Grade 2 is the hardest as compared to others. Level 2 is entirely practical and full of valuation principles, including asset valuation, private businesses, private equities, rental properties, and, of course, equities and securities listed.
Of course, quants, i.e., linear and multiple regression, are the required field where individuals face difficulties. Still, it is one of the scoring and simple portion if the technicality involved in this portion is cracked once. And it is one of the most exciting areas. Before starting with quants, I would recommend you go through some lectures (if you don't have a statistical academic background).
You can get to know many realistic approaches to valuation and technical terms used by business professionals. You're going to learn several formulas that are conceptual, and you're going to love studying those ideas.
What is the format of the CFA ® exam Level II?
A multiple-choice exam, like Level I, is Level II of the CFA exam. These questions are split into question sets, and you will be checked in the morning and a half in the afternoon on half of the item sets. You will be given data for each item collection, and the questions will enable you to use the information provided to solve them.
What topics are being tested at Level II?
You will be checked on the following topics while sitting for Level II of the CFA exam:
- Legal and Technical Standards
- Quantitative methods
- Financial Statements and Evaluation
- Corporate Finance
- Savings in equity
- Fixed Income
- Investments in derivatives
- Alternative Investments
Management of Portfolios and Wealth Management
The general opinion is that you have to spend a minimum of 300 hours of training for Level II. Respondents reported spending an average of 328 hours preparing for Level II of the CFA exam in the CFA Institute June 2017 CFA Applicant Survey. Candidates would usually spread the time over six months, averaging around 12.5 hours per week. Some applicants, however, do not start training as early as possible and compact their study time into a shorter window. How intense the research schedule depends heavily on how early you start to plan.
How severe is the exam?
Don't let anyone tell you that every CFA exam level is fast. All of them need concerted research and planning. That's because the charter of the CFA is a complete classification intended to prove mastery.
How will Level II be graded?
Machines and shareholders conduct CFA exam grading. A technique is then used by the CFA Institute to determine a minimum passing score applied to each test. All the specifics are in our article on how the CFA exam is assessed.
What is the CFA exam pass rate for Level II?
The pass rate was 44 percent for the June 2019 Level II CFA test. According to the CFA Institute, only 20 percent of candidates who start the program eventually receive the charter. To cross the finish line, planning is crucial. We also outlined other encounters with candidates, and some of the common pitfalls people encounter to assist you along the way.
Practice Tests Level II
The practice is ideal mainly when practicing for the rigorous 3-level CFA exam challenge. It's hard enough to access all the content you've learned. On exam day, you don't need any surprises. These four carefully designed online practice exams will introduce you to the format you will face on exam day and instill the confidence you need.
With the four full-length tests in Practice Exams, enforce your learning, assess your progress, and create trust with CFA level 2 practice questions.
Identify possibilities for improving areas of trouble and completing your knowledge base.
Prepare, train, Perform ® technique ensures the concepts and skills you need to be effective are thoroughly understood and perfected.
You can compete and bring your talents and skills to the test that you have studied and trained for the Level II CFA Program exam. The Live Schweser Mock Exam is similar to the real CFA Program exam in terms of structure, complexity, and duration. The CFA mock test series helps improve your testing abilities, recognize your weak areas, and show your mastery of the CFA test series for level 2. Afterward, with our Mock Exam Tutorial videos, view answer explanations, check your score compared to those of other applicants, and dig deeper into each question.
The next step of the 'CFA charterholder' certificate is the second stage of the CFA exams. The CFA curriculum aims to train and assess investment management and financial analysis professionals. Level II examinations take place once a year in December, and pre-registration is mandatory. Exams are held simultaneously in English only around the world.
There is 120 multi-choice CFA level 2 practice questions in the exam (20 sets, and each of them includes six items). The length of each collection is 2.5 pages, and the average length is 1.5 pages. Each collection is a mini-case and deals with the subject in question. For that reason, 6 hours will be allocated: 3 in the morning and 3 in the afternoon, around 1 minute for 1 question. The subjects for the morning session do not conflict with those for the afternoon session.
It's not easy for Level I, but Levels II and III are much more challenging. "There are no passing gradations for a test, only" passed "and" not passed. About 300 hours of active study is the average time for exam preparation. Within 60 days at the latest, an applicant will find out about the test results.
If you're a daily 300 Hours reader, you'll know that a very critical part of learning to pass the CFA exams is practice examinations. Even though you do not get a great score the first time, practice is the key to the examinations.
As a Level I nominee, when I got six CFA practice questions to sink my teeth into, I felt I was going above and above. I didn't manage to complete them all: the official Level I tally of practice exams was five practice exams.
This number was about to be averaged by the better applicants, plus there was a free mock exam offered by the CFA Institute that should have been wholly prioritized.
This post helps you avoid one of the fundamental errors that many candidates make, using research that we have done with CFA Observations, and to know exactly how many you can do.
Why do I need to practice for exams?
As we've discussed before, CFA test series are essential for CFA best exam prep. :
Help you to understand the main testable topics.
Getting used to the style of the exam
Gives you an excellent way to preserve the insights you've gained
You will probably not get the highest grades on your first practice test, but don't get discouraged. As long as you carefully go through the comprehensive responses and analyze concepts you are unfamiliar with, you will continue to improve your scores and timing. Read this discussion by @Sarah in our Forum for a useful practice exam post-mortem reference. You may also participate for free and pose a question or launch a debate!
So how many practice examinations are attempted by anyone else?
We extensively discuss this issue in CFA Perspectives, but we will go through some of the lessons here. Passing candidates average slightly more than four complete sets of Level I practice tests, and the number increases as you raise the CFA levels.
Don't make a mistake! Unlike most of the tests you've had in your life, the Level II CFA exam is different. Historical pass rates have hovered between 45% and 50%, which shows just how comprehensive the test can be. According to the CFA Institute, only 20 percent of candidates who start the program eventually receive the charter. As such, success requires sacrifice and extensive planning.
Our CFA best mock test series is designed to help you understand the curriculum, including the exam format, maintain and master it. You can be assured of useful and proven study material rich in exam tips and tricks with hundreds of distilled item sets prepared by our team of CFA charterholders and instructors.
To reflect the new CFA Program curriculum, all our content is updated continuously.
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By registering a free account, check out ten free test item sets (60 practice questions). Then, let the famous advanced built-in analytics program of AnalystPrep take over. You will see your progress on your dashboard, evaluate your performance using a personalized timeline, and classify the best and worst chapters. Plus, you will be able to compare your results with all other applicants for the Level II CFA Program that uses the platform of AnalystPrep.
No exact formula exists; thorough preparation is the only way to pass the Level II CFA test. However, by preparing smartly and using all the available resources to gain an advantage over other applicants, you can also improve your chances of passing the Level II CFA test.