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CFA® Level 2 Course Training

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    CFA Level 2 Classes - Overview

    TWSS is 10+ year old CFA® Prep Provider and gives training for all subjects of the CFA® Program with a 91% Passing Rate in both classroom and online program.

    CFA Coaching Eligibility

    Who can take up this course?

    Essential Features

    Trust and Confidence

    We have trained 5,000+ CFA Aspirant. With enough experience in hand, our course is excellently structured.

    Full-time Trainers

    We don’t hire part time faculty. All our CFA trainers are fully employed with us to help you on every step.

    High Passing Rate

    We have been able to maintain a high passing rate of more than 90% in our Coaching.


    Practical Learning Methods

    We make sure you retain the learnings by using practical and real life examples.


    CFA® Level 2 Curriculum

    Topic Learning
    CFA Institute Code of Ethics and Standards of Professional Conduct and Guidance for Standards I – VII

    This topic is fundamentally similar to the standards studied in Level 1 itself. However, the complexity with regards to the questions in examination is obviously expected to be higher.

    Topic Learning
    Application of the Code and Standards

    Practical Case studies pertinent to the Codes and Standards discussed in the Reading 1 & 2 are discussed here.

    Topic Learning
    Introduction to Linear Regression

    Linear Regression explains the change in one dependent variable in terms of the change in independent variable.

    Topic Learning
    Multiple Regression

    Multiple Regression refers to the regression analysis with more than one independent variable.

    Topic Learning
    Time Series Analysis

    Time Series is a set of data points indexed in a time order. Discussion around calculation of trend value , identifications of violations such as heteroskedasticity, nonstationarity and serial correlation.

    Topic Learning
    Machine Learning

    The statistician models discussed in the previous topics assume a set of assumptions about the distribution of the data points, whereas the ML is the process of preparing a computer system to identify patterns within a large database without relying on any complicated assumptions.

    Topic Learning
    Big Data Projects

    Big Data refers to the humongous volume of information available due to the modern technology. The topes focuses on the basic understanding the same including, terminology, processes and techniques.

    Topic Learning
    Probabilistic Approaches: Scenario Analysis, Decision Tree, and Simulations

    Discussion about the utility of simulations as a risk assessment tool.

    Topic Learning
    Currency Exchange Rates: Understanding Equilibrium Values

    Discussion about base currency and quote currency, bid-ask spread, international PPP etc. This is a very testable portion in exam involving a lot of number crunching.

    Topic Learning
    Economic Growth and Investment Decisions

    Economic growth is measured by growth in a country’s GDP. This topic discusses around the factors promoting/curtailing growth and forecasting growth. Overall, its an important topic in order to develop an overall viewpoint on the economy.

    Topic Learning
    Economics of Regulation

    Regulations in an economy play a key role in the economic growth and valuation of an enterprise. This theoretical focuses on broad understanding of the types of regulations and its implications thereof.

     
    Topic Learning
    InterCorporate Investments

    This chapter teaches us the accounting principles for holding, joint venture and associates.

    Topic Learning
    Employee Compensation: Post Employment and Share Based

    Post Employment Compensation refers to the super annuation benefits. Share based payments includes the SARs and ESOPs.

    Topic Learning
    Multinational Operations

    Discussion around local currency, functional currency and presentation currency and its relevance for multinational companies.

    Topic Learning
    Analysis of Financial Institutions

    Accounting / Valuation of Financial Institutions (Banks, NBFCs and Insurance Companies) is peculiar in nature. This topic focuses on the same.

    Topic Learning
    Evaluating Quality of Financial Reports

    CFA L2 curriculum focuses on the valuation aspect of the securities. If the quality of the financial reports are compromised, the end result would not be reliable either.

    Topic Learning
    Integration of Financial Statement Techniques

    This topic is a bridge between FRA and equity/corporate finance.

    Topic Learning
    Capital Budgeting Decisions

    Capital Budgeting Decisions involve decisions pertaining to the long term capital allocation of an entity. Coverage: Calculation of NPV, IRR, Decision, Scenario Analysis and Decision Making.

