With L2, I could just memorize formulas and the concepts would follow, not so much jargon, and straightforward questions. With L3, it’s more memorizing both formulas, concepts, jargon, and even adjectives (e.g. endowment’s sustainable, stable, significant). The questions seem easy, but hard to comprehend correctly and answer. There is only 1 correct answer for Level 2, while with level 3 you can’t be sure what kind of answer graders are looking for. Your common sense must be attuned to industry experience (not sure if having them will help either or more like to attuned to CFAI’s writers’ experience). I never was able to answer EOC correctly EVERYTIME, even when I re-did them a few times. When I tried to memorize one section of the curriculum, I forgot the others.
The concepts are, IMHO, easier, but a lot of the problems that one is set, have more subjective answers. For example, in private wealth management, some of the responses to risk appetite (willingness/ability to take risk.) Also the morning exam format is definitely worth practicing. Get as many past papers and mock exams as you can and work through them to get an idea of what is expected. When one gets into the exam room, the format is so unfamiliar to what I had experienced previously that even after having done the mocks and past papers, I tended to make silly mistakes (like not using the templates when I should have.) Having done it (and hopefully not having to do it again) I found level three a bit more tedious than either level one or two so, my advice would be, plough through the drudgery of reading it as soon as you get your hands on the material and then focus on practicing the stuff.
The answer is, THEY ARE ALL DIFFICULT and it DOESN’T MATTER which of the three is ‘least difficult’. You have to study to pass, so get it done.
I think this voices similar opinions, but I think that understanding the material was the hardest part to Level II, while the format of the exam in Level III brings great challenges to those who don’t know how to apply the information in a written format. Much easier when you can see a potential answer versus coming up with it on a blank sheet of paper.
builders Wrote: ------------------------------------------------------- > this guy said it best about level 2 > > QuantJock_MBA Wrote: > -------------------------------------------------- > ----- > > 1 - 2 girls > > 2 - 2 girls one cup 3 - 1 guy 1 cup
Totally agree.
i agree .
L2: You can do well by studying the Readings individually. L3: It would be better off by grouping related Readings to study. That’s my impression.