- This topic has 13 replies, 4 voices, and was last updated Apr-173:40 am by
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Up1
I’ve been going through the topic weight ranges provided by the CFA Institute for the Level II exam and working out how many item sets they would equate to, counting both morning and afternoon sessions. For example, Ethics is fixed at 10%, so that means a total of 2 items sets out of 20. For FRA it is 15-25%, which is 3 to 5 item sets out of 20. Equity Investments is supposed to be 20-30%, so that ought to be 4 to 6 item sets, but the CFAI mock exam has only 3 item sets total for this topic (going by the front sheet of the mock exam). I would have thought there should be at least 4 item sets for Equity, given that this same mock exam has 4 item sets for FRA. What do you think? Maybe there are questions relating to Equity, but coming in an item set for a different topic (e.g. Alt Investments)? I haven’t actually looked at the exam questions, I’m saving that for when I’m ready to take the test!
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Up3
Hi @christine thanks for the % weighting table, are you saying that there’s a possibility that each item set could have questions from different topic (e.g. derivatives vs fixed income, etc) ?
I remember reading it somewhere that it’s usually quite down to per reading basis for each item set?
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Up3
@christine I couldn’t recall where I read that but it could have been my mistake.
thanks for the info!
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Up2
Thanks @christine, that was quite informative. I didn’t know until this minute that each question gets 3 points!
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Up2
@diya I’m surprised. Usually out of 6 questions, 1 or 2 questions would incorporate some aspects from other topics, especially if they naturally overlap.
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Up2
@diya good to know, thanks for the heads up. Btw, where did you get the 2012 CFAI mock? As far as I’m aware the 2013 mock isn’t out yet?
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Up2
@diya for the dec 2012 I think they did send out an email informing about the mock, didn’t get any this year. Thanks will download that shortly! 😀
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Up1
@christine and @vincentt I just worked through the 2012 mock exam (CFAI issued) and I found that the mini-case was topic focused.
And on the 2013 exam it gives a breakdown of question by topic.
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Up1
@diya did you mean, each item set is per topic basis?
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Up0
Hi @shantala – welcome to the forum!
Another point of reference is the exam results breakdown, i.e. the results email you get when CFA Institute announces the results. That break down is as follows:
Topic Points Percentage Alternative Investments (18) 18 5% Corporate Finance (36) 36 10% Derivatives (36) 36 10% Economics (18) 18 5% Equity Investments (72) 72 20% Ethical & Professional Standards (36) 36 10% Financial Reporting & Analysis (72) 72 20% Fixed Income Investments (36) 36 10% Portfolio Management (18) 18 5% Quantitative Methods (18) 18 5% Total 360 100% In terms of thinking about item sets, it’s less straightforward than that. As the item sets allow more in-depth questions compared to Level 1, you’re right in suspecting that item sets mix several topics into one question, combining concepts learned across the curriculum. It’s not a simple task of saying ‘topic X will have Y question sets’ for some topics, although for others (Ethics, for example) you normally can rely on for a set number of item sets to appear in the exam.
Hope that helps. You can also find more analysis information about Level 2 topics here: http://www.300hours.com/1/post/2012/08/analyzing-passfail-differences-in-level-ii-2012.html
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