    Topic Learning
    Capital Structure

    This topic discusses various capital structure theories and its impact on the overall value of the firm.

    Topic Learning
    Analysis of Dividends and Share Repurchases

    Disbursement of the profits realized by an entity is a critical decision. This topic explores various theories of dividend policy and stock buybacks.

    Topic Learning
    Corporate Governance and Other ESG Consideration in Investments

    Corporate Governance is the first and foremost eligibility requirement for the security of a company to be investable Similarly, ESG (environmental, social and governance factors) also play a critical role in the analysis of the company.

    Topic Learning
    Merger and Acquisitions (M&A;)

    This topic performs an in-depth review of the corporate finance piece of the M&As.; Its important to understand the accounting piece of the events post M&A; had already been discussed in the topic 13.

    Topic Learning
    Equity Valuation: Applications and Processes

    This chapter provides a glimpse into the “equity” portion of the CFA L2 Curriculum.

    Topic Learning
    Return Concepts

    Computation of the different types of return including HPR, returns based on CAPM, Fama Fench Model etc.

    Topic Learning

    Industry and Company Analysis

    This topic focuses on the qualitative aspects of valuation framework and lays the foundation for the number oriented topics ahead in the curriculum.

    Topic Learning

    Discounted Dividend Valuation

    Dividend Models utilize the forecasted dividends as an estimate of the cash flow to the shareholders. In this topic, we note various models around dividend decision of an entity.

    Topic Learning

    Free Cash Flow Valuation

    Residual cash in the business in the hands of firm (bondholders and equityholders) is termed as FCFF. Similarly, residual cash is the hands of the equityholders is termed as FCFE. FCF is the single most important factor in computing the intrinsic value of an enterprise.

    Topic Learning
    Market Based Valuation: Price and Enterprise Based Value Multiples

    Multiple Based valuation relies on the comparable (either price or transaction) to identify the value of the enterprise in question.

    Topic Learning

    Residual Income Valuation

    This is yet another methodology to perform the valuation of an enterprise – although, the practical utility is industry is quite limited, but the testability from exam perspective is pretty relevant.

    Topic Learning
    Private Company Valuation

    Broad discussion on the adjustments required in the methodologies discussed thus far to suit the needs of valuing a private company.

    Topic Learning
    The Term Structure and Interest Rate Dynamics

    This topic lays the foundation for the fixed income subject. 1. Basics of interest rate term structure and its effect on the bond prices. 2. Discussion on forward rates, duration. 3. Discussion on Spreads.

    Topic Learning
    Arbitrage Free Valuation Framework (AFV Framework)

    AFV method value the securities in such a manner that the possibility of riskless profits is negated.

    Topic Learning
    Valuation and Analysis of Bond with Embedded Options

    Embedded Options would include call options, put options. The candidates are expected to understand the impact of options on bond’s duration and convexity.

    Topic Learning
    Credit Analysis Models

    Credit Risk refers to the risk of default and deterioration in the credit quality (in case default does not occur) of the security.

    Topic Learning
    Credit Default Swaps

    CDS is an insurance contract wherein the protection buyer is compensated by the protection seller in case of an credit event. This topic details the pricing and valuation of CDS along with utility of CDS in managing the credit exposure.

    Topic Learning
    Pricing and Valuation of Forward Commitments

    Forward Commitments refer to Forwards, FRAs, and Swaps. This topic expects you to have a grip over the pricing and valuation of the mentioned instruments.

    Topic Learning
    Pricing and Valuation of Forward Commitments

    Contingent Claims refers to options. This topic expects you to have a grip over the pricing and valuation of the mentioned instruments.

    Topic Learning
    Private Real Estate Investments

    This topic focuses on the asset class of real estate and the nuances involved in the same.

    Topic Learning
    Publicly Traded Real Estate Securities

    Publicly traded Real Estate Securities include REITS, MBS and REOCs.

    Topic Learning
    Private Equity Valuation

    This topic review assesses the perspective of both, the private equity firm and its investors. It discusses pre-money and post-money valuation of the investee company.

