CFA CFA General Level 3 silly mistakes you did in the mock exams – something to learn from!

Level 3 silly mistakes you did in the mock exams – something to learn from!

  • This topic has 2 replies, 2 voices, and was last updated Apr-20 by cfachris.
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  • cfachris
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    Hi all, just thought posting this may be useful for all candidates, given it’s the practice exam season. May be useful to start one for each level 

    Hopefully we’ll get a nice list of not-to-do’s for the exam. Plus we all can blow some steam here a little  :s 

    So I’ll have a go first:

    My main mistake is rushing through the reading and misreading ‘least likely’ and ‘most likely’ in questions. Garghhhh

    fp92
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    Good idea @cfachris, although I’m only a L1 candidate, I did mess up the currency exchange notation and hopefully this is helpful for L3 (and L2) readers out there as well.

    Just copying down @Sophie’s helpful clarification in my other post (https://forum.300hours.com/discussion/3572/cfai-currency-quotation-confusion-foreign-vs-domestic-currency#latest), in CFAI curriculum (for exam’s purposes):

    • EUR/USD = 1.2 means 1 USD = EUR 1.2. Just read the slash (/) as EUR 1.2 per USD 1
    • EUR:USD = 1.2 means USD 1.2 = EUR 1, i.e. equals USD/EUR = 1.2. 

    So the colon (:) is directionally opposite to using a slash (/), i.e. EUR:USD = USD/EUR in CFAI curriculum.

    cfachris
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    Adding another which I made a mistake on: 

    I forgot to subtract required rate of return when calculating alpha  :s

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