I honestly don’t remember if this will be the 5th or 6th time taking L2 !!! Even worse, I have not yet started reviewing anything at all… which partly explains the many fails. My plan is to start doing mocks any day now… those of you who know me recall that I just could not do any mocks, or any type of exams, because I never felt ready for exams! This time around, I have no intention of reading anything (I read them all too many times!), just problem solving, and hope that will do it.
Good luck! Just out of curiousity as I’m fairly new to this forum (and only have some glimpses of your thread postings), I know you didn’t do any mocks as you were more focused on being prepared by first understanding the material - but what exactly did that involve (i.e. reading cfai text multiple times)? Also, did you do any q-bank/eocs?
CFAfatso, yes mainly reading the material to make sure that I understood the stuff well, which is good but it does not guarantee answering questions on exam day! Anyway, I’m taking this for personal reasons, not job-related, because I’m working in IT, and have no desire (or hope) of getting into the industry, except for starting my own training/consulting business. Another problem is that until now I have not started any review or practice tests… so I’m not a good role model, if that’s not already obvious!!!
hello Deary, same here (4th time). i just picked up books again a week ago. my problem has been not able to make even one pass of the course material and i am not sure how can I do better than what I already got last year.
Topic Max Pts <=50% 51%-70% >70% Alternative Investments 18 - * - Corporate Finance 36 - - * Derivatives 36 * - - Economics 18 - - * Equity Investments 72 - - * Ethical & Professional Standards 36 - * - Financial Reporting & Analysis 72 - * - Fixed Income Investments 36 - * - Portfolio Management 18 - - * Quantitative Methods 18 - * - We have divided the group of candidates who did not pass into 10 approximately equal score bands. Your score band below shows how your overall score on the exam compares with the overall scores of candidates who did not pass this exam. Your score band: 10
Holy sh!t, you’re back! And from one extreme to the other. So you mean, this time you haven’t started any preparation whatsoever? No reading at all?
I did make a comment in another thread, and I stick by it, that if I had to choose between only practice questions OR only reading to prepare, I definitely think only practice questions are better. Especially if you read the explanations! Get cracking already!
Dreary, maybe one problem for you is your lack of understanding of how all this theory connects to the real world? Since most of us studying this have been working for a while in the industry. But given how much time you spent, you probably have the knowledge more set in your long term memory than almost all chartholders. Good luck!
RobRoy, I’m pretty sure the real world is much easier than what the material goes through, for one thing in the real world you focus on one or two areas max… there are many big shot analysts who know nothing about derivatives or portfolio management, or that they never need to anyway. Also, in the real world you will never have to form a solution or give an answer in 1 minute, like on exams! But yes, I read the material and still feel that some parts are quite difficult to master, like most of portfolio management, some forms of swaps, advanced regression topics, and some specific topics in corporate finance, as examples.
If I don’t need to do any reviews, I think one month is good enough for practice exams, but my fear is that every question would have me go through the books again, ouch.
That’s truly amazing given your little, if any, preparation!!! I’m afraid that I might just go to the exam as is, no preparation at all…I’m too busy with other personal projects these days.
OMG, I though my 4th time is already the longest, never though that there are someone on the same boat!!! PEPP I am 3 times band 10 here! Let’s work hard this time buddy!!!
Every single time i’ve added something to my knowledge. But I’ve never really gotten serious about finishing the curriculum. And I’ve realized
a) without studying the entire curriculum also one can pass or come very close to pass. But you have to be lucky and to ace it in key areas.
b) for L2, practise is the key. Without the practise i’d never get 10. I remember failing with band 5 first time (must have only read like 20 chapters and never did a damn problem). Then failing with band 6 second time. (same result, must have studied 30 chapters, and again did very little practise). Then failed with band 10 last year, (this was after taking a year haitus and studying only 3 weeks, but i did about 20-30 problems daily including schweser qbank)
c) in my personal experience i’ve discovered that there is a direct correlation to repition and mastery of the topics. pretty obvious. in my last attempt (band 10) when I left AI, derivates and parts of FRA untouched as in never read, and you can see the results. Had i nailed a couple more questions in these sections i’ve been through.
d) every time I study, the course material seems overwhelming (not new). but to go to the exam knowing everything, it seems to me that one has to study atleast 2 months and do a few repition or have a memory that of PEET KIM. I picked up books a week ago and realizing that I am running out of time if i intend to study the entire curriculum and be ready for this exam with confidence of passing.
good luck to all. I have an uphill battle this time as well, but deary is my inspiration.
escoleru,
failing 3 times with band 10 is something. find your weakness and just study that. If you think you did get >70 in some subject but you feel there is an element of luck in that result then study that section as well. CFA should have a rule that if you fail 3 times with band 10, you automatically get promoted to L3.
It’s Friday and as I feared I have not yet looked at anything exam-related, none. Too busy with other things.
The funny thing would be if I pass the exam! No doubt I’m just going to look at a question and see if it rings a bell, else choose B. I think this should be better than a purely random process!
I surely did at least in two of the previous ones. I got a band 10 once. But I also know some people who did less, but were lucky enough to get through. Luck is always helpful.
Dreary are you hoping to pass the exam with your preparation? I am sitting for it, but not too hopeful. As usual there are so many parts of the exam which I have never read even once. However my hope is to get 50% of the questions right (as in know in my gut I circled correctly). For the rest 50% try to get 1/3 correct. that’d get me to 66%. and I think if I got lucky, it could be considered as pass.