I finally got around to starting FRA after having avoided this topic like the plague. I read through the first 2 readings which seemed ok (mostly review of L1 from what I could tell), and then I hit the Pensions readings. Now, because I really wanted to focus on FRA on 1st pass, I decided to change my study technique from doing Schweser EOCs to doing CFAI EOCs. The reading itself didn’t seem too bad but trying to do the CFAI EOCs was just impossible. I almost couldn’t even understand the questions.
My question is the following: is it this topic that is particularly difficult or is it my approach of using CFA EOCs that is the reason I’m struggling on this one? I’m obviously willing to accept that CFA EOCs are a bit harder than Schweser, but to what extent exactly? It’s just a bit worrying because it makes me think I actually didn’t understand all the other topics I covered prior to this using Schweser EOCs only.
I am retaking Level II. If you look at what past test takers have said, doing the CFA EOCs and bluebox examples is a must, and I strongly second that point of view.
I’m retaking LII. First time through I did only Schweser and (to my own peril) used the CFA EOC’s just as a tool to get a feel as to how the questions could be written.
It’s hardly a quantitative measure however taking from my experience and what I’m finding by comparing the two - Schweser does a fantastic job at segmenting the material and focusing on the principles, HOWEVER, the CFAI text and EOC’s drill in the specifics and force you to understand the context more so than just the process.
Exam wise I would use CFAI text for the big ticket items (FRA & Equity) and any other area you’re not all over.
To simplistically answer your questions. 1) Yes it is difficult. FRA has quite a few nuances in the material so look for the detail. 2) As above. Hard to say how much harder they are compared to Schweser. I would focus on the contextual differences again.
As you are no doubt aware, LII is based on knowing the material rather than a plug and play.
Uh oh, CleverCFA, I’m following the same strategy, where I’m currently just reading and planning to do CFAI EOC’s after my first pass (just b/c they take soo long)! And similar to your experience, so far, I feel pretty comfortable w/everything I’m reading in Schweser - will definately require revision, but nothing where I feel like I’m TOTALLY LOST - so maybe need to start incorporating ?'s now before it’s too late. How much of the material have you covered? I’m about half way…
I think its a general consensus that Pension and FX translations are the toughest area. Here is my prescription since everyone seems to be giving out advices on the forum: Beat it into your head through multiple readings. Take a day break by studying light/easy topic like quant. Then continue beating the reading again the next day. Sometimes you just gotta let it marinade in your head. Are you studying purely from Schweser Notes with CFA EOC sprinkled in?
CFAFatso, I’m thinking it mostly has to do with the fact that those sections are seriously difficult. Like DailyGrind mentioned, I think we just need to go over these topics several times and let them sink in. I highly recommend the Elan videos. I watched 2 * 3-4 hour videos on Pensions and Multinational stuff and it’s taken the edge off the panic a bit (like, ok, I can handle this, I just need to focus, instead of shear panic I had a week ago).
I’ve switched to CFAI EOCs only because I’m coming to tail end of first pass so thought I’d integrate tail end of 1st pass with 2nd pass which will be EOCs + QBank.
I do still think there is value in doing Schweser EOC to begin with. It’s a first pass, the object is not to completely master the material, just have a high level intro it before diving in for a second pass. We need to do a 2nd read anyway, then is the time to really make sure you’re solid with the material by benchmarking to CFAI EOCs and BBs.
Do a search of the forum, and you’ll find a general consensus. Everyone is different. Topics that are easy for some, could be someone’s anchor. Example… Quant and Econ were a cakewalk personally, since i have univ. background in both; while FRA is, and will probably continue to be, a reoccuring nightmare.
Guys sorry. Am panicking as i just started studying after the jan. 22 result. Do you read all material without doing any qs (am using Elan’s notes n video) in your first pass and do the eoc later after u finish all or you do eoc now while u read in your first pass in my L1 i read my first pass no eoc then mock then do eoc and reread. Then mock again, address weak areas (reread and eoc and bb). thanks. Sorry a bit out of topic