Recommendations

• Spend four hours reading Study Session 4 of the Level II CFA Program Curriculum © taking notes.
• Spend one to two hours creating flash cards from this study sheet and the official material.
• Spend four hours taking practice questions.

Conclusion

With economics, a test taker can likely expect one item set (six questions).  There could be some basic math calculations from growth, government regulation, trade, GDP, and balance of payments, but it is important to understand this portion of economics conceptually as well.  The currency exchange material is highly likely to be tested.  If not in the econ item set, then the concepts and formulas could appear in other sections.  CFAI considers understanding currency relationships a mandatory skill for investment analysts, so be sure to spend time on these applications.