50/50 if I passed - What to do for Level II?

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bps23

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I honestly think it could go either way for me. I had been getting mid-60’s on the Schweser mocks, but the real test seemed easier for me than those. I wouldn’t be surprised either way.
My question is what are everyone’s plans for Level II, given that we don’t get the Level I results until the end of January? Virtually everything I’ve read says L2 is by far the toughest, so if you were marginal in passing level 1, is it wise to take level 2 with only 5 months to prepare? Thoughts?
 
Yeah I feel the same. Not sure if I should start studying for Level II now when I have no idea if i passed or failed level I.. any suggestions level 2/3ers?
 
I’m going to take the time off until I find out if I passed or not. If I passed I believe I’m going to wait until the following June seeing that there is no way I can pass level II with work and family responsibilities given only Feb-May study time.
If I failed I’m going to register immediately so I don’t doubt myself on whether to pursue the CFA or not. It’s going to sting but I don’t want to sulk, cry and blame the world for failing. I’m not sure if that answers the question but this is my approach.
 
Pretty much the same here. I’m scared out of my mind and sitting here hoping the MPS will fall and I will somehow manage to pass. I’m thinking of beginning CFA Level 2 classes so I can manage to go ahead with giving Level 2 in June. It’s just the fact that i think I’ll fail that’s holding me down
 
Same here
Although i think i cud do the exam, the result is up in the air (esp being hungry in the last one hour of am session as i couldnt eat much in bfast due to being nervous)
I finally asked my charterholder friend, he suggested i read level 2 fra and quant, saying there is some overlapping. Or buy damodaran book on valuation. It will help level2 he said, and even if i have to fail level 1, the book is good to read anyway
So am borrowing my friend’s 2012 schweser for L2 and if turns out i (God willing) pass level 2 will order schweser or elan 2013 level 2
hope we all pass. Amen
 
I would suggest you wait. While donating money to the CFA Institute is an attractive proposition. You could take the next three or four months off to recharge your batteries (learn a language or read something nonfinancial or catch up on reconnecting with your social network… these can all make you more desireable to employers), and hit it hard in September. If you’re bored you can review Level I stuff in June and July when the June exam takers are decompressing.
And most of all, don’t stress over the holidays about your results… the answer sheet isn’t going to change now.
 
Everyone is different so I can’t say what anyone else should do. I guess its the age old motto of hope for the best (start studying soon) and plan for the worst (pick up level one again in a month). I personally am going to start studying first of the year as if I passed. Luckily I have others in my firm that are signed up for Level II so I’ll be borrowing their Schweser stuff. You can start in on some of the investment tool sections for Level II (Quant corporate finance and econ). Nothing too crazy. Will get you started.
For those of you who aren’t going to take Level II in June whether Pass or fail could always consider looking into the CAIA in March if it applies to your line of work. Definitely I’m considering also.
 
philg1 wrote:
I would suggest you wait. While donating money to the CFA Institute is an attractive proposition. You could take the next three or four months off to recharge your batteries
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Really depends on the person. Do you really want to wait a year and half between tests? I for one want the info from Level I fresh in my mind as I begin the Level II journey. To each their own.
 
Good luck guys. I remember having the same question after taking Level I in Dec 2009. I signed up for Level II June 2010 exam as soon as it was available (once I passed Level I and Level II was an option). I did order the Schweser Level II books before receiving the Level I results to get a head start. I unfortunately was a band 10 fail on the June 2010 Level II exam (I got laid off from my job the day before the test, so my mind probably wasn’t in the game on test day).
My recommendation is to do it. Level II is a beast, but can be done with the approx. 4 month turn around time…but it will take all your focus.
 
tctreasury wrote:
Good luck guys. I remember having the same question after taking Level I in Dec 2009. I signed up for Level II June 2010 exam as soon as it was available (once I passed Level I and Level II was an option). I did order the Schweser Level II books before receiving the Level I results to get a head start. I unfortunately was a band 10 fail on the June 2010 Level II exam (I got laid off from my job the day before the test, so my mind probably wasn’t in the game on test day).
My recommendation is to do it. Level II is a beast, but can be done with the approx. 4 month turn around time…but it will take all your focus.
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DId you use Schweser for your second attempt at Level II? A friend of mine used Schweser the first time around but then used an in person class thing his second time around.
 
