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CFA Weekend

Secyh62's picture
Secyh62 - Certified Professional
Rank: King Kong | banana points 1,099

Time to get it done, Saturday is the day. A little last minute for this post but: Who's taking it/What level/What number will this attempt be/How are you feeling about it?

I'll be siting for level 2, will be my second go at it. Passed level 1 first try the previous December and didn't have enough time to get through all of level 2 last year. I have to say I feel much more prepared this year having had a full 6 months to go through the material. Still, I'll never feel fully confident about a test that fails more than half of its takers.

How's it looking?

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Comments (277)

May 31, 2017

Just graduated school. taking L1 for the first time and I'm pretty nervous. with classes and job hunting and this,and trying to have a social life, it was hard to manage it all. Worst comes to worst I'll take L1 in december. good luck to everyone

May 31, 2017

Dec lvl 1, June lvl 2 now back at it for lvl 3

Fuck this test

    • 2
May 31, 2017

congrats on L2 man, best of luck!

Jun 2, 2017

whats your take on the designation man? Will the structural change in Asset Management, I'm simply not as motivated to go through with it. I'm trying to get on the institutional sales/distribution side of the business in a non research role.

Jun 5, 2017

I think most any advanced education is great, and CFA absolutely will fill holes in knowledge.

I think unless you're going to be managing money or researching investments, it's pointless, so from your standpoint, I don't see the purpose, but I don't think it's going anywhere

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May 31, 2017

Taking Level I
Heading into senior year (had senior credit standing as junior)
Feeling okay overall. Weakest section is definitely Quant (mainly the stats) and strongest sections are fixed income and FRA.
Been doing ~200 QBank questions a day to review and I still don't feel 100%
How have you guys been doing on practice exams?

May 31, 2017

71, 68, 60 (outlier af), 78, 78, 71.

    • 1
May 31, 2017

Very solid. Looks like you should be all set.

    • 1
Jun 1, 2017

I would be more confident if I built on those two 78s rather than coming back down to a 71

Jun 2, 2017

Most years the minimum passing score is in the mid-60's. You're gtd to pass in any given year if you're above a 70.

Jun 2, 2017

Anything in the 70s on CFA or Schweser practice exams is good. One thing to keep in mind is that if you are using the Schweser practice exam books (2 books) the later practice exams tend to get harder. Probably harder than the actual exam even. (At least in my experience when I was taking the exams.) If you consistently score in the 70s (with a couple potential low lying outliers) I would not be overly concerned about your chances on the actual exam. That being said, obviously don't walk in thinking you'll crush it either.

    • 1
Jun 2, 2017

You'll never feel 100% confident going in. The few people I have known that felt like they had various levels in the bag generally ended up failing. The exams do not inspire confidence in oneself (until after you find out you passed). They inspire self-doubt. Try your best not to allow your mental state to swing too far in either direction and you'll be able to focus on the task at hand. Good luck.

EDIT: I didn't read far enough down to see ai215's comment about not feeling 100% confident. Sorry about that. I reiterate your point.

Jun 1, 2017

@Secyh62 same trajectory as me, you'll be good to go this time around.

L3 time for me, hoping to be done forever after Saturday. Feeling good, but as CFA vets know, you can never feel 100%. I've put in more work than I ever did for previous levels, so i'm hoping that gets me over the final 55% pass rate

    • 1
Jun 1, 2017

Lvl 3 is tough to see where I stand. Grading these AM tests are subjective.

Jun 1, 2017

First time taking L2. I've focused most of my efforst on the big topic areas like Equity, FRA and FI. Hoping to secure a pass on my first attempt, but I feel that it's also going to be about luck in getting itemsets on areas your strong at.

Jun 1, 2017

Ya my worst two sections right now are derivatives and FRA so I'm working on those two the most in these last two days, but I agree, a lot of my score is going to be the draw. If its equity, corp finance, and ethics max weights I should pass no issue but if derivs or FRA get max weights I'll be cutting it a little closer. Averaging 70 after 3 full schweser mocks which is much better than where I was this time last year, but still tough to feel confident.

Jun 1, 2017

you were averaging less than a 70 on level 1 practices last year and passed?

Jun 1, 2017

Well I took level 2 last year for the first time, but I will say that yeah on level 1 I was prob only averaging like 66-68 somewhere in there and I passed comfortably and felt prepared. My experience has been that the CFAI mock is way harder than the real deal and the schweser mocks are slightly harder.

So if you're bangin out 70's consistently you're probably good. The real test is much simpler and more straight forward than any practice tests you're gonna take.

Jun 2, 2017

The Schweser tests are harder than the real exam at all three levels in my opinion. And they sort of get harder as you go along, so scores don't necessarily improve.

Jun 1, 2017

FRA is pretty important, I would definitely focus your final day there. I would also advise not over-working yourself tomorrow, I'm a big believer in going in with a fresh mind

Jun 1, 2017

I agree, the day before is a good day to rest and do some light review.

Jun 1, 2017

Level II, first attempt here. I definitely did not get in the amount of time I dedicated to Level I in December 16. The timing on completing the L1 and then having to wait until February before you can get materials really hurts. Between that and speed bumps at work I am about 3 weeks behind where I wanted to be.

Also, FWIW I started with the quant section and it really drained my motivation for the exam. By the time I got into the content I find more stimulating I was questioning whether I still wanted to do it, and it took me some time to ramp back up and get motivated. So I have a feeling I'll be LII again next year....FcK.

(PS: If I worked as hard on studying as I did in coming up with all the above excuses I would probably pass)

    • 2
Jun 1, 2017

I could've wrote your post word for word at this time last year, its tough coming from the December exam. Same with quant, I had never seen anything like that before so it looked like Chinese to me, but once you plug away on the stuff after a while it starts to make sense and is a little more intuitive.

