Posting this in the general forum as I’m interested in getting some insight from people who have taken both L1 and L2. Feel free to simply drop your statistics for others to get an idea.
I took L1 for the first time in December 2015 and passed. I will sit for L2 in June 2016, but have a very finite number of hours I can study as I work full time.
I obvioulsy understand that some people are smarter than me, and that I am smarter than some. That’s why I figured the relative scores for each topic section plus the number of hours studied can give a better gauge than simply, “how many hours did you study?”
L1 hours studied: 420
Number of attempts: 1 - pass
Passing scores: Received greater than 70% on all sections with the exception of AI, which I got 50-70%.
L2 maximum hours possible: 480 (14% more hours than L1)
Am I silly for thinking L2 can be passed with merely a 14% increase in study time? Granted, I probably didn’t need the full 420 hours for L1.
Thanks for reading!
And thanks in advance for those posting valuable information!!!
I did 280 hours for L1 and got >70 in all sections except for Quant and Derivatives as I am ironically most familiar with those subjects so pretty much just skimmed the Schweser material. Seems I didn’t skim quite hard enough as got 50-70 in those 2.
For L2 I did 400 hours and got >70 in all topics except economics which I got 50-70. I studied economics at uni (albeit many years ago) so may have subconsciously spent less time there than need be.
I found L2 to be nowhere near the “monster” that people claim it is.
I agree with this-- there’s an awful lot of unjustified hype for the exam (doesn’t mean it’s easy, but it’s over stated)…
I studied about 200 hours (probably a little less) for level 1 using the CFAI material and hit >70% in each topic.
At level 2, I again studied about 200 hours while using the CFAI material with the Wiley 11th Hour guide for review. I again hit >70% in every topic.
I don’t feel that the hours of study are important. It’s going to vary highly depending on your background and how effectively and efficiently you study. Your goal should be scoring well on practice material instead of hitting a number of hours.
Totally agree here. Glad to hear from people who passed, that the L2 isn’t as bad as some make it out to be. Of course, that’s information from the passing group which is more dedicated and/or smarter. I figure the relative scores in each section coupled with the study hours can help the readers somewhat gauge their performance relative to others based on their study hours and scores. I wish we could receive an actual score!