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CFA Level II item sets and session timing

CFA Institute lists 22 item sets with 88 questions across two 132-minute sessions, with 11 sets per session.

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Read the item-set structure

Current official structure
FeatureFormat
Item sets22
Accompanying multiple-choice questions88
SessionsTwo sessions of 132 minutes
Sets per session11
Scoring20 sets scored; two not scored

Include vignette reading in the budget

132 minutes divided by 11 sets gives an arithmetic average of 12 minutes per set. Dividing by the corresponding question count gives three minutes per question on average, but that time also needs to accommodate the vignette. It is not three minutes of calculation in addition to unlimited reading time.

Rehearse a case-reading workflow

For an original practice case, identify the question’s requested quantity and the relevant paragraph or table. Keep units, dates and assumptions beside the calculation. Record when a reread was needed and what information you missed initially.

Review case navigation separately from subject knowledge

A wrong response can come from misunderstanding the concept or retrieving the wrong detail from the case. Record those as different issues. The rehearsal workflow is an original study method, not a claim about the optimal sequence for every exam vignette.

Further references