CFA CFA Level 2 Time issues

Time issues

  • This topic has 7 replies, 4 voices, and was last updated Oct-17 by edulima.
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    • ynag12
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      Hello, I’m new here but needed some advice from anyone who has any on this issue. To give you an idea of where I’m at: On a combination of Elan, CFAI, and Schweser mocks (5 total so far) I’m scoring on average in the high 60’s with one outlier on an AM section of the CFA 2012 mock of 80%. My worst exam was a 60% on the AM section of Elan 2 AM test.

      Clearly I’m a very border line pass/fail, I think. My issue is that I run out of time almost every single exam. I end up making stupid mistakes cause I know I’m like 15 minutes back and/or I’m just out of time at the end and fill in circles just to have an answer. I know if I solve this I can go above a 70% consistently because just about all my mistakes come from dumb errors due to rushing. There has been very few questions I actually got wrong because I didn’t understand the subject. Most of the time when I review the exam I’m astonished that I got a problem wrong because I can easily answer it at the moment without looking at how it is solved or what the answer is. For example, I know for a fact I can calculate the variance of a market portfolio, yet when I have 3 minutes left in exam, I am rushed and get it wrong.

      Has anyone else encountered this issue? Is there anything I can do this last week to fix it? I keep doing practice problems, it’s pretty much all I’m doing now but it doesn’t seem to help increase my pace. I was hoping someone had some kind of trick or method to stay on a good pace…thanks

    • Sophie Macon
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      Hi @ynag12 – are you doing the mocks under timed conditions? It’s the only way to train for time discipline in the exams. I allow myself 3 min max per question, and if times up, I choose the best answer (for now), circle the question and come back to it later. That’s the only way to assure that I’ve got time for everything.

    • edulima
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      Agree with @Sophie. @ynag12, the only way to get over this problem is to discipline yourself NOT to go over 18 minutes per problem set. Be strategic about it; given a problem set, identify the easier questions within it and tackle those first, keeping an eye on the watch. If time is up, move on. It is a big mistake to cede to the temptation and to keep trying to solve a problem that for some reason you can’t get to one of the answers. If you have time, you can come back to it at the end of the exam. If not, at least you had a decent stab in all other questions and did not put yourself in a hole. Try practicing this if you have any mocks left this week.

    • ynag12
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      Thanks for the response. I’m taking one more timed mock on Wednesday and I’ll see how it goes. One other thing, I know that in 2012 (the last time I took L2) there were online quizzes that we’re available on the CFA website in addition to the mock exam. They were available for $40. Are they still doing that? I can’t seem to locate them.

    • FitMBA
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      Hi @ynag12‌ I’m in the same boat as you re time mgmt. Thank you so much @Sophie‌ and @edulima‌ for the tips – sincerely appreciate it!

    • ynag12
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      Just finished the 2013 am CFAI mock. Took your advice and just moved on at 18 minutes and took a best guess. I scored pretty well (77% vs my avg of 66%) although I was certain I failed before grading it. So it worked….I think? I guess we’ll see Saturday. Thanks again and good luck to anyone reading and sitting for exam Saturday

    • Sophie Macon
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      Woohoo nice one @ynag12‌ – keep it up for Sat!

    • edulima
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      Very cool, @ynag12. It’s amazing how this works. Although it feels weird to let go some questions that we KNOW we can answer but can’t because of the time, at the end it pays off. It has happened with me again and again… I guess the other lesson is not to let this weird feeling get you demotivated during the exam… just keep plowing! Good luck to everyone on Saturday!!!

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