How to Pass the CFA Level 2 Exam
Congratulations on passing level one. However, a lot of people get through level one based on their undergrad classes. As you will see, level two is a completely different test.
Other People Are Reading
Instructions
-
-
1
START STUDYING EARLY. As you get closer to the test, you will uncover multiple topics that you don't know well enough. Starting early will give you enough time to review the curriculum several times.
-
2
BUY 3RD PARTY STUDY NOTES, SUCH AS SCHWESER OR STALLA. Although 3rd party study guides aren't quite as useful as they are for level one, they will still save you time. The material from the CFAI is often confusing cumbersome to read and 3rd parties do a good job at getting to the point.
-
-
3
COMPLETE ALL OF THE END-OF-CHAPTER QUESTIONS IN THE OFFICIAL TEXT. These questions are the closest you'll get to real-life exam questions. They're extremely important to fully understanding the curriculum.
-
4
JOIN ANALYSTFORUM.COM. This is a message board specifically for CFA candidates and charterholders. In my opinion, the site is almost as valuable as the curriculum to passing the exam. *Note: analystforum.com should not be considered a substitute for studying the curriculum.
-
5
DON'T GIVE TOO MUCH WEIGHT TO YOUR PRACTICE EXAM SCORES. Even after scoring very well on the practice exams, many people still fail the real exam. Use these exams as (1) a gauge for time management and (2) a tool to help identify weak areas.
-
6
PAY ATTENTION TO THE TOPIC WEIGHTINGS. CFAI gives you estimated weightings for each topic. If you're tight on time, don't waste time reviewing a topic that is only 5% of the test.
-
7
BE READY TO BE TESTED ON SMALL TOPICS. Just because a topic is only given one paragraph in the curriculum doesn't mean it won't show up on the test. The opposite is true, also - just because a topic is given 50 pages doesn't mean that it will definitely be tested. Be ready for anything. If you're tight on time, review several "small" topics rather than one "big" topic.
-
1
Tips & Warnings
Adjust your studying of a topic to the weight it is given in the exam. For example, if derivatives is 5% of the exam, try to spend 5% of your time studying derivatives.
Don't ignore ethics. The majority of the text is the same as level one. However, the exam questions are much more specific and trickier.
Be sure to eat properly and exercise. When you're working 50-70 hours each week and then studying an additional 10-20, it's easy to ignore working out and start eating junk food.
