CFA CFA Level 2 Item sets – answering strategies

Item sets – answering strategies

  • This topic has 15 replies, 8 voices, and was last updated Mar-17 by Anonymous.
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    • Anonymous
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      Wanted to share my strategy and see how it differs with other approaches:

      I first read all the questions, then kind of skim the vignette to see which question is relevant to where. I then dive down in more detail to work out the answer to each individual questions. This way is fast, but sometimes I miss bits of information that could be relevant (resulting in annoying wrong answers).

      Anyone else have an alternative strategy?

    • Reena
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      Isn’t this what @Sophie ‘s article indicated?

      Mine is similar. Yes read answers first, then read the vignette thoroughly, highlight areas in the vignette that may provide the answers to the questions, then move on to questions, with a little back-and-forth to confirm the answer you chose.

    • christine
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      Yes, I’d highly advise against reading the whole vignette first. This will almost certainly lead to time issues.

    • Sarah
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      For practice exams so far I like to read the whole vignette even though it is advise against. It is such a bad habit, I need to remember to read the question first. Though highlighting as you go does help with the time issue.

    • fabian
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      Do you have problems with keeping within the time limit then @diya?

    • Sarah
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      @fabian no. Though I can give you a more accurate answer in about two weeks time. Right now I am reviewing the material before I start with practice exams.
      I do know that my reading speed is above average and that is probably helping me with the time issue.

    • Maroon5
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      It’s more about sticking to your own preference, there’s no set rules here. Just whatever works. So don’t worry @diya.

    • Anonymous
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      I can’t make time otherwise (i.e. 18 minutes). Despite having less questions, making it in time is a big issue for me.

    • Sarah
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      @tim I read Moonwalking with Einstein before I started studying for level I, it was really helpful. It helps with memory techniques, so even if reading takes awhile you can compensate with not having to think about how to solve the question. The University I went to was big about not having time to think during exams and that you “either knew it or didn’t”.
      Also when I do item sets I don’t give myself the full 18 minutes, I budget for exam day anxiety and panic and give myself 16 min.

    • christine
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      Although some on the 300 Hours team had issues with timing (I know @sophie did) but strangely I never did. I was always panicking that I would run out of time, and end up with an hour extra or something.

      I’m just anal that way – if I were to play a video game I’m the one that saves up all the ammo but ends up getting shot dead.

    • Maroon5
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      @christine, that’s just good discipline! 😉 I like the ‘shoot-and-go’ concept @Sophie advocated too. Feels like a video game

    • jimmyg
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      I tend to skim the paragraph (literally 10-20 seconds) to see what the vignette is about, then go through the questions, then go back to the vignette again. Works well for me.

      Sometimes in the first few seconds I find out it’s a topic I’d rather get back to later, I just skip that whole vignette 😀

    • MattyJ
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      I’m just anal that way – if I were to play a video game I’m the one that saves up all the ammo but ends up getting shot dead.

      A perfect CFA situational example!

      1) opportunity cost…if I use all my ammo now, what opportunity might I possibly be giving up later on?

      2) cast flow…if I spend all my ammo now, I won’t have the necessary liquidity to support me later on when times are tough! But if I don’t make the necessary investment then I might not last long enough to find out!

    • Reena
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      Sounds like a risk appetite question @MattJuniper

    • fabian
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      @mattjuniper saving on opportunity cost at the risk of catastrophic failure (i.e. virtual death)…

    • Anonymous
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      @mattjuniper @christine I’m quite anal on time that way too. I really freak out when I know I’m over time.

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