Guys,
let me give you a quick background and then ask my questions.
I have a BS in Finance and will finish my MBA this summer. I took Level 1 in December and passed with about two weeks of studying using Schweser books (except for ethics. I used CFA books for that section). Level 1 was basically a summary of all the classes I took in college.
For Level 2 I studied about one week using Schweser books and can tell you that I did not pass. A couple days before I took the exam I already knew that I won’t be able to pass it, but since I paid the fees to take the exam I took it as a practice run. There were a couple vignettes where I literally had to put down my most educated guess on every question. I thought about leaving during lunch but decided that I wanted to find out whether my knowledge in FI and Derivates already puts me in 70%+.
Next year I plan to pass Level 2 and this time I want to actually study. My plan is to start studying 45 minutes each day starting on July 1st. I really don’t want to read one Schweser book per day again.
I opened the CFA books (other than ethics) for the first last tonight and looked over a few pages. I was pleasantly surprised, because I have heard that they are really dry, but I cannot confirm this as of now (I looked over a few pages in Fixed Income, FRA and Derivatives).
My plan is to first read the CFA book volume 1 and then the Schweser book. After that I will take the EOC questions in the CFA book. I plan on doing it in this order for each volume. Would you discourage me from using this tactic? If so, why?
I estimate that it will take me approximately 150 hours to finish readying and understanding all the books. What do you guys do for the other 150 hours to reach 300 hours? Just hammer through practice questions/exams? Or do you study specific formulas or accounting rules (i.e. differences between GAAP and IFRS)? Or both?
The ethics section never really changes so it is safe to start before they release the new curriculum or am I mistaken?
I appreciate any input. Thank you!
let me give you a quick background and then ask my questions.
I have a BS in Finance and will finish my MBA this summer. I took Level 1 in December and passed with about two weeks of studying using Schweser books (except for ethics. I used CFA books for that section). Level 1 was basically a summary of all the classes I took in college.
For Level 2 I studied about one week using Schweser books and can tell you that I did not pass. A couple days before I took the exam I already knew that I won’t be able to pass it, but since I paid the fees to take the exam I took it as a practice run. There were a couple vignettes where I literally had to put down my most educated guess on every question. I thought about leaving during lunch but decided that I wanted to find out whether my knowledge in FI and Derivates already puts me in 70%+.
Next year I plan to pass Level 2 and this time I want to actually study. My plan is to start studying 45 minutes each day starting on July 1st. I really don’t want to read one Schweser book per day again.
I opened the CFA books (other than ethics) for the first last tonight and looked over a few pages. I was pleasantly surprised, because I have heard that they are really dry, but I cannot confirm this as of now (I looked over a few pages in Fixed Income, FRA and Derivatives).
My plan is to first read the CFA book volume 1 and then the Schweser book. After that I will take the EOC questions in the CFA book. I plan on doing it in this order for each volume. Would you discourage me from using this tactic? If so, why?
I estimate that it will take me approximately 150 hours to finish readying and understanding all the books. What do you guys do for the other 150 hours to reach 300 hours? Just hammer through practice questions/exams? Or do you study specific formulas or accounting rules (i.e. differences between GAAP and IFRS)? Or both?
The ethics section never really changes so it is safe to start before they release the new curriculum or am I mistaken?
I appreciate any input. Thank you!