

Level 2… Ready, Set,….GO?

  • This topic has 10 replies, 6 voices, and was last updated Aug-17 by Zee Tan.
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    • toeknee9121
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      I am anxiously awaiting my L1 results, which will be announced on the 28th. Since the exam, I have been taking it easy, seeing friends again, and getting my marriage back 😉

      However…. I do feel as though I am behind the curve here. I know many folks have already begun to study for L2. After all, it is the hardest exam and I am time constrained as the exam in is ~4.5 months. Any suggestions our there or anyone out there in the same boat? What are you doing to cope with this?

      For the first exam I began to study 7 months out and finished with ~410 hours under my belt. Granted, those first 2-3 months had a big learning curve in terms of ways to effectively study, hit hours, work/life/study balance, etc. Again, I am worried that 4.5 months might not be enough considering the fact that this is the hardest exam. Should I wait it out and try next year? I’d prefer not to but if the odds are against me why waste the money?

    • edulima
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      Don’t wait, start. Especially if you can bet on a “pass” with at least a 20% probability of being right. That’s what I did. Given my personal circumstances (juggling too many things at once, including family, work and school), I had to start back in December; but then again my pace will never be so strong that I can catch up quickly.

      Good luck on the 28th!!!

    • Zee Tan
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      @toeknee9121 L2 is definitely not to be messed around with. I really don’t know about the timing since I didn’t do Dec, but @sophie did and she advises not to worry about it too much and wait for your results, but definitely hit the books hard and long after you know you’re in for L2.

      I’ll let @sophie chip in on this…

    • Sophie Macon
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      @toeknee9121 @edulima – this is a hard one, but I took a stance and wrote about it in this article.

      Now that we’re so close to actual results day for Dec Level 1 it may not matter too much.

      I chose to rest and enjoy myself fully without worrying about it until results day. If I had started right back at December, I would have:
      1) not have a full rest,
      2) nor have maximum absorption of material, since either I’m distracted by the festivities or just general lack in motivation post the exam, plus the uncertainty whether I’d have pass on results day (hence wasting my efforts) – so I felt I’d never study 100% here even if I started studying for L2 before Dec results are out for Level 1.

      So I rested till I got my results. I ordered my books IMMEDIATELY (the same day) I found out my L1 results, but I already knew which books I’m getting, and my study plan is already all planned/set out. Level 2 as you may know is a whole different beast, just because of the sheer amount of material. But the good thing is it’s conquerable, and more calculation focused still.

      So I just blocked out Feb-June and became a hermit, clocking more than 300 hours, and passed L2. That’s why I wrote that blog post. It was tiring, and I was exhausted at the end of it, but I don’t think I could have done it without a rest in between – and by that I meant complete switch off. The worse thing you would do to yourself is not resting, and spending time worrying about what ifs etc.

      But it sounds like @toeknee9121 you got a good rest without much worry, so I’m glad. And with just a week to go, what would be constructive is to decide your study material providers (if not using CFAI), have a look at a sensible study plan, and cross your fingers when results are out.

      There’s different views to this matter, but as long as it works for you then it’s all right 🙂

    • gavinloudfoot
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      @sophie what books did you order for Level II after finding out your level I pass? I have been told that CFAI material is essential for level II but considering us Dec 13 sitters only have 4 months, is it a better strategy going for a more condensed version from a materials provider?

    • Zee Tan
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      @gavinloudfoot I wouldn’t say CFAI material is ‘essential’. I didn’t use it for L2 and I did fine. The important thing is to know when CFAI isn’t working out – whichever method you’re using for study notes, if you find that your speed of working through the material isn’t going to give you enough time to practice mock exams, then it’s an unfeasible method.

      I found my speed very slow with CFAI materials…but that doesn’t mean it will be the same for you. Another one of my CFA charterholder friends used CFAI all the way because it suited him better.

      But in general, yes, people find condensed versions easier to digest and faster to work through.

    • Sophie Macon
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      @gavinloudfoot – it depends on your personal study style.

      For me, my brain melts down with too many words, hence I used third party provider’s material throughout Level 1-3 as I work better with concise explanation (and if I don’t get it I’ll discover it in practice papers and will revise in the last month). So, for me, the main reason for choosing 3rd party material was due to personal study style, rather than saving time per se, though that does help for Level 2.

      Wholeheartedly agree with @zee though, it’s preferable that you have 100% coverage of material (though say 80% understanding), than 80% coverage of material (with 100% understanding) – so whichever study material you choose, make sure your study plan works out (i.e. you finish revision in 3 months) and you give yourself 1 full month in May to focus on practice questions and final revision.

    • peekabooitsme
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      Hi – I wrote level 1 in December and in a similar situation as @toeknee9121 on just waiting for result. I remember reading that there will be a level 2 offering in December (for the 1st time). I am hoping that’s the case.

      Can someone please comment or provide an update on this?

      Thanks.

    • toeknee9121
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      @edulima @sophie @zee Thank you for the timely reply and for the great info! You guys are lifesavers. I reached out to a few of my CFA holding pals and they confirmed the idea of enjoying my last few days of freedom prior to taking the deep dive into L2.

    • peekabooitsme
      Participant
    • Zee Tan
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      @peekabooitsme – haha I didn’t realise NYSSA also wrote about it. Thanks for the heads up!

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