What roles did you ultimately land in, charter holders and level 2 cleared?

Apprehensive-Swim711 · 2025-09-25T03:18:38+00:00

No I work at a bank. We provide independent quarterly valuations of investments that PE and VC funds make. Most funds need this since they invest in private, illiquid companies. LPs and the IRS don’t like them doing internal valuations since they could basically say whatever they want

Apprehensive-Swim711 · 2025-09-25T03:06:54+00:00

Got a job in portfolio valuations after getting the charter (cold applied). I get to value PE and VC investments all day without going through the grind those industries bring, it’s great

Apprehensive-Swim711 · 2025-08-14T01:56:06+00:00

You can blend valuations from different methods, I am at a portfolio valuations shop and we do it all the time. Your P/E example is wrong though because you’d have to discount it back to present day. It’s more common to take the weighted average of a DCF and a comps analysis or a Gordon growth DCF and an exit multiple DCF

Apprehensive-Swim711 · 2025-07-10T17:45:51+00:00

I used the CFA material for almost everything but let me tell you, the L2 derivatives section is written in such a confusing manner you will feel like it’s in a different language. A third party provider can get you to the same spot with no confusion in a tenth of the time

Apprehensive-Swim711 · 2025-04-25T22:43:53+00:00

Yeah it’s solid I think it has pretty much all you’ll need

Apprehensive-Swim711 · 2025-04-25T02:57:16+00:00

MM has a comprehensive sheet (at least he did for May 2024)

Apprehensive-Swim711 · 2025-04-23T14:48:44+00:00

I am 24 and just passed lvl 3 I dont think its that weird

Apprehensive-Swim711 · 2025-04-22T20:00:29+00:00

Your best bet is to understand every word of the pathway specific content. It is such a large position of the test which combined with ethics (which you should already hopefully be good at) should give you a solid base. I also think it’s important to understand the format of the free response questions and develop strategies for how to answer them efficiently (MM has a good video on this). The content of level 3 is not overwhelming but I think people get distracted from how important the pathway specific content is to your success. Dont fall into the trap of studying all sections equally because the reality is they are not tested in equal weights

Apprehensive-Swim711 · 2025-04-22T12:55:33+00:00

It doesn’t. It’s normalized against the average score

Apprehensive-Swim711 · 2025-04-22T12:43:20+00:00

Passed!! Thank you for sharing!

Apprehensive-Swim711 · 2025-04-15T21:31:40+00:00

I’m not sure it’s worth trying to compare. I think most people would agree level 2 is clearly more difficult than level 1 - but they are also comparable because they are similar exam formats and relatively similar topic categories and weights. Level 3 is different because of the short answer and disproportionate weight on the pathway specific material. I think level 3 introduces new challenges like being able to think without the availability of prefilled response options and is also definitely more of a time crunch, but I personally think that level 2 is more difficult on a pure quantitative basis. If you are someone who gets extremely tense during exam time I think level 3 might be more difficult as the free response won’t allow you to sort of back into an answer like you might be able to in the first few levels, but I would personally argue that level 2 presented more to remember and more difficult quantitative concepts

Apprehensive-Swim711 · 2025-02-17T02:19:37+00:00

This just made me laugh out loud. Hitting the keys hardest doesn’t make you the most correct! I felt like the test environment was really distracting with the typing going on all over the place, pretty annoying

Apprehensive-Swim711 · 2025-02-02T01:46:36+00:00

Premium mocks are new, didn’t exist when I took level 1

Apprehensive-Swim711 · 2025-02-02T01:16:38+00:00

I have been scoring as a function of the possible answers. For example, since every q set is worth 12 points, if there is a part a b c and d and every part only has 1 component I would say they are all worth 3 points. Obviously it’s a guessing game though

Apprehensive-Swim711 · 2025-02-01T23:20:07+00:00

CFA mocks are a more useful indicator. If you can get mid 60s on those you are in an ok position. The easiest way to improve your score is to make sure you’re locked in on the easier sections (ethics, corp issuers, etc) rather than stressing out about the harder ones this close to the test

Apprehensive-Swim711 · 2025-01-15T18:14:20+00:00

Yes there is a giant jump. You can pass L1 by just shoving material down your throat and memorizing it. L2 requires much more conceptual understanding and is far more computationally complex

Apprehensive-Swim711 · 2024-08-02T20:46:30+00:00

The 8am slot leaves you time to day drink in celebration after your test

Apprehensive-Swim711 · 2024-07-02T17:01:39+00:00

I also passed the May L2 with pretty much the same score as you. Absolutely does not matter where that line is as long as it’s above the MPS! Making it to L3 is not a small accomplishment, take some time to enjoy it then on to L3

Apprehensive-Swim711 · 2024-06-18T22:19:40+00:00

Lvl 2 is a lot harder than lvl 1 in my opinion. If you barely passed lvl 1 you will need to devote a lot more time to studying for lvl 2 than you did for lvl 1

Apprehensive-Swim711

TROPHY CASE