As a seasoned expert in the field of finance and investments, I have seen many aspiring professionals struggle with the level 2 CFA exam. It is a challenging test that requires not only a strong understanding of the material, but also effective study strategies. After years of experience and helping numerous candidates pass the exam, I have compiled a list of top 10 tips that will help you master the economics section of the CFA level 2 exam. The first and most important tip is to take as many practice tests as you can. This will not only help you familiarize yourself with the format and structure of the exam, but also identify your strengths and weaknesses.
Additionally, make sure to answer all of the end-of-chapter (EOC) questions and revisit them when taking practice tests. These questions are like mini-versions of the actual exam questions and will give you a good idea of what to expect. While using QBank for L2 may seem like a good idea, it is actually not very useful. The best way to prepare for the exam is by taking simulated exams offered by the CFA Institute. These exams provide realistic test conditions and can greatly benefit you in your final weeks of study. Now that you have a better understanding of how to study effectively, it is important to create an efficient study plan for the CFA Program.
The level 2 exam focuses more on applying concepts learned at level 1 and evaluating different asset classes. Therefore, it is crucial to reorient your approach to studying for this level. In order to help you with this, my colleague Mr. Tolia, CFA, has analyzed the CFA level 2 curriculum and identified the main differences between levels 1 and 2.He has also shared some study strategies that have proven to be effective for many candidates. Before attempting the level 2 exam, it is important to meet the eligibility requirements set by the CFA Institute. This includes having a bachelor's degree or equivalent education and passing the CFA Level 1 exam.
It is also worth noting that those who are studying for CFA certification are highly intelligent, motivated, and determined to pass the exam just like you. One of the main reasons why level 2 is more difficult than level 1 is because it goes into greater detail and requires a deeper understanding of the material. This is why it is crucial to use last-minute study tips to stay motivated and prepared in the final weeks leading up to the exam. One effective way to ensure that you cover most of the topics on the CFA exam is by using practice questions. The CFA Institute provides a mock exam, and you can also purchase additional ones from test preparation providers such as Schweser. As an expert, I can help you break down your study routine into specific weekly tasks based on your exam date.
I can also provide detailed feedback after mock exams and ultimately help you master the CFA curriculum. In my experience, focusing on end-of-chapter questions from the CBOK has been very helpful in preparing for the exam. Additionally, I recommend taking a mock CFA exam one week before your actual exam to simulate test conditions and get an idea of your potential score. The level 2 exam covers a wide range of topics and requires not only a strong understanding of concepts, but also the ability to apply, analyze, and explain your findings. It is important to note that the CFA Institute does not endorse or guarantee the accuracy or quality of products and services offered by test preparation providers like Kaplan Schweser.
