Tip from a L3 candidate

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pokhim

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Hi All,
I passed L1 in December 2012 and L2 in June 2013. I have a few of tips for your last month of studying!
  1. Make sure you do all the practice exams you can! There will be questions that repeat themselves over and over, make sure you learn those questions.
  2. Write/type all the questions that you’re getting wrong or struggling with and learn this everyday on your commute to/from work..or in the toilet. This will be your little bible/tora or whatever.
  3. Please do all the Qbank or as much as possible, with focus on the medium and hard questions. This is essential for Ethics!
  4. Schweser mock exams are pretty much bang-on of the real exam..if you’re hitting 68 - 70% then you’re gonna pass the real thing.
  5. Elan guides are slightly more difficult exams and qualitiative, if you’re hitting 65% + then you’re on your way to a pass.
  6. Do Exam, Review Exam, Update formula sheet, do Qbank on weak areas! Repeat this 8-9 times across all the mocks and you will pass!
 
Much appreciated; valuable stuff!
I’m finishing up the curriculum this week, and have a live practice run with my local CFA Society this Saturday, which I am probably going to bomb since I haven’t had the chance to review earlier topics yet.
However, I’ll be sure to give myself this upcoming month to do as much review and as many practice exams as possible. Do you think this should be okay (I work full-time)?
Also, how long did you wait before starting to study for L2? (I’m assuming you started before you got your results for L1).. How did you make due with your time? What was your strategy?
Depending on how I feel I did on the first one, I might be interested in following the same path…
Thanks!
 
^My .02 - If you don’t expect any major life changes and feel like you’ll have plenty of time to study, doing Level 2 six months later is certainly doable.
If you think you’ll have any hiccups (new baby, moving, new job, increased work hours and responsibilities, etc.), then I’d advise against it.
I passed L1 in December. Then I moved to a new city, bought a new house, started a new, more demanding job, and found out my wife was pregnant. I failed Level 2 six months later with a score band 10. (Bummer.) If I hadn’t had all of these things going on, I’m certain I would have passed.
 
Justin Case wrote:
Much appreciated; valuable stuff!
I’m finishing up the curriculum this week, and have a live practice run with my local CFA Society this Saturday, which I am probably going to bomb since I haven’t had the chance to review earlier topics yet.
However, I’ll be sure to give myself this upcoming month to do as much review and as many practice exams as possible. Do you think this should be okay (I work full-time)?
Also, how long did you wait before starting to study for L2? (I’m assuming you started before you got your results for L1).. How did you make due with your time? What was your strategy?
Depending on how I feel I did on the first one, I might be interested in following the same path…
Thanks!
Click to expand...
I took 2 weeks off before the exam and smashed out close to 120hrs over that time. If you can, then take a week off and try to do as much studying and revision as possible.
I bombed my first mock completely and guessed most of it. But then I reviewed it all and learnt from my mistakes and was able to get 68-73% in all the other mock exams I completed.
For L2; i started in January, before my L1 results.
 
Justin Case wrote:Also, how long did you wait before starting to study for L2? (I’m assuming you started before you got your results for L1).. How did you make due with your time? What was your strategy?
Click to expand...
On Saturday, one of my Level I candidates said that she’d planned to start studying for Level II on Sunday, December 8. I suggested that she wait until at least Monday, December 9, when she’d sobered up.
 
i would take L2 in 6 months knowing i will probably fail and take it as a “practice”, because i don’t know i would be able to pass knowing my study habit.
i didn’t take L1 in December so it’s not a problem for me, but after L1 (or any exam) i feel too exhausted to start again right away, not to say that starting L2 prep in december is too late (certainly is not, because that’s when i start when i passed mine), but if i have already been studying for 3-4 months intensely prior to that, i wouldn’t be able to have hte energy left through April and May.
That’s obviously from my perspective, some people can study that intensely for 9 months straight, but i know i can’t!
 
i have my CA Final coming up in May after i take level 1 in December and havent even started yet!
 
S2000magician wrote:
Justin Case wrote:Also, how long did you wait before starting to study for L2? (I’m assuming you started before you got your results for L1).. How did you make due with your time? What was your strategy?
Click to expand...
On Saturday, one of my Level I candidates said that she’d planned to start studying for Level II on Sunday, December 8. I suggested that she wait until at least Monday, December 9, when she’d sobered up.
Click to expand...
I did what you suggested her… I did Level I test on first saturday in december. Bought level ii books from a candidate on sunday. Started pounding the books that monday, except I don’t think I was completely sober yet ;)
 
India_28 wrote:
i have my CA Final coming up in May after i take level 1 in December and havent even started yet!
Click to expand...
another ca final guy..why are we all into cfa?
 
pokhim wrote:
Justin Case wrote:
Much appreciated; valuable stuff!
I’m finishing up the curriculum this week, and have a live practice run with my local CFA Society this Saturday, which I am probably going to bomb since I haven’t had the chance to review earlier topics yet.
However, I’ll be sure to give myself this upcoming month to do as much review and as many practice exams as possible. Do you think this should be okay (I work full-time)?
Also, how long did you wait before starting to study for L2? (I’m assuming you started before you got your results for L1).. How did you make due with your time? What was your strategy?
Depending on how I feel I did on the first one, I might be interested in following the same path…
Thanks!
Click to expand...
I took 2 weeks off before the exam and smashed out close to 120hrs over that time. If you can, then take a week off and try to do as much studying and revision as possible.
I bombed my first mock completely and guessed most of it. But then I reviewed it all and learnt from my mistakes and was able to get 68-73% in all the other mock exams I completed.
For L2; i started in January, before my L1 results.
Click to expand...
That’s right and can really help - taking some time off before the exam. Personally, I’ve read this blog post - http://www.timeprep.me/cfa-exam-prep-last-month/ - and will try to implement some of the advice … seems pretty useful!
 
Killer advice. I’m really frustrated with my intial scores – 50 to 60%. Planning on taking at least 4 more exams and reviewing my answers. Amazing how much I forgot since I finished the readings. I hope I can pass…
 
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