Awaiting CFA Level 1 results --> Move on to Level 2?
Hi all,
So I just took the Level 1 exam Saturday, and though I feel pretty good about my chances, I'd rather not count my chickens. That said, I think I would like to take the Level 2 exam in June if I do pass, though I won't know my results until 8 weeks from now. This seems pretty late to start studying for Level 2 so for those of you who attempted the December Level 1 --> June Level 2 testing schedule, how did you manage it? Did you begin preparing for Level 2 before you even knew your Level 1 results, or did you wait to start until it was that late in the game to start?
Thanks
I work w a guy that didn't start L2 until dec L1 results and passed first try. Other people take 2-3 tries. So, all up to you. Some sort of break is probably good regardless
I started after new year. I wouldn't risk waiting until results because you could run out of time and end up resitting.
I took the test yesterday as well and have been contemplating the same thing as OP, whether to start studying now or wait until the results.
I feel fairly confident about my scores but I'm crossing my fingers because I definitely don't want to have the mindset that I passed and find out in a month that I failed.
I feel exactly the same way, papertrail. Anyone else have any advice to add for the two of us on how to proceed?
No. You will burn out. Take the rest of December and the start of January off. Register for L2 as soon as results come out and hit it hard.
Not feeling so confident after the test but I've been thinking the same thing for a while now. I've also wondered if its possible to register for level 2 even if you haven't passed level 1 yet. But based on you guys' comments, I'm guessing you can?
Does one really need more than 4-5 months to prep for level 2? I wouldn't have thought starting to prep right now was "too late". If anything, I'd think it's too early. Sure everyone is different, but still..
Remember. Level 2 is an entirely different world of pain to level 1...
This x10....
If you didn't pass level 1 you will next time. To put it another way, if you fail L1 twice in a row with reasonable preparation you have a very difficult-to-surmount mountain in front of you.
If you are really committed to the program, study for L2 now. Your L1 pass news will give you a shot of adrenaline when you need it the most, and if you do pass L2 this June you will save a year of your life. It's impossible to describe how nice it would be to be done a year earlier with the program than you would be otherwise.
Basically, think about August 2015. You can either maybe find out you passed L3 or maybe find out if you passed L2 and look forward to a guaranteed year of pain no matter what. I would choose the former. Even if you fail Level 1, you will retain some of the level 2 stuff you studied so it is not all lost.
I failed my Dec level 1 and then passed L1, 2, 3 in consecutive Junes. I took my December level 1 almost completely cold, and had a pretty good idea I didn't pass, so I didn't have the dilemma you do.
I passed L1 and L2 back to back on first attempts and found that back to back actually made studying easier because as anyone that has taken the CFA knows once you start to develop a study pattern it is easier to just keep the momentum going after you get your L1 pass results. You should have plenty of time to study for L2 once you get your L1 results (and by plenty of time I mean not much at all assuming you work full-time and still want to maintain a semblance of a social life but it is certainly doable). I used Schweser exclusively for L2 primarily because I found the CFAI text to be very dry and convoluted. How many hours do you plan on logging?
I logged about 150 for L1 then had to do a fire drill for the last week when I realized I was no where near ready on practices, but I still think I did fine on the exam. Thinking I need to do more like 250-300 to be safe for L2.
Like others here, I'm in the same boat. I'm feeling fairly confident about Level I and considering ordering the Schweser materials for Level II before the results. Worst case scenario I would have 2014 level II materials for the 2015 exam, is that a big concern/ issue? From my understanding things don't change that drastically year to year.
If you purchased schweser material for level I, don't they let you use online level II materials for free until level 1 results are back? Or something to that effect?
Thought I remember seeing that somewhere.
That being said, 3-4 months should be plenty of time to study for level II, if you're committed. I waited and did fine.
Do what ever you feel comfortable doing. For some people, they feel they need the full c.6 months, others will wait. There is no rule to this.
Go to Schweser site and click on the CFA the on the right there's a link called 'Jump Start'.
They give you free material until Feb 5th. I think they give you the first book and video + access to Qbank.
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