Can anyone comment on the direct application of concepts/formulas from L1 to the L2 test? The reading topics for L2 seem to focus on more specific issues compared to L1, as do the practice questions that I’ve reviewed thus far.
So, how independent is the L2 test from L1? I understand that you need the base knowledge of L1 to fully grasp the concepts of L2, but are the questions specifically geared towards L2 information only? Just trying to gauge how much L1 review, if any, would be appropriate to pass L2.
L2 is ‘independent’ from L1 in the sense that they won’t be asking questions directly taken from the L1 CFA Institute curriculum. However, L2 curriculum assumes (correctly) you’ve completed and passed L1, so calculations and concepts assume knowledge of L1 material.
For review of L1 in preparation for L2, usually secret sauce / 11th hour books are enough. Sometimes providers also include a ‘quick recap’ book in their materials for this purpose.