    Topic Learning
    Introduction to Commodities and Commodity Derivatives

    In this topic, a broad understanding of commodity market is provided to the reader along with the applicability of the overall learning and adjustments thereof with respect to the commodity market.

    Topic Learning
    Exchange Traded Funds: Mechanics & Applications

    ETFs represent securities in a benchmark portfolio that trades on secondary market. The discussion is basic in nature involving portfolio perspective on ETFs.

    Topic Learning
    Using Multifactor Models

    This topic extends form the CFA L1 & CFA L2 discussion on multifactor models and its implications on an overall portfolio level.

    Topic Learning
    Measuring and Managing Market Risk

    The different approaches to measuring risk includes VaR, sensitivity risk and scenario risk and its applicability on a portfolio.

    Topic Learning
    Economics and Investment Markets

    Discussion around business cycles, sector rotations, business cycles, and cyclical effects on valuation multiples.

    Topic Learning
    Analysis of Active Portfolio Management

    This topic explores an overall review of the portfolio management including active return including its bifurcation, Information ratio, Sharpe ratio etc.

    Topic Learning
    Trading Costs and Electronic Markets

    In this topic, execution piece of an investment is focused upon.

    CFA Level 2 Online Classes Duration

    The program is meant for all candidates seeking to appear for exams conducted by the CFA® Institute in the current or next year.

    Duration & Fees

    Level I Program

    Fees - ₹29,500 Onwards

    Enroll Now

    Level II Program

    Fees - ₹31,000 Onwards

    Enroll Now

    Placement Assistance

    With an experience of placing 4,000 students across 250+ Investment Banks, we recommend the students to opt for our Investment Banking program, along with the CFA prep course to make their profile more relevant for core finance job roles.

    Thus, we offer our placement services to students who opt this combination of courses.

    Feel free to view our different packages here if you want to enroll for our placement services

    Coaching Online Course Trainers

    Our online classes are conducted by experts who themselves understand the nuances of this exam and give their full time dedication to our institute.

    CA Karan Singh

    Ex - Infosys, ARC Finance CFA Trainer and Investment Banker Visiting faculty at ICAI & MBA Colleges Delegate, Harvard Manage Mentor Program

    Read More

    Frequently Asked Questions

    The CFA exam has three levels. You should prepare for at least six months for each level. So, if you pass all three levels one after another, you could complete the CFA exam in 18 months. But it’s a bit challenging to pass all three levels in a row because most students have other things to do besides studying for the CFA, like work or other responsibilities. On average, it takes candidates around 3 to 4 years to finish all the levels.

    • CFA Level I exam pass rate close to 41%
    • CFA Level II exam pass rate close to 45%
    • CFA Level III exam pass rate close to 52%

    (Based on 10-year average pass rate)

    The CFA Institute doesn’t reveal the exact minimum passing score. Instead, the MPS (Minimum Passing Score) for each attempt is determined by the CFA Institute Board of Governors. From what we’ve observed, scoring around 70% is generally needed to successfully pass the exam.

    • For CFA Level I, there will be 180 multiple-choice questions (MCQs) with three options: one right and two wrong.
    • For CFA Level II, there will be 22 case-study MCQs. Each case study will have 4 MCQs.
    • In CFA Level III, there will be 11 case-study MCQs and 11 sets of essay questions.

    Each level of the CFA exam takes place in one day and lasts for 4 hours and 30 minutes.

    For CFA Level I and II: Within 5-7 weeks of taking the exam

    For CFA Level III: Within 6-8 weeks of taking the exam 

    Meet any of the following enrolment requirements:

    • Bachelor’s degree
    • Undergraduate student (while they are in their second last year of graduation)
    • Professional work experience including internships (4,000 hours of work experience acquired over minimum of three years). Professional work experience does not need to be investment related.

    One-time enrolment fee of $350 when you register with CFA Institute. For each level, you have to exam fee. Early exam fee $900 and Standard exam fee $1,200.

    Additionally, candidates have to pay 18% GST on above fees.

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