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Up0
Good afternoon,
Plan for the final push here are as follows. Review the 3 or 4 Schweser practice exams I haven’t thoroughly looked at, take another Schweser mock, and the CFAI mock then review those. As time permits, hit the sections with the most room to improve towards overall score. At the moment, that’s looking like FRA (shocker, right?) with test average around 67%. I took vacation time from work this week so I’ll be putting in pretty heavy hours.
Full 240-question (Schweser) practice exams have been: 64, 65, 68, 66, 72.
Confidence is definitely building as I hone in on things I missed in previous exams.
In summary:
- Review practice exams, working questions and jotting notes on qualitative questions
- Take 2 more practice exams (1 Schweser, 1 CFAI)
- Review areas (FRA and Ethics primarily)
- Buy backup calculator and a bunch of pencils for the big day so supplies aren’t an issue
If anyone wants to share final week routines they’ve had luck with please do, or my fellow Level I candidates can share what you plan on doing in the next few days.
Thanks,
Le Chiffre
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Up4
I know it’s easier said than done but get FRA sorted out as much as you can. FRA was my weak point in the exam mainly because there’s just so much to memorise in Level 1 and very little is intuitive.
Personally I’ve never practiced Ethics much and just tried to memorise the standards. I know many won’t recommend it but for me Ethics is always very subjective and I quite often find two right answers and don’t know which one is really right. With other subjects it’s usually like either I know the answer or I don’t know the answer. Besides that you can always practice other stuff and expect it to come in the exam but with Ethics the questions can be anything.
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Up2
I’m bad with ethics. I do okay with the KS ethics but there is a VERY clear distinction between how KS asks ethics questions and how cfai does. Well, from what I’ve seen on their website. KS tends to be more “Did John violate this standard?” Where as cfai seems to be more “Which standards did John violate? “. That’s where I get tripped up as I over analyze it. In my head I’m like oh ya it’s def a violation of 1A but then ill look at answer B and it’ll have standard 1A and another one and I’ll try to justify it being both.
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Up2
@RoyD @googs1484, yes I completely agree with you both on Ethics. Ethics involves a lot of splitting hairs on the finer points of the Code and Standards. I suppose that since there’s not really that much Ethics material they have to go deep with the questions.
Some finer points I’ve had to drill down are GIPS, urging companies to make nonpublic material information public, and priority/cost of transactions.
Googs, as long as you don’t suffer amnesia you are looking good.
Roy, yeah FRA is getting plenty of attention. You really can never know too much about accounting.
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Up2
@RandallK27, for the direct/indirect, I think that you look DIRECTLY at cash in/out flows, and for the indirect method you derive the cash flows INDIRECTLY. I’m sure you’re not alone in cash flow questions, it can be quite confusing.
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Up0
Honestly, no idea what I should be doing. I finished all my KS practice papers. All qbank questions. All CFAI mocks. I didn’t do the topic exams though cfai has. So I should do those. I just bought @PassedTense mocks and questions as a final push. I won’t bother posting my practice paper scores again because some think I’m “flaunting”. In reality I’m nervous as ****. I don’t feel comfortable at all. Everyone says I’ll be fine but I know how “fine” I feel. I’ve put in 600 hrs of prep for this and to fail would crush me.
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Up0
I can understand but if your KS practice papers averaged you 70+ then you should be fine. Also 600 hours is a lot more than enough. I personally put in almost 500 hours and did well. Just relax and go ahead.
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Up0
@LeChiffre I found the idea of an analyst urging a company to make nonpublic material info public pretty difficult to grasp.
I’ve been scoring pretty decent on Ethics thus far, however, I do run into a question or two that really trip me up. I really want to spend this week strengthening FRA since my other sections are okay.
Anyone have tips for Indirect and Direct cashflow statements?
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