CFA level 2 Course with Mock Tests & Solutions
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CFA level 2 Course – First of all, congratulations! We hope that you have already passed out CFA Level 1 and now you are committed to going for CFA Level 2. However, there are a few things you want to know.
- First, how much effort you need to give in passing out the CFA level 2 exam and whether it would be as easy/ difficult as CFA level 1.
- Second, how should you study the subjects of CFA level 2 and when should you start?
- Third, is there any chance that you could fail? And what types of questions you need to face in the CFA level 2 exam?
- Fourth, can you get any assistance to improve your learning curve and ensure that you pass out with flying colors?
This CFA Level 2 Training course (100+ hours of video tutorials) provides you with an excellent opportunity to equip exceptionally well for the CFA Level 2 exam and pass the exam in your first attempt.
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[Source - MarketsandMarkets]
[Source - Indeed]
If you have these questions in your mind, you are at the right place. After reading this article, all of your questions will be answered.
Let’s get started right away.
- About CFA Level 2
- About CFA Level 2 Training Course
- CFA Level 2 Course description
- CFA Level 2 Pass Rates
- CFA Level 2 Sample Questions
- Pre-requisites to CFA Level 2 Training
- Target Audience for CFA Level 2 training
- CFA Level 2 Training Course FAQs
- CFA Level 2 Sample Videos
- CFA Level 2 Course Reviews
About CFA Level 2
As you have already cleared CFA Level 1, you know about the CFA exam already. However, if you compare CFA level 1 with level 2, you will make a mistake. Because CFA level 2 is much harder than CFA level 1. And to give you a glimpse, most CFA students get stuck in CFA Level 2 examination. So you can understand how valuable it is to take CFA level 2 sincerely.
Below is the CFA Level 2 exam format.
|Courses||No. of Hours|
|Level 2 Ethical & Professional Standards 2020||5h 8m|
|Level 2 Quantitative Methods 2020||5h 29m|
|Level 2 Economics 2020||11h 13m|
|Level 2 Financial Reporting and Analysis 2020||15h 7m|
|Level 2 Corporate Finance 2020||6h 19m|
|Level 2 Equity Valuation 2020||13h 42m|
|Level 2 Fixed Income 2020||12h 19m|
|Level 2 Derivative Investment 2020||11h 32m|
|Level 2 Alternative Investments 2020||7h 11m|
|Level 2 Portfolio Management 2020||4h 24m|
|Exam||CFA Level 2|
|Number of questions (total)||120|
|Type of question||Vignettes (Mini-cases)|
|Time allotted||360 minutes|
|Full marks||360 points|
|Every correct answer||3 points|
|Every incorrect answer||No penalty|
|Sessions||2 (Morning & Afternoon)|
|Set of questions in each session||10|
|In each question, numbers of vignettes||6|
source: CFA Institute
I found CFA Level 2 be the hardest of all three levels and there are four reasons for which you should take CFA level 2 more seriously –
- The same old routine won’t work: As a CFA level 1 student you may have maintained a routine that has helped you succeed in the examination, but it will not work in the CFA level 2 exam. Because even if the subjects are similar, however, their weightage on each subject would be different and you need to think more about application than theory while answering the questions in the CFA level 2 examination.
- Vignette questions will replace multiple-choice questions: This is a huge change! The mind-set for answering multiple-choice questions is much different than answering vignette questions. You need to think with all your knowledge and then answer the question. And in some cases, you need to go through a thorough calculation to come to a conclusion.
- Time constraint: Answering multiple choice questions is easier within a set time. While answering vignette questions, you need more time; but unfortunately, you won’t get any. You need to answer 120 vignette questions within 360 minutes (and remember the calculation part as well).
- Study habits need to be changed: Routine needs to be changed because of the width of the subject because you won’t be able to finish the syllabus within a short period of time. But what’s more important is to change your study habits. Because your study habits will ultimately decide whether you will be able to clear the CFA level 2 exam. Study habits mean how deep you study each time you study, not only how long you study.
So in this given circumstance, what would be your option? What should you do to clear the CFA level 2 exam in one go?
