CFA Eligibility

Strictly speaking, you need to have completed your studies by L2. Practically speaking, I’m not sure. They don’t seem to check in practice. Otherwise, just wait a year for L2 – no harm done!

If and only if you have been awarded the degree, then can you take L2 in 2016

This is the exact same situation that I found myself in Jill. I passed the December 2013 CFA level 1 and expected to roll right into level 2. I talked to the CFAI numerous times. They are only able to waive the education requirement if you have the relevant work experience. I believe you would need to have 2 years of relevant financial experience (which is unlikely for a soon-to-be college graduate). I heard of scenarios where a letter from the school may tell the CFAI that you have passed all required classes. My sob story was that I was doing my capstone course and had not finished it and my school’s graduate office would not send a letter to the CFAI. I talked to the head of the finance department and he sent both the CFAI and the graduate office letters trying to get me in and it didn’t work out. 

So my advice is to knock out level 1. Then take a breather. Enjoy your final semester, maybe work on developing your professional skills and then just be ready for when level 2 hits, b/c it will be significantly more difficult and that’s not even including the balancing act you will have to do at work.