CFA CFA Level 2 Topic Weights in CFA Level II

Topic Weights in CFA Level II

  • This topic has 13 replies, 4 voices, and was last updated Apr-17 by vincentt.
  • Author
    Posts
    • MockTurtle
      Participant
      Up
      1
      Down

      I’ve been going through the topic weight ranges provided by the CFA Institute for the Level II exam and working out how many item sets they would equate to, counting both morning and afternoon sessions. For example, Ethics is fixed at 10%, so that means a total of 2 items sets out of 20. For FRA it is 15-25%, which is 3 to 5 item sets out of 20. Equity Investments is supposed to be 20-30%, so that ought to be 4 to 6 item sets, but the CFAI mock exam has only 3 item sets total for this topic (going by the front sheet of the mock exam). I would have thought there should be at least 4 item sets for Equity, given that this same mock exam has 4 item sets for FRA. What do you think? Maybe there are questions relating to Equity, but coming in an item set for a different topic (e.g. Alt Investments)? I haven’t actually looked at the exam questions, I’m saving that for when I’m ready to take the test!

    • christine
      Participant
      Up
      0
      Down

      Hi @shantala – welcome to the forum!

      Another point of reference is the exam results breakdown, i.e. the results email you get when CFA Institute announces the results. That break down is as follows:

      Topic Points Percentage
      Alternative Investments (18) 18 5%
      Corporate Finance (36) 36 10%
      Derivatives (36) 36 10%
      Economics (18) 18 5%
      Equity Investments (72) 72 20%
      Ethical & Professional Standards (36) 36 10%
      Financial Reporting & Analysis (72) 72 20%
      Fixed Income Investments (36) 36 10%
      Portfolio Management (18) 18 5%
      Quantitative Methods (18) 18 5%
      Total 360 100%

      In terms of thinking about item sets, it’s less straightforward than that. As the item sets allow more in-depth questions compared to Level 1, you’re right in suspecting that item sets mix several topics into one question, combining concepts learned across the curriculum. It’s not a simple task of saying ‘topic X will have Y question sets’ for some topics, although for others (Ethics, for example) you normally can rely on for a set number of item sets to appear in the exam.

      Hope that helps. You can also find more analysis information about Level 2 topics here: http://www.300hours.com/1/post/2012/08/analyzing-passfail-differences-in-level-ii-2012.html

    • MockTurtle
      Participant
      Up
      2
      Down

      Thanks @christine, that was quite informative. I didn’t know until this minute that each question gets 3 points!

    • vincentt
      Participant
      Up
      3
      Down

      Hi @christine thanks for the % weighting table, are you saying that there’s a possibility that each item set could have questions from different topic (e.g. derivatives vs fixed income, etc) ?

      I remember reading it somewhere that it’s usually quite down to per reading basis for each item set?

    • christine
      Participant
      Up
      4
      Down

      No problem @shantala!


      @vincentt
      item sets definitely cross topics. There will be a ‘main theme’, but you’ll definitely see questions that use concepts from other topics. I’d be interested to see which source that states a per-reading basis for each item set.

    • vincentt
      Participant
      Up
      3
      Down

      @christine I couldn’t recall where I read that but it could have been my mistake.

      thanks for the info!

    • Sarah
      Participant
      Up
      1
      Down

      @christine and @vincentt I just worked through the 2012 mock exam (CFAI issued) and I found that the mini-case was topic focused.

      And on the 2013 exam it gives a breakdown of question by topic.

    • vincentt
      Participant
      Up
      1
      Down

      @diya did you mean, each item set is per topic basis?

    • Sarah
      Participant
      Up
      1
      Down

      @vincentt yes, that is what I meant.

    • christine
      Participant
      Up
      2
      Down

      @diya I’m surprised. Usually out of 6 questions, 1 or 2 questions would incorporate some aspects from other topics, especially if they naturally overlap.

    • vincentt
      Participant
      Up
      2
      Down

      @diya good to know, thanks for the heads up. Btw, where did you get the 2012 CFAI mock? As far as I’m aware the 2013 mock isn’t out yet?

    • MockTurtle
      Participant
      Up
      5
      Down

      @vincentt, the 2013 Level 2 mock exam is available for download from CFAI website. I would actually be interested in seeing the 2012 mock exam too, except that I think you’re not supposed to pass it around for any purpose, so don’t want to get into trouble for that!

    • Sarah
      Participant
      Up
      5
      Down

      @vincentt….
      the 2013 mock in on their website. I just downloaded it yesterday so maybe it was put up recently.

    • vincentt
      Participant
      Up
      2
      Down

      @diya for the dec 2012 I think they did send out an email informing about the mock, didn’t get any this year. Thanks will download that shortly! 😀

Viewing 13 reply threads
  • You must be logged in to reply to this topic.