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How to Pass the CFA Exam Level 2

The CFA Level One exam's focus is on predominately on investment and financial concepts. The CFA Level Two exam focuses on the application of those concepts. Only two-thirds of the candidates who take this very difficult exam pass it. That is why it is critically important to study and be well prepared.
Things You'll Need
CFA Level Two study guide

Know how the test is set up. The CFA Level Two exam is composed of 120 questions and is administered in two separate 3-hour sessions. You are given ten hypothetical cases in which after each case you will be asked a series of multiple-choice questions.
Make a list of the exam topics. They are: Ethical and Professional Standards, Investment Tools, Asset Valuation and Portfolio Management.
Obtain a Candidate Book of Knowledge. This book contains the Ethical and Professional Standards contained in the exam. This section accounts for 5-15 percent of your overall exam score.
Study Investment Tools. Accounting for 35-45 percent of your overall exam score, this section contains the following subjects: Quantitative Analysis, Economics, Financial Statement Analysis and Corporate Finance.
Learn Asset Valuation. This section accounts for 35-45 percent or your exam score and includes Equity Investments, Fixed Income Investments and Derivatives.
Gain knowledge about Portfolio Management. Study effective portfolio management concepts and techniques. This section will account for 5-15 percent of your exam score.
Tips & Warnings
Set aside study time every day and stick to a schedule.
Go to bed early the night before. The CFA Level Two exam is mentally challenging. Getting a good nights sleep will ensure that you will be able to focus and think clearly on test day.
This test changes from year to year. The concepts remain the same but the questions change. If you fail the exam, start over and study from the beginning again when you are preparing to retake the exam.
Keep track of time. You only have a few minutes to read each hypothetical case and answer the questions, so it is very important to manage your time wisely.

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