CFA Exam Level 2, How to Pass the CFA Exam Level II, And Why I’m Taking Level 1 Next December

In this blog post I’ll talk about the CFA Exam Level 2, and also will discuss why I’ve decided to take the CFA exam in either June or December of next year, and why the CFA charter is worth its weight in gold for just the $3,000 sticker price that it costs. In this blog post, I’ll talk about why I plan on taking the CFA exam, why the CFA exam is the ultimate brain power challenge in the world of finance, and of why I think it is super fun to take these licensing exams! For more information on CFA level 1, level 2 and level 3, be sure to comment down below or to comment down below with your thoughts and opinions on the article and we’ll get back to you within one business day with a response.

Among the top certifications that I plan on getting within the next 5 years related to the field of finance include the following:

the CFP certification

CFA EXAM LEVEL 2the CFA certification

series 7

series 66

SIE Exam

Series 24 Exam

Series 9 Exam

Series 10 Exam

The CPA License

The 2-15 Life, Health and Variable Annuity License

The 2-20 Insurance Property and Casualty License

And a host of other similar and related financial and banking certifications.

How to Pass the CFA Exam Level II, Why I’m Taking Level 1 Likely Next December

CFA level 1 and CFA level 2 has been a goal of mine for the past several months, and I can actually give you a free PDF resource that I’ve been using to study for this exam right here in this blog post, see this link right here for the 2013 version of the CFA Exam level 1.  

That link is essentially a 300 page pdf document that encompasses every single thing that you could ever think of with regards to the CFA exam level 1, and it is a very cool resource with tons of practice questions, especially since it is 100% free. Below, is one of the problem types that I’ve been stuck on for awhile in that book, if you can solve it, leave a comment down below!

*An analyst has gathered the following data about two projects, each with a 12%
required rate of return.

Project A Project B
Initial cost $ 15,000 $20,000
Life 5 years 4 years
Cash inflows $5,000/year $7,500/year

12. If the projects are independent, the company should:
A. accept Project A and reject Project B.
B. reject Project A and accept Project B.
C. accept both projects.

13. If the projects are mutually exclusive, the company should:
A. reject both projects.
B. accept Project A and reject Project B.
C. reject Project A and accept Project B.

14. The NPV profiles of two projects will intersect:
A. at their internal rates of return.
B. if they have different discount rates.
C. at the discount rate that makes their net present values equal. 

 

**Hint, it is a weighted average cost of capital formula equation. Also number 14 I believe should be C, but correct me if I’m wrong, as I know that the Internal Rate of Return is the point in time at which the NPV is made 0 via this discount rate (reflected in the IRR.)

 

My Strategy to Pass All 3 Parts of the CFA Exam in 18 Months

My strategy for this right now is to do the following, start studying with free materials for the rest of the year as kind of an ice breaker, preparation finance section. Once I see that I am able to have the discipline and intelligence to absorb the material, I will probably register for the 1st part of the exam either for June or November of next year, whichever one gives me the early discounted rate. From here, though this is an $1150 initial fee for taking the test, they give you the study materials typically, of which I will use and also buy an additional $250 Qbank from Kaplan, this should hopefully get me through the Level 1 Portion of the exam. From here, each exam will cost about $700 per section, plus $250 in materials, for a grand total cost of just around ~$3500 even. Expensive, but not too bad considering the cost of a masters degree, especially when this is a much better and more widely respected certification, especially in the fields of finance, banking, portfolio management and even accounting.

Final Thoughts on the CFA Exam Level II, What I’m Hearing in Regards to the Exam

I am hearing that this is a very difficult than many other finance exams, with the difficulty being even harder than the CPA exam with regards to how much material there is. Personally, I pride myself as being a very brainy book nerd however, and I think that I will have a really good time taking on such a challenge, especially when the topic is something in finance! Have you thought about taking the CFA Exam levels 1, 2 or 3? Comment down below and let us know, and be sure to subscribe!

 

Cheers!

 

*Inflation Hedging.com

Sources:

https://www.bankrate.com/banking/cds/cd-rates/

https://money.cnn.com/data/markets/

 

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