Jun 1, 2017

Yeah I think if you really hit level one hard in December and try level 2 right away there's also some burn out. Best of luck to you. Good luck to everyone, for that matter.

(But not really. Just good luck to @Secyh62. If everyone at L2 has good luck then I'm screwed)

    • 1
Jun 1, 2017

I actually found it to be the opposite. Coming from Dec lvl 1 I was already in a study groove so I got right back on it. Also starting a bit late had me basically go all out from the start.

Getting back into the groove for lvl 3 was real tough, I had a solid 6-7 months off and it took a while to get going

    • 1
Jun 1, 2017

http://rs682.pbsrc.com/albums/vv185/rethjack/enzyte-tshirt-swelling.jpg~c200

    • 2
Jun 1, 2017

I'm just messing around being a delta bravo. Threw you an SB. Good luck on Level 3. I hope you get it done. Definitely good to hear people's success stories and using it as fuel to burn when you need some motivation.

Jun 1, 2017

Oh man, completely forgot about "Bob". Those commercials, late night on comedy central, always funny

Jun 2, 2017

same exact situation here man

Jun 2, 2017

would be so much better if they offered levels 2 and 3 in december too...so much easier to study when you aren't distracted by patio weather and thirst traps at the pool

Jun 1, 2017

Taking L1 on Saturday. Not feeling too great (mocks have fluctuated from 55-75) but I've heard from lots of people that the mocks are more difficult. Been slacking the past two weeks in studying (first job out of ugrad). I guess we'll see what happens.

Jun 2, 2017

Good luck to everyone!

Jun 2, 2017

Really not looking forward to L2 tomorrow. December L1 could not have gone smoother, I was extremely well prepared and actually enjoyed studying. I think I burnt myself out a little and work life really picked up since. The worst part about CFA prep is the fact of how easy it is for life to get in the way and you to really lose track of days quickly and missed study days add up fast. Gonna keep that PMA but think I'm gonna need two cracks at it this time. Good luck L1 & L3. I hope a lot of you Level 2 guys do awful to be honest.

    • 2
Jun 2, 2017

I have L3 tomorrow. I did not expect this thing to be as bad as L2... I pray this is the last time I take a CFA exam.

    • 2
Jun 2, 2017

Level 3 for me.

    • 1
Jun 2, 2017

Level 3 for me. Good luck everyone!

Jun 2, 2017

Just to motivate you all - I have friend that put in 1000 hours of study time for level II and failed.

Also, don't forget you can borrow calculators in the exam center and it's baller to show up 5 minutes late.

    • 1
Jun 2, 2017

when I too level 1 the dude that sat next to me didn't even show up for the second half, straight OG

Jun 2, 2017

dude you said it

Best Response
Jun 2, 2017

When the moderators say pencils down, they really just mean "ok guys start wrapping up what you are doing. Feel free to spend a couple more minutes on this problem and finish up when you feel comfortable." The myth that you have to stop when they say pencils down is just haters that don't want you to get an extra question right.

Also, make sure to talk about the exam and the questions right after you finish them with each other. Honestly, if you feel comfortable, just assume you passed and start calling yourself a Level III candidate.

Just the fact that you even want to study for the exam, the institute trusts that you will be a CFA one day, so also just feel free to add those three letters to your name early while you're at it.

Don't forget, it's only gay if you look at the other guy's dick.

That's about it for now. Rules to live by.

    • 5
Jun 2, 2017

Level 1 tomorrow, a lot of procrastination at times, yet general dedication to the material the past 6 months. Hitting some ethics review and questions now followed by an epi of house of cards and a solid 7-8 hour snooze. I look forward to rolling in to the exam room tomorrow answering questions with speed and precision and then leaving the facility with my nutsack hanging out of my cargos to head straight to my car to rip a bowl and head home where I'll take a couple more mock exams for old times sake.

    • 1
Jun 2, 2017

Good luck to everyone in this thread, fuck everyone else, check back in tomorrow night to discuss. (no specifics of course)

Jun 3, 2017

I wonder how many people show up to the exam secretly wearing a diaper...wasting a precious 2 minutes just to release some stupid urine is absolutely brutal

    • 1
Jun 3, 2017

Level 2 today in Sao Paulo.

Passed the level 1 last year in my first attempt. Having less than 5 months to prepare for level 2 isn't easy, but I believe that it can be done.

Jun 3, 2017

Good Luck everybody!

Jun 3, 2017

Hey, I have just sit for lvl 2. I think I did good, but I am quite afraid I have violated the rules and my exam will be voided..
I took my fitbit with me (its a fcking watch!) to the room and, like I would do with any other watch, I took it off my wrist and placed it on the desk.
When I came back from the WC, the proctor asked me to handle the watch. So I did.
After the exam I asked the proctor if there was going to be a written report about the fcking watch, she told me she had to write a report but that she would say that I was not wearing it, nor looking at it.
So, short question: How fcked am I?

Array

Jun 4, 2017

Did you happen to write in Chicago?

Jun 4, 2017

Nope, third world country down south.

Array

Jun 3, 2017

Definitely not feeling great about my test. Shit was hard man, hope I passed.

Jun 3, 2017

I thought the morning went pretty well, but the pm was much harder. Hoping my morning was good enough to get me through but we'll see

Jun 3, 2017

Did well on Ethics, QM, CF, Equity. and FRA.
More or less on AI, Econ, PM
Bad on Fixed Income, Derivatives

Think it's more or less what it's needed to go toward into Level 3...

Jun 4, 2017

Took Level II today as well. Felt great after the AM session, PM is when shit hit the fan...

