@artyeasel
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Up10
A debit card is fine.
Up5Some I found floating around the internet. Some are a few years old but might still be useful.
CFA Level 1 – http://bit.ly/QK3CBQ
CFA Level 2 – http://bit.ly/QK3IJF
CFA Level 3 – http://bit.ly/QK3KkJUp5Whilst it’s a pain to have to wait 12 months to retake L2 or L3, I quite like the fact it is an annual exam as it makes it feel more exclusive!
I feel that way too. But full disclosure – I would probably not feel that way if I had to battle through Level 2 again… 🙂
Up5WOOHOO!!! 🙂 I just finished mine too!
Up5@LeChiffre‌: excellent username, have a like 🙂
1. Seems like a solid plan timewise to me.
2/3. The point is to ensure you have covered most topics evenly. Based on the allocated total time, as long as your allocated time/effort roughly balances the weights of the topics, you shouldn’t have anything to worry about. Just looking through the days, 3 days for Alt Inv seems a bit light to me though. I don’t think the topic is hard to understand, but the questions can be very tricky.Up5Then that seems about right to me. My way is usually to take them immediately after. Your process seems very thorough – i think you can afford to go faster 🙂
Up5A covered call is when you sell a call option (right to buy) on an asset you already own. Usually this is when you’re expecting the price of the asset to trade flat or slightly lower, and you’re looking to make money from the premiums of the call options you’re selling (you’re betting it won’t exercise).
For example, say you hold x Apple shares (price: $101.60). You then sell an equivalent number of call options at a strike price of $110, earning you a premium. 3 scenarios can happen:
- APPL trends flat (remains at $101.60). You don’t make money from your APPL shares (asset), but you get to keep your premium (from selling call options), so you profit.
- APPL shares drop (below $101.60). You lose money from your APPL shares (asset), but you get to keep your premium (from selling call options). Final profit/loss depends on how much you lose from your asset, and how much you gained from premiums.
- APPL shares rise (above strike price of $110). You make money from your APPL shares (asset), but only up to $110, as profit beyond that is counteracted by the call option (you have to pay the option buyer the difference). Thus you still profit, but less than if you’ve just held your APPL shares without selling the call options.
So maximum profit is when price of asset = strike price of call options.
Up5I’d advise to try and take a little bit of time off earlier on than the week before as well. If you take a week off before and realize you have a lot of studying to catch up on it might be too late. Also have a look at a practice exam early on as a sense-check on where you are in studies.
@LeChiffre, have a like on account on your 6 Ps, made me smile 🙂
Up5Ethics usually appears in the PM (multiple choice) paper, see here: https://forum/.300hours.com/discussion/3301/essay-ethics-does-it-happen#latest
I’d say a similar approach to Level 1 and 2 applies. From what I can remember Level 3 Ethics was a lot more intuitive to answer than previous levels.
Up5Reading through the details you’ve given above, in my opinion you should qualify for the professional experience requirement. Both foreign company licensing and market conduct analysis should be applicable – with MCA I’m assuming that your analysis affects how consumers choose their product, so that’s also ‘relevant’ work experience (similarly to how ratings agencies affect how investments are made…?). If that’s the case, make sure you include that in your application.
Up5Accuracy 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.
Up5With 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.
Up4CFA Level 3 – in corporate finance.
Up4at the risk of sounding cheerily annoying, I’m actually quite enjoying the process. this will wear out for sure later down the road, but for now i’m trying to capitalize on that.
Yep, always starts off that way…
Up4Level III is a lot more conceptual, but the true nature of the beast is the essay paper.
Although I also found the material a lot easier to understand, the essay format of the paper made it much harder – I didn’t do well in the essay section at all. This also is demonstrated in our CFA Analysis Report – we found that Level III candidates did significantly worse in the essay section.
Read up on our Analysis Report and the Level III Commandments for the full set of tips!
Got it – material is OK – it’s the format that kills you? Gotta hit the practice exams then.
