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CFA Level II Exam

Item-set based valuation and analysis across all CFA topic areas.

Start Academy · 209 lessons Take practice test Study guide Knowledge base All 238 questions Flashcards

Exam at a glance

Questions

88

Time limit

270 min

Passing

The CFA Institute does not publish a specific passing score. The minimum passing score (MPS) is determined by the Board of Governors each year after the exam administration.

Practice bank

238 Qs

What the exam covers

  1. 1

    Ethical and Professional Standards

    10% · 19 lessons

  2. 2

    Quantitative Methods

    10% · 13 lessons

  3. 3

    Economics

    5% · 16 lessons

  4. 4

    Financial Statement Analysis

    15% · 29 lessons

  5. 5

    Corporate Issuers

    10% · 17 lessons

  6. 6

    Equity Investments

    15% · 28 lessons

  7. 7

    Fixed Income

    15% · 40 lessons

  8. 8

    Derivatives

    10% · 19 lessons

  9. 9

    Alternative Investments

    5% · 10 lessons

  10. 10

    Portfolio Management and Wealth Planning

    5% · 18 lessons

How to prepare on Step2Study

  1. 1. Learn

    Work through the Academy modules — short lessons with key facts and memory tricks.

  2. 2. Practice

    Take the numbered practice tests with instant feedback, flashcards and mental maps.

  3. 3. Simulate

    Sit a full timed simulation to check you are ready for exam day.