Jun 4, 2017

I only found one section in the PM session to be brutal, all in all was not as bad as I was expecting. Everyone says level 2 is the only exam where CFAI goes out of their way to try to trick you.

Jun 4, 2017

I felt that AM was easier than PM for Level 2 this year. I didn't like the disribution of item sets per topic areas though. Quant and Derivatives on AM and PM truly sucked when I thought that I was done with them already after AM...

Jun 4, 2017

Took L2 as well and agree. Felt confident after AM, but the luster wore off pretty quickly in the PM session. Was caught off guard and annoyed with the weighting of one of the topics that appeared in both sessions, at the expense of a possible vignette from some of my better sections. Was also irritated that I left some points on the table on some areas that are typically my go-to. Cautiously optimistic, but it will likely come down to the wire for me.

Jun 5, 2017

I thought L3 was pretty fair, nothing really unexpected. That's not to say I knew everything (I definitely didn't), but it was a reasonable exam. Still, walked out of the exam with absolutely no idea if I passed or failed (which is how I felt on 1 and 2 as well, but obviously I've gotten through those). Now the waiting begins...

Aug 8, 2017

Band 10. Guess we'll do this again next year...

Aug 8, 2017

Damn man, sorry to hear that. One more year. What did your matrix look like?

Aug 8, 2017

Essays were 6/10 <50%, 3/10 51-70%, and 1/10 >70%. Item sets were 3/9 <50%, 3/9 50-70%, and 3/9 >70%.

Seems like I just really need work on my writing. Also seems like that should be worse than band 10?

Aug 8, 2017

I passed with AM 5/0/5 and PM 2/5/2. AM was stronger than I expected (pretty hit or miss it seems) and PM was weaker. Will be curious to see how it works out when I can drop it into the 300 Hours results analyzer

Looks like you probably needed one or two more 70+ sections to get you over the hurdle. You're very close, confident you'll be ready to crush it next summer

    • 1
Aug 28, 2018

Following up, just got results in, passed L3 this time around. Feels great to be done forever.

    • 1
Aug 8, 2017

Sorry brother. I'm L2 again next year, so you're not alone. Sounds like you're right on the cusp so hang in there and kill it on the next go around. Best of luck.

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Aug 8, 2017

I'm sitting for level 2.

Scored 80%-85% on mock 2010. Scored like 60-65 on mock 2011....

Aug 8, 2017

Got a scholarship from my undergraduate school during my senior year to take it, so I'll be there.

Started studying on Saturday though....

Aug 8, 2017
Dimension:

Got a scholarship from my undergraduate school during my senior year to take it, so I'll be there.

Started studying on Saturday though....

I have to wonder if this was a joke, if it's not, just stop now because you are wasting your time.

Aug 8, 2017
Chicago85:
Dimension:

Got a scholarship from my undergraduate school during my senior year to take it, so I'll be there.

Started studying on Saturday though....

I have to wonder if this was a joke, if it's not, just stop now because you are wasting your time.

Not a joke. Nor am I wasting my time.

Aug 8, 2017
Dimension:
Chicago85:
Dimension:

Got a scholarship from my undergraduate school during my senior year to take it, so I'll be there.

Started studying on Saturday though....

I have to wonder if this was a joke, if it's not, just stop now because you are wasting your time.

Not a joke. Nor am I wasting my time.

So you think you will pass with less than a week of studying...

If I had asked people what they wanted, they would have said faster horses - Henry Ford

Aug 8, 2017
happypantsmcgee:
Dimension:
Chicago85:
Dimension:

Got a scholarship from my undergraduate school during my senior year to take it, so I'll be there.

Started studying on Saturday though....

I have to wonder if this was a joke, if it's not, just stop now because you are wasting your time.

Not a joke. Nor am I wasting my time.

So you think you will pass with less than a week of studying...

Thats really not that ridiculous, L1 isnt that hard. I took it the week after finishing my MFIN with only doing some practice tests and passed. L2 on the other hand is a motherf*cker.

Aug 8, 2017
rjroberts1:
happypantsmcgee:
Dimension:
Chicago85:
Dimension:

Got a scholarship from my undergraduate school during my senior year to take it, so I'll be there.

Started studying on Saturday though....

I have to wonder if this was a joke, if it's not, just stop now because you are wasting your time.

Not a joke. Nor am I wasting my time.

So you think you will pass with less than a week of studying...

Thats really not that ridiculous, L1 isnt that hard. I took it the week after finishing my MFIN with only doing some practice tests and passed. L2 on the other hand is a motherf*cker.

There is no way you can pass L2 by only a week of prep. You might learn most of the material in MFIN, at work or from your undergrad but there are too many nuance that can only by picked up by reading the CFA prep. Ethics being the major topic.

There is no MBA, MFIN, or Ivy class that can prep you for Ethics and some of the nuance, you just have to read the CFAI or one of the prep books.

BEST OF LUCK TOMORROW.

Aug 8, 2017
Dimension:
Chicago85:
Dimension:

Got a scholarship from my undergraduate school during my senior year to take it, so I'll be there.

Started studying on Saturday though....

I have to wonder if this was a joke, if it's not, just stop now because you are wasting your time.

Not a joke. Nor am I wasting my time.

How did you do?

If I had asked people what they wanted, they would have said faster horses - Henry Ford

Aug 8, 2017
happypantsmcgee:
Dimension:
Chicago85:
Dimension:

Got a scholarship from my undergraduate school during my senior year to take it, so I'll be there.

Started studying on Saturday though....

I have to wonder if this was a joke, if it's not, just stop now because you are wasting your time.

Not a joke. Nor am I wasting my time.

How did you do?

I was taking L1 (not sure if Chicago thought I was doing L2 or not) and feel pretty confident I passed. Most of the stuff is relatively fresh - since I just graduated - so I was able to back into a few answers I wasn't sure of. Slightly demoralizing when the guy sitting next to me walked out half an hour into the afternoon section and never came back. We'll find out in a couple of months though.

