It would be safe to generalize that most CFA certificate holders would say that level 2 is the most difficult of the CFA exams. However, with patience, dedication and practice, candidates can pass the Level 2 exam. For me, level 2 is harder to prepare (because it has more volume) but easier to pass (if you are well prepared). If candidates find mock exams easy and their grades are good, then they have prepared well for the CFA exam.
To pass the level II exam, candidates must obtain at least 70% in several subjects and can only afford to obtain between 50 and 70% in one or two of the least weighted subjects. With the same number of topics as Level 1, the Level 2 CFA addresses each topic in great depth, requiring much more reading time. For CFA certificate holders, I think there is general consensus that CFA Level 1 is the easiest of the 3 levels of the CFA exam. Recently, the CFA Level I exam has been especially difficult for program candidates, which is reflected in the current CFA approval rates.
The testimony of my classification in level III as the most difficult will be that I failed in level III, which is very likely. When it comes to studying for the CFA exam, there's no way to know what combination of questions will be asked. To pass the level I exam, candidates must obtain a score higher than 70% on several subjects and can only afford to obtain a score lower than 50% on one or two of the least weighted subjects. But which methods are the most effective? There are numerous study techniques you can use while preparing for all 3 levels of the CFA.
To study for the CFA Level I exam, candidates must begin by familiarizing themselves with the curriculum topics of the CFA Program. From an objective perspective, the difficulty of the CFA level 3 is equivalent to that of a master's degree, while the level 2 of the CFA is equivalent to that of a bachelor's degree program. One of the best ways to prepare for the CFA is to review the study guidelines provided by the CFA institute and follow up with the institute's practice tests to see if you're ready. As the CFAI does not issue traditional qualifications, to pass level I, candidates must demonstrate that they are prepared to advance to level II.
At level 1 of the CFA, all multiple-choice questions (MCQ) are independent of each other and are often much shorter and more direct compared to those in levels 2 and 3.Level I of the CFA program usually has the lowest pass rate, which could mean that it is the most difficult exam in the program.