it gets better.
Behavioral finance and AMC
Basically any topic that begins with “framework.”
All that bs about different types of CDOs in level 2 gets a bit boring.
Econ I always struggled with. I still don’t understand the difference between covered and uncovered IRP.
i never studied ethics, just did questions, so ethics isn’t bad.
gips was boring but I spent so little time studying it, that it seems unfair to give it the prize.
In the end it has to go to level 2 financial statement analysis where they make you learn how to calculate goodwill and other differences between IFRS and US GAAP. I must have read that reading 10 times and still couldn’t do shit with it.
^ Completely agree…
Never read ethics/GIPS - only did questions on them…
For me too its economics, just couldnt understand the different theories related to GDP/Market/Economy and Currency movements too… Just when I think I understood the reasoning behind a particular correlation, there comes another guy with another theory! I would have read this about 10 times and still have no clue!
FRA for me was surprisingly easy, I dont know why. Though I never did any Accountancy courses earlier! I for one found Pensions extremely interesting 
A lot of credit has to go to my Prof there, who did decent course on that for L2 online
Im a bit surprised here that so many people here hated econ (like me). I would have thought that most of you were econ majors and super into it.
I love Economics, there I said it.
That’s me. But the way CFAI presents the material is quite dry.
When I reached L2 and read economics, I clearly understood that I never learnt Economics the right way in L1 
The CFAI material of 20010 Economics was horrible too, IMHO!
GIPS in L3 and Econ in L2
I actually kind of enjoyed FRA in L2 (in as much as a guy can enjoy accounting). Seemed to be alot more useful than level 1, which was almost all IFRS vs. GAAP.
Most boring: Ethics/GIPS. Those readings are just brutal
Hardest: Probably alt. investments? But that could be because I just didn’t focus on it as much as the other SS’s.
Surprisingly worst section for me: portfolio management. I was killing it on the mocks/practice questions, but failed it on the exam
Accounting in L2 was more interesting than L1. L1 was about “here are the rules.” L2 was about “here is how you adjust things to reflect economic reality a bit better.” That was more interesting.
I still hate the accounting part of the exam. My weakest section (though good enough to pass it).
I think if I had to do it again today, I would like it better though. It was mostly too much new stuff for me, and I didn’t have enough context at the time to understand why they were emphasizing certain points that to me seemed kind of randomly organized. What the implied interest rate was when capitalizing leases confused the heck out of me, and deferred tax assets/liabilities did too. Today I definitely understand it better.
me too.seriously, it is an interesting and very applicable subject that is unfortunately barely touched on in the CFA material, and in many times on useless niche theoretical policy areas… *cough* taylor rule *cough*
I agree with the GIPS, and anything that is just a blatent memorization of lists. Though the theory and reasoning behind having the GIPS framework is interesting and useful to understand.
Ethics and FRA
Ethics. More Strict, Less Strict country? Having a meal with a client is a stressful business.
Ethics
The answer is obviously ethics. No sane human being enjoyed reading that.
You need to be separating opinion from fact. And if it’s fact, document your sources. 
haha, like it!
I like ethics questions with situations instead of solely asking something that requires a high level of memorization (e.g. : which of the following is least likely one of nine major topics in GIPS? Frankly, I am looking for a way to memorize those 9 topics).
For me, it’s economics, I complained with my friend that we had to study theories of some guys who died long long time ago and furthermore, we have to match which theory to which guy/school. I understand those theories but struggle with the matching game!. And…my friend, who is a physician, said " Newton died 400 years ago and everybody around the world still learns about his theory". Oh oh, at least when think about gravity and Newton, I think about apples. How about Keynes and other economic guys? I am wondering if there’s any fruit that aids me with the matching question, lol :))
Leases. Still don’t understand them and I’m an accounting major. All the rules make no sense. I think that was Lev 2, but could have been Lev 1? Don’t remember. Don’t care to remember. That was awful.
I can genuinely say the vast majority of Lev 3 was very interesting to me. And that surprised me as someone that didn’t enjoy the PM parts of Lev 1 and 2.