What is the format of the Level II CFA exam?

<p>The entire Level ll CFA exam consists of MCQ questions. It is divided into two separate three-hour sessions with a total no. of 88 questions.&nbsp;There are sets which are based on a single vignette that provides a scenario or case study.&nbsp;</p>

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<p>The Level II CFA (Chartered Financial Analyst) exam has a unique format compared to the other CFA exam levels.</p><ol><li>The CFA Level II consists of item sets, known as vignettes which are designed to assess the candidate's ability to apply knowledge rather than just recall facts and definitions.&nbsp;</li><li>The exam will be conducted in two sessions - morning and afternoon.</li><li>Each session will be 2 hours and 12 minutes long, with an optional break in between.</li><li>Each set will be followed by four or six MCQs.</li><li>The total duration of the exam will be 4 hours and 24 minutes, divided equally into two sessions.</li><li>The Level II CFA exam typically includes 21 item sets in total.</li><li>The Level II exam builds upon the foundational knowledge tested in Level I.</li><li>It focuses on the application of that knowledge to specific real-world scenarios and cases and includes topics such as ethics and professional standards, quantitative methods, economics, financial reporting and analysis, corporate finance, equity investments, fixed income, derivatives, alternative investments, portfolio management, and wealth planning.</li></ol><p>Each question will be of three points, and there will be no penalty for wrong answers. The exam will be conducted in a computer-based test mode, and the number of questions has been reduced to 180. The duration of the exam has also been reduced, and there will be no more June exams at any level.</p>

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