Level II CFA forms the second of the three-level CFA exam and is conducted three times a year. To qualify for the level II CFA exam, you need to complete the Level I CFA exam. As all three levels of the CFA exam are conducted through computer-based testing (CBT), you need intensive preparation as the pass rate still stands at 45% over the past decade. If CFA study plans and strategic timing are not found in place, it might lead to different consequences in attaining the most coveted CFA global certification.
In 2020, since the CFA exams got postponed, the results were startling as the students were able to get enough time to prepare. This suggests that to crack CFA level II, time plays a crucial factor in deciding your exam pass rate success. It is better that you subscribe to the Schweser-Miles Original CFA Study package that would help plan your study plan in a more organized and timely manner. The study package is one-of-a-kind in India and is developed by the world’s leading CFA experts and industry practitioners. The customized preparation strategies cover virtual classes, Masterclasses by thought leaders in the field, practice questions, mock exams, reference sheets (printable), exam planners, dashboards, and performance metrics.
The Level II CFA exam compared to Level I is different in format and style, so better be flexible! The exam format for CFA level II shifts from general investment knowledge to specific asset valuation. The detailed and application-based CFA exam syllabus in level II comprises tricky questions where you need to develop strong analytical and retention skills as you need to spend more time on formulae and financial management techniques.
The total level II CFA exam duration is 4.5 hours of two sessions with 135 minutes each, so it is highly recommended to start early. After completing your Level I you may get a buffer zone of 3-4 months. Optimize these months by buying the Schweser-Miles CFA Study Package to identify the gray and familiar topics and areas to balance your preparation time.
A secret part of the Level II CFA exam is you need to pay more attention to FRA topics as they are more challenging than others. A major hurdle in cracking high-stake CFA exams is exam burnout. To overcome this risk for 350 hours over 4-5 months, you need a sustainable timetable that will keep you active and motivated across all three levels.
While taking up the level II CFA exam, try attempting all the questions. Though most of them are vignettes, you need careful reading. Moreover, to analyze them, you need sharp analytical and judgmental skills. The best part is, there is no negative marking for wrong answers, so stay confident and take time in understanding the question.
On the other hand, it can help keep you away from narrowing down the chance of your scores and avoid burning a hole in your pockets. Every time you register for the Level II Exam, on account of the failure of deferment, you need to pay a registration fee. Remember, the fees are subject to change based on the time and slot of your exams.
Following these strategic ideas might help you draw a highway to crack the dreadful CFA Level II Exams which can significantly boost your qualification as well as career progression.