I had faced similar questions when I prepared for CFA level 2. Students who successfully clear the exam realized that CFA level 2 is much tougher and much intense exam. So we brought in all the experts in the field and we created the CFA Level 2 Training Course.
About CFA Level 2 Training Course
|Course||CFA Level 2 Training Course|
|Deal||You get access to all the 10 parts of this course. You do not need to register for each course separately.|
|Hours||100+ Video Hours|
|Core Coverage||Ethics & Professional Standards, Equity Investments, Alternative Investments, Corporate Finance, Portfolio Management, Quantitative Methods, Fixed Income, Economics, Derivatives, Financial Reporting & Analysis|
|Course Validity||You get Lifetime Access. No limit on the number of times you can view this course.|
|Pre-Requisites||CFA Level 1 Pass|
|Type of Training||Video Course – Self-Paced Learning|
|System Requirement||1 GB RAM or higher|
|Other Requirement||Speaker / Headphone|
|Recommended Study Hours||A minimum of 300 hours of preparation per CFA® exam level is recommended.|
CFA Level 2 Prep course section details are as per below
|S. No||Modules||Video Hours|
|1||Ethical & Professional Standards||8|
|4||Financial Reporting & Analysis||19|
|10||Portfolio Management & Wealth Planning||5|
CFA Level 2 Training Course description
The course is rich with practical examples and materials that you can digest at your own pace. But before going into detail elaboration of the course, let’s talk about two things that would be important for you to know.
- First of all, this course is not for everyone. If you feel that you will just go through the course and you will pass the exam, you are wrong. You need to invest a lot of time practicing the lessons you will learn in this course.
- Second, after you complete these tutorials, it is important for you to practice the questions provided at the end of each chapter in CFAI level Books. Additionally, you must give mock tests to ensure that you have enough practice of the full six-hour exam. You can find details of CFA Level 2 Mock Test here.
Till now, many of our students took this course and they have reported that this course has benefited them very effectively as the course is created by industry experts and while taking into account the issues students face.
Let us look at the syllabus of CFA Level 2 (quite comprehensive).
source: CFA Institute
Now let’s have a look at what you will learn in the CFA level 2 course –
- Ethical & Professional Standards (10-15%): You will learn about ethical standards in more detail and you will learn to apply the same via case studies. The course will guide you to study trade allocation: fair dealing & disclosure, changing investment objectives, super selection, etc.
- Quantitative Methods (5-10%): The subject matter will get deeper and more complex. You will get to learn about correlation & regression, multiple regression & issues in regression analysis, time-series analysis, probabilistic approaches, etc.
- Economics (5-10%): From the weightage, you can understand that the weight has reduced because, in CFA level 2, the focus of the subjects is more on investments. You will learn currency exchange rates: determination and forecasting, economic growth and investment decision, the economics of regulation, etc.
- Financial Reporting & Analysis (15-20%): Financial Reporting and Analysis is not an important subject as it is in the CFA Level 1 exam. Thus the weightage slightly differs. And there are also a few changes you would see in the syllabus of 2017. So we created the course while keeping the same in mind. You will learn about inter-corporate investments, post-employment, share-based compensation, multinational operation, etc.
- Corporate Finance (5-15%): Corporate finance is of almost equal importance as it is in CFA level 1. You will get to know about capital budgeting, capital structure, dividends & share buybacks repurchases, corporate performance, governance, mergers & acquisitions, etc.
- Equity Investments/Valuation (15-25%): The weight has increased a lot than CFA level 1 because as already mentioned the purpose of the level-2 exam is to focus more on investments. You will learn about equity valuation, industry, and company analysis and discounted dividend valuation, etc.
- Fixed Income (10-20%): You will learn about fixed income: valuation concepts and topics in fixed income analysis.
- Derivatives (5-15%): This part is very important in the CFA level 2 exam. You will get to learn pricing and valuation of forwarding, valuation of contingent claims, derivatives strategies, etc.