Aug 8, 2017

i'm averaging about 75% on practices, i can only hope i learned something from taking them. i'm sitting for level 1

Aug 8, 2017
ieatgold:

i'm averaging about 75% on practices, i can only hope i learned something from taking them. i'm sitting for level 1

That's about where I am.

Aug 8, 2017
ieatgold:

i'm averaging about 75% on practices, i can only hope i learned something from taking them. i'm sitting for level 1

That's about where I am after 3 practice exams ( 72%,75%,82%) + 1000 qbank questions (79%)

Aug 8, 2017

Best of luck guys

Aug 8, 2017

L2 for the first time this year. I took a schweser and the practice exam from the CFAI website with mid 60's and mid 80's on the test example (the 24 question set from CFAI that seemed to be kinda hidden on the website). My main method of relaxation is looking at analystforum.com and realizing how many dumb questions are asked on there, and incorrect answers then given and discussed.

Aug 8, 2017

L2, feeling mixed on it.

Aug 8, 2017
Kenny_Powers_CFA:

L2, feeling mixed on it.

I feel the exact same way.. just not coming together as well as I wanted to. I can't be one of the people that doesn't even show up though.

Aug 8, 2017

I get the same feeling on L2, I feel like I've covered all the material, but the 2011 CFA mock exams were just too tricky ... arg. Good luck guys!

Aug 8, 2017

Here are some topics to glance at in the 25th hour...

http://www.analystforum.com/phorums/read.php?12,10...

Aug 8, 2017

Just crushed L1.

Aug 8, 2017

does analyst forum not allow people to create threads on june 4???

nead idea if its true...

Aug 8, 2017
Unforseen:

does analyst forum not allow people to create threads on june 4???

nead idea if its true...

Chad who created and runs analystforum. Shuts down the forum for 48 hours. One year people were gathering answers on a topic and say how do you do xyz. Then someone I think from India took them all and made a document with 80% of the questions.

Chad handed over the username and IP information to the CFAI.

CFA is like the secret police/mi6/cia in one. You do not mess with their rules. So now Chad basically locks the forums so no idiots can break the rules for their own good.

Aug 8, 2017

L2 was brutal. I need a bar, quickly.

Analyst forum traditionally blocks any new replies/posts on the site because they don't want anyone discussing the test over the big weekend. Nothing new.

Aug 8, 2017
cjohn09:

L2 was brutal. I need a bar, quickly.

Analyst forum traditionally blocks any new replies/posts on the site because they don't want anyone discussing the test over the big weekend. Nothing new.

This*1o0010010

Aug 8, 2017

^^^^ Thanks. and fuck people who say it was easy right after. This was not easy.

Aug 8, 2017

It's a bummer how long they take to give results. It's a god damned scan tron, lol. Analyze that shit!

I felt good about it. I was scoring in the 70-80% range on mock tests, burning out towards the end. Thankfully I took the evening off the night before and went in with a fresh mind.

The morning session definitely seemed to be easier than the schweser mocks, as people say. The afternoon had some random ones on there that I'm less certain on.

Aug 8, 2017

I was scoring anything from 60 to 75 in the mocks for Level 2. So if I do manage to pass it's going to be with very little margin. Does anybody know what is more or less the usual pass score?

Aug 8, 2017

I think you need >70% overall for a pass.

After my experience in this exam, I believe the CFA Institute should produce different exams for every person, or at least have different versions around the room. In London we sat in pairs, and the girl on my right was blatantly glancing at my answer-sheet (which was also on my right given that I'm right handed).

Of course, I did not report it as there is no way I could actually prove it.

Aug 8, 2017
dacasale:

I think you need >70% overall for a pass.

After my experience in this exam, I believe the CFA Institute should produce different exams for every person, or at least have different versions around the room. In London we sat in pairs, and the girl on my right was blatantly glancing at my answer-sheet (which was also on my right given that I'm right handed).

Of course, I did not report it as there is no way I could actually prove it.

If she was attractive, then leverage for sex obv.

Aug 8, 2017
dacasale:

I think you need >70% overall for a pass.

it's a bit lower than that, actually. the institute puts it something like "nobody who has scored a 70% or higher has ever failed the exam." you can score lower than 70 and still pass, but that statement makes it seem like it's theoretically possible to get a 70 or above and fail (though nobody has done that).

my gut feeling is that the passing score is somewhere in the mid 60s.

Money Never Sleeps? More like Money Never SUCKS amirite?!?!?!?

Aug 8, 2017

I agree that it feels good when the person you're paired with took longer.

Both sessions the guy failed to finish it.

I finished the first session with 20 minutes to spare and the afternoon with 15

Kind of a shitty way to feel confident.

Aug 8, 2017

Took Level 2 yesterday. Not sure how I feel about it honestly. I feel that if I passed, it was just barely or if I failed it was just barely. I didn't walk out feeling like I did terrible or anything, but I definitely walked out with more confidence after Level 1. Either way, I feel like if I'd have to retake it, I'd kill it next time. Just hope it doesn't come to that.

Aug 8, 2017

JR -- took the words right out of my mouth

Aug 8, 2017

I feel exactly the same way on L2. I know exactly what I was weak on, knew halfway through each vignette whether I was going to nail the questions or guess, etc.

Aug 8, 2017

Level 2 was much easier than last year's Level 2. That said still 50/50 on whether I passed or not. A lot of questions were just mind numbingly simple, like too easy. I felt like I was missing something which I probably did.

Aug 8, 2017

Level 2 was a disaster for me. I felt like some of the things tested were not completely covered by Schweser, and my study was only based on that. I'll know what to look out for next year.