Yep…Schweser the whole way through (50% off the second set of Schweser materials due to failing the first time). Passed Level II on second attempt and Level III on first attempt. I wasn’t terribly price sensitive regarding the study materials since my company was paying for it. Schweser was very good in my opinion until Level III…then it wasn’t so useful. Just my two cents.
 
You do not need to buy anything yet. Both Elan and Schweser offer enough LII materials for free for you to get started…
 
In the same boat here. Made the mistake of not drinking caffeine during the break (usually makes me jumpy) but I paid for it in lack of energy. Thus, the afternoon session was much more challenging for me.
Not knowing is a killer. The feeling that the past six months could have been for nought, and that I maay have missed due to not pushing an extra bit bothers me a lot. There is a bit of pride in question if I fail, but the year postponement is worse. Returning to the materials for a second try will be fraught with resentment, as being familiar/good with the material now gives way to “Why did I fail when I am doing so well?” Etc.
For those who pass, is Feb Mar May enough to cram? How many CFAI Books are there this time? Six? It took me forever to get through the text and to the question banks, where I felt I got about 75 percent of my preparation, I felt.
Good luck to us all.
 
I took a break after taking the Level I exam in December 2010, because I couldn’t focus on studying without knowing if I passed Level I. I did go ahead and order the Schweser materials for Level II so that I could start studying if I wanted to.
I ended up signing up for the Level II exam right after I received my pass notification and was able to pass Level II in June 2011, though, it was close. The key for me was to focus on the sections that were worth the most points in the last week. My goal was to get all the answers right in the Equity and Financial Reporting sections and I ended up with > than 70 in both of those sections.
I then passed Level III this last June and there is no reason why you can’t as well. You just need to focus and 18 months from now you can be done with this exam.
 
Hi Guys,
I think you should start with your prep for L2 immediately once the results are released (and if you pass, of course!).
With regards to L1 this past weekend, I’m feeling really strange about it - like it could go either way. I also thought the morning session a bit better than the afternoon session. Found myself filled with doubt once i’d answered most of the questions and was looking back at my MCQ answer sheet only to think “but how can there be x number of As, Bs or Cs in a row?!?”. Finished both exams in the time allocated, so hopefully this is a good sign?
Please tell me someone else also feels this way haha??
 
santaslittlehelper wrote:
Found myself filled with doubt once i’d answered most of the questions and was looking back at my MCQ answer sheet only to think “but how can there be x number of As, Bs or Cs in a row?!?”
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I’ve found myself thinking that to. Not specifcally on this test but on any test. I was discusisng with my girlfriend afterwards about consecutive answers. How much of a mind job would it be for a test writer to make every answer the same. All B’s for the whole test. That would be an interesting psych test.
In the end you can’t worry. I was very nervous after my June attempt and found that as the days rolled by I worried less and less. As someone else pointed out you can’t change your answer sheet now. No sense in stressing yourself out over something you can’t control.
Good Luck!
 
Thanks for the responses. I’m leaning toward going ahead with it if and when I get a pass notification.
 
Two things:
* Yes, you can totally wait until getting your L1 results to start studying on L2. There’s enough time. Lots of people do it, and anyone who has passed all three exams in 18 months had to do it. If you want to do some finance reading in the meantime, there are plenty of books out there. Damodaran is a good read.
* L3 is the toughest of the exams.
 
Ah thanks Frisian, i think i will read Damodaran. Just ordered one thru amazon. Hopefully they will ship it soon
Cancel borrowing anything from friend thinking reading L2 material before getting the result will only stress me out even further
 
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