How to Prepare for CFA Level 2 Exam 2022 - Preparation Tips & Study Plan
How to Prepare for CFA Level 2 Exam 2023 - CFA level 2 is the second step towards completion of the Chartered Financial Analyst course. CFA level 2 exam mainly tests the candidates on their analytical skills and how they use their knowledge in realistic situations. The students should plan their CFA level 2 exam preparation according to the difficulty of exam, exam pattern and the new computer-based test format.
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An average candidate spends around 6 months preparing well for the CFA level 2 exam. The CFA level 2 preparation time depends on factors like the CFA level 2 study material, time before the exam, candidate’s academic and professional background etc.
The main key to exam preparation for CFA level 2 is practice. Candidates are advised to refer and solve multiple practice questions and mock exams before appearing for the exam. For more information on tips to prepare well a study plan for CFA level 2 2023, check out the complete article given below:
CFA level 2 exam preparation Tip 1: Set aside appropriate time for preparation
It is imperative to set aside an appropriate preparation time for CFA level 2 exam preparation. Candidates should strategize their studies well before the CFA Level 2 Exam Date. On average, the candidates spend 300 hours studying for the CFA level 2 exam. The exam date for CFA level 2 is in May, August and November. As per the average time required to study for the exam, the candidates should start preparing according to this schedule:
CFA level 2 preparation time
When to start?
|May 2023||December 2022|
|November 2023||May 2023|
CFA level 2 exam preparation Tip 2: Understand the Exam Format
CFA Institute has not given a clear indication of the number of questions for the CFA level 2 exam. But, the clear indication is related to the lower duration of the exam.
The exam length is reduced to 4.5 hours (2.25 hours for each session).
The candidates are advised to spend approximately 3 minutes per question.
The candidates should go through the exam format before the exam to understand what to expect in the main exam.
CFA level 2 exam preparation Tip 3: Understand the Question Format
The most important aspect of the CFA level 2 study plan 2023 is understanding the question format. While the Level 1 question comprises of multiple-choice based questions or sentence completions, level 2 comprises item sets.
The item sets consist of a case statement and four to six questions are based on the same. The answers are based on information provided in the case statement.
It is ideal to solve practise questions from sample papers of previous years as well as attempt mock exams available on the official CFA website.
Click here, to find the sample questions for the CFA level 2 exam.
CFA level 2 exam preparation Tip 4: Prepare well as per the topic-wise weightage of Level 2 curriculum
The CFA level 2 curriculum covers the same topics as the CFA level 1 but the topic-wise weightage differs. Candidates should spend more time on topics that hold a higher level of weightage. The table below defines the topic-wise weightage for CFA level 2 exam.
CFA® level 2 weights- Topic Wise
Ethical and Professional Standards
Financial Reporting and Analysis
Material provided by the CFA Institute for CFA level 2 exam preparation
CFA Institute provides a learning ecosystem to provide study material for CFA level 2. Candidates should utilise these study material to prepare a CFA level 2 study plan 2023. The study materials are given below:
Detailed and comprehensive curriculum
Interactive planner to help students in monitoring their performance and understanding their weak and strong areas of study.
Topic-wise practise questions which the candidate can utilise after they complete a particular chapter.
Mock exams which are available two months before the exam. These exams can be utilised to simulate the test environment in the comfort of home.
Frequently Asked Question (FAQs) - How to Prepare for CFA Level 2 Exam 2022 - Preparation Tips & Study Plan
Question: How many hours are needed to study for the CFA Level II exam properly?
As per the previous date by CFAI, candidates require 302 hours to study for the CFA level 2 exam.
Question: I want to appear in the CFA Level 2 2023 exam in May session. Can I start my reading from December 2022 to prepare well for the exam?
Yes, You can prepare well by planning an effective study schedule. The 6 month period is a good time frame to study for the exam well.
Question: How should I approach the ethics topic of the CFA level 2 exam?
Ethics is a tricky topic for many people. You should go through maximum examples from the CFAI. You should answer the questions by putting yourself in the customer’s place.
Question: I have to appear in the CFA level 2 2023 exam. Is it better to prepare from official CFA sources?
Yes, it is always better to prepare directly from CFA study materials, read thoroughly and practise as much as you can.
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Questions related to CFA Exam
how to clear CFA exam in first attempt
Try preparing smartly and efficiently.
- Be very disciplined with your study schedule. The output is more when you give 2 hours daily for 7 days then 14 hours on only weekends (generally).
- Study with the sense of doing questions and clearing exams. It will help you to clear L1 but may prove harmful for L2 as it demands deep inter-topic clarity.
Just a tip, in case you have less time and you are good to grasp new concepts - try preparing from Schwezer Notes and Videos for Level 1. But for Level 2 and 3 you have to put in the required efforts.
It is not difficult to crack CFA Level 1 without coaching. You just go through the curriculum topics one by one and do practice a lot of questions. Also in case you do not have much time, you can go through Schwezer notes for Level 1 through and practice the papers on CFA website.
In case you do not understand any particular subject, there are coachings available for particular subjects. You can opt for that rather than going for all the subjects. Plus there are video lectures available which help a lot.
Hope this helps.
CFA exam curriculum book 2020 for level 1 is showing on the website of career360 but when I click on that its showing unavailable . Will you please send the link from which I could download the pdf version of CFA book for level 1 2020
Sorry to say but we now don't have that collection,you would be talking about this links given in this (https://finance.careers360.com/articles/cfa-level-1-study-material), you might now search fee materials on google,i am providing a name(soleadea.org) i am not sure whether it is a safe site or not,get on your own risk.
Thank you ,hope it might help you
what about CFA registration and fees payment , as CFA exam is an US exam. what will have to do ??
As you wanted to attempt cfa examination as it is a designation that certifies competence and integrity of financial analysts as the registration can be done from march 26 to August of 2nd week and registration fee is USD 650 with discount and it is fee for the level 1 and level two will be in December so work for it and get good certification and it can be done from online also for USD 450 so study well and work hard to get good marks and ALL THE BEST for your future and i think my suggestions and knowledge may be helpful to u.
I need to know about cfa part 1 exam details such as fees, registration date, syllabus,exam date, exam pattern,etc.
The Level1 CFA exam is conducted in two sessions each 3 hours long. It consists of 240 multiple choice questions in two sessions of 120 questions each.
When you register for the Level 1 CFA exam you will pay a one time enrollment fee of $450 USD.
Then you will have to pay an additional registration fee to sit for the exam at each of the three levels.
Depending on when you register, you can pay anywhere from $1950 to $4140 USD total to take all three levels assuming that you pass each exam the first time.
Add the $450 USD enrollment fee, and the total CFA exam fees range from $2440 to $4950 USD.
The CFA level 1 syllabus focuses on the basic knowledge of 10 topic areas and simple analysis using investment tools.
Based on the percentage of marks distributed there are 6 most important topics that you have to focus on.
- Financial reporting Analysis
- Ethics and professional standards.
- Quantative Analysis
- Equity Investment
Cfa exam centre name in pune and mumbai
CFA exam centres are only in 7 cities in India and Pune is not one of them, however, Mumbai has centre for this exam.
In Mumbai, the exam centre is Thakur college in Kandivali east.
Sometimes when the candidates are too many, the other centres may be Nesco Goregaon and also somewhere in Worli.
You can find these locations on the maps.
Hope this helps.