CFA Level 2 study plan
Build a CFA Level II plan around vignette practice: identify the deciding fact, select the model, calculate, and review the entire evidence chain.
Your Level 2 study roadmap*
Weeks 1-3
Model and accounting foundations
Rebuild the accounting and valuation inputs behind each vignette.
Weeks 4-6
Valuation and asset-class cases
Turn model selection into defensible case answers.
Weeks 7-9
Ethics plus mixed item sets
Maintain Ethics while preserving valuation accuracy under switching costs.
Weeks 10-12
Timed vignettes and full-case retests
Raise speed without dropping case-reading discipline.
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CFA Level II: 20 practice MCQs
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Build my Level 2 plan
LEVEL II CAPACITY
288 hours across 24 weeks
Focus: valuation judgment and vignette evidence. This is a workload plan, not a pass prediction.
Weekly cadence: Learn 5h, practise 5h, review 2h.
PRINTABLE STUDY PLAN
Level II · 24-week plan
WEEK 1
Model and accounting foundations
5h learn · 5h practise · 2h review
Build: Learn one model family and restate its assumptions in plain language.
Rebuild the accounting and valuation inputs behind each vignette.
WEEK 2
Model and accounting foundations
5h learn · 5h practise · 2h review
Pressure-test: Learn one model family and restate its assumptions in plain language.
Rebuild the accounting and valuation inputs behind each vignette.
WEEK 3
Model and accounting foundations
5h learn · 5h practise · 2h review
Build: Practise short item sets on accounting adjustments and interpretation.
Rebuild the accounting and valuation inputs behind each vignette.
WEEK 4
Model and accounting foundations
5h learn · 5h practise · 2h review
Pressure-test: Practise short item sets on accounting adjustments and interpretation.
Rebuild the accounting and valuation inputs behind each vignette.
WEEK 5
Model and accounting foundations
5h learn · 5h practise · 2h review
Build: Review every misread line reference before moving to the next case.
Rebuild the accounting and valuation inputs behind each vignette.
WEEK 6
Model and accounting foundations
5h learn · 5h practise · 2h review
Pressure-test: Review every misread line reference before moving to the next case.
Rebuild the accounting and valuation inputs behind each vignette.
WEEK 7
Valuation and asset-class cases
5h learn · 5h practise · 2h review
Build: Study one valuation lens and list when it fails.
Turn model selection into defensible case answers.
WEEK 8
Valuation and asset-class cases
5h learn · 5h practise · 2h review
Pressure-test: Study one valuation lens and list when it fails.
Turn model selection into defensible case answers.
WEEK 9
Valuation and asset-class cases
5h learn · 5h practise · 2h review
Build: Work vignette sets that compare alternatives across asset classes.
Turn model selection into defensible case answers.
WEEK 10
Valuation and asset-class cases
5h learn · 5h practise · 2h review
Pressure-test: Work vignette sets that compare alternatives across asset classes.
Turn model selection into defensible case answers.
WEEK 11
Valuation and asset-class cases
5h learn · 5h practise · 2h review
Build: Review why the winning method beat the discarded methods.
Turn model selection into defensible case answers.
WEEK 12
Valuation and asset-class cases
5h learn · 5h practise · 2h review
Pressure-test: Review why the winning method beat the discarded methods.
Turn model selection into defensible case answers.
WEEK 13
Ethics plus mixed item sets
5h learn · 5h practise · 2h review
Build: Learn the week's Ethics nuance and flag pattern traps.
Maintain Ethics while preserving valuation accuracy under switching costs.
WEEK 14
Ethics plus mixed item sets
5h learn · 5h practise · 2h review
Pressure-test: Learn the week's Ethics nuance and flag pattern traps.
Maintain Ethics while preserving valuation accuracy under switching costs.
WEEK 15
Ethics plus mixed item sets
5h learn · 5h practise · 2h review
Build: Practise mixed vignettes with frequent topic switching.
Maintain Ethics while preserving valuation accuracy under switching costs.
WEEK 16
Ethics plus mixed item sets
5h learn · 5h practise · 2h review
Pressure-test: Practise mixed vignettes with frequent topic switching.
Maintain Ethics while preserving valuation accuracy under switching costs.
WEEK 17
Ethics plus mixed item sets
5h learn · 5h practise · 2h review
Build: Review the evidence you missed, not just the answer choice.
Maintain Ethics while preserving valuation accuracy under switching costs.
WEEK 18
Ethics plus mixed item sets
5h learn · 5h practise · 2h review
Pressure-test: Review the evidence you missed, not just the answer choice.
Maintain Ethics while preserving valuation accuracy under switching costs.
WEEK 19
Timed vignettes and full-case retests
5h learn · 5h practise · 2h review
Build: Run a timed vignette block and log the time spent per case.
Raise speed without dropping case-reading discipline.
WEEK 20
Timed vignettes and full-case retests
5h learn · 5h practise · 2h review
Pressure-test: Run a timed vignette block and log the time spent per case.
Raise speed without dropping case-reading discipline.
WEEK 21
Timed vignettes and full-case retests
5h learn · 5h practise · 2h review
Build: Repair calculation, interpretation and prioritisation misses separately.
Raise speed without dropping case-reading discipline.
WEEK 22
Timed vignettes and full-case retests
5h learn · 5h practise · 2h review
Pressure-test: Repair calculation, interpretation and prioritisation misses separately.
Raise speed without dropping case-reading discipline.
WEEK 23
Timed vignettes and full-case retests
5h learn · 5h practise · 2h review
Build: Retest repaired cases and update the next timed block target.
Raise speed without dropping case-reading discipline.
WEEK 24
Timed vignettes and full-case retests
5h learn · 5h practise · 2h review
Pressure-test: Retest repaired cases and update the next timed block target.
Raise speed without dropping case-reading discipline.
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What to do next
ACTION 01
Connect models to evidence
Learn what makes a model appropriate, then practise identifying the deciding fact in a vignette before entering numbers.
Official guidance ↗ACTION 02
Review cases as units
After each item set, separate reading errors, model-selection errors and calculation errors. Retest the whole evidence chain.
Official guidance ↗ACTION 03
Build timed case stamina
Use the final phase for mixed item sets and pacing. More than 300 reported average hours is context, not a pass threshold.
Official guidance ↗
Sources
Policies, dates and results can change; the official source and registered account control.
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Notes
- * Your Level 2 study roadmap: Illustrative study advice. Adjust the schedule to your baseline and available hours; it does not predict a pass. The 12-week example also scales to 24 weeks by doubling each phase. ↩ Return to content