This week I signed up for the CFA Level 2 exams. See CFA Program. The material arrived on Friday and I have unpacked the six lofty tomes; Financial Statement Analysis, Corporate Finance, Asset Evaluation and Equity, Fixed Income, Derivatives and Portfolio Management, and Ethics and Professional Standards, Quantitative Methods and Economics. I sat and failed the examination this June. This was through a combination of factors; lack of study, illness and poor preparation. The training company that had been very strong in identifying what areas of the syllabus would be tested in the Level 1 exam were much less accurate in their predictions of what would be tested in Level 2. There were a couple of exam questions in the Portfolio Management section where I had no clue. The next exam is June 2008 so I have nine months’ preparation this time instead of the three and a half months I had last time round. This year, rather than use the Stalla reading notes, I have signed up with Schweser’s CFA Level 2 premium product offering. Schweser are thought to be more concise and the market leader in this field.
I will do a large part of my study on trains between Exeter and London, a journey which takes between 2 and 3 hours according to the day and time of travel. I much prefer train over car: better use of time, less environmental impact and no stress. I will commence my studies this evening on the London train. You will find me in Carriage G with my head in a large blue book with a red stripe. (not a Red Stripe)
