Level 2 vs. Level 1

L1: 2
L2: 9
L1 is a mile wide and a foot deep. L2 is a mile wide and a mile deep. Very huge leap from L1.
I found it really hard because there are a lot, really a lot of info you have to study.
 
Thanks for answering! stress levels have diminished… slightly.
 
reddyna wrote:
Alex74 wrote:
To sum it up: Level 2 is harder due to the more detailed readings and the different exam format which makes it necessary to cover more or less all the contents with a reasonable depth. I would give level 1 a 4-5 on 1-10 scale and level 2 a 7.
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Good points. I’m a slow reader as I tend to over-analyze the cfa questions, so I’ll have to practice a lot of mocks to make sure I can stay under the time limit. I only had roughly 5-10 mins of time left on L1 on each section. So, does each case study cover a different section? Such as, you’ll have 6 questions on Ethics, and then 6 on Quant etc.? Or do they mix in multiple sections into each case study?
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Each case study covers a different question, no mix. But as far as I can remember the case studies published by CFA Institute on their homepage (and I strongly recommend to work these through) can cover different readings of the same section/topic.
Given that you are a slow reader I also recommend to develop your own strategy to tackle the case studies. In my opinion there are two ways to handle the vignettes. Since the questions are in chronological order (first question refers to one of the first paragraphs, second question refers to a later paragraph etc.) you could first read the first question, start to read the vignette until the paragraph where you find the relevant information and answer the first question, then read the second question and so on. This worked well for me but has the risk that you might overlook an important detail. The other possibility would be to read the vignette first, then to read the first question and to read the relevant paragraph again. This is more time consuming (and in my opinion less effective), but you will lower the risk to overlook something.
And I forgot to mention another thing: The derivatives section seems to be a problem for many candidates. Since I give lectures in derivatives this section was quite easy for me in level 1 and level 2. If this was a problem for you in level 1 you might also have a problem in level 2 since the derivatives section is more demanding in my opinion.
 
someone have said:
level 1 is like a walk in the park during a pleasant morning in autumn
leve 2 is like the first 40 minutes of Saving Private Ryan
 
negra wrote:
someone have said:
level 1 is like a walk in the park during a pleasant morning in autumn
leve 2 is like the first 40 minutes of Saving Private Ryan
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Hahahah. Point made.
 
Thanks. It seems there is a lot of different ways to tackle level 2 since it’s so much different from level 1 in terms of structure and difficulty. I’m going to start studying soon and then get a gameplan for answering the questions as I get closer to the exam. This is great help though. Derivatives was fairly straight forward but got a 51-70 on the exam….not sure what happened there….maybe low on time and had to rush that section. I figure the earlier I start, (September/October) the more time I will have to revise everything.
 
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