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Congratulations on passing your CFA® Level I exam. CFA students are brilliant and aim for the best, just as you are. To achieve success, you need to be focused and have an innovative study plan.
As you prepare for level II exams, here are a few tips to prepare for and pass your exam on the first try.
Successful CFA charter holders’ most common success tip is their dedication to a study routine. To pass your Level II exams, you need to understand the material and have the skills to apply it. The exam will test how to apply what you learned to different scenarios.
It would help if you put in a lot of time and effort to attain such a high level of understanding and application skills, and starting a study routine as early as possible will go a long way in helping you achieve this.
You should set apart a time to study and develop a study strategy to ensure that you get the most out of each session. It will help if you prepare by reading or listening to lectures, understanding the information, and applying the knowledge through practicing with examinations.
To prepare for your examinations, you should simulate examination conditions. Simulating exam conditions will help you assess how ready you are for your tests and identify areas for improvement. Ensure that you set apart time for studying, practicing, and mock testing.
During your study sessions, it is essential to understand the topics that carry more weight in the exams versus those that do not. All the levels in the CFA program focus on the same core topics. Therefore, you should note the core topics that weigh more in the exams you are studying.
The exam topics and weights for CFA level II in 2022 are;
As you prepare for your CFA level II exam, it is essential to understand the exam format. The exam format is computer-based and comprises vignettes, brief descriptions of business scenarios containing tables, texts, and sometimes financial statements.
CFA level II exams have four to six sets of questions based on a vignette. Consequently, you should develop the skill to identify which information is relevant for each question. Each set of questions is based on a common topic making it essential to have in-depth knowledge of critical concepts. As a result, you should be more thorough when studying for CFA level II exams.
As a CFA level II candidate, you should practice analytical skills. This is because the vignettes integrate different topics. In addition, the exam tests your analytical skills when answering the questions.
The CFA exam tests not just your knowledge of the material but the skill to apply that knowledge to realistic situations. You need to apply what you have learned to solve problems rather than replicate memorized information.
Specific learning outcomes refer to what you should be able to do by the end of your CFA curriculum. The actual knowledge, skills, and abilities that the lecturer or instructor intends for you to learn or develop. Specific learning outcomes are more in-depth than the set learning goals.
Specific learning outcomes are measurable and tested, for example, asking you to explain, identify or analyze a concept. Designed by the CFA Institute from the Candidate Body of Knowledge, the core knowledge, skills, and abilities are generally accepted and applied by investment professionals globally.
You should plan out your study sessions around the core topics and the specific learning outcomes. Planning study sessions around the core topics will help your study sessions be more focused and successful.
The last but equally important step in preparing for your CFA Level I examinations is to practice taking the exam as much as possible. It would help if you simulated realistic exam conditions while practicing. You will be given a mock exam by the CFA Institute and buy additional resources from Analystprep.com. CFA societies in over 120 locations worldwide also offer a six-hour live mock exam, including a multimedia tutorial that helps you understand how to answer the questions.
Taking mock examinations will enable you to identify any knowledge gaps and adjust your study sessions. You will also understand the terms used during testing, the calculations required, and how to apply the knowledge to solve problems.
If you need additional resources to help you prepare for your CFA Level II exam, enroll in Analystprep.com study packages. We provide instruction from our experts and supplemental study materials including, online study notes and video lessons, question banks, mock examinations, and customizable quizzes. You will have the most reliable partner on your journey to becoming a successful CFA charter holder.
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