Aug 8, 2017

I took the level 1 and I'm really not sure if the afternoon session was harder because the actual content was harder or because I was tired as shit. I finished the morning section with an hour extra so I really should have taken a nap or something but didn't because I was busy trying to second guess if I got questions correct or not. I still feel pretty good about it though.

Kenny, if you don't mind me asking, is there any real benefit for you getting your charter with your current job or is it more of a future thing?

Aug 8, 2017

i just got FUCKED on L2. fucking forgot all the pension formulas LOL.

i'm going to forget about this thing until August 1.

Money Never Sleeps? More like Money Never SUCKS amirite?!?!?!?

Aug 8, 2017

I wrote L1 on Saturday. I was averaging 75-80 on most of my practice exams in the last week, and fluked out an 88 on the Thursday before. I don't feel nearly as confident about the actual exam, though.

Aug 8, 2017

I took L2. I feel pretty good about my chances. I really only got tripped up in one equity vignette and one corporate finance vignette. Afternoon was much much easier than the morning.

Aug 8, 2017

I felt pretty good about L2. After talking to colleagues and reading forums I think many people struggled. Too bad we can't talk about specific questions!

Aug 8, 2017

lol the more I go on analystforum and the more I read about other people's answers, the more I think I failed it.

Aug 8, 2017

Glad to count myself among the 39% who passed level I.

Aug 8, 2017
buybuybuy:

Glad to count myself among the 39% who passed level I.

congrats.

"Have you ever tried to use a chain with 3 weak links? I have, and now I no longer own an arctic wolf."
-Dwight Schrute

Aug 8, 2017
buybuybuy:

Glad to count myself among the 39% who passed level I and needs to drop $630 soon so I don't look like I'm slacking.

Aug 8, 2017
whatwhatwhat:
buybuybuy:

Glad to count myself among the 39% who passed level I and needs to drop $630 soon so I don't look like I'm slacking.

You jealous bro?

Aug 8, 2017

Pretty sure you missed the point of my post.

Aug 8, 2017

epically FAILED L2. LOL yea L2 is way harder.

Money Never Sleeps? More like Money Never SUCKS amirite?!?!?!?

Aug 8, 2017
sayandarula:

epically FAILED L2. LOL yea L2 is way harder.

How much did you study and how confident did you feel going in?

Aug 8, 2017
whatwhatwhat:
sayandarula:

epically FAILED L2. LOL yea L2 is way harder.

How much did you study and how confident did you feel going in?

I did about 300 hours and passed. It is indeed harder than level 1 but the MPS seems to also be a lot lower (from looking at passing scores on analyst forum).

Aug 8, 2017

Passed level II here also, about 250 hours of studying. Definitely more difficult than level I, but used Schweser this time around so not too bad.

Agree with you duff, MPS does seem lower. Analyst forum showed what looked like some very low passes...

sayandarula - what band? sorry to hear

Aug 8, 2017
R5A7B:

Passed level II here also, about 250 hours of studying. Definitely more difficult than level I, but used Schweser this time around so not too bad.

Agree with you duff, MPS does seem lower. Analyst forum showed what looked like some very low passes...

sayandarula - what band? sorry to hear

band was low enough that it's too emarassing to admit on WSO.

i did about 3 months of studying (passed LI in December, wasn't sure if i wanted to wait another year or not).... didn't keep track of hours that well but i think i came in under 200.

honestly, i felt very unconfident going in. i had contimplated just wating until 2012 due to lack of time but in the end figured the experience would help. looking forward to kicking L2's ass in 2012.

Money Never Sleeps? More like Money Never SUCKS amirite?!?!?!?

Aug 8, 2017
sayandarula:

band was low enough that it's too emarassing to admit on WSO.

damn homie

im considering signing up for '12 l2 before i send out the next batch of resumes but kinda don't want to sign up this early in the event that i don't actually get around to studying

Aug 8, 2017
whatwhatwhat:
sayandarula:

band was low enough that it's too emarassing to admit on WSO.

damn homie

im considering signing up for '12 l2 before i send out the next batch of resumes but kinda don't want to sign up this early in the event that i don't actually get around to studying

don't mean to scare you. do it! if you sign up now you will have MORE THAN ENOUGH time to pass.

honestly, they key to L2 (i think more so for L1) is practice, practice, and more practice. my mistake was leaving all the problem-solving for the last month. because of the vignette format of L2 (you read a pretty long passage and have to answer questions), studying for L2 takes a lot more time than L1, because you can cover a lot more L1-style questions than L2 questions in a set amount of time.

the sooner you can get into problem-solving mode, the better. best of luck.

Money Never Sleeps? More like Money Never SUCKS amirite?!?!?!?

Aug 8, 2017
sayandarula:

honestly, i felt very unconfident going in. i had contimplated just wating until 2012 due to lack of time but in the end figured the experience would help. looking forward to kicking L2's ass in 2012.

Yeah man, sorry to hear. It's not like you can get your money back though (I tried getting a refund or deferring for L3 - but you've pretty much gotta be on your deathbed or shipped off to mandatory military service to be considered). But now that you've gone through it, you know what to do next time around.

Aug 8, 2017

Agreed - the more problems and practice tests you do for L2, the better (obviously, but it really makes a huge difference over reading more passages, etc.).

Aug 8, 2017

oh definitely not scared. i figure anyone with a finance background that puts in the time can pass these. i'm not saying i'm looking forward to level 2 but i think it might be easier for me to study because fucked if i could remember every little thing covered in level 1.

Aug 8, 2017

Failed Level II, 7-band. DEFINITELY harder than Level I. Time to kill it next year!

