m awaitin my result for L-1... just wanted to kno wheether if i start my prep from Jan ... will it b sufficient time for me to prepare for Level 2...coz m workin rite now n wud b able to give only 3 hours a day... will this much time b sufficient for level 2...
suggestions would b really appreciated as have a take adecision regardin my job and furhter course of action regadin job n CFA...
thanx...
@ Nihir Yes, you can do it starting January provided you can stick to your plan of devoting 3 hrs every day + about 15 hours on weekends i.e. about 30 hours a week for the June exam. From your plan it is apparent you did well in the L1 and expect to clear it and in that case it implies your foundation is good. If the foundation of L1 is good you will observe that L2 contents being similar (but much wider) to L1 you stand a better chance of covering L2 curriculum within this much time. Only thing is that you will have to:
1. Prepare a daily /weekly plan in advance from the curriculum so that you complete your 1st run through by Feb end, start thorough revision and finish it by 1st week of April.
2. Studying mainly from Schewser should sufficewith referring to CFAI curriculum where you do not fully feel confident or the coverage seems bit hollow like in ethics, alternative investment etc , will ensure a good preparation for surely passing. Must do all the EOC questions from CFAI material and wherever, your response to EOC seems deficient repeat the topic from CFAI and /or Schewser again for better depth. Remember in L2 sometimes a single page/concept from CFAI curriculum can cover upto 10 item sets questions so don't ignore any thing (like you could afford to do in L1) and be sure to go through the whole curriculum at least once.
3. Take as many sample tests, practice tests (including previous years') + official mock as possible during April. Remember to ensure revise the weaker scoring topics based on test scores are done immediately (a score of minimum above 75-80% in each paper will almost ensure a solid preparation) .
4. During taking the tests and at the end just revise the material thoroughly to be ready for the grueling final test.
5. It is advisable you keep the formula sheet (they call it 'quick sheet') and the soft copy if you are a laptop/tab guy with you all the time and do go through them as and whenever it is possible like while commuting to office (if long journey by locals!) or when relaxing. Some people prepare flash cards but I find it more time consuming than it is worth - it is upto you and if you do prepare flash cards keep them with you all the time for this purpose. It does increase confidence and save lot of time while recalling the formulas during attempting Questions.
6. Finally, start preparing with a positive outlook - you will have to do it and YOU WILL DO IT. Don't think of 'what if' situations and failure - that is a matter not in your control but passing is, provided you put in an all out effort to clear in June.
7. Sadly, it may also mean turning to a saint till the exam day - no face book, no chats, no parties and very limited TV - many friends will curse you for your 'cut-off' attitude till June but it is worth the trouble in order to receive the email from CFAI telling you 'congrats, you have cleared CFA Level 2' at the end sometimes in July end.
All of the above is based on purely personal experience and it works. Hope it helps you too. Best of luck...
Really appreciate your guidance on scheduling. It would be great if you could also help me out on this. I have Level 2 2011 books. When I registered for 2012, I opted for e-books instead of hard bound books. Didn't realise it then, but found downloading the e-books and reading from them is just not working out for me. Would referring of 2011 L2 books be sufficient? Whether the difference between the two years be so much that it can affect my performance? Though, as a back up I have Scweser material 2012 but somehow my comfort level with CFA books was more in Level 1. Please guide. Thanks
Really appreciate your guidance on scheduling. It would be great if you could also help me out on this. I have Level 2 2011 books. When I registered for 2012, I opted for e-books instead of hard bound books. Didn't realise it then, but found downloading the e-books and reading from them is just not working out for me. Would referring of 2011 L2 books be sufficient? Whether the difference between the two years be so much that it can affect my performance? Though, as a back up I have Scweser material 2012 but somehow my comfort level with CFA books was more in Level 1. Please guide. Thanks
@dd You may check the Level 2 Curriculum Changes between June 2011 and June 2012 here The exact changes are highlighted and that will allow to compare how much effect will be there in your preparation if you totally rely on 2011 only.
CFAI material is good and many use it for preparing while using Schewser as supplement, while many find it too deep and/or tough and do the reverse. It is matter of your choice and liking. In any case whether one uses CFAI books or Schewser material the EOC questions has to be done from these CFAI material for preparing well and passing (specially as those contain previously set exam questions).Another point you may note is that CFAI has a tendency to set some questions on the newly added material in every exam so this table of comparison will also help you to prepare those (newly added material) that may be important for the exam in June. Also if you are not too confident with 2011 material alone, 2012 L2 curriculum material is available already (both in pdf online, just google for it, download and print the newly added/changed parts or get the hardcopy from the addresses in threads in this forum), if you wish you can get these too.
It is nothing surprising that you are not comfortable with e-book version, it is just matter of individual preference and style. If you don't feel easy with it use just printed material, at the end of the day what matters is how much you are confident not from where you studied.
my travelling time is 2 hrs in a day, so during that time need some small materials to read n utilize that much time..so is anybody having Pristine Mind Maps and Formulae book probably of Elan guides...??
Quick one - How many of you manage an active/passive personal folio themselves here?
I know a geek (a former manager of mine, geek because he got a full scholarship at NYU Stern school of Business for his Masters) who passed all 3 levels in 1.5 years and is a Principal with a major firm. Interestingly he never trades in the market and except his stock options holds no EQuity. In my interactions with a lot of his peers I understood several of them are just plain managing people/processes and not money!
As someone who started the prep only after L1 results in Jan 2011 and flunked the CFA L2 (band 10) my advice:
Start now - 3 hrs a day for 120+ days is more than sufficient. I was not able to spend more than 100-120 hrs and the results show. Level 2 is hard if you dont have enough practise.
hello guys...
m awaitin my result for L-1... just wanted to kno wheether if i start my prep from Jan ... will it b sufficient time for me to prepare for Level 2...coz m workin rite now n wud b able to give only 3 hours a day... will this much time b sufficient for level 2...
suggestions would b really appreciated as have a take adecision regardin my job and furhter course of action regadin job n CFA...
Guys any idea when India be included as examination center?
@niks The Delhi High Court allowed the CFA Institute to conduct it's June 2009 exams in India on April 04, 2009
The Delhi High Court gave 'provisional permission' to the Chartered Financial Analyst (CFA) Institute for June 2010 exam on 18th February 2010
CFA Institute got the permission from Delhi High Court to conduct examination in India for the June 2011 Examination on January 27,2011
So, this year, if it is approved, it may be between any of these dates i.e. between last week of this month to mid-April.
In any case the aspiring candidates will have to fill center at Kathmandu (Nepal)or Colombo (Sri Lanka) or elsewhere (to save extra fees if waiting for the approval of Indian centers) and get the change of center by just filling the online change-of-center form later when the notification is issued by CFAI as usual after and if they get the permission again. Best of luck to all.
