CFA CFA Level 3 My updates: first mock done.

My updates: first mock done.

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    • MattyJ
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      Over the weekend I took my first L3 mock exam. It wasn’t under exam conditions, and the process I followed was to answer a question/vignette which I would then mark whilst it was still fresh in my mind. I also allowed myself to look up equations on my cue cards provided I knew that the equation existed and it was simply a case that I hadn’t memorised it yet (these WILL be memorised by exam day, and I get no value from sitting there trying to answer a question that I know requires an equation I can’t remember). In respect of the essay section, I also marked myself particularly harshly, and feel that I probably would have come out slightly better but do not want to get complacent.

      I managed 49.4% on the essay section, and 66.6% on the multiple choice section. Overall therefore an average of 58%, which I am happy with for a first attempt. I thought I would highlight my observations from this first mock:

      1) the essay section was easier than I expected. Don’t get me wrong, you have to know your stuff, but this was a part I was really worrying about.

      2) I know more than I think. I always have. Problem when taking the CFA exams that I finish the readings and then forget half of what was covered in the syllabus. Whilst the same happened here, I don’t think it was to as great an extent. Also, there seems to be a lot of repetition throughout various study sessions.

      3) the IPS appears to be a very important and heavily-weighted topic. Obviously 1 exam doesn’t make a great sample, but I think Schweser know that this is where you need to focus as it touches all parts of the syllabus. I actually like the IPS sections as I find them quite obvious (if that makes sense?) so hopefully this will bode well.

      Next Stages:
      The are 23 days left until the exam…and failure is not an option 🙂 my plan from here on is as follows:
      1) spend the weekday evenings over the next two weeks learning all the equations I have written down on cue cards as I have gone through the syllabus. I know this doesn’t work for everyone, but I like knowing these off by heart. A classic example was in the mock exam where I was asked to calculate the missed costs of a trade, and without the formula you would have no hope (especially as in the essay section).

      2) whilst doing the above, I also plan to go through all the EOC’s from the CFAI books as I haven’t touched these yet. These should all be done by Fri 24/05.

      3) I also have at least 8 mock papers left plus any others I may wish to purchase. I will do two this weekend, two next weekend, and two the weekend after, leaving me 2 to do in the last week (which I have booked off work and am travelling back to the UK to stay with my parents so I have some peace and quiet).

      4) In the last week I will then focus on going over topics I find difficult, and generally getting ready for the exam itself.

      Hopefully this should lead to a positive outcome!

      Good luck all…this is it!

      P.s. sorry I have been a bit quiet on here recently…have been working hard offline. Once the exam is over I will definitely be back with a vengeance, aiming for the ‘Million Posts’ badge 😉

    • Sophie Macon
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      A million posts? :-O

      Thanks for sharing your thorough analysis with us @Mattjuniper! Sounds like you know what to do and it’s uber organised – yes IPS is a huge part, hence those crazy guides I wrote (which should be complete now), but once you know the ‘style’ it should hopefully be easy to ace these.

      Best of luck!

    • MattyJ
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      A million posts? :-O !

      Go big or go home.

      😉

      Yes those guides you wrote a gonna be exceptionally useful! I will be printing them off and going through them all this week. Thanks for all the effort you put in!

    • Sarah
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      @MattJuniper welcome back.
      Awesome stuff. I also like memorizing formulas. I find it comforting.

    • Sophie Macon
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      No prob @Mattjuniper, as long as you guys find it useful 😉

    • Zee Tan
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      P.s. sorry I have been a bit quiet on here recently…have been working hard offline. Once the exam is over I will definitely be back with a vengeance, aiming for the ‘Million Posts’ badge 😉

      @mattjuniper be sure to visit right before the exam 😉

    • Sarah
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      @mattjuniper be sure to visit right before the exam 😉

      I smell a competition.

    • Zee Tan
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      Competition? Nah, wouldn’t want to stress you guys out further before your big day… 😀

    • sankrutimehta
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      @Mattjuniper: I love u for sharing this maan!! seriously I have been asking ppl about their average score in the papers so that I could knw an approximate standing..but no one quite honestly was keen to help!!
      I solved 4 full exam like tests AM and PM from Schweser… scoring from 50% average to 65%..Me too going for a similar schedule though m planning more papers..past papers and Kaplan book along with CFA mock paper if I can squeeze them in.

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