artyeasel

artyeasel

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      5

      With 100% leverage, as you said your equity is 0. So if you follow the calculations for a margin transaction, the return on investment should be infinite ∞. However this metric ceases to be a useful one at this point, as the risk profile would be a much more significant consideration.

      Is this a theoretical shower thought, or did you find a question by a provider that asked this? If it’s the latter, I’d be interested in knowing which provider as I don’t think the question would particularly useful as an exam question.

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      You can get a deferral only in circumstances below, and even then it’s not guaranteed:

      A life threatening or very serious illness to me or a member of my immediate familyCurrent pregnancy (self)A death in the immediate familyMandatory military service on day of the exam

      You’ll need to submit a written request for a deferral to [email protected] and include your full name and CFA Institute ID number.

      Link below:

      https://interactive.cfainstitute.org/deferral-refund

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      1

      There is a 3h article detailing exactly this, which you can follow:

      https://www.300hours.com/articles/what-is-the-most-effective-level-ii-cfa-exam-study-session-order#.Xdb6pTL7S88

      Mark Meldrum also has a video about this, which takes an easy-to-difficult (or vice versa) approach.

      https://www.youtube.com/watch?v=NVNxCeSFm8w

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      He’s not wrong. But like @barbtoksv said, you’re assuming that you will never, ever, make a mistake on any materials that you’ve studied, and you will guess the right average of questions correctly.

      This observation is not wrong, but not useful as a study strategy. I would categorize it under the same umbrella as stories of candidates that pass without any revision, or just 2 weeks revision, or while high or drunk – just because it worked for this candidate in the past does not mean that ‘do what I did’ is a legitimate study strategy.

      Best summarized by this quote from Bo Burnham:

      I would say don’t take advice from people like me who have gotten very lucky. We’re very biased. You know, like Taylor Swift telling you to follow your dreams is like a lottery winner telling you, ‘Liquidize your assets; buy Powerball tickets – it works!’

      (I’m liking the new editor btw!)

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      I agree with @barbtoksv. Failing your final university exams will be much worse than failing CFA L1. It would have been better to try and take them in Dec 2019 if speed was a concern but that’s too late, so better to focus on doing one thing at a time and go for Dec 2020.

      Good luck for your finals and welcome to the CFA program!

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      It’d better help – right now it’s detrimental! Aside from the extra time it takes to prepare for the exam, my staffer is diverting me away from some good projects because he thinks I’m taking on too much. *facepalm*

      Your staffer sounds like an asshat. I don’t think anyone should expect to have a bias AGAINST them because they’re a candidate.

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      @yodalearn13 you should be able to create a new discussion by yourself using the button on the top of the sidebar.

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      Retaking L2 is very, very common, I wouldn’t obsess too much about comparing with others. Good luck for your retake!

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      Tez4715 said:
      Going to have a small child on the scene in April 2020 so will probably be thanking myself for the early start. 

      More than you know…. Congrats!!

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      Hi @dollface, I’ve completed the program – I drop in every now and then to see if there’s anything I can contribute to.

      I didn’t start L3 any earlier than I did L2, they were both January after Christmas. Some mates started earlier but they didn’t really make significantly more progress than I did.

      Suggest you read through some practice papers at the start to get an understanding of what ‘essay’ means. The topics that are tested in essays are also more predictable, I think 300hours has done an analysis on this.

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      Oh snap, sorry to hear that @jasdev. I hope you recover well and try again, L3 is too close to finishing to give up!

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      I also found L3 easier (passed L3 now). L2 I found the hardest. Most people I’ve talked to feel this way, but some do find L3 harder. I think it depends on what are your strengths.

      @jasdev is also right about the marking – I wouldn’t assign too much of a value to your self-graded scores, just do them for practice.

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      Use a pen or pencil, either works. Liquid ink might smudge and reduce legibility though. But I think best to use what you’re most comfortable with.

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      Accuracy in what sense? In heading them as closely to a real grader as possible?

      Self graded exams will always have a huge variation depending on how kind you are to yourself – learn from the experience rather than getting hung up on the mock score.

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      A big one is the Javits Center which is on Eleventh Ave between 34th and 40th I think. But it’s not guaranteed, you might get a smaller test center elsewhere. Best bet is to go for Javits, or if you’re organized, book cancellable rooms in multiple locations, choose the best one when the time comes, and cancel all others.

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      A portfolio manager is EXPECTING a cash flow inflows in 17 days. Should he calculate his future return using TWRR or MWRR?

      Is that all the information the question gave?

      If so, I would go for TWRR (investing when you’ve received money) rather than MWRR (investing at a timing of your choosing).

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      It really is a case of just do it, or just get started. It gets a lot less intimidating once you’ve done one paper and gone through the model answers – just try and not be rattled if your score is not what you’d like it to be.

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      LeftSky2 said:
      In my opinion, CFA Institute is using questionable (may be even discriminatory) practices.

      I provided CFA Institute with a document issued by Embassy of my country in the United States, which allows me to travel to my home country and at least one more country, which does not require a visa. CFA Institute refused to accept this document as a substitute to international passport because it does not allow “unrestricted travel”

      Basically, according to CFA Institute my educational opportunities should depend on the list of the countries I can visit. In my opinion, it is not compatible with US laws, international treaties as well as recommendations of international organizations.

      In particular, there is UN Convention against discrimination in education. UN promotes equitable access to education, which does not mean “one size fits all”

      According to Brown v Board of Education, the right to an equal educational opportunity is one of the most valuable rights you have.

      On addition, “unrestricted travel” is a subjective criteria, which is open for an overbroad interpretation.
      Approach of CFA Institute can be interpreted as indirect discrimination based on nationality.

      I’m not a raving fan of CFA Institute by any means. But the main reason of rejection in your case seems to be that ‘it’s not an international passport’. My passport does not allow completely unrestricted travel (there are 2-3 countries which I can’t go to) but there’s never been any problems.

      For logistical reasons the proctors that check your documentation on exam day need a simple guide to stick to. I think simplification is also the reason why they used to accept other ID, but moved to just international passports.

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      bjw699 said:
      2 weeks later, still waiting.  All my cohort are now charterholders.  Why am I being held up?

      That’s weird. Call them up and check, usually they are quite responsive. Either way the decision goes, you’ll want to find out sooner rather than later.

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      I completely agree with @JaminioSilva. I don’t see how it’s possible to have a 2-3 week old stay at home while you go take the exam for the entire day.

      It’s a shame to defer for another year, but I’m quite sure it won’t work out if you try and have a kid and the CFA exam a few weeks after that.

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