@bceagles
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Up4
Does anyone know if the actual exam format lists the topics at the beginning of the exam (the same way Schweser does)? I suspect not but just wondering. Thanks.
Up3I didnt use the CFAI materials for L1 at all and felt that I had a solid grasp of all of the concepts using only Schweser but now at the last minute I think that approach may have been a mistake for L2. Guess I will at least supplement using the CFAI books for FRA and Equity. I just find the CFAI materials to be unnecessarily dense, dry, and verbose. I will take the CFAI mock this weekend and see where I am. Good luck to you.
Up3My guess based on those scores is that you will pass but it all depends on exam day (i.e. how you perform under stress and the topic weightings). I scored between 65%-72% in Volume I of the Schweser books and have been doing considerably better in Volume 2 (ranging from 74%-87%) although my high score was based on a combination of the luck of the topics and great guessing on derivs.
Review FRA/Equity again next week and keep memorizing formulas and you should be good. Good luck.
Up3Would that really be considered a violation when the question pertains to the format of the exam rather than actual content? Over the course of my studies I have gone through the exam questions sequentially but have considered skipping my weak sections (Der/QM) and doing those last, thus my original question.
Up3I just finished the 2013 CFAI Mock (AM & PM) under timed conditions and got a 73% on both (44/60) which I’m pleased with considering I found the PM test to be extremely confusing. I found the first FRA vignette (PM) to be the most difficult I have come across in all of the tests that I have taken (4 of 6 wrong). Analyst forum has a thread called surveymonkey that calcs people’s submitted scores for the mock and I think the average is around 68%. Keep cranking!
Up2Does anyone know how comparable the Schweser practice exams are to the real thing in terms of difficulty? I have taken 4 full-length exams and have been scoring between 65% – 73%. I have reviewed the SchweserNotes 2-3 times cover to cover doing all questions along the way. Today I cracked open a CFAI text for the first time and decided that I am not even going to attempt to go through those books. Anyone else only using Schweser?
Up2@Alta, just as you have to pay taxes to the government (a real expense) so too does a corporation so investors use P/E as a metric because they are interested in understanding how much the market is willing to pay for each dollar of earnings (an earnings multiple).
Up2Dont forget to memorize/understand the Relative OAS Valuation table that outlines the 3 benchmarks (Treasury, Sector, and Issuer-Specific) and remember that you always want to choose the bond with the highest OAS and lowest option cost. Doing CFA mock tomorrow. Interested to see the score relative to my Schweser exam scores.
Up2@jsaucedo – I passed L1 and L2 on my first attempts studying around 4 months (300+ hours each). My thought process was that it can be very difficult to retain such a broad base of information for such an extended period (>4 months) of time unless you are constantly refreshing (even material that you come to really understand). I used Schweser exclusively for both levels (did not use CFAI at all) and felt more than adequately prepared during the exam. With that said, my recommendation to others would be to use Schweser (or another provider) for about 80% of your study but also focus on the end of chapter questions in the CFAI texts to drill down on the content and get a handle on the format.
@chhajedshrenik – I took L1 in December so some of the information was still fresh by the June L2 exam but I found the Schweser material did a good job in its notes package of pointing out areas that required review and they often started with that L1 foundation in the texts before getting into the actual L2 content.My overall advice is as follows:
– read each Schweser text 3 – 4 times
– do the questions at the end of each chapter as you go along
– take notes during your first pass and begin to create formula note cards
– take at least 6 mock exams during the last 6-8 weeks to get a feel for the format, timing, content, weighting, etc. plus the official CFAI Mock
– what I did not do but would have done with more time: reviewed CFAI end of chapter questions and read some of the chapters that I was weak in (Econ, QM, Der)Good luck.
Up173% on both the AM and PM sections (mimicked the actual exam as much as possible). I found the PM to be much harder (esp. the first FRA section). I plan on spending M-W reviewing my weak areas (along with daily formula/note card review) and Th/Fri reviewing FRA/Equity/Ethics. Hoping to log 30 hours of study! Best of luck to you.
Up1I was just wondering the same thing as parts of the chapter seem very calculation based but the command word is “demonstrate”. Anyone have any thoughts on this?
Up0Total Leverage? Also remember to use beginning of period shareholder’s equity because retained earnings are not available until the end of the period.
Up0@mattyc, I completed both Schweser test books and my book 1 test scores ranged from 65%-73% while my book 2 test scores ranged from mid 70’s to mid 80’s towards the last test. I found the 2nd book to be easier than the first but also think the averages going up are a results of people being better prepared regarding both the content and the exam format. Sounds like you are in good shape. Just need to perform on Saturday.
Up0Pretty sure the formula you are referring to was actually from the PM section, no? Either way, I believe those two questions could be solved with the info provided without knowing the actual formula.
