Clearing CFA level 1 can fill you with joy and confidence. But don't be overconfident because Level 2 is much deeper and hard to pass than Level 1. Extreme hard work and a good strategy can definitely help you clear CFA level 2 in first attempt.
The CFA(Chartered financial Analyst) program is a professional designation given by CFA institutes to investment and financial professionals. It is a globally recognized graduate level curriculum that provides strong foundation for investment industry concepts. To earn CFA charter you need to qualify 3 exams, Level 1, 2 and 3. Curriculum of CFA level 2 is tougher than CFA level 1 which makes it little harder to qualify. Here I give you some tips to crack CFA level 2 in 1st attempt :
The question format is itemset : a case study with 6 questions, 120 questions in total over 20 item sets, 6 questions per item set. 10 item sets in morning paper of 3 hours and remaining 10 sets at evening paper of 3 hours.
Weightage: Best CFA coaching institutes in Mumbai advice you to give priority to the subjects having more weightage in item set questions. Ethics, financial reporting and analysis, equity investment and fixed income corresponds to 50-80% of the weight.
In CFA, every level is linked to with another level hence you need to be very clear about basics of CFA level 1 exam.
CFA does not have individual section passing scores. Pick your strongest sections first, it will give you more time to focus on weaker sections later and will build your confidence too. Try to solve at least 70% of each section in order to pass.
CFA 2 is not a reading comprehension exam. So don't waste your time on improving your reading comprehension skills.
Level 2 is more calculation extensive than level 1. Work on formulae and be perfect at number crunching.
Level 2 exam is conducted only once a year. If you fail you have to wait for whole year for next exam. Hence try to clear it in 1st attempt. Best CFA coaching institutes at Mumbai can help you crack this exam in 1st attempt.
In level 2 case studies can be large hence develop speed reading skills. 1-2 page long case studies will be given to answer 6 questions in 18 minutes or less.
Practice with very difficult questions.
You need to spend double the amount of the time you spent on studying for level 1.
It is recommended to attempt at least 2-3 mock exam to become comfortable with the pattern of exam.
Its CONCEPTS is a coaching institute that provides training for all levels of CFA, FRM and CPA. Its CONCEPTS aims at building stronger foundation by developing understanding at conceptual level among the students.