Second attempt?

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skpatnala

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If anyone in the forum are attempting second time at Level 2, please share your experiences of your first attempt and what you would do differently for success?
Thanks
Sai
 
Wouldn’t it be more helpful to get input from people who actually passed the test?
 
First attempt- used schweser as primary study source.
Come exam time. I got really nervous that the questions were not like Schweser questions and “freaked.” Looking back I should have taken a deep breath and continues to do my best, but I kept thinking “I used Schweser 100% and screwed myself”
So…i failed band 8. If i didnt have that mental breakdown I think I could have passed.
Second time around..
Used CFAI text as primary. Takes more study time so total study time by June was around 6-800 hours. Felt more comfortable taking the exam. Breezed through it with confidence. Passed but I didnt kill it.
My suggestion:
Consider the amount of time you have available to spend on this exam. People with kids and a family need to cut into their sleep and sacrifice more than single test takers. If you have the ability to sacrifice sleep, lose an hour or two per night and focus on CFAI. Only resort to Schweser at the end if you have every single CFAI EOC question down pat. Good luck.
 
I agree with SkipE99’s observations. Thank you for sharing them. I wish I had read them last year.
Last year I started late (January) and focused my efforts primarily on the Schweser materials, which I used exhaustively, in order to get through the curriculum. I did do all the end of chapter problems in CFAI texts but did not read the texts. Mistake! Before I took the test I felt I needed at least an extra 4-6 weeks for review and praticing the test-taking format. I too finished in band 8. There is just no substitute for the source materials. Schweser is good but it is not enough.
This time I have started much earlier. I am making my own notes (last time I just made index cards of formulas/ratios). I am reading all the CFAI texts and spending more time making sure I understand the problems that I miss. I am using the Schweser materials as extra practice and review. My husband quizzes me for 15 minutes every night on formulas. I have planned for 10 weeks of final review, so even if there are contigencies (some areas take too long, kids have the flu, etc.) it should be adequate. I am also planning to take a Schweser 3 day review course.
I think a study group would be helpful and motivating but I haven’t found anything yet in my area.
Re: balancing family, professional responsibilities and study time – It’s always been early morning for me, too. I get up between 4 and 5 am so I can have quiet, uninterrupted time first thing in the morning. I am not working full time but my kids are little, so there is not much time during the day to study. Last year my youngest child still woke up quite a lot at night so by the time June arrived I was so sleep-deprived. This time I am trying to balance things better: start earlier, study more thoroughly, get enough sleep and exercise.
Good luck, Sai. Hope to see you in the Level 3 forum next year!
 
Thank you all. I did search through the forum and found lot of valuable suggestions around study modes.
Balancing family has been difficult even at Level 1. I am not expecting any different for L2 or even L3.
 
base on schweser, but strolling through CFAI material definitely. read carefully CFAI material for the chapters you do not know well. then take as many simul exams as possible. I passed with 2 below 70% and all other 8 above.
Best of luck
 
I used the Stalla Enhanced Sytem (i.e., with video lectures) and clocked over 350 hours for the 2011 Level II Exam, and still failed band 6. I started in January last time and I think I didn’t have enough time. I’m amended my schedule this years as follows:
24-Oct Ethics
31-Oct Quantitative Methods
7-Nov Quantitative Methods & Economics
14-Nov Economics
21-Nov Review Week
28-Nov Financial Reporting & Analysis 1
5-Dec Financial Reporting & Analysis 2
12-Dec Financial Reporting & Analysis 2
19-Dec Financial Reporting & Analysis 3 and Corporate Finance 1
26-Dec Corporate Finance 1 & 2
2-Jan Review Week
9-Jan Equity Investments 1 & Alternative Investments
16-Jan Equity Investments 2
23-Jan Equity Investments 2 & 3
30-Jan Equity Investments 3
6-Feb Review Week
13-Feb Fixed Income I
20-Feb Fixed Income II
27-Feb Fixed Income II
5-Mar Review Week
12-Mar Derivatives I
19-Mar Derivatives II
26-Mar Derivatives II
2-Apr Portfolio Management
9-Apr Final Review Week 1
16-Apr Final Review Week 2
23-Apr Final Review Week 3
30-Apr Final Review Week 4
7-May Final Review Week 5
14-May Final Review Week 6
21-May Final Review Week 7
28-May Final Review Week 8
2-Jun Exam Day
In addition to spending more time and starting early, I plan to read the CFAI books (not just Stalla material) and review what I’ve leaned more as I go.
 
Started late February. Did barely 240 hours using basically Schweser. Failed band 7 (after annoying investigation and waiting till late August).
This time I will just study like I should.
 
Fdez-
Disappointing to hear you didn’t make it, especially after all you went through. I’m sure you’ll nail it next time. Best of luck.
 
I had studied for around 600 hours the first time from Schweser and made hand written notes (280 pages…no kidding). I failed in Band 10. I realized that I was focusing more on the material and never gave importance to the practice exams…and now I feel it was the worst decision. This time I am again going to read from Schweser and My notes from last year but solve all EOC questions from CFAI books because the Schweser EOC questions are way to easy and gives you a wrong impression about your preparation.
One more thing that I might do depending on the time I can allocate is that before I start a new reading I will quickly review the last two readings that I have already read. That way I might have already read the same material many times and it will be very easy to recollect the stuff in the exam.
 
Did schweser failed band 10. But no blame to schweser. I only gave 3 months to L2, perhaps if I had gone for CFAI my band would have been worse. Haven’t yet restarted as I am very busy with my professional commitments. Want to start asap. Will go for Schweser again and would do all the EOCs from CFAI.
I think for L2 practice is the key, so will try to practice as much as possible and try to keep at least 45 days for revision and practice exams.
Good Luck all
 
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