You have high hopes for how Level I turned out, but you are also afraid of what the next step will bring. Of course, everyone knows that CFA Level 2 questions will be harder. About 40% of people who take Level I have passed in the past ten years. That means only 40 out of every 100 people who take the test actually pass. Lessen this to 16% to 18% for Level II of people who passed Level I.
Start Early
Many test takers underestimate the amount of time required for preparation. As soon as you can, begin familiarizing yourself with the Level II study material. In this case, there is a lot of material to cover—about 17 study sessions, six volumes, plus a ton of additional reading. Starting early will help you become more comfortable with the material. You can identify the subjects in which you excel and concentrate on those instead.
Understand the Question Format
The structure for CFA Level 2 questions is very different from Level I, so it’s a good idea to get to know it. At this level, the questions are set up in groups of items. These sets can be about one thing or a bunch of different things. Really, there’s no way to tell. There is an essay, sketch, or “short story” in each of these sets, followed by six questions. There are ten sets of these things for the morning session and ten sets for the afternoon session.
