Passing the Level I exam is the first major milestone on your journey towards the CFA charter and is a major accomplishment. At this stage, you might be wondering whether to take the Level II exam in August 2023 or later and if so, when to start studying?
Whether or not to take the Level II exam in August 2023 should depend on the following:
If you enjoyed the Level I material, are excited about expanding your knowledge of investment management, and will be able to make time to study, then I say take the Level II exam in the next available sitting i.e. August 2023. However, you can also choose to sit for the Level II exam in the exam sessions later, if you want to give yourself more time.
Before addressing the issue of when to start studying, I’ll make some high-level points related to the Level II exam.
Given the above, I’d suggest you start your studies as early as possible. If time is on your side, you have the luxury of being able to properly understand Level II concepts. You’ll enjoy the material and learn a lot more this way. Alternatively, you could wait for the last few months and then cram with the sole objective of passing the exam. Unfortunately, many people follow the later ‘strategy’, but I hope you understand when I say it is not the recommended approach.
For either path you choose to take, I wish you the best of luck.
Arif Irfanullah, CFA
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