How to Pass CFA Level 2 in 2023 | 90th Percentile Score

Hi guys! I hope you enjoy this video on all my best tips for passing CFA Level II in 2023 :) These tips helped me a lot when I took and passed the exam after about 2.5 months of studying.

Chapters:
0:00 Intro
0:32 My Background
1:07 Study Schedule
3:54 A Very Quantitative Exam
4:20 Study Materials
4:40 CFA Learning Ecosystem
5:51 Identify Strengths & Weaknesses
7:44 You Don't Have to Know Everything
9:30 Vignette Questions
11:00 The Importance of Ethics
13:40 Outro

Link to my video on my top tips for CFA Level I:

Link to my video on whether the CFA is worth it for you:

Link to my video on how to get your first job in finance:

Link to my latest working from office video:

If you enjoyed the video, please like and subscribe :)

Instagram: @pearlstella_ps

Articles mentioned in the video:

[tucker]

BEWARE OF THIS VIDEO! Hey guys, every test-taker is different so there is no hard rule about how much studying you should do and when, but I can tell you that if you didn't get a masters in finance or something, waiting till 2.5 months before the exam to start studying for the CFA Level 2 is NOT setting yourself up for success. Even if you do pass, those 2.5 months are going to be a nightmare of stress and anxiety for essentially a stab in the dark on exam day.

People forget that the CFA is not only a breadth exam, but a depth exam. Breadth in that it has tons of material, but also depth in that memorizing every word and formula of the CFAI material (obviously impossible) still wouldn't guarantee getting every question correct. Why? Because the CFA exam also measures your intuition based on a deep understanding of the material. This is why you need 6 months to slowly absorb the information to get the 'Why' behind the formulas to truly be successful on exam day.

Pearl also is wrong about the amount of hours. She states in the video that 300 hours is on the high side and maybe too much, but this is also incorrect. 300 hours is the AVERAGE amount of time spent studying by CFA level 2 candidates. Guess what? Less than half of all candidates pass the examine! This means the average candidate likely needs MORE than 300 hours to pass. If you want to get in the 90th percentile you likely need much more than that.

Every candidate is different, which includes different backgrounds in finance, abilities to digest material and every candidate has different luck on exam day, so there is no hard rule on hours, but in my opinion this video is misleading. If you are an average guy with an average finance background then you need 6 months to pass the examine with a minimum of 300 hours.

My story: Before level 2, I spent 7 months studying. I got through the entire material about 6 weeks prior to the examine and then spent the rest of the time reviewing, memorizing and taking mock exams. I never crammed or felt stressed until about the week or so before the examine. I was able to take days off whenever I pleased and spent on average an hour or two studying on the weekdays. The CFA experience can be enjoyable if you give yourself time to understand and digest. For all of these reasons, I disagree with Pearl and hope that candidates do NOT take her advice. Good luck on your exam!

[ImranAhmed-ygti]

Thanks so much for taking the time to break down the CFA L2 and sharing the tips. Your videos are truly inspiring for those of us going through or about to begin CFA journey.

[pearlstella]

Thanks for watching guys! Are you currently studying for a CFA exam?🤗

[sapnakhoobchand]

Hi Stella,
You mentioned studying from CFA curriculum in 2.5 months but it's so extensive it's impossible to read it in 2.5 months. And please also advice on how much practice you did to prepare, like amount of practice questions

[prathamjaiswal]

Thanks Pearl for making this video and motivating me get started with L2 with your tips and tricks!

[mikeozy]

yay I was literally about to ask you where l2 video is. Your advice helped me clear the level I in 3 months so THANKS!!!

[arturopineda]

Thanks for the tips. Second time I'll take level 2, and only have 2.5 months to go while having a full time job. Scaring :)

[shreyanshjain]

Oh it is such a pleasure and peaceful to watch you! You are a really cheerful personality. My jaws would hurt if I had to talk so much with a smile always :-)

[Bluemoonrealtygroup]

I have failed the CFA Level II exam three times using Kaplan. Weird fascination with memorizing formulae and doing manual calculations to pass. Passed the CPA exam on my first attempt, but scored below 50% in the FSA section of this exam on my last attempt.

[farogatolimjonova]

Hi Pearl! Found your channel recently and I love it! I am currently preparing for L2 (the exam is in May 2024). In L1, I was under time pressure, so I mostly sticked to Schweser notes, but for L2 I am want to follow curriculum materials and use the learning ecosystem. What do you think, is it a good plan or should I invest in other tools too? Thanks!

[erickstanza]

How the hell did she read all 6 books, and write notes, and answer every question, and do both CFAI mocks in just 2.5 months??

Did she just read the summaries and study the questions??

[Hamz]

How did you remember everything while studying from previous topics you had already studied ? Regular revisit of questions you had done ? Any advice appreciated !

[abhishekmehta]

Could you share your cfa level 2 result ?

[YoshiMashups]

Thanks for the vid. I passed the CFA Level 1 easily by just using Schweser. But omg what the hell is level 2? Some topics are not covered well in Schweser like derivatives and fixed income. Plus I’m so annoyed that I keep forgetting a lot of the material I studied earlier on when I move to later topics. Some questions are so intense, like the credit analysis (the binomial trees) or so broad and requires memorization like hedge fund strategies and real estate investments. I’m so demoralized cuz I studied so much and still not able to retain all that information all at once. I’m like a straight A student in college and so hard on myself for not getting this lol.

[garri]

is the learning ecosystem of the CFA still free after registration? I checked the platform and I can’t see all sections and there are no mock up exams unless I pay for the upgraded study material

[SarahSivan]

Such great advice! I also got destroyed on derivatives on all 3 levels hehe…worst topic!

[brians]

Hi Pearl, what were you scoring on your mock exams (for all three levels)? What would you say is a good score on a cfai mock exam?

[Loveurself]

Hey, pearlstella, very informative & effectively made video.Could u share ur graduate & undergraduate background & ur job profile.Just curious, as u managed to clear Level 2 in just 2-3 months.Itvis just spectacular.Congratulations

[agabaedmand]

@pearl, how and when can i deffer an exam without losing any amount

[samyakjain]

hey,
i, m from India and like the way you give insights of being a financial analyst,
I would like to know that how much hours daily is enough to clear cfa in one shot. and
yes i like the way you move your hands at the beginning of video while welcoming your viewers