The Ultimate Guide to Conquering the CFA Level 2 Exam

A comprehensive guide to passing the challenging CFA Level 2 exam, written by an expert in the field. Learn tips and strategies to help you succeed and become one step closer to becoming a charterholder.

The Ultimate Guide to Conquering the CFA Level 2 Exam

As an expert in the field, I have seen many candidates struggle with the CFA Level 2 exam. It is often considered the most difficult exam in the series, and for good reason. But don't let that discourage you - with the right approach and preparation, you can pass this challenging test and become one step closer to becoming a charterholder. First and foremost, it's important to understand that failing the exam does not mean you have failed altogether. In fact, it means you are still in the starting position.

On the other hand, passing the exam means you are almost done with the entire CFA program. You only have one more exam left, which is less than a year away. And once you pass that final hurdle, you will practically be a charterholder. One candidate shared his strategy for tackling level 2 questions - he would first focus on the 50% of questions that he was confident he could answer correctly. This is a smart approach, as it allows you to build confidence and momentum as you work through the exam. Employers also recognize the effort and dedication required to pass Level 2 and see it as a credible testament to a candidate's abilities.

Unfortunately, the CFA Level 2 exam has a reputation for being the most difficult in the series, with a vast amount of material to cover. This is especially true for certain sections, such as economics, which can be challenging because the CFA version of the topic is often different from what is used in real life. However, with proper preparation and guidance, you can overcome this obstacle and pass the exam with flying colors. This article serves as a comprehensive guide to level 2 of the CFA. It simplifies the complex subjects covered in the exam and provides an easy-to-understand roadmap to help you focus on what matters most to pass and conquer this difficult challenge. So why is level 2 considered more difficult than level 1? Simply put, it is more intense.

The depth and details covered in level 2 are greater, as the exam focuses more on application rather than just theory. While the CFA Institute's study materials are a necessary resource, they are not sufficient on their own to pass the exam. The CFA level II and III exams are generally considered to be equally challenging. However, level 2 is divided into two exams, each containing 20-30 bullet points with a total of 88 multiple-choice questions. This makes it more demanding and requires a thorough understanding of the material. Some study materials include a Level 1 upgrade booklet specifically designed to help you prepare for level 2.I highly recommend keeping this resource handy.

Unless, of course, you are like Sophie and are attempting to pass all three levels in just 18 months - in which case, you can complete level 2 in just 4 months with determination and hard work. The bad news is that many financial positions now require candidates to have passed level 1 of the CFA exam. However, passing level 1 alone is not enough. Level 2 is quite challenging, but with the tips and strategies outlined above, you can start with a solid advantage and increase your chances of success. It's worth noting that the CFA Institute does not publish passing scores for its exams, as they may vary from year to year. However, it is believed that the passing score for CFA level I is around 70%.