Aug 8, 2017

Passed level 1 heading into senior year. Definitely doable (I crammed for 20 days before internship started and still got >70s) especially since alot of it is review of undergrad core business curriculums.

Always be improving

Aug 8, 2017

Passed L1 :-)

On to L2!

Aug 8, 2017

Passed L2 this year. L2 is definitely much much harder than L1 and the majority of candidates find out the hard way. I put ~300 hours of studying and started in mid-March. I even managed to sneak in a bachelor party weekend two weeks before the exam :)

Aug 8, 2017
kingtut:

Passed L2 this year. L2 is definitely much much harder than L1 and the majority of candidates find out the hard way. I put ~300 hours of studying and started in mid-March. I even managed to sneak in a bachelor party weekend two weeks before the exam :)

BOSS!

Aug 8, 2017
kingtut:

Passed L2 this year. L2 is definitely much much harder than L1 and the majority of candidates find out the hard way. I put ~300 hours of studying and started in mid-March. I even managed to sneak in a bachelor party weekend two weeks before the exam :)

Wow 300 hours in 2.5 months? Good shit, congrats!

Was this your first time taking a shot at L2?

Money Never Sleeps? More like Money Never SUCKS amirite?!?!?!?

Aug 8, 2017
sayandarula:
kingtut:

Passed L2 this year. L2 is definitely much much harder than L1 and the majority of candidates find out the hard way. I put ~300 hours of studying and started in mid-March. I even managed to sneak in a bachelor party weekend two weeks before the exam :)

Wow 300 hours in 2.5 months? Good shit, congrats!

Was this your first time taking a shot at L2?

Unfortunately no, second attempt. Last year was quite an eye opening experience. I only studied ~150 hours for L2 and it showed in my results, Band 8 Fail. I'd love to know what the pass rate is amongst first time L2 candidates, it's probably around 30%.

FRA was the big culprit last year so I took a L2 accounting prep workshop that did wonders for my FRA scores. I'm pretty confident my FRA score this year was 90%+ unlike the <50% last year.

I used the CFAI books exclusively. There are no shortcuts to passing L2. If you put in the time and effort it should be passable.

Aug 8, 2017
kingtut:

I took a L2 accounting prep workshop that did wonders for my FRA scores. I'm pretty confident my FRA score this year was 90%+ unlike the <50% last year.

Who offers this?> In class or online?

Aug 8, 2017

any level 2 studying recommendations? more worried about the change in format than anything.

fucking analyst forum is cracking me up with people talking about how they're contemplating suicide because they failed level 2

Aug 8, 2017
whatwhatwhat:

any level 2 studying recommendations? more worried about the change in format than anything.

fucking analyst forum is cracking me up with people talking about how they're contemplating suicide because they failed level 2

I did a full read through of the CFA curriculum and think it was probably a waste of time. I say stick with Schweser for L2, although this varies by person. CFAI EOC's are helpful, though. Any mocks/sample exams you can get your hands on are definitely beneficial.

As for the new format- the biggest issue is the time constraint. Some of the vignettes were ~5-6 pages long. If you skim it, you may miss something and if you comb through it thoroughly, you end up wasting time. On the AM session of the exam I had to rush a lot at the end just to finish (and heard similar stories from other test takers). The vignette structure takes some getting used to.

Ethics is a crapshoot, just like L1- just read it the week before the exam and do all the practice vignettes. Questions are so subjective that it really just comes down to luck and have a basic knowledge of the guidelines.

I studied ~300 hours and passed. I can confidently say I did not overstudy. The MPS seemed really low from looking at people's distributions on analystforum or else my pass would have probably been "borderline". L2 is a beast but by no means impossible.

PM with any specific questions.

Aug 8, 2017

Passed L2 this June after Passing L1 in Dec. Only used Schweser, and started studying first week of Feb. Was out of town two weekends, so really had about 3.5 months. It was hell. I wasn't shocked that I passed, but I knew it was gonna be close. I was probably only at 200 hours for L2 and only had time to do 2 practice exams. I have an MBA and work in IM which certainly helped, but it's still pure hell.. That was the worst year of my life. Will take a few months off and then close hard on L3. Going to try to go back to back to back.

Good luck to anyone who is making the effort.

Aug 8, 2017

Passed Level I, on to Level II

Aug 8, 2017

Class taught by John Harris. I highly recommend the class.

http://www.accountingworkshops.com/

Aug 8, 2017

Good luck. Just remember, whatever happens, you're still getting trashed on Saturday night.

Aug 8, 2017

Best of luck.

Aug 8, 2017

good luck everyone. make sure you get sleep the night before and don't look around the room once the test begins

Aug 8, 2017

Just curious, how long does it take on average to study for Level 1 considering I am a freshman and just have taken Micro Econ so far relating to the exam?

I want a lady on the street, but a freak in the bed,

Go Bucks!!

Aug 8, 2017
Ambition:

Just curious, how long does it take on average to study for Level 1 considering I am a freshman and just have taken Micro Econ so far relating to the exam?

wait until your junior or senior year. it would probably take 300+ hours to learn without any sort of background (micro econ = 2% of the exam). you might as well wait until you have a solid understanding of finance, accounting, econ, quant, etc. also, you can only take one exam while still an undergraduate. pass it your freshman year and you have to wait until june after graduation to take the second (at the very earliest, you might not even be able to register as an undergrad)

Aug 8, 2017
duffmt6:
Ambition:

Just curious, how long does it take on average to study for Level 1 considering I am a freshman and just have taken Micro Econ so far relating to the exam?

wait until your junior or senior year. it would probably take 300+ hours to learn without any sort of background (micro econ = 2% of the exam). you might as well wait until you have a solid understanding of finance, accounting, econ, quant, etc. also, you can only take one exam while still an undergraduate. pass it your freshman year and you have to wait until june after graduation to take the second (at the very earliest, you might not even be able to register as an undergrad)

You have to be a senior to register for level 1 and can't register for level 2 until you have your degree (TY CFAI for costing me $100ish by making me register for level 2 late)

But yeah as an econ major it might be tough; especially if you haven't taken any accounting classes.

