CFA Level 2 June 2020, Wiley or Schweser?

Financial Advisor in IA

Hi Guys,

Prepping to take CFA level 2 in June, heard good things about the Schweser books and good things about the Wiley online course. Could potentially buy Schweser books (anyone with comments on how it is for level 2? It worked well for me in level 1) and or the Wiley Course (anyone have opinions or recs for different courses?

Comments (19)

Feb 6, 2020

used schweser for L2 and passed very comfortably. Never used Wiley, but Ive heard that Schwesers Qbank is better than Wiley's as well as their practice exams. I think you would be fine with both, know people who have used Wiley and still passed.

Feb 7, 2020

^same. I was very happy with the Schweser stuff for level 2.

Feb 6, 2020

I passed L2 using Schweser books and exams a number of hears ago.

Feb 6, 2020

Schweser

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

Feb 6, 2020

Hijacking thread.

It's been more than 10 years since I took the CFA L1 exam. I passed by the skin of my teeth due to destroying the Ethics section. So, I've got a Chinese co-worker who speaks pretty broken English. He'll be able to destroy the exam's mathematical concepts but will struggle with Ethics due to how complicated the language is. Do you think he has any chance to pass the CFA L1 exam with broken English given the weight of Ethics?

Feb 7, 2020

Just passed level one, I think I did decent on ethics, not 90th percentile but not far from it either. It's weird cause its the one the CFA institute says can affect you disproportionately to the % of questions it is on the exam. I'd hope he can get at least 40th-50th percentile on it, but as you probably know the CFA institute is intentionally vague on these things. Maybe this will help though. https://news.efinancialcareers.com/us-en/162018/wh...

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  • Analyst 1 in IB - Ind
Feb 22, 2020

it is not rocket science. he needs to do all the q bank and also understand the vocab. the wording doesnt change much but it might get complicated. if he goes through mocks and q bank and memorizes what words mean he will be fine. remember there is only a few ways every standard can be tested. He also has to knpw which are standards and which are the principles.
Besides, i took the exam with terrible knowledge of economics and quan and alternatives basically knew the basics and I survived. I advise with 5 day schweser review course

Feb 7, 2020

CFAi Materials. They're longer than Wiley or Schweser, but prep you better for the test and set you up much better for Lvl 3. The other two will give you exactly what you need to pass and nothing more, which will leave you worse off for the next level.

As to the Chinese guy with bad English, he should be busting his ass endlessly. Ethics has the highest ROI of any topic in the curriculum, as they essentially test you on the same material on all three levels.

Feb 7, 2020

First off, read the CFAi books. I know there's way too many pages, the prose is drier and crustier than a 90-year old geriatric lady in a nursing home's twat, and it can seem like a waste of time. It's not. In order to maximize what you get out of doing practice questions from the Q-Bank (CFAi, Schweser, or Wiley, doesn't matter which in this context) you need to have seen the material first in its entirety. The best way to do that is reading the material as written by the people who write the test (I know, I'm going wayyy out on a limb with a crazy premise here). Once you've read the books, do the CFAi study plan (it's included in your registration) and get really good with all the questions in their Q-Bank. At that point, then, if you still want to, but the Schweser, blows Wiley out of the water.

Hope this helps!

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Feb 7, 2020

Schweser for L1 or L2. Not for L3. For L3, do a seminar for 2 days and the actual CFAI books.

Feb 7, 2020

I always go with the #2 at CFA. Spicy Chicken is where it's at.

Feb 8, 2020
CRE:

I always go with the #2 at CFA. Spicy Chicken is where it's at.

Dude, if you're still going to Chick-Fil-A you're so last decade. Popeye's sandwich is where its at. Its SO much better in both the spicy and non-spicy forms.

(Edit: I will give credit to hate-chicken's breakfast biscuit sandwich. With honey and hot sauce it's amazing hangover food.)

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Feb 10, 2020

Here is a survey that breaks down popularity of study materials and their corresponding pass rates. Kaplan seems to be the more popular / produces better result. Personally, I passed using the Mark Meldrum videos and the CFAI Q Bank.

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Feb 23, 2020

I would be hesitant to rely on pass rates. The data may not be reliable.

Feb 24, 2020

There is certainly self-selection and sampling bias present, doesn't mean the information isn't useful - just understand the pass rate is higher for the sample and view it relative to the population. I think a 900 response survey does a pretty good job at showing the popularity of different study resources and I'd rather know that samples pass rate per resource used than not have that info. Using a large pool of data is probably more reliable than sourcing it piecemeal from responses to a forum.

Feb 10, 2020

CFAi materials are the best for Level 2 and 3. A lot more reading but the test is from those materials so you make the call. Read and do the blue box questions. If you want practice tests you can get them from Schweser.

Feb 10, 2020

It depends on how much time you have. But one thing I am certain of (unless anything changed in the last 10 years) is you can pass every level with 70+ just with Schweser. I didn't even open the CFAI books for level 2 and 3. I only did 2 extra mocks before the exam (that my company sponsored), but pretty sure that didn't give me any extra knowledge vs Schweser.

Most Helpful
Feb 22, 2020

I had a great experience for Level I and would recommend it to candidates, while an average-to-below-average experience surfaced for Level II. This is subjective, as Level II is more difficult and the hours I put in for Level II was only 70% of what I did for Level I; I'll preface this with my belief that the material does not get granular enough for how analytical I am and may miss some of CFAI's material you'll later encounter; further, I don't learn from memorization, I learn from relevant application and knowing the 'why'. I often got lost in some of the supplemental content that either had confusing text or graphical references; at times, this confusion was due to minor errors on their part, other-times, it was my errors (Student Support confirmed several of the errors and understood criticism of clarity on occasion). However, after even one error, I begin to lack confidence and start to question readings or questions - especially if it's a zero-day error. At times, this type of experience will distract me to the point that it impacts my progress - I go down a rabbit-hole searching for answers. As I hope I've made somewhat clear, my complaints are mostly due to my personality and this is not a hit-piece on the service provider. I'd guess that the overwhelming majority of users are more than satisfied with Schweser across all levels, so take my concerns into consideration, but don't let one customer review sail your ship. I don't have much experience using alternative providers, but Schweser has a great user-interface and a lot of valuable material too, but when the Q-bank asks a question for a Learning Outcome Statement that is not taught in that LOS, it pains me. Nevertheless, practice-makes-perfect and you will pass based upon the hours you put into it and you won't fail because of a few errors in your material, it's statistically insignificant; though, if you are like me, you may want to consider the CFAI material as your primary choice.

If this doesn't read as one big contradiction and you pull anything valuable out of it at all, I'll be thrilled.

Feb 23, 2020
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