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Level II Candidates pressure cooker (letting off steam!)

Just finished my fourth week of study towards Level II. My wrist feels very fragile from hours upon hours of writing.
How are others doing?

I've been progressing through the official curriculum in the linear order of the chapters but I'm pleasantly surprised that so far, I've not found any of the material so dull that I've wanted to skip it. On the contrary, I've enjoyed a lot of what I've read.

On the other hand, the volume is absolutely killing me. I've been rigid about progressing to the next Study Session every Monday, and if I fail to finish a Study Session, too bad, I'll have to catch up later. On average 14 hours per week of reading, but even that feels like less than half of what I ought to be doing.

Is this why so many people call Level II the hardest? I hope no truly difficult subjects crop up later on in the curriculum, that would really be a hell week :-D


  • rsparksrsparks MelbournePosts: 53 Sr Associate
    I'm on my 5th topic and haven't found it any harder than level 1. On the plus side, I think the material is a lot more interesting and I am more engaged. I've just been going through the readings and understanding everything. I haven't attempted too many problems. My goal is to get through all the readings first, then I will go back and redo end of chapter questions as well as watching videos. Hardest part I feel will be getting use to the item format. What volume are you on? I think FRA may be challenging, but I'm studying chartered accounting and just finished financial reporting, so some of the topics look familiar....i'll cross that bridge when it comes lol.

    What topics have you done? I have read through: Ethics, Quant, Economics, Alternative Investments and now on Fixed Income. Fixed Income has been the slowest, but probably the most interesting to me. The others weren't too bad.
  • jasdevjasdev LondonPosts: 15 Associate
    I've read bits of Ethics, Quant and Econ, and tonight I'm starting FRA.
    In contrast with last year, I'm being very rigid about my study schedule, so if I can't complete a Study Session in the scheduled week, I skip to the next and will revisit later on for a second read through the curriculum to cover everything I skipped.

    You're right, I've found everything much more interesting to read too. I'm hoping that both FRA sessions are directly applicable to my role as a credit analyst so that I can put them to use and internalise them straight away.
  • rsparksrsparks MelbournePosts: 53 Sr Associate
    We started down similar paths and have now gone our own way. Let me know how you go with FRA. Fixed Income first reading is long but the second reading is 20 pages so it balances out. Alternative Investments was a fun, easy read. A lot more detailed than level 1 though but pretty easy to comprehend
  • jasdevjasdev LondonPosts: 15 Associate
    The first reading of FRA is really something else. Relative to previous readings, comparatively short, but the font size is smaller in my printout, and the text is dense. It takes a lot more of my focus and concentration, there is a lot more to learn, and I am not confident I'll even finish this first reading after a week of study (some 13 hours).
  • rsparksrsparks MelbournePosts: 53 Sr Associate
    Good to know! There are two readings in Fixed Income that may take more than a week (first and the third); however, the high level concepts are pretty easy to grasp. The other three readings are not too bad. It will be down to remembering the detail in the calculations. I'm just reading to understand so if it takes 1.5 weeks, then I'm not fussed. I wont be stressed to complete readings till mid-February but port mgmt and FRA seem to be the hardest slog to get through.
  • Hey guys.
    Are we responsible for the differences between IFRS and GAAP in the first three chapters ( pensions, multinational operations..) of the financial reporting? I recall from the level 1 that candidates are not responsible for the differences between those standarts.
  • jasdevjasdev LondonPosts: 15 Associate
    I can only point you to the Learning Outcome Statements for Reading 16:

    16b. distinguish between IFRS and US GAAP in the classification, measurement, and disclosure of investments in financial assets, investments in associates, joint ventures, business combinations, and special purpose and variable interest entities

    So you must be able to differentiate between the different treatment of those types of intercorporate investment under IFRS and US GAAP.
    They're generally similar so it's not awful.
  • guys lookin for advice here please

    are there any topic areas you recommend sticking to curriculum for? (vs. others reading Schweser) 
    I've read a lot online that schweser is too condensed sometimes, so I don't want to risk it for areas that you know to be more complex/depth-requiring

    thanks :)
    Go big or go home!
  • @lulu123 I think condensing can be an advantage as it saves you time. Rather than using the curriculum for certain topics, I'd recommend going through the end of topic questions for ALL of the topics, which will help you highlight any areas that you're missing (if there are any). That I think gives you the best balance between speed and thoroughness.

    If you're looking for something other than Schweser, Elan / Wiley is what I used for L2 and it was also excellent.
    When things get too tough, sit back with a nice bottle of red wine and remind yourself how inconsequential things are.
  • jasdevjasdev LondonPosts: 15 Associate
    Damn, @rsparks , you weren't kidding. The first fixed income reading is a dense slog!
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