Critique my strategy - L2 First-time taker

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lelouchtherebel

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Hi all,
Would appreciate it if experienced L2 test-takers (whether you’ve passed or failed) could critique my strategy/timelines:
- Am studying using Schweser notes. Have got an undergrad finance/investments background.
- Plan on being done with the “studying” in the middle of April (“studying” - reading through the Schweser notes & doing the Schweser concept checkers).
- Will then do practice questions and exams (from Mid-April). This will be done on a full-time basis (taking leave for 1,5 months). Should I take more leave or is 1,5 months leave sufficient?- Practice Qs & exams constitutes:
CFAI GB (formerly BB)
CFAI EOC + sample exam + mock exam
Schweser QBank + some Schweser mock exams.
Please let me know (constructively) what you think about my strategy (timelines, materials used, practice material, should I take more leave)?
 
1.5 months leave after months of study? I think that’s excessive - you’ll be fine.
 
I mean, if you are taking 1.5 month off, you definitely have sufficient time to pass.
as long as you truly study while you are off, i think any strategy will work?
 
I appreciate your responses guys.
I think I’m going to stick to the 1,5 months leave (have got leave carried over from last year). Hope it all works out in the end :)
 
Seriosly. If they can do without you for a month and a half, they can do without you.
 
lol. If you study for Level 2 the same way you studied for Level 1. You will fail. Someone on this forum said that and I thought it was valuable advice to share.
 
My recommendation would be to finish reading sooner, and give yourself more time to absorb/integrate/review/practice the concepts. Leave wide margins of error because it’s easy to burn out and overrun your schedule. Hence, aim for an earlier ‘finish time’ and give yourself ample rest and recovery time in your final run in. No point of showing up to the exam exhausted.
 
This makes sense to me, but how exactly should you go about it differently? (i.e. more time per study session?, doing more practice questions, like Qbank, as you go?, taking careful notes as you read through the material?, finish initial read through earlier?, do more practice tests?)
My point is that I have no doubt that you are correct: Level 1 and Level 2 need to be approached differently. I have heard multiple people in person and on this forum say so. But HOW should one go about acting on this advice? What would you (or anyone reading this post who has taken level 2) do different or the same? I feel like too often people say “yeah wait until level 2” or “good luck trying to do it that way this time” with too little insight into HOW I go about making this happen. Thanks in advance for any help! I appreceiate and am open to all feedback!
 
If you are serious about passing, start with the CFAI text. No gimmicks, shortcuts or excuses. Just open book one, page one, read it and keep going (including the EOC Qs).
 
Something I found to be helpful is trying to answer as many questions as you can on the forums. If you can explain it well to someone else then you got it down pretty good. It was also a good way for me to fine tune my knowledge and correct anything I was wrong about. Also the same questions come up over and over once it gets closer to the test date.
 
yodacaia wrote:
If you are serious about passing, start with the CFAI text. No gimmicks, shortcuts or excuses. Just open book one, page one, read it and keep going (including the EOC Qs).
Click to expand...
Best advice.
 
Personally I would do all Schweser mocks rather than some Schweser mocks, even if that means skipping the Q-Bank altogether (never used it and didn’t hear great things about it).
For Level 2 I first went through the Schweser books (readings + concept checkers and tests), was done with that late March, then did CFAI examples and EOC questions for FRA and equities only (would have loved to do it for all the sections if I had more time, so I like your plan there), some reviews of hard-to-get-areas, and 9 full practice tests.
That was over the course of 4 months while working full time, so I had to be pragmatic and couldn’t do absolutely everything. Since you have more time you have the possibility to do more, which is great. I don’t know the specifics of your work situation and how important this exam is to you relative to your job, but would agree with others that you could probably still do well with less time off.
Most of us are just jealous because it was never an option for us :-) so just ignore us and take the time if you think this is the right move for you, but also keep in mind that a full schedule and some deadlines can often help increase productivity. Even if you were to “only” take 2 weeks in April or May, work, then “only” take another 2 weeks before the exam, you’d still be better rested and probably more prepared than most candidates. But hey - whatever you need and whatever works for you (and your boss).
 
MOCK EXAM IS ON TOP OF PRIORITY LIST!!!!
Do as many as possible, even older ones (within 5 years?)
 
I think you should go for the CFA curriculums, and use shweser at the same time to check the LOS’s. Ya, taking leave is not necessary, all you need to do is do 4, 5 mock exams (assuming you have done EOC’s as you read).
 
I appreciate everyone’s feedback.
I spoke to my boss about this and I think I’m going to change my strategy. 6 weeks is pretty excessive, but on the other hand nobody has ever told me anything good about level 2. So I think I’m going to take 4 to 5 weeks leave (spread out between now and the exam - so roughly 1 week every month).
That way I won’t burn out of straight studying 24/7 for so long.
 
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