Hi Friends For all you Fresh L2 Candidates, I have tried to compare the difficulty level of each topic of L2 with L1. This is just my opinion and other L2 takers opinions are most welcome. L1 L2 Ethics Much more difficult in L2 Quant For me the Hardest part in L2-5X more difficult then L1 Economics The only section i found easier in L2 than L1 Equity Definitely tougher than L1-lot more to read. FSA Tougher to understand than L1, but less material to read. CF Much tougher than L1.Was a cake in L1 PM Much Much tougher than PM in L1.PM was a cupcake in L1. Derivatives Ha Ha , 10X than L1. Asset valuation not too tough. 2X into L1 Fixed Income Probably the same as L1 or lesser-more of theory this time. Remember in L2 there are no easy topics like Derivatives, Asset, PM and CF ,which were pretty easy in L1. Also while reading L2 material you might get this feeling that the material aint that hard, but wait till you give the Real Exam. Tc
I think opinions on level of difficulty would vary, depending on your background. From your list above, I would say Derivatives are definitely harder (it’s continuation from L1). Econ is somewhat easier (but not by a lot if you didn’t do well on FX materials in L1; also watch out for tiny “curve ball” materials). Ethics isn’t that much harder (it’s bigger, that’s all). For equity, FSA and FI, just treat them like new topics and you will be fine (again, they are bigger but not necessarily harder, depending on your background and effort invested). The smaller topics, like PM, AI and Quant, your biggest challenge is probably preparation time constraint and memory retention (after you memorize all the materials in the above topics). PM is particularly painful in this regard.
I’ve laid my hands on last years Schweser. It doesn’t seem so tough. It’s gonna need time. It a LOT, LOT and LOT more DEEP than L1. And the things that are mentioned in the book are something you don’t see daily in the news/papers. L1 material had a lot of terms that you could encounter in Daily life - Econ, FSA, Bonds, Derivatives, which I think made it easier to grasp. Now how many people see the reporter on CNBC talking about Alpha or Gamma?
RahulMulchandani Wrote: ------------------------------------------------------- > I’ve laid my hands on last years Schweser. It > doesn’t seem so tough. http://www.analystforum.com/phorums/read.php?12,831932 Candidates say that every year. Just wait.
I hear they’re introducing the intergalactic CAPM at level 2 this year.
I thought Ethics was the same.
mdecav Wrote: ------------------------------------------------------- > I thought Ethics was the same. L1 Ethics + Soft Dollars + Research Objectivity - GIPS = L2 Ethics
JensensalphaMale Wrote: ------------------------------------------------------- > mdecav Wrote: > -------------------------------------------------- > ----- > > I thought Ethics was the same. > > > L1 Ethics + Soft Dollars + Research Objectivity - > GIPS = L2 Ethics I meant same difficulty, not material.
agrover Wrote: ------------------------------------------------------- > Hi Friends > For all you Fresh L2 Candidates, I have tried to > compare the difficulty level of each topic of L2 > with L1. > This is just my opinion and other L2 takers > opinions are most welcome. > L1 L2 > Ethics Much more difficult in L2 > Quant For me the Hardest part in > L2-5X more difficult then L1 > Economics The only section i found > easier in L2 than L1 > Equity Definitely tougher than > L1-lot more to read. > FSA Tougher to understand > than L1, but less material to read. > CF Much tougher than L1.Was > a cake in L1 > PM Much Much tougher than > PM in L1.PM was a cupcake in L1. > Derivatives Ha Ha , 10X than L1. > Asset valuation not too tough. 2X into L1 > Fixed Income Probably the same as L1 or > lesser-more of theory this time. > > Remember in L2 there are no easy topics like > Derivatives, Asset, PM and CF ,which were pretty > easy in L1. > Also while reading L2 material you might get this > feeling that the material aint that hard, but wait > till you give the Real Exam. > > Tc No offense - but it’s quite obvious that level 2 would be harder than level 1… that’s why it’s called LEVEL 2, genius… It would make no sense if it were easier.
mdecav Wrote: ------------------------------------------------------- > JensensalphaMale Wrote: > -------------------------------------------------- > ----- > > mdecav Wrote: > > > -------------------------------------------------- > > > ----- > > > I thought Ethics was the same. > > > > > > L1 Ethics + Soft Dollars + Research Objectivity > - > > GIPS = L2 Ethics > > I meant same difficulty, not material. I thought the way it was tested was more difficult for L2. Just my opinion.
Ethics is larger but isn’t too much difficult as comparing to L1. CAL, CML and CAPM are crucial topics. You have to be careful with the vocabularies that CFAI use. Fortunately, the concepts are relatively straight forward. Also be able to make the connection to APT and iCAPM later on.
verse214 Wrote: ------------------------------------------------------- > agrover Wrote: > -------------------------------------------------- > ----- > > Hi Friends > > For all you Fresh L2 Candidates, I have tried > to > > compare the difficulty level of each topic of > L2 > > with L1. > > This is just my opinion and other L2 takers > > opinions are most welcome. > > L1 L2 > > Ethics Much more difficult in > L2 > > Quant For me the Hardest part > in > > L2-5X more difficult then L1 > > Economics The only section i found > > easier in L2 than L1 > > Equity Definitely tougher than > > L1-lot more to read. > > FSA Tougher to understand > > than L1, but less material to read. > > CF Much tougher than > L1.Was > > a cake in L1 > > PM Much Much tougher > than > > PM in L1.PM was a cupcake in L1. > > Derivatives Ha Ha , 10X than L1. > > Asset valuation not too tough. 2X into L1 > > Fixed Income Probably the same as L1 or > > lesser-more of theory this time. > > > > Remember in L2 there are no easy topics like > > Derivatives, Asset, PM and CF ,which were > pretty > > easy in L1. > > Also while reading L2 material you might get > this > > feeling that the material aint that hard, but > wait > > till you give the Real Exam. > > > > Tc > > No offense - but it’s quite obvious that level 2 > would be harder than level 1… that’s why it’s > called LEVEL 2, genius… > > It would make no sense if it were easier. i just tried to compare each topic to L1, for people who havent gone through L2 material…obviously its Level 2 …thts why its called so…genius… and i read some people saying…" i just started reading level 2 and found it pretty easy as opposed to what people were saying" , this comparison was just to give them an idea regarding the difficulty of each topic in l2… rest…its every1s own hard work and background… cheersssssss!!!