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Vera
Verbal Flashcards

Item sets reward explanation, not recall.

Valuation reasoning drilled aloud, with a why after every answer.

Level II asks you to apply, and applying is a different skill from remembering.

What Vera actually is

A phone call with someone who is not there. You say the thing out loud, they answer the way a real person would, and you get to do it again — as many times as it takes, with nobody listening.

1She calls youA real phone call, about ten seconds after you tap. Lock screen, headphones, car — wherever you take calls.
2She plays the other personNot a coach reading tips. CFA Level II Verbal Review, with someone on the other end who answers back.
3She pushes when you are vagueFollow-up questions, interruptions when you ramble, and a straight read at the end on what landed.
Start Level II Review

15 minutes free · no card needed

Start Level II Review

15 minutes free · no card needed

“What if I am bad at it?”Everyone is, on the first one. That is the entire reason it happens here and not there.
“What if I do not know what to say?”She asks first and follows up on whatever you answer. You never start from a blank page.
“What if it is awkward?”It is, for about twenty seconds. Then it is a conversation, and nobody heard the twenty seconds.

Not practising doesn’t save you anything.

The ticket, the evening, the weeks of applying — all of it is spent before anyone says a word. The practice is the only cheap part, and the only part that changes how the rest goes.

Start Level II Review

15 minutes free · no card needed

What she'll actually ask

She asks these the way a real person would, then follows up on whatever you say.

  1. Which valuation model fits here, and why not the other one?
  2. What happens to the value if this assumption moves?
  3. What is wrong with the analyst's reasoning in this vignette?
  4. Which input is the answer most sensitive to?
  5. Justify that choice to me.
More about this one

Level II shifts from knowing to applying, delivered through vignettes where several plausible answers sit close together. Memorization carries you much less far than it did at Level I, and candidates who study the same way tend to stall. Vera drills valuation reasoning verbally — which model, why that model, what changes when an assumption moves.

What she listens for

Model selectionKnowing all the models without knowing when each applies.
Sensitivity reasoningWhich input dominates the answer is a recurring vignette question.
JustificationBeing able to defend a choice against a close alternative.
  • CFA Level II
  • item set vignettes
  • equity valuation models
  • discounted cash flow
  • assumption sensitivity
  • fixed income analysis
  • derivatives
  • financial statement analysis
“I studied Level II like Level I and got destroyed on the mock. Explaining choices out loud was the correction.”
Chloe S.

Related practice

CFA Level I Verbal ReviewEthics, quant, and financial reporting drilled aloud in short sessions.FRM Part I Verbal ReviewQuantitative analysis and risk models drilled aloud.CPA FAR Verbal ReviewFinancial accounting and reporting concepts out loud.GMAT Verbal PracticeCritical reasoning and sentence correction drilled aloud.

Common questions

How is Level II different?

Application over recall, delivered in vignettes with close alternatives. Study methods that worked at Level I often do not transfer.

Can it work through calculations?

It can walk the reasoning and setup. Do the numeric work alongside on paper.

Session length?

Twenty to thirty minutes on one topic area beats broad skimming.

What if I am bad at it?

Everyone is, on the first one. That is the entire reason it happens here and not there.

What if I do not know what to say?

She asks the first question and follows up on whatever you answer. You never start from a blank page.

What if it is awkward?

It is, for about twenty seconds. Then it is a conversation, and nobody heard the twenty seconds.

Ready to try it?

Your first 15 minutes are free. No card required.

Start Level II Review