Aug 8, 2017
Ambition:

Just curious, how long does it take on average to study for Level 1 considering I am a freshman and just have taken Micro Econ so far relating to the exam?

How are you a certified user? And I don't think you can take it until your senior year.

Aug 8, 2017

Saturday night is going to be messy!

Good luck London guys, see you at the ExCel.

Aug 8, 2017

Good luck to anyone in Atlanta.

Aug 8, 2017

Ok first off, Ronald, and Flake,

Just because I am young doesnt mean I have no experience. I starting my own mobile marketing company,
Interned at an Prop Trading firm, interned at a incubator, passed my series 7, and now have a VC internship lined up in SF ( I come from a non-target),

So I request that you dont say things like ANYBODY can get it because I had to still prove myself through my advice and my email to WSO. I know how to get internships that people can only dream of their freshman year. I can provide insight on how to network, communicate, etc.

So Flake, please dont come to conclusions about my history without knowing me.

Thanks for the advice Duff and What What SB+1 for you

I want a lady on the street, but a freak in the bed,

Go Bucks!!

Aug 8, 2017

That's a lot of stuff for a 14 year old.

Kidding. My previous comment wasn't actually meant to offend/attack you or anything (crazy, right?). I'll PM you with an explanation later.

Aug 8, 2017
Flake:

That's a lot of stuff for a 14 year old.

Kidding. My previous comment wasn't actually meant to offend/attack you or anything (crazy, right?). I'll PM you with an explanation later.

There he goes again, PMing the younger boys.

In all seriousness, good luck. I took my L1 this spring so I know exactly how you are feeling (you just want to see what's going to be on the test). If you have any questions feel free to PM me.

Aug 8, 2017

its all good man, i still have a lot to learn and ( most of the time your posts are helpful).

thanks.

I want a lady on the street, but a freak in the bed,

Go Bucks!!

Aug 8, 2017

Any bar recommendations for NYC area after this?

Aug 8, 2017

Thanks Rothyman,

My dad has the textbooks (he has his CFA), but when I ask him how hard it is and shit, he just says that it took him 3 days to get ready for it (then again he did his BS in mech enginner, and got his MBA and PHD at MIT). So I need to ask sane people about this, He doesnt have patience to teach me at a sane pace and it pisses me the fuck off lol.

thanks again,

I want a lady on the street, but a freak in the bed,

Go Bucks!!

Aug 8, 2017
Ambition:

Thanks Rothyman,

My dad has the textbooks (he has his CFA), but when I ask him how hard it is and shit, he just says that it took him 3 days to get ready for it (then again he did his BS in mech enginner, and got his MBA and PHD at MIT). So I need to ask sane people about this, He doesnt have patience to teach me at a sane pace and it pisses me the fuck off lol.

thanks again,

Your dad must be a genius. On average it takes 100-150 hours of studying. That comes out to 3-4 months averaging to something like 2-3hrs/day. Towards the end you'll step it up to 5-6 hours or more. The most important thing is question repetition. Get A LOT of practice questions and dedicate the last whole month to doing those. Take at least a few practice exams. Also, a study package is a must. The wrong way to study is to read word for word out of the CFAI books. I recommend schweser or analystnotes.

Aug 8, 2017

I see, thank you very much! But like the posters above said I can't register until my senior year so I have some time I guess.

I want a lady on the street, but a freak in the bed,

Go Bucks!!

Aug 8, 2017

The saturday after the test I left my house at 7pm and came home at 7am.

As for studying hours, I studied on average 2 hours a day from March 18 - June 3 and passed.

GLGL to everyone!

Aug 8, 2017

@rothyman, CFAI recommends a minimum of 250 hours of study. I passed Level I in June with about 225 hours of study with a finance background. I studied Schweser exclusively and didn't even take my CFAI books out of the box they were delivered in.

@Ambition, I'm sorry but your poppa did not pass it by prepping for 3 days, much less Levels II and III.

@monkolony, good luck! I gotta start studying for Level II in January. Not looking forward to it. Hopefully my banking offer comes in before then and I can push off the CFA for a few years!

My name is Nicky, but you can call me Dre.

Aug 8, 2017

@ aempirei,

Yea he passed lvl 1 by studying for 3 days. He already had his MBA in Finance though. So it was a very easy review for him.

I want a lady on the street, but a freak in the bed,

Go Bucks!!

Aug 8, 2017

Would consider it better to have a finance degree and have the CFA OR have an economics degree and have the CFA?

If you can't kill them with kindness, just kill them.

Aug 8, 2017

wat

Aug 8, 2017

I just took the test today with three days studying. I probably could've used a few more days haha. I'll let you know come January how it turned out to see whether it's possible or not.

Aug 8, 2017

Studied for 2 weeks after junior year and passed >70 in all categories. It's ridiculously easy if you have a finance/accy background for level 1.

Aug 8, 2017
Funkfreed:

Studied for 2 weeks after junior year and passed >70 in all categories. It's ridiculously easy if you have a finance/accy background for level 1.

Do not listen to this retard.

Aug 8, 2017
Flake:
Funkfreed:

Studied for 2 weeks after junior year and passed >70 in all categories. It's ridiculously easy if you have a finance/accy background for level 1.

Do not listen to this retard.

Uh it is. I can't prove it to you and I'm sorry it took you longer.

Aug 8, 2017
Funkfreed:
Flake:
Funkfreed:

Studied for 2 weeks after junior year and passed >70 in all categories. It's ridiculously easy if you have a finance/accy background for level 1.

