Studying for the CFA Level 2 exam in 3 months is highly intense, requiring approximately 30–40+ hours per week, essentially a full-time job, to cover the recommended 300+ hours. While 6 months is the standard recommendation, 3 months is possible for those with strong financial backgrounds or prior, relevant experience.
Is 3 months enough to study for CFA Level II exam? Three months can be enough time, but typically it takes a candidate at least six months to prepare for the CFA Level 2 exam.
Across the six-to-nine months that you should spend studying for the Level II CFA Exam, you should plan to devote at least 325 total hours (the average study time) to your Level II prep. If that number seems daunting to you, then consider spreading your studies across nine months instead of six.
Most of the level 2 CFA candidates start their exam preparation approx. 5 months before the exam. Some will think that 6 months is a safer prep time and some will wait just a bit longer only to get down to intensive work when it's 4 months to the exam.
Average Age of CFA Candidates
Although many candidates are in their late twenties or early thirties, the Program has a wide age range. Many begin at 35, 40, or even 50. Some of the most thoughtful, determined candidates are the ones who start later. Experience is not a burden.
The CFA Level 2 exam has a reputation for being the trickiest stage. Only about half the candidates pass, which says a lot about how tough it is. The questions feel longer, the topics go deeper, and the pressure is real.
How many hours should I study for each CFA® level? For CFA® Level I, aim for about 300-350 hours; for Level II, around 350-400 hours; and for Level III, 400-450 hours.
Yes, the answer to Is CFA easy for CA students is that many CA students find CFA easier. It is due to the rigidity of the CA exams, as it is considered the toughest of all the accounting and finance exams to crack.
Answer: On average, candidates spend 300–350 hours preparing for CFA Level 1. However, with structured study plans, quality lectures, and mock exams, students have successfully cracked it in just 4 months.
Most Difficult CFA Level 2 Topics
Six months should be enough time to prepare for the Level II exam, though many candidates spread their preparation time out to nine months.
You can expect to study for at least six months for the CFA Level III exam.
Yes, it is entirely possible. Thousands of candidates have passed CFA Level 1 in 90 days by following a structured plan, solving daily practice questions, and benchmarking progress with mock exams. With the right materials and consistent effort, this timeline is not only realistic but also effective.
Each candidate is allowed up to six total attempts per exam level. Candidates who are unsuccessful after six attempts at the same level are no longer eligible to register —this applies to attempts under both existing and newly created accounts.
CFA Exams Pass Rates
The CFA exams are perhaps the most challenging exams out there. They are often referred to as “bar none” the toughest exams—even harder than medical school or law school exams—with pass rates that hover around 50% and were much lower during the recent pandemic.
Yes, it is definitely feasible. I self-studied for all 3 levels of my CFA exams, with a basic study notes package from Kaplan Schweser and tons of practice papers. You'll need to spend time with Level 2 to understand the materials and make time for practice tests.
Level I of the CFA Program usually has the lowest pass rate which could imply it's the most difficult exam in the program. However, this will not apply to every candidate because each person will have different strengths and weaknesses.
The Level II CFA exam is widely considered to be one of the most difficult professional exams. Of the three CFA exams–Level II often claims the title of the most difficult level.
However, let's put things into perspective: the CFA Level 1 exam is not a math test. The CFA Institute has made it clear that calculations will account for no more than 30% of the questions on the exam. To put it in numbers, that's a maximum of 54 out of the 180 questions.
But obtaining a CFA is no easy feat. CFA exams are considered the most challenging out there—even harder than medical school or law school exams—with pass rates under 50%. The certification process demands years (yes, you read that right) of dedication, time, and effort.