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2011 Level III CFA AM exam – Question 7

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    • Avatar of Alta12Alta12
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        16 Oct 2017 at 2:10 am
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        @vincentt @ravivooda This entire question looks like corporate finance in level II, in 2013. I don’t think it’s in Level III LOS for 2014. Could you please let me know your thoughts on this. Thanks!

        Also, is aversion of ambiguity (Question 1 of the same paper) covered in 2014 CFAI notes?

      • Avatar of Sophie MaconSophie Macon
        Keymaster
          16 Oct 2017 at 3:34 am
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          @Alta12‌ keep at it, the first one is always like that.

          How are you level 3 group (@ajfinance @marc @vincentt, @RaviVooda‌ @MockTurtle‌ @Betankrich‌ @MM12‌ ) doing by the way? Which practice papers are you guys aiming for?

        • Avatar of vincenttvincentt
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            • CFA Level 3
            16 Oct 2017 at 4:29 am
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            @RaviVooda‌ I don’t think I have the time to complete all 6 schweser’s practice exams, plus I think the schweser practice exam isn’t entirely exam like as they ask things like to list out all 7 due diligence criteria, etc.

          • Avatar of RaviVoodaRaviVooda
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              • CFA Level 3
              16 Oct 2017 at 3:08 am
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              @Alta12, see 2013 paper, you will get a feeling. they have given the blank papers also

            • Avatar of Alta12Alta12
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                16 Oct 2017 at 3:40 am
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                @sophie It was a mix of not understanding the question, forgetting the formula/detail and plus silly mistakes! I have an entire page of major + minor issues to address. Long night ahead! I’m planning to do all CFAI practice exams and 6 full Schweser. I also have access to FinQuiz practice exams but not sure if they are any good.

              • Avatar of Sophie MaconSophie Macon
                Keymaster
                  16 Oct 2017 at 4:10 am
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                  @RaviVooda‌ @alta12 – have you heard of Fitch’s Level 3 mock as well? I’ve tried it out and it’s pretty good. What concerns me is you may “get used” to Schweser’s style of questions, hence the emphasis on trying a diverse set of practice papers from different providers. I didn’t go past year papers the last time as I wanted to focus on current years’ material, although 1-2 years probably didn’t vary too much.


                  @RaviVooda                  ‌ I haven’t really tried Finquiz’s paper so wouldn’t be able to advice on that.

                • Avatar of vincenttvincentt
                  Participant
                    • CFA Level 3
                    16 Oct 2017 at 4:28 am
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                    @Alta12‌ aversion of ambiguity should not be in 2014’s syllabus.

                    I’ve just printed out 2013 paper and it is so thick, even with the print on both sides option.

                    I checked the content and there are 3-5 pages with lines after each questions (for AM of course).

                  • Avatar of Alta12Alta12
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                      17 Oct 2017 at 11:43 am
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                      @sophie I think I will get the Fitch mock as well. @mockturtle I bought the BSAS mock as well but some people is saying that the content is not up to date?

                    • Avatar of RaviVoodaRaviVooda
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                        • CFA Level 3
                        16 Oct 2017 at 2:49 am
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                        @Alta12, Yes you can skip that question. It is not there in 2014 LOS
                        Aversion to ambiguity is also not there in CFAI notes. But i think it is kind of correlated to Cognitive Dissonance

                      • Avatar of Alta12Alta12
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                          16 Oct 2017 at 3:16 am
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                          Thanks @Ravivooda! My first day practicing on the past exams. Heart breaking! 🙁

                        • Avatar of RaviVoodaRaviVooda
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                            • CFA Level 3
                            16 Oct 2017 at 3:35 am
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                            @Sophie‌ I am doing the 6 schweser papers and last 3 years CFAI exams. Results are not really encouraging. 🙁

                          • Avatar of RaviVoodaRaviVooda
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                              • CFA Level 3
                              16 Oct 2017 at 4:32 am
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                              @vincentt‌ , agree that they ask. My point in doing all 6 is that they aim to cover all topics in those 6 topics. It will be a complete revison and also helps us know if we have missed out any topics.

                            • Avatar of MockTurtleMockTurtle
                              Participant
                                17 Oct 2017 at 9:35 am
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                                @sophie, I have bought the Schweser and BSAS mock exams and will do the past papers from CFAI plus this year’s mock exam (item sets). I think I’ll buy the Fitch L3 mock exam as well, since you said it is good.

                              • Avatar of Sophie MaconSophie Macon
                                Keymaster
                                  17 Oct 2017 at 4:43 pm
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                                  Yea @MockTurtle‌ @alta12, let me know if your thoughts on BSAS. It wasn’t on my list because the consistency across years seems variable – but it’s better to get candidates’ opinion as well.

                                • Avatar of Alta12Alta12
                                  Participant
                                    16 Oct 2017 at 3:07 am
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                                    Thanks @Ravivooda! And do you or @vincentt know where are we meant to write our answers in the AM exam when there is no template given?

                                  • Avatar of vincenttvincentt
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                                      • CFA Level 3
                                      16 Oct 2017 at 4:35 am
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                                      @RaviVooda‌ yeah, by doing all 6 you should be able to cover all areas.

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