- Alternative Investments (5-10%): This is also one of the major parts of CFA level 2 course materials. You will get to know private real estate investments, publicly-traded real estate securities, private equity valuation standards, commodity derivatives, etc.
- Portfolio Management & Wealth Planning (5-10%): You will learn a great deal about portfolio management process and the investment policy statement, multifactor models, managing and measuring market risk, analysis of active portfolio management, etc.
This course will not only teach you all the subjects; it will also give you practical applications of the same so that you can practice at your pace and whenever you would like to. This course will act as your ally throughout your preparation time.
CFA Level 2 Pass Rates
- Between 2000-2016, the average passing rate for CFA Level 2 was around 44%.
- In June 2016 the passing rate for CFA level 2 was at 46%.
source: CFA Institute
CFA Level 2 Sample Questions
Now let’s have a look at the sample question so that you can get an idea about how to approach the whole thing
source: CFA Institute
As we can see from above, this is just 1 page out of the 2-page vignette. Imagine the time taken to fully understand this vignette.
Now let us see the questions on the same.
source: CFA Institute
As you note from above, there are six questions in each vignette. These questions require your full and thorough understanding of the vignettes. Mostly, these questions are interconnected. Your answer to the first question may lead to the answer to the second question. Therefore the stakes are very high and you cannot afford to overlook anything in the curriculum.
Pre-requisites to CFA Level 2 Training
- There are a few things you need to keep in mind if you want to do this course. Again this course is not for everyone.
- Basic understanding of all the concepts covered in CFA level 1: Until you have cleared your fundamental knowledge in the subjects of CFA level 1, you won’t be able to do this course. Because this course has gone into much more depth of the subjects.
- Clear CFA level 1: First thing first, this is basic, still, we need to mention. If you haven’t cleared CFA level 1 yet, this course won’t be able to add much value.
- Willingness to go through the entire course and practice on your own: This is the critical step because, without this, the entire effort would be a waste. You need to go through the whole course step by step and then practice on your own as much as you can. Then only you will be able to clear the exam.
Target Audience for CFA Level 2 training
- It’s particularly useful for students who have cleared CFA level 1 course and would like to clear CFA level 2 in one go.
Who can go for this course?
Only those students who are willing to commit a few hours a day and one practice session each day while doing this course should go for this course. Otherwise, it would be futile even to attempt to do this course and expect to clear the exam.
Who shouldn’t take the course?
If you think that this course is a magic pill, it’s not. It will certainly take off a lot of burden off your shoulder so that you can concentrate on what’s most important, i.e. understanding the concepts and practicing what you learn in this course. If you think this course is magic, please don’t do this course.
CFA Level 2 Prep Course FAQs
Would this course ease my effort in preparation?
Sure. The course is created with a singular reason and that is to ease up the burden of the students and to give them the guidance of industry experts so that they can clear CFA level 2 exam in one go.
Why should I enroll?
This CFA Level 2 training course is a comprehensive 100+ hours of high-quality video tutorials. You can watch these anytime anywhere at your convenience. This course will provide you with tips and tricks to perform better in the CFA Level 2 examination.
Who designed this course?
Top-notch industry experts (CFA Charterholders) created and crafted this course for students who are not able to invest so much time in studying. This course will help you study less and understand more. However, the practicing time remains the same.
Where do the learners come from?
Professionals from around the globe have benefited from WallStreetMojo’s CFA Level 2 Training course. Some of the top places that our learners come from include New York, San Francisco, Bay Area, New York, New Jersey, Houston, Seattle, Toronto, London, Berlin, UK, Dubai, Riyadh, UAE, Singapore, Australia, New Zealand, Hong Kong, Bangalore, New Delhi, Mumbai, Pune, Kolkata, Hyderabad and Gurgaon among many.
Can I see the Demo Videos?
Yes, you can view the demo videos below.
What are the Payment Options?
You can pay by Credit Card, Debit Card, or Net Banking from all the leading banks. Additional payment options include pay by PayPal and 2checkout.
CFA Level 2 Sample Videos
Introduction to Economics CFA Level 209.08
The LIFO Method10.17
Amortization of Excess Purchase Price08.41