Goal: 7 Mock Exams before Exam Day [Addendum]

@Diya – don’t worry. One bad paper shouldn’t topple your confidence. You’re ready and prepared now! Just spend the last few days with some light revision or light questions.

Good luck! 😀

@sidmenon

it isn’t messy !

Anyone else noticed that most of the questions in the CFAI mock are actually from the sample exam? Are they getting lazy!??

@diya The CFAI-issued mock always made be doubt myself, because it’s always a curveball compared to Schweser. But it’s a good balance to give you a good idea of what happens at the exam, so whatever doesn’t kill you…

@alta12 i don’t have issue on this but for Q10 PM is crap since they missed out the entire sentence with important information.

As for Q52 PM, even though it stated that the annual growth would be 10% for 2013 and 2014 but they have given you the FCFE items for 2013 so you would only need to grow by a year (2014).

“Next year (2013), FDF will realize $1m in CFO……”

@Diya: So I am to do my mock tomorrow 12 pm IST. Do you suggest I skip it for doing a better reading of secret sauce?

I just finished the 2013 CFAI Mock (AM & PM) under timed conditions and got a 73% on both (44/60) which I’m pleased with considering I found the PM test to be extremely confusing. I found the first FRA vignette (PM) to be the most difficult I have come across in all of the tests that I have taken (4 of 6 wrong). Analyst forum has a thread called surveymonkey that calcs people’s submitted scores for the mock and I think the average is around 68%. Keep cranking!

@Diya I hope that the L1 mock isn’t as messy because I’m planning to do it tomorrow too.

@sidmenon L1 can’t be messy, as the messy part comes from the vignette.

Can somebody help me with nwcinv formula. Is it the same net operating asset? I am always confused.’

i second that @diya there’s so much error in CFAI’s mock, and those are not minor errors at all..

Is this just for Level 2? And why was the mock revised btw?

i don’t know bout other levels, you may check on the website. Just go to the download page for the mocks it should state when it was last revised, etc.

@Zee I felt like I needed to add more to my blog post after reading your comment.
I don’t think this year’s mock is a representation what happens in the real exam, I am not exaggerating the level of mistakes I found in the mock exam. From what I recall from the level I exam it was pretty straightforward and easy to comprehend – remembering the correct solution is another matter . 😉

@diya Strange. I remember the quality being fairly good in my years. Quality dropping…?

The l2 pm cfai mock was much harder compared to the am one.somewhat shattered my confidence.I thnk I ll stick to schweser qbank for the remaining few days

@diya afternoon.

@peru969 NWC = (Current assets – Cash) – (Current liabilities – ST debt)

NOA = (Total assets – Cash) – (Total Liabilities – Total Debt)

@diya @vincentt does the answer to Q53 in the CFA mock makes sense to you?

@alta12 yup it does, as far as I can see, are you asking about the control premium?

Okay, got it. The Level 1 mock seems to have been revised on 23rd May too.

Okay @vincentt and @lulu123. Thanks!

OMG. Struggled with Mock afternoon session. Devastated.

@vincentt Thanks I worked that one out in the end. I had firm value not EQ.

What about PM Q52? I applied the higher growth rate for 2 years to calculate terminal value but it was meant to be for 1 year only. The wording in the vignette was a bit confusing with the placing of the semicolon. Did you have any trouble with the wording?