Rigorous solutions of electromagnetics problems involving lossy dielectric objects are considered. Problems are formulated with two recently developed formulations, namely, the combined-tangential formulation (CTF) and the electric and magnetic current combined-field integral equation (JMCFIE), and solved iteratively using the multilevel fast multipole algorithm (MLFMA). Accuracy and efficiency of solutions are compared for different objects and conductivity values. We show that iterative solutions of CTF are significantly accelerated as the conductivity increases and CTF becomes a good alternative to JMCFIE in terms of efficiency. Considering also its high accuracy, CTF seems to be a suitable formulation for the analysis of lossy dielectric objects.