Do not listen to this retard.

Uh it is. I can't prove it to you and I'm sorry it took you longer.

I never took it, but you're either full of shit or you're exaggerating greatly. Even if it were true and you're some kind of an idiot savant, your comment would make people take the exam way too lightly and you wouldn't be doing people a favor.

So uh, shut the fuck up bitch.

Aug 8, 2017
Flake:
Funkfreed:
Flake:
Funkfreed:

Studied for 2 weeks after junior year and passed >70 in all categories. It's ridiculously easy if you have a finance/accy background for level 1.

Do not listen to this retard.

Uh it is. I can't prove it to you and I'm sorry it took you longer.

Even if it were true and you're some kind of an idiot savant, your comment would make people take the exam way too lightly and you wouldn't be doing people a favor..

Never thought of it that way. My bad, was definitely bragging on an anonymous forum for no reason at all. And honestly, the exam isn't as hard as you think it is. A savant to pass the first level of the CFA in 2 weeks where you have nothing to do but study (actually review if you came from an accy/fin background)? Really? The only material I had never seen before was in the ethics section (minus a few areas the exam delved deeper into).

Aug 8, 2017
Funkfreed:
Flake:
Funkfreed:
Flake:
Funkfreed:

Studied for 2 weeks after junior year and passed >70 in all categories. It's ridiculously easy if you have a finance/accy background for level 1.

Do not listen to this retard.

Uh it is. I can't prove it to you and I'm sorry it took you longer.

Even if it were true and you're some kind of an idiot savant, your comment would make people take the exam way too lightly and you wouldn't be doing people a favor..

Never thought of it that way. My bad, was definitely bragging on an anonymous forum for no reason at all. And honestly, the exam isn't as hard as you think it is. A savant to pass the first level of the CFA in 2 weeks where you have nothing to do but study (actually review if you came from an accy/fin background)? Really? The only material I had never seen before was in the ethics section (minus a few areas the exam delved deeper into).

As much as I hate you, I would be ecstatic if you were right. But after seeing the guys on my floor sweating L1 and L2 (some having to re-take) I can't imagine how anyone could pull it off by studying for 3 days (finance background or not, I'm talking about 2nd-3rd year associates at a BB failing levels I and II). So you're either the Sheldon Cooper of finance or you have to be exaggerating by quite a bit.

I'm also kind of upset you won't fight with me and call me names back. So stop being nice or I get bored and stuff.

Aug 8, 2017

You do know you can study for >200 hours in two weeks right?

Aug 8, 2017

^^ haha well I guess you could but 14-16 hours a day for 14 days straight seems like hell, if you require 8 hours of sleep then you would just have 2 hours a day to run chores, eat, relax etc. Not possible to do 200 hours in 2 weeks for me.

I want a lady on the street, but a freak in the bed,

Go Bucks!!

Aug 8, 2017

While I'm sure it's possible to study for 2 weeks and pass, I doubt most people can do it. Anyone who says that L1 is a cakewalk obviously hasn't taken it or is tooting their horn trying to cover up their own insecurities.

I had 2 roommates who were both Ivy League finance A+ students (one was president of the business school at a top 5), and they both put in at least 90-100 hours into the L1. They would not tell you it was a cakewalk. There is just way too much material to memorize and NO, you don't learn all of it in undergrad finance. There are TONS of annoying bond yield conversions and small details that people don't 'naturally' know off the top of their head from being a finance major. That is the truth.

Aug 8, 2017

Agree with Rothyman - I just took it this past Saturday and find it very hard to believe anyone could pass with just a few weeks of study. While most of the material isn't particularly difficult, it's the breadth of the test that really makes it challenging.

There's just a huge amount of material that they can test you on - so you can focus on a ton of concepts the test barely touches, and overlook small concepts that you do get tested on. Whenever you condense that much material to only 240 questions - there's always an element of luck in how what you know aligns to what you're tested on.

Aug 8, 2017

Exactly. There is nearly 3000 pages of material. The material isn't overly challenging but any of the questions could be regarding one line of information that appeared on one of those 3000 pages.

I just have a hard time believing anyone could study in 2 weeks (much less 3 days) and retain all of the information.

I am still calling BS on this kid who says his dad passed on 3 days of study.

My name is Nicky, but you can call me Dre.

Aug 8, 2017
aempirei:

Exactly. There is nearly 3000 pages of material. The material isn't overly challenging but any of the questions could be regarding one line of information that appeared on one of those 3000 pages.

I just have a hard time believing anyone could study in 2 weeks (much less 3 days) and retain all of the information.

I am still calling BS on this kid who says his dad passed on 3 days of study.

I CALL BS ON THIS WHOLE THREAD.

Aug 8, 2017

he forgot to tell you his father took the exam in 1963 when there were only 5 questions and the responses were subjective

Aug 8, 2017

I have not studied much. I took the week off and read all of the Schweiser books. I think I will pass though

Aug 8, 2017

lots of people taking either LSATS or CFA saturday -- gonna be a shitshow saturday night

Aug 8, 2017

I'm taking it...I'm pretty borderline, though. Making a final push. Shouldn't be on this board taking a break. Have a feeling I'll have to retake in June. I've studied about 150 hours but could use about 50 more.

Aug 8, 2017

Yea I'll be taking it in Chicago on Saturday. Probably going to drive back to school as fast as I can and get a little crazy. Long week next week too though.

Aug 8, 2017

It was really not a good idea to prep CFA and CPA at a same time... I need one more weeeek!!!

Aug 8, 2017

I'm ready... Just finished the CFAI mocks and have one sample left.

It's amazing though with all of the preparation I have put in how I can still come across a question and not recognize the term.