L1 vs L2 Difficulty - Or Lack Thereof to this Point

B

bnoone

New member
Joined
Jan 25, 2015
Messages
0
Reaction score
0
I started studying for L2 about three weeks ago, and have finished Quant, Econ, and half of FRA. Please don’t construe this as arrogance or cockiness - I probably had to work harder than 75% of the candidates in L1 to make up for what I lack in intelligence - but so far, everything seems like review, or 90% review and 10% expansion. I know L2 is all about application and understanding, but to this point, that has seemed to mean that the problems can be reasoned-through relatively easier than in L1. Is that just the nature of the sections I’ve studied to this point or have others (L3 candidates and charterholders) find that true for all of L2? Does the real difference and difficulty come with the later subjects?
Thanks, all. Looking forward to your insight and experience.
 
Can you lend any insight on whats helping you move so quickly?
L2 is hitting me surprisingly hard. Ive always been great at logic’ing my way through material but I have a terrible memory - making me think L2 would be comparatively less of an obstacle.
I am really struggling to keep a reasonable pace. Right now I actively read (keeping skeleton notes in margins), working blue boxes as I reach them. I keep a word doc open where I am writing my own notes for summary based on LOSes (700-1500 words a reading) as I finish logical breaking points in the readings/questions. Its helping me understand and retain topics but is taking far too long to complete. I need to readjust my pace and strategy but, unfortunately, that final lightbulb flashes in my mind where I feel I truly understand the topic right around when Im finishing my process.
Strictly using the CFAI material but thinking about changing that strategy.
 
well OP, sounds like Level 2 is a total breeze for you. Is so, that is great news.
 
Look, I’m not expecting this will continue; I guess I should have been a little more explicit about the fact that L1 was ridiculously difficult for me. I should have just asked which subjects are expanded upon the most from L1 to L2 - that’s all I’m getting at.
 
hock wrote:
Can you lend any insight on whats helping you move so quickly?
L2 is hitting me surprisingly hard. Ive always been great at logic’ing my way through material but I have a terrible memory - making me think L2 would be comparatively less of an obstacle.
I am really struggling to keep a reasonable pace. Right now I actively read (keeping skeleton notes in margins), working blue boxes as I reach them. I keep a word doc open where I am writing my own notes for summary based on LOSes (700-1500 words a reading) as I finish logical breaking points in the readings/questions. Its helping me understand and retain topics but is taking far too long to complete. I need to readjust my pace and strategy but, unfortunately, that final lightbulb flashes in my mind where I feel I truly understand the topic right around when Im finishing my process.
Strictly using the CFAI material but thinking about changing that strategy.
Click to expand...
I’m just using the Schweser material to this point. For each reading, I read through the material, watch the associated video, do the concept checkers, and create a quiz. I try and go back and make handwritten notes on everything I highlighted, and then attend the online classes on Tuesday nights. So, I’m going through the material three times with practice in between. If what you’re doing is working, just keep doing it - I’m sure I’ll have to adjust my strategy for different subjects. Good luck.
 
Quant and FRA are definitely the most difficult for me. With FRA, it’s about memorization which I will do the second time around.
 
I started in early Jan, and I’m through FRA. Thus far, I’d say it’s about 30% review and 70% new material (ignoring ethics, which was essentially a carbon-copy of L1 material, plus two additional short sections of new material).
Regression (which wasn’t covered at all at in L1, if I recall) in QM was virtually all expansion. There was some overlap with hypothesis testing, but the majority of it was new.
A good amount of FRA has been new material (acquisition accounting and foreign sub. accounting, namely).
 
Spot on OP. I am almost done with all my l2 readings, and I dont think its difficult. Though I think Level 1 was difficult for me.
 
Just posted about this actually - missed seeing your post.
 
Understand what you’re reading is one thing OP. Retaining 90% of the material and breezing through the mocks with 80% is another.
Good luck
 
bnoone wrote:
I started studying for L2 about three weeks ago, and have finished Quant, Econ, and half of FRA. Please don’t construe this as arrogance or cockiness - I probably had to work harder than 75% of the candidates in L1 to make up for what I lack in intelligence - but so far, everything seems like review, or 90% review and 10% expansion. I know L2 is all about application and understanding, but to this point, that has seemed to mean that the problems can be reasoned-through relatively easier than in L1. Is that just the nature of the sections I’ve studied to this point or have others (L3 candidates and charterholders) find that true for all of L2? Does the real difference and difficulty come with the later subjects?
Thanks, all. Looking forward to your insight and experience.
Click to expand...
If you thought L2 quant was the same or almost the same as L1 then you must have not read it very closely. The quant material is at least 90% new in L2, probably more like 99%. FRA does repeat some stuff like inventory accounting and leases but most of FRA is new as well in terms of pensions, currency trans etc.
 
The readings r not difficult but the EOC questions are…. They r so long n most of them need long calculation…r we expected to perform this kind of calculation in real exam? I’m on corp finance now…
 
Same boat as you Goodearth. I am doing OK getting through the readings but the EOCs are hitting me hard. I am finding myself having to flip back through the pages alot more than when I was studying level 1 materials. FRA and Quant are very difficult sections that seems striaght forward at first but then you get to the EOCs…. aw jeez
 
But it guess it’s like playing a. Sport…..it gets better…but really hv too spend more time on each reading…WE WILL GET THERE!
 
You must log in or register to reply here.
Back
Top