To sign up for Level II?

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lh2162

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I was sure I failed Level I, so when I walked out of the test I made up my mind not to sign up for Level II. I had been told by many people that if I found Level I difficult, I should think long and hard about Level II. I understand that Level II is a whole different animal.
For background, I did not study any econ or finance in undergraduate. I’ve been in the industry for 6 years, in wealth management.
I was surprised to have passed Level I, and even more surprised that I scored 70%+ on all topics except for fixed income, which was 51-70%.
I’m under no delusion that I will have any easier of a time with Level II just because I scored well on Level I, but it does make me think twice about completely writing off taking Level II. Any thoughts would be appreciated.
 
That whole dragon analogy or picture that gets passed around is so dumb.
Put in the necessary time and effort and you’ll be fine. You killed Level 1 anyway, but even if you barely scraped by I’d say it’s a no brainer to sign up. Why did you even get involved in the first place?
 
I thought (naively) that it would be a good way to get exposure to the investment side of the business. I interact with clients on daily basis from a wealth management/financial planning standpoint, which overlaps into investments. I wanted to keep my options open in the long run to move into the investment side. I also happen to work at a firm that greatly values the CFA designation. So here I am!
I’ll admit not the most well thought out approach.
 
Definitely do it.
I scraped by Level I and just scraped by Level II but now am one test away from finishing.
I felt much more confident for Level II than Level I. I walked out of the testing center thinking “THAT was Level II? THAT is what everyone freaks out about on Analyst Forum?”
Admittedly I didn’t pass it by a wide margin (I may very well have set the MPS), but it wasn’t as bad as I thought it would be at all.
 
Cory688 wrote:
Definitely do it.
I scraped by Level I and just scraped by Level II but now am one test away from finishing.
I felt much more confident for Level II than Level I. I walked out of the testing center thinking “THAT was Level II? THAT is what everyone freaks out about on Analyst Forum?”
Admittedly I didn’t pass it by a wide margin (I may very well have set the MPS), but it wasn’t as bad as I thought it would be at all.
Click to expand...
If you SCRAPED BY these tests, then how in the world did you pass your MUCH MORE DIFFICULT econ undergrad tests?!
 
LH - are you having second thoughts about the program?
As I said in a previous thread, I took a year off between Levels 1 and 2 and passed. I was having serious doubts about continuing a career in finance but took the plunge into my level 2 studies anyways. I think you will find the material much more interesting. I used the kaplan/IFT approach - watched the IFT videos and then reviewed the Kaplan notes and did the problems. I think that’s a good way to go.
 
Philadelphia, I am thinking seriously about whether I want to commit further time and effort to this. Of course the fear is that all the effort will go to waste, and I was pretty miserable studying for L1 already (though in retrospect, as with anything, it wasn’t that bad. I had study buddies at work and a supportive firm).
I’m a financial planner at heart, but I would like to understand and speak competently about the investment aspect of our clients’ portfolios, and perhaps one day become a portfolio manager.
I know I don’t want to be an analyst looking at companies, though a macro perspective may interest me more.
Did you decide to commit to a career in finance before taking the L2 plunge?
It’s good to hear that L2 is more interesting – I hope it will be even though I don’t plan on becoming an analyst.
I found the L1 exam to be very different from the Schweser materials - their Qbank and practice exams. I got used to the way the questions were asked using Schweser, which is what I think threw me for the actual exam.
You didn’t use the CFAi books?
Thanks for your input!
 
“I’m a financial planner at heart, but I would like to understand and speak competently about the investment aspect of our clients’ portfolios, and perhaps one day become a portfolio manager.”
This. Based on this statement alone I would say move forward full steam ahead. Portfolio management is front and center in Level II/III (FRA/EQUITY are the biggest sections in level ii, but portfolio concepts show up in virtually every section).
I didn’t touch the CFAi books until the last month, of which I practiced a few blue boxes and EOC questions. IFT videos will cover 95% of the CFAi books (he hand picks good examples from the book and walks through them, I found this to be key to understanding the concepts as the books can be longwinded and confusing).
Im committed to Finance… for now. Deep down im hoping that the CFA designation will be a springboard into a consulting type role.
 
lh2162 wrote:I was surprised to have passed Level I, and even more surprised that I scored 70%+ on all topics except for fixed income, which was 51-70%.
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You shouldn’t be surprised. I notice that you’re studying with IFT: they say that you’ll ace the CFA exams.
 
Oh, right, I did watch some of the free videos, but the bulk of my studying was Schweser. I also used some AnalystNotes, and actually found their questions really difficult. Schweser Qbanks and quizzes/exams were a bit of a confidence booster, maybe too much.
 
S2000 are you recommending IFT for Level 2? In my brief existence on this forum, I gather you are well liked and respected.
 
IFT is good. Used it in L1 and L2. I switched to another provider for L3 because I want to attend live classes in my area. But found IFT to be better. Good thing about him he teaches the curriculum and goes through the BB’s which is important in learning the material and not like others who rely on third party notes.
 
IsThereAny wrote:
Cory688 wrote:
Definitely do it.
I scraped by Level I and just scraped by Level II but now am one test away from finishing.
I felt much more confident for Level II than Level I. I walked out of the testing center thinking “THAT was Level II? THAT is what everyone freaks out about on Analyst Forum?”
Admittedly I didn’t pass it by a wide margin (I may very well have set the MPS), but it wasn’t as bad as I thought it would be at all.
Click to expand...
If you SCRAPED BY these tests, then how in the world did you pass your MUCH MORE DIFFICULT econ undergrad tests?!
Click to expand...
I’m just a really good guesser, I guess.
 
LH - I believe that S2000 was referring to their slogan “STEP UP AND ACE THE CFA”. You’ll ace the exam, as long as you step the f*** up.
 
Cory688 wrote:
Definitely do it.
I scraped by Level I and just scraped by Level II but now am one test away from finishing.
I felt much more confident for Level II than Level I. I walked out of the testing center thinking “THAT was Level II? THAT is what everyone freaks out about on Analyst Forum?”
Admittedly I didn’t pass it by a wide margin (I may very well have set the MPS), but it wasn’t as bad as I thought it would be at all.
Click to expand...
lol weren’t you the one who thought level 2 was easier than undergrad econ tests? Too much adrenaline after passing?
 
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