As a CFA expert, I have seen many candidates struggle with the quantitative methods section of the CFA Level 2 exam. In this post, I will share my insights and tips on how to improve your performance in this challenging section.
Understanding the CFA Level 2 Exam
The CFA Level 2 exam is a computer-based test that consists of 88 multiple-choice questions, divided into two sessions of 44 questions each. It is important to note that the CFA Institute does not endorse, promote, review, or guarantee the accuracy or quality of products and services offered by Kaplan Schweser. When you register for the CFA program, you gain access to the learning ecosystem, a comprehensive digital learning platform that includes the entire curriculum, over 1600 practice questions, and other study tools. This is a valuable resource that you should take full advantage of.Preparing for the CFA Level 2 Exam
Now that you have access to all the study materials, it's important to have an effective study plan in place.As a general rule, you should aim to spend an average of 90 seconds on each question when practicing CFA Level 2 questions. One of the best ways to prepare for the exam is by taking mock exams. These exams simulate real exam conditions and can help you identify your strengths and weaknesses. It is crucial to focus on the CFA Institute's Learning Outcome Statements (LOS) when taking mock exams as they outline exactly what you are expected to do on test day. The LOS and basic concepts are based on the candidate's body of knowledge, developed by the CFA Institute. It is essential to understand the differences between Level 1 and Level 2 as the Level 2 exam is a significant step up from the Level 1 exam. It's also important to note that the test weightings may vary slightly from year to year, so it's crucial to be clear on what the weights are for the specific exam you are taking.
I recommend taking a mock CFA exam one week after the current exam to get a feel for what it will be like on test day and what your score might be.
Creating an Effective Study Plan
To prepare for the CFA Level 2 exam, you should aim to complete 80 to 100 study sessions over six to nine months. Most successful candidates prefer to study for a few hours almost every day of the week rather than cramming all their studying into a few days. When creating your study plan, make sure to focus on the CFA Institute's Learning Outcome Statements (LOS) as they outline exactly what you are expected to do on test day. It's also helpful to have a CFA expert guide you through your studying process. They can provide valuable insights and tips on how to approach the exam and pass with flying colors.Final Thoughts
The quantitative methods section of the CFA Level 2 exam can be challenging, but with proper preparation and a solid study plan, you can improve your performance and pass with confidence.Remember to utilize all the resources available to you, including mock exams and the learning ecosystem, and focus on the LOS when studying. With dedication and hard work, you can master this section and achieve success in your CFA journey.
