60-70% of candidates fail the Level 2 CFA exam. With so much riding on your results, you don't want to be one of them. Say hello to Exam Success.
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Pass your Level 2 CFA Exam
The Level 2 CFA exam (Analyst's Exam), is considered to be the toughest; in terms of content complexity as well as question format (Item Set). These new challenges call for a new game plan — and Exam Success delivers. Our winning study solutions all created by Exam Success founder Prof. Gordon, synthesize the material, cut the distractions and teach you the analytical and applied skills you need to be answer the exam questions the "Level 2 CFA way".
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Prepare to crush it from start to finish with a comprehensive Level 2 CFA prep bundle. Compact, versatile and modular in design, whichever value study package you choose — Total or Plus — you can't go wrong.
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Pass with Prof. Gordon
CFA, CFP, CIM, MBA, FCSI
For the Level 2 CFA exam, Exam Success students prepare to pass with one of most gifted and experienced CFA Program exam prep educators in the profession, company founder and Canada's own Prof. Brian Gordon, CFA, CFP, CIM, MBA, FCSI.
Brian's powerful no-nonsense study solutions for the Level 2 CFA exam leverage his 20+ years of proven CFA Program prep know-how, and do the hard work for you. They cut the fat, simplify the material, fire you up and show you precisely where to invest your time, efficiently guiding you with a strategic roadmap to exam success. Exam Success, your simplest path to a pass... and a better life.
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"I passed thanks to your awesome CFA exam prep course and study material. I've been highly recommending Exam Succcess to my colleagues."
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'"I passed my Level 2 CFA exam! Thank you so much for the way you teach. It really helped me clarify & nail derivatives, alts and quants (my trouble topics)."
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"I passed! Your Queen's MFIN Level 2 CFA review course helped me shape the areas I needed to focus on in the final stretch and was a HUGE help."
Mark Davis
You must register to sit the Level 2 CFA exam directly with CFA Institute at: https://www.cfainstitute.org/en/programs/cfa/register.
Level 2 CFA exam registration prerequisite: Pass Level 1 CFA exam.
CFA Exam Registration Fee
You will be required to pay a CFA exam registration fee each time you register to sit a CFA exam.
CFA Institute offers two tiers of pricing (early and standard). The price you pay will depending on when you register for the exam.
Effective for February 2023 exams, CFA exam registration fees will increase from USD 700 to USD 900 for early registration, and from USD 1000 to UDS 1200 for standard registration.
Source: https://www.cfainstitute.org/en/programs/cfa/exam
For 2022, the Level 2 CFA exam is being offered 3 times. The exam windows are: February, August and November.
For 2023 and beyond, the Level 2 CFA exam is expected to be offered 3 times each year: The expected exam windows are: May, August, November.
Source: https://www.cfainstitute.org/programs/cfa/exam/computer-based-exams
Since 2010, the historical CFA pass rates for the Level 2 CFA exam have ranged from 29% to 47%. The 10 year average Level 2 CFA exam pass rate is 45%. (CFA Institute stats 2012-2021). Source: https://www.cfainstitute.org/-/media/documents/support/programs/cfa/cfa-exam-results-since-1963.pdf
The passing score is set by CFA Institute and is not released to the public.
Exam Success has been facilitating the CFA Program prep process for over 20 years. Although quoting passing rates is not permitted by CFA Institute, probably since they aren't verifiable and can be misleading, we can tell you a few facts about Exam Success worth considering:
1 We're proven. We're Canada's longest serving CFA Program exam prep provider, since the introduction of the Euro.
2.We're respected. We're voted #1 in the business. (2019 Top Choice Award Nominated.
3. We're trusted. We have a student satisfaction rating of more than 98% (student survey results 2014-2019).
4. We price in CAD, not USD (meaning our prep is are easier on the wallet than most others)
And if that's not enough, we are also offer free repeat privileges!
Referred to by CFA Institute as the Analyst's Exam, the Level 2 CFA exam is considered to be more difficult than the Level 1 CFA exam, both in content and format.
ADVANCED LEVEL OF CONTENT
While the names of the Level 1 and Level 2 topics are the same, the Level 2 content is much more in-depth, specialized and advanced than what is covered at Level 1 and there is much more memorization required: spanning from formulas to calculations to definitions and rules, and differences in accounting standards (GAAP vs IFRS).
CHALLENGING FORMAT
The CFA exam format at Level 2 is also a greater challenge. While the CFA Level 1 exam has short questions followed by three multiple choice answers, the CFA Level 2 exam questions are asked in the form of 1 to 2-page case studies (vignettes), each followed by 4–6 multiple-choice questions. These can take as much time as 5 minutes to read through and require great attention to detail and focus to ensure you can extract, synthesize, retain and apply all of the pertinent information required to answer the questions.
For all the above reasons, the Level 2 CFA exam is considered to be harder than Level 1 as well as the hardest exam of the three.
According to UK NARIC (the national agency, managed on behalf of the UK Government responsible for providing information, advice and opinion on vocational, academic and professional skills and qualifications from all over the world), the CFA exams have been benchmarked individually by Level under UK Regulated Qualifications Framework (RQF):
CFA Level 2's difficulty is comparable to a Bachelor's degree (Level 6 qualification under RQF).
The topics and topic weights on the Level 2 CFA exam are subject to change on a year-to-year basis, at the discretion of CFA Institute. Here are the Level 2 CFA exam weights by topic. Source: https://www.cfainstitute.org/en/programs/cfa/curriculum
Exam Success | CFA Institute Core Curriculum Exam Topics (10) | Level 2 CFA Exam Weights (100%) |
1 | Quantitative Methods | 5-10% |
2 | Economics | 5-10% |
3 | Financial Statement Analysis (Formerly known as Financial Reporting and Analysis) | 10-15% |
4 | Corporate Issuers (Formerly known as Corporate Finance) | 5-10% |
5 | Equity Investments | 10-15% |
6 | Fixed Income | 10-15% |
7 | Derivatives | 5-10% |
8 | Alternative Investments | 5-10% |
9 | Portfolio Management | 10-15% |
10 | Ethical and Professional Standards | 10-15% |
The Level 2 CFA exam is a computer-based (CBT) test. It consists of Item Sets comprised of vignettes with 88 accompanying multiple-choice questions.
The exam is 4. 5 hours in length and is divided into two equal sessions of 2 hours and 12 minutes, with an optional 30-minute break in-between. Both sessions have 44 multiple choice items worth 3 points each. Times are approximate.
Multiple-choice questions in each item set must be answered based on the information in the vignette. Therefore, the items are not free-standing, as in the CFA Level 1 exam and you will need to reference the vignette before answering each item. There is no penalty for selecting the incorrect answer.
Source: https://www.cfainstitute.org/en/programs/cfa